Depop pays you through Payoneer, not directly to your bank
Depop does not transfer money straight to your bank account. Instead, when someone buys from you on Depop, the payment goes into a Payoneer account that Depop creates for you automatically. From there, you move the money to your actual bank account in a separate step. This two-step process means you cannot skip Payoneer — it is the required middle ground between Depop sales and your bank.
The money sits in Payoneer until you withdraw it. Payoneer holds your balance and handles the actual bank transfer. You control when that happens, but you do need to set up your bank details in Payoneer first, and you may encounter withdrawal minimums or fees depending on your country and bank type.
Key Takeaways
- Depop automatically creates a Payoneer account for you; your sales balance lives there, not in Depop itself.
- To move money to your bank, you log into Payoneer, add your bank account details, and request a withdrawal.
- Withdrawal minimums and fees vary by country; in the US, most withdrawals to a linked bank account are free once you meet the minimum.
- The transfer from Payoneer to your bank typically takes three to five business days, though it can be longer depending on your bank.
- If you have not received money after five business days, contact Payoneer support first, because the delay is usually on their end, not Depop's.
How to access your Payoneer account and check your balance
When you make your first sale on Depop, the app sends you an email with a link to activate your Payoneer account. Click that link and set a password. You will then be able to log into Payoneer directly at payoneer.com using the email address tied to your Depop account.
Once you are logged in, your Depop sales balance appears on the Payoneer dashboard under "Available Balance." This is the money you can withdraw. Payoneer also shows you any pending transfers, fees, or holds. Check this balance before you request a withdrawal so you know exactly how much is available to move.
If you never received the activation email, go to payoneer.com, click "Log In," and select "Forgot Password" using the email address Depop has on file for you. Payoneer will send you a reset link. Once you reset your password, you can log in and proceed to add your bank account.
Adding your bank account to Payoneer
Before you can withdraw money, Payoneer needs your bank account details. Log into your Payoneer account, go to the "Withdraw" section, and select "Bank Transfer" or "Bank Account" (the exact wording varies by country). Payoneer will ask for your bank's routing number, your account number, and the account holder's name.
Use the routing number from your bank's website or a check, not a wire routing number — Payoneer uses ACH transfers, which require the standard routing number. Enter your checking or savings account number exactly as it appears on your statements. The account holder name must match the name on your Payoneer account, which should already match your Depop account.
After you submit your bank details, Payoneer may verify the account by sending two small test deposits to your bank (usually under one dollar each). Your bank will show these deposits in your account within one to two business days. Once you see them, log back into Payoneer, go to the verification section, and enter the exact amounts of those two deposits. Payoneer will then confirm your bank account is linked and ready for withdrawals.
Requesting a withdrawal and understanding fees
Once your bank account is verified, go to the "Withdraw" section in Payoneer and select "Bank Transfer." Enter the amount you want to withdraw. Payoneer will show you the minimum withdrawal amount for your country and any fees that apply. In the United States, withdrawals to a linked bank account are typically free if you meet the minimum (often $20 to $50, depending on the time). Some countries charge a flat fee per withdrawal; others charge a percentage.
Review the fee and the total amount that will arrive in your bank account, then confirm the withdrawal. Payoneer will process the request immediately, but the money does not leave Payoneer right away. The transfer to your bank takes three to five business days on average. Payoneer will send you an email confirmation with a reference number; keep this in case you need to follow up.
If you withdraw on a Friday or before a holiday, the transfer may take longer because banks do not process ACH transfers on weekends or holidays. Plan accordingly if you need the money by a specific date.
What to do if money does not arrive after five business days
If five business days have passed and the money has not shown up in your bank account, contact Payoneer support first. Log into your Payoneer account, go to "Help & Support," and describe the withdrawal that did not arrive. Include the reference number from your confirmation email. Payoneer can see whether the transfer was sent to your bank and whether your bank rejected it.
Banks occasionally reject ACH transfers if the account number or routing number was entered incorrectly, or if the account holder name does not match exactly. Payoneer will tell you if this happened. If the transfer was rejected, you can request a new withdrawal with corrected information, and Payoneer will reprocess it.
If Payoneer confirms the transfer was sent and your bank says it never arrived, ask your bank to trace the ACH transfer using the reference number. This is rare, but it does happen. Your bank can file a trace and recover the money if it was sent to the wrong account by mistake.
Withdrawal minimums and limits by country
Payoneer's withdrawal minimums and methods vary significantly by country. In the United States, the minimum is usually $20 to $50 for a bank transfer. In the United Kingdom, it may be £10 to £20. Some countries do not offer bank transfers at all and require you to use a Payoneer debit card or other withdrawal method instead.
Check your Payoneer account settings under "Withdraw" to see what methods are available in your country and what the minimum is. If your Depop balance is below the minimum, you will need to wait until you make more sales before you can withdraw. Payoneer does not charge you to hold the money in your account, so there is no penalty for waiting.
Payoneer also has daily and monthly withdrawal limits that depend on your account verification level. Most verified accounts can withdraw several thousand dollars per month. If you hit a limit, Payoneer will tell you when you can withdraw again.
Using a Payoneer debit card as an alternative
If you do not want to wait for a bank transfer or your country does not support bank withdrawals, Payoneer offers a debit card. You can order a physical card or use the virtual card number immediately. The card draws directly from your Payoneer balance, so you can spend the money at any merchant that accepts Mastercard.
There is usually a fee to order a physical card (around $10 to $20, depending on your country), and some countries charge a monthly maintenance fee. Virtual cards are typically free. If you use the card, the money leaves your Payoneer account immediately, just as it would with a bank transfer, but you do not have to wait for the ACH processing time.
The debit card is useful if you need the money quickly or if your bank is not compatible with Payoneer's transfer system. However, if you plan to move money to your bank account regularly, a direct bank transfer is usually cheaper and simpler in the long run.
Frequently Asked Questions
Can I transfer money from Depop to my bank account without using Payoneer?
No. Depop requires all sellers to use Payoneer. There is no way to bypass it or have Depop send money directly to your bank. Payoneer is the only payment processor Depop uses for seller payouts.
How long does it take for money to go from Depop to my bank account?
The money reaches your Payoneer account instantly when a buyer pays. From Payoneer to your bank, it takes three to five business days for a standard ACH transfer. Total time from sale to bank account is usually three to six business days, depending on when you request the withdrawal and your bank's processing speed.
What if my bank account information is wrong?
If you entered the wrong routing number or account number, Payoneer will attempt the transfer and your bank will reject it. The money returns to your Payoneer account within five to ten business days. You can then update your bank details and request a new withdrawal with the correct information.
Do I have to pay taxes on money I withdraw from Depop?
Yes. Depop sales are taxable income. Payoneer does not withhold taxes or issue tax documents, so you are responsible for reporting the income to your tax authority. Keep records of all your Depop sales and withdrawals for tax purposes.
Can I withdraw money from Payoneer if I have not sold anything yet?
No. You can only withdraw money that you have earned from sales. If your Payoneer balance is zero, there is nothing to withdraw. Once you make a sale and the balance appears, you can request a withdrawal if you meet the minimum amount.