Withdraw Payoneer to Mutual Trust Bank in Bangladesh 2026

Last Updated: January 15, 2026

How to Withdraw From Payoneer to Mutual Trust Bank Bangladesh (2026)

I remember when I first started freelancing, the thrill of earning my first $100 online was incredible. However, the excitement quickly turned into stress when I faced the challenge of transferring my hard-earned money to my local bank in Bangladesh. PayPal didn’t work here, and I had to find a reliable alternative. That’s when I discovered Payoneer, a lifesaver for countless Bangladeshi freelancers like myself. Today, I want to share with you how to withdraw from Payoneer to Mutual Trust Bank (MTB) in Bangladesh, based on my experience.

Understanding Payoneer and Its Benefits

Payoneer is a global payment platform that has become the go-to choice for freelancers in Bangladesh. It allows you to receive payments from various platforms like Upwork and Fiverr, and it offers a seamless withdrawal process to local banks. Here’s why I prefer Payoneer:

• No PayPal Hassle: As most of you know, PayPal does NOT work in Bangladesh. This makes Payoneer a necessary alternative.
• Low Withdrawal Fees: The fees for withdrawing to local banks, including MTB, are relatively low, typically around 1%.
• Quick Transfers: I’ve often seen my funds arrive in my local bank account within 1-3 business days.

When I first started using Payoneer, I remember feeling uncertain about the process. However, after a few successful transactions, I realized how straightforward it was.

How to Withdraw from Payoneer to Mutual Trust Bank

Withdrawing your funds from Payoneer to Mutual Trust Bank is a simple process. Here’s a step-by-step guide:

Step 1: Link Your Payoneer Account to MTB

Before you can withdraw, you need to link your Payoneer account to your Mutual Trust Bank account. Here’s how to do it:

1. Log into your Payoneer account.
2. Navigate to the 'Bank Accounts' section.
3. Click on 'Add Bank Account' and select Bangladesh as your country.
4. Choose Mutual Trust Bank from the list of local banks.
5. Enter your MTB account details:

• Account Number
• Account Holder Name
• Bank Address (you can find this on MTB’s website)

1. Submit the information for verification.

This process typically takes about 1-2 business days for Payoneer to complete.

Step 2: Withdraw Funds

Once your bank account is linked, you can withdraw your funds. Here’s how:

1. Log into Payoneer.
2. Go to the 'Withdraw' tab.
3. Select 'Withdraw to Bank Account.'
4. Choose your linked MTB account.
5. Enter the amount you wish to withdraw.
6. Confirm the withdrawal.

I usually withdraw amounts that are multiples of $100 to avoid excessive fees. For instance, if I have $500 in my Payoneer account, I’ll withdraw $400 to keep a buffer for upcoming expenses.

Step 3: Receive Your Funds

After confirming your withdrawal, you’ll receive a notification from Payoneer. Typically, it takes 1-3 business days for the amount to reflect in your MTB account. I’ve had days where the transfer occurred within 24 hours, which is fantastic.

Fees and Exchange Rates

When withdrawing from Payoneer to MTB, be aware of the applicable fees:

• Withdrawal Fee: Approximately 1% of the total amount.
• Currency Conversion Fee: If your funds are in USD, there might be an additional conversion fee when they are converted to BDT.

For example, if you withdraw $500, you might pay around $5 in withdrawal fees, translating to approximately 570 BDT based on the current exchange rate.

Withdrawing from Wise to Mutual Trust Bank

If you also use Wise (formerly TransferWise) for international payments, withdrawing to Mutual Trust Bank is equally easy. Here’s a quick guide:

Step 1: Link Wise to Your MTB Account

1. Log into Wise.
2. Go to the 'Recipients' section.
3. Add a new recipient and select 'Bank Account.'
4. Input your MTB account details in the same manner as with Payoneer.

Step 2: Transfer Funds

1. Choose the amount to send.
2. Select your MTB account as the recipient.
3. Confirm the transaction.

Wise typically offers very competitive exchange rates, so it’s worth considering if you have a Wise account.

Step 3: Confirmation and Timing

Like Payoneer, Wise transfers to MTB can take 1-3 business days. The fees may vary based on the amount and currency but are generally low, making Wise an excellent alternative.

My Experience

When I first started withdrawing from Payoneer, I faced a few hiccups. I remember one instance where my withdrawal took longer than expected. It turned out that I had entered an incorrect account number. After contacting Payoneer’s customer support, which was quite responsive, I was able to rectify the issue.

This experience taught me the importance of double-checking my account details. Since then, I’ve built a system for myself where I keep track of all my banking details securely.

I’ve also helped over 500 fellow Bangladeshis start their freelancing journey, and one common question that arises is about payment methods. It's crucial to educate new freelancers about the importance of using reliable platforms like Payoneer and Wise for their financial transactions.

Practical Tips for Bangladeshi Freelancers

If you’re just starting your freelancing journey or looking to optimize your payment withdrawals, here are some practical tips:

• Keep Your Records Organized: Maintain a document with all your bank details, Payoneer account information, and transaction records. This will save you time during withdrawals.
• Consider Exchange Rates: If you often deal with multiple currencies, make sure to check real-time exchange rates on Wise or other platforms to maximize your earnings.
• Choose the Right Amount: Withdraw amounts that minimize fees. For example, withdrawing $400 instead of $500 will save you on fees and keep some funds in your Payoneer account for future withdrawals.
• Stay Informed: Always check the latest fees and policies from Payoneer and Wise. They can change, and it’s important to stay informed.
• Don’t Rely Solely on One Platform: Having accounts on both Payoneer and Wise gives you flexibility and options for withdrawing your funds.

Conclusion

Withdrawing from Payoneer to Mutual Trust Bank in Bangladesh is a straightforward process that can help you manage your finances as a Freelancer effectively. I’ve personally benefited from using Payoneer and have seen how it can empower freelancers to achieve financial freedom.

As you embark on or continue your freelancing journey, remember that using reliable payment solutions like Payoneer and Wise will make your life easier. Always double-check your account details and stay informed about the latest trends in the freelancing world.

By following these steps and tips, you can ensure that your hard-earned money reaches you safely and efficiently. Happy freelancing!