Payoneer: Fast, Secure & Low Cost Money Transfers

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Overview

Payoneer is a leading global financial service that was founded in 2005. It offers various services/products such as cross-border payment platform/ money-transmitter, integrated payments API, billing service, e-wallet and re-loadable prepaid MasterCard debit card. Many huge companies use Payoneer to send payouts like Airbnb, Google adsense, Upwork, Fiverr and Amazon. Payoneer operates in over 200 countries, supports 150 currencies and 35 languages and has a 4M user-base as of this writing. Basically, Payoneer works just like PayPal and any other online financial services.

3 Simple Steps to Get Started with Payoneer

  • Create a free account at Pioneer
  • Receive payments locally and internationally
  • Withdraw your money from your local bank account or thru your Payoneer Mastercard

Where can you use Payoneer

  • Payoneer can be integrated with Freelancing websites such as Upwork, Elance, Fiverr, 99designs, Getty images, People per hour, and many other
  • Shop online and pay using your Payoneer account
  • Get a virtual US Bank account
  • Create an invoice for free using
  • Payoneer’s online tool
  • Global payment service
  • Send money or make payments for free
  • Easily integrate Payoneer with your platform with their cutting edge APIs

Why use Payoneer / Advantages of Payoneer

  • Signing up to a Payoneer account is FREE of charge.
  •  Pioneer offers a Mastercard debit card you can use to directly withdraw money from your Payoneer account thru local ATM machines
  • Low and competitive fees
  • Payoneer is regulated by the Financial Conduct Authority in UK, by the Financial Services Commission in Gibraltar, the Customs and Excise Department in Hong Kong, and by the Money Transmitter License in USA
  • Easy to use
  • Payoneer has a mobile app in which you can easily access e-wallet, payment transactions and history, and currency comparison. In addition, the mobile app is available in 19 languages and can be installed to any iOS and Android devices
  •   Payoneer is multi-awarded
  • Payoneer has 24/7 customer support via Community Forum, livechat, Email and via phone

Disadvantages of Payoneer

  • Payoneer has a massive clientele that sometimes they become unable to cope up with all the customer queries – although this should not be an excuse
  • Payoneer no longer allow accounts with no local bank account – on signing up, you will be required to input your bank account details for verification
  • Forex rates are low compared to Paypal
  • Payoneer mastercard comes with various fees such as Activation Fee, monthly card account maintenance and ATM withdrawal fee


How to withdraw money from Payoneer

There are two ways you can withdraw your money from Payoneer

1. Withdraw your money thru your local bank account

3 simple steps:

  • Log on to your Account
  • Click Withdraw tab and choose “to bank account”
  • Fill out the withdrawal form and click Next to submit – withdrawn amount shall be credited to your local bank account in 2 to 4 days    

2. Use the Payoneer Prepaid Card to withdraw funds at any ATM machine that accepts MasterCard. Note that there fees associated in withdrawing your funds via ATM machines including the following:

  • ATM withdrawal fee
  • A currency conversion/cross border fee.
  • A surcharge imposed by the owner of the ATM you are using.

How to fund Payoneer Account

Beside earning and receiving money from online freelancing websites, you can fund your Payoneer account thru the following ways:

1. Fund your account through Paypal: Because Paypal and Payoneer are two different payment processor companies, you can’t simply transfer funds directly between these two payment platform. Instead, you can link your Payoneer mastercard to your Paypal account and withdraw the money thru it. If the money is coming from a different Paypal account then this is definitely not an option to do so.

2. Payoneer Referral program: Payoneer has a referral program in which you can earn $25 for each referral. To do this, you’ll need a unique sign up link that you can send to your friends. You can get your unique referral link by logging into your account and by following the on-screen instruction under “Refer a Friend” in “My Account”. The $25 reward shall only be credited to your account once the referred customer’s balance reach a minimum of $1000 during the first year.

3. Receive money from another Payoneer account: Sending and receiving payments between accounts are free of charge. To send money to another Payoneer account holder, you will simply need to log on to your account, select ‘Make a Payment’ in the dropdown menu under 'Pay' and complete the form with your recipient's details and the amount you wish to send and then submit. Funds shall be available in not more than 2 hours.


Verdict

Payoneer is highly recommended to freelancers, affiliate marketers and to companies that do mass payout. Payoneer makes it easy for anyone doing business online to receive and send payments internationally.

People would usually compare Paypal to Payoneer but they don’t completely work the same. Paypal can be easily funded by linking your bank account to it and use the fund anywhere you want – Payoneer, on the other hand, doesn’t really encourage “self-loading” so it kind of disabled its account holders to link their Payoneer account to their bank accounts.

Payoneer is basically made for business owners and freelancers who wish to pay and get paid as easily globally as they do locally. Every day, the Internet is creating new business opportunities all over the world, and Payoneer’s main objective is to connect entrepreneurs, business owners and freelancers around the world by being the preferred medium of payment.

Special Bonus from Payoneer For GFA Readers


We have worked out a special deal for new Payoneer users - Receive a $100 USD bonus (rebate) when you load your first $1,000 USD.

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Lyka
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Lyka

Payoneer is a service to use especially for a freelancer like me. It’s so much easier to use this service when receiving payments for the projects done for different international clients.