Payoneer is a leading global payment company. Thanks to its international payment system, anyone can receive payments from companies and customers worldwide. Thousands of people around the world choose this company due to its high credibility and trust.
- High confidence and credibility
- Low commissions for transactions
- It allows receiving payments from all over the world
- It offers a prepaid card
- Payoneer received world prizes for its service
- Customer service may take time to respond
In this Payoneer Review, you will find everything you need to know before opening an account:
Payoneer is a company founded in 2005 with headquarters in New York. The founder and current president of this company is Yuval Tal, and its current CEO is Scott Galit.
Its objective is to eliminate the payment frontiers that allows thousands of companies and individuals to pay and receive money.
They’re currently associated with many recognized companies such as Airbnb, Fiver, Getty Images, UpWork, and many more. This makes it easy for individual users and freelancers to receive payments in Payoneer’s virtual wallet.
The company has grown exponentially since its founding, and today has 1,000 employees worldwide.
Likewise, it receives users from all over the world, so you have no barriers in any country in the world.
What is Payoneer for?
The Payoneer service is used to send and receive payments worldwide. You can receive payments from thousands of companies worldwide.
The purpose of Payoneer is to provide you with a virtual account to receive global payments. This is because most companies do not usually pay you directly to your bank account. Payoneer comes to eliminate this problem, giving you a virtual account to receive money.
Once you receive the money in the virtual account, you can send the money to your local bank account or withdraw it at an ATM using your debit card.
The main users who use this service are:
- Affiliate marketers: If you are an affiliate marketer, this service is for you. Most of the affiliate companies such as Amazon, Affiliate by Conversant, MaxBounty, ClickDealer, and many more, offer Payoneer as a means of payment. In this way, you can receive payments in your Payoneer account.
- Freelancers: Freelancers can also receive payments for their work in the Payoneer account. Whether you work through Fiverr, UpWork, or WeLocalize, this service allows you to receive electronic payments.
- Vacation Rental Hosts: If you offer rental service in companies such as Airbnb or Home Away, you can receive payments in your Payoneer account. This allows the owners of rental houses to receive payments easily.
Payoneer commissions are the lowest compared to other payment services such as PayPal.
- Between Payoneer Users: Free
- From Customers: 3% Credit cards – 1% Electronic Check
- Through Receiving Accounts: 1% in USD – Free in other currencies
- Through other networks and markets: May vary
- Withdrawal to bank account: Up to 2%
Payoneer commissions are really low if we consider the great service they offer and the facilities.
Payoneer Prepaid Card
If you are already a user and have money in your Payoneer account, you can ask for the prepaid card. This card is used to make purchases, pay suppliers, or withdraw money at an ATM.
This card has annual maintenance of 29.95USD. That is considerably low for a card.
This card has many benefits, and you can use it to buy online or in physical stores without any commission.
The fees for withdrawing money at an ATM are US $ 3.15 / € 2.50 / £ 1.95 per transaction.
Benefits of Payoneer
- You can receive money from companies around the world.
- It facilitates international payments and collections.
- It offers a prepaid card to make purchases, pay payments, or withdraw money from ATMs.
- Transaction fees are low.
- They accept users from all over the world.
Payoneer Review: Final Thoughts
To conclude this Payoneer review, we can say that it is an ideal company for freelancers, digital marketers, SMEs, and individuals. This payment service facilitates international transactions by providing a virtual wallet to receive money from around the world.
The service fees and commissions are relatively low compared to similar companies.
Also, it is a company of high credibility and trust, so it allows the user to feel secure about their money.
In my experience with Payoneer, they have always complied with the terms and have not failed. So I can say that it is a company to trust.
Requirements to open an account in Payoneer
The biggest benefit of Payoneer is that anyone can open a Payoneer account, regardless of the country.
You must only be over 18 years old.
In addition, you must ensure that you enter all your real data in the registration process to be approved.
Once you have the account open, you can start receiving and issuing payments. To request the Payoneer prepaid card you must have a balance in the account to have your application approved.
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