Payoneer. What is Payoneer? How does Payoneer work?
Payoneer — is an international payment system founded in 2005 in New York. In 2021, Payoneer became a publicly traded company.
(Step-by-step guide on how to register a Payoneer account)
How does Payoneer work?
Payoneer provides an opportunity to receive compensation for your professional activities or services rendered. After that, you can transfer the funds to an account or payment card of any financial institution. Alternatively, by using the Payoneer card, you can withdraw money through ATMs or make purchases and payments just like with a regular bank card.
After receiving your first 1,000 USD* (or equivalent), you will get 25 USD.
Navigation on the page:
Registration with Payoneer is free and available to all individuals working online. To create an account in the Payoneer system, you will need to provide details from one of the following documents: Ukrainian passport, international passport, tax identification number, or driver's license. You will also need to enter the details of an existing card from any Ukrainian bank to verify your identity.
Creating a Payoneer account (registration with Payoneer) is free and accessible to anyone engaged in online activities. To register in the Payoneer system, you must provide information from one of the following documents: passport, international passport, tax identification number, or driver's license. Additionally, you will need to provide details of an active card from any bank to verify your identity.
For freelancers, UGC creators, remote specialists, photo artists, etc.
The system allows you to receive payments from freelance platforms, photo banks, online marketplaces, and various services. Moreover, Payoneer facilitates seamless collaboration directly with clients and enables you to receive payments from European and American clients thanks to the "Request a Payment" feature and provision of account details. By the end of 2024, Payoneer has integrated with more than 200 popular platforms, including: upwork.com, fiverr.com, 99 designs, Envato, shutterstock.com, Freelancer.com, Google AdSense, iStock.
Payoneer is also suitable for entrepreneurs and marketplace sellers, such as those on Amazon, eBay, and Etsy. Payoneer serves as a key tool for sellers on platforms like Wish, Amazon, eBay, Cdiscount, and others. The Payoneer dashboard offers tools to manage multiple Amazon storefronts, as well as the option to pay VAT directly from your account, which is very convenient. Especially helpful is the feature for paying contractors and suppliers, allowing you to avoid additional currency conversions and fees. All payments can be made directly through the Payoneer account.
Who is Payoneer suitable for?
After receiving your first 1,000 USD* (or equivalent), you will get 25 USD.
When your account balance reaches $100, a "Order Card" button will appear in your dashboard. Once the delivery is arranged, the Payoneer card will be sent via standard mail for free, and it should arrive within 7-16 days.
The card may not arrive for various reasons. If this happens, you can request free delivery again via regular mail or choose a paid option for delivery through DHL.
You can use a Payoneer account without ordering a card. Funds can be withdrawn directly to any bank card from your Payoneer balance, avoiding the annual card maintenance fee of $29.95.
For many people, a plastic card is unnecessary, and a virtual version is enough. Payoneer offers virtual cards in Dollars, Euros, and Pounds.
How to get a Payoneer card
With a Payoneer card, you can make payments in stores, cafes, restaurants, hotels, gas stations, and withdraw cash from ATMs in any country in the world.
Why do you need a Payoneer card
💳 Payoneer card is a standard personalized bank card.
After some time, you will receive a notification that your request has been approved.
The virtual card needs to be activated, after which you can fully use it.
Choose the currency in which you need the virtual Payoneer card.
You need to log in to your Payoneer account, then go to Settings -> Payoneer Cards and start the process of ordering a new card.
How to issue a virtual Payoneer card?
After receiving your first 1,000 USD* (or equivalent), you will get 25 USD.
Direct payment from a client:
No fee if the client pays through their Payoneer account;
3% fee when paying with a credit card (MasterCard, Visa, etc.);
1% fee when paying via eCheck (USD).
Payments from marketplaces:
Payoneer does not charge additional fees for receiving funds. However, specific services may apply withdrawal fees. For example, Fiverr charges $3, Upwork charges $1 for each withdrawal transaction. When funds are received in your account, Payoneer offers instant loading for $2.50 or standard loading for free, which takes up to two business days.
Global Payment Service:
Payoneer provides every user with a service to receive funds in various currencies worldwide through the Global Payment Service. Receiving EUR, GBP, JPY, AUD, CAD, and CNY is free, while a 1% fee is charged for receiving USD.
Payments:
You can make payments to other Payoneer accounts without any fees.
Payoneer Fees
Payoneer Card Fees
· The annual fee for using a physical (plastic) debit card is $29.95.
(Payoneer offers a debit card that requires this annual maintenance fee.)
In case of loss or theft, a card replacement fee of $12.95 is charged.
· Purchases made online or in stores are free of charge ($0.00). However, there are additional conditions to consider: if the currency of the purchase differs from the card's currency, a 3.5% conversion fee will be applied at the Visa/MC exchange rate, which is often more favorable than conversion fees at banks.
(When using the Payoneer card in foreign stores, additional fees may be incurred either due to currency conversion or cross-border transactions. However, no fees are charged in U.S. stores. A conversion fee applies if the transaction currency differs from the card's currency, and the exchange rate is set by MasterCard. Payoneer charges up to 3.5% for currency exchanges and up to 3.5% for international transactions. If the payment is made in the card’s currency but the bank and merchant are in different countries, a cross-border transaction fee is applied. It’s important to note that only one type of fee is charged at a time—either for currency conversion or for international transactions.)
· ATM withdrawals incur a fee of $3.15 per transaction, with additional charges possibly applied by the ATM operator. If an ATM withdrawal is declined, a $1 fee is charged. Additionally, checking the card balance at an ATM incurs a $1 fee per request.
It is recommended to check your balance through your Payoneer account.
Payoneer Card Withdrawal and Payoneer Payment Limits
What are the limits for withdrawing funds from an ATM or making purchases with a Payoneer card?
These limits vary individually. However, for most users, the following restrictions apply:
The daily spending limit for the Payoneer card is $5,000. Of this amount, you can withdraw up to $2,500 in cash and spend up to $2,500 on purchases.
You are allowed up to 30 ATM transactions and up to 30 purchases per day (both offline and online).
It’s important to remember that ATMs also have their own limits, which depend on the bank.
Where can you withdraw money from Payoneer? Withdrawing money from a Payoneer account to a bank card.
Withdrawal in USD can be made to cards of any bank.
Select the bank account you want to withdraw to.
Click Withdraw.
Follow the on-screen instructions to make a withdrawal
After receiving your first 1,000 USD* (or equivalent), you will get 25 USD.
Payoneer support phone number
US +1-800-251-2521 # US toll free
GB +44-203-519-1198 # UK toll free
ES +34-91-266-1911 # Spain
JP +81-3-4578-1755 # Japan
UA +38-089-320-24-26 # Ukraine
All others +1-646-658-3695
English: Monday 2:00AM EST - Friday 9:00 PM EST
* Support by phone is free. Please be aware that domestic / international telephone charges may apply depending on the customer's telephone plan used.
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