Payoneer-Review-Featured
Review of: Payoneer Review
Product by:
Lena.H.Goff

Reviewed by:
Rating:
5
On March 31, 2016
Last modified:June 10, 2016

Summary:

Sending and receiving payments nationally or internationally is a necessary part of any business. Usually, people use their bank accounts to perform this task, but those who are buying and selling products or services Online need some reliable service that can be their friend in their business transactions.

PayPal is popular, and mostly people use it to send and receive payments Worldwide, but now it’s a norm that people are ranting on different forums that PayPal made their account limited; that’s the dark side of PayPal because they do this when an account holder sends or receives significant payments.

I think it’s entirely unfair because we are here to do business not to follow their verification procedure after every few months. After deactivating my PayPal I moved to Payoneer, that’s also popular among people, and it’s now more than a year I’m using it, so I decided to write a review of Payoneer for my readers so they can understand what’s the best option these days.

Important: If you create a Payoneer account using this Registration Link, You’ll get free $25 bonus when you load $100 in your Payoneer account.

Payoneer Detailed Review [2016]

Introduction

Payoneer is designed to provide Online transaction services to its users. The users get a Payoneer MasterCard, and they can use it just like an ordinary plastic card issued by their bank. It was founded by Yuval Tal and the birth year of Payoneer was 2005.

What Services it offers?

Payoneer Services List

Your own International Bank Account: Yes it’s possible. You can receive payments from international companies; Payoneer account holder gets his personal account identification and routing numbers, and that user needs to provide this detail to businesses that want to pay him via bank account. It’s just like your own US based bank account. But unfortunately, you can’t receive payments via wire transfer and from individual account holders to your account. So no need to open a bank account in the US, that’s almost impossible for nonresidents.

Payoneer US Payment Check

Note: Payoneer will only deduct 1% of the payment you’ll receive, that’s the lowest as compared to other Online payment services providers.

Blessing for Internet Earners: Many freelancing platforms including Fiverr, Amazon and Upwork are supported by Payoneer. Online money makers had a problem in receiving their earnings when Payoneer wasn’t there, but now marketers, freelancers, and other Online earners can receive their payments directly in their Payoneer account and withdrawal process is hell easy.

Important: Indian freelancers can save up to 42% service and conversion charges by using Payoneer because they can get their freelance earnings in Indian Rupees directly in their bank accounts.

Indian Freelancers save 42% service charges with Payoneer

Free of Charge Transactions between Payoneer Accounts: Among all features I like this one the most, if receiver or sender have Payoneer accounts then no charges will apply to transactions. Even a local bank charges for this kind of interbank transactions but Payoneer is unique and surprising one.

Signup-Payoneer

Get Money in your Local Bank Account: You can also transfer money from your Payoneer account to your local bank account and then you can quickly withdraw money. Once I moved $5k from the UK to my country using money exchange services, and I paid $400 as transfer charges, that was a huge loss to me. But Payoneer charges a low fee for it.

Get payment to Local bank account

Payoneer Mastercard: I Signed-up for Payoneer because of this MasterCard. This one is the most powerful thing in Payoneer. Payoneer provides its account holders with this MasterCard, and the user can use this card on any ATM in the World to withdraw cash, and also he can use this card for Online payments. I used it to buy SEMRush and Long Tail Pro, and I bought both tools in just one click. The Strange thing is that where my local bank’s VISA card doesn’t work, Payoneer works like a charm.

Payoneer Mastercard

Payment Request: Just like PayPal, you can request payments from other companies. It’s just like an invoice for your service or product.

Signup-Payoneer

How much “Payoneer” Charges?

Annual Charges: As account maintenance charges Payoneer deducts approximately $29.95 per year. But you can pay only $4.95 if you signup with this link because you’ll get a bonus of $25 by signing up with the above link, but after adding $100 to your account. In simple words, signup with the given link and add $100 to your account and you’ll get $25 extra.

ATM Charges: On every transaction you’ll be charged $3.15.

Other Charges:

Check out the below image for all charges detail of Payoneer.

Payoneer Charges Sheet

Signup-Payoneer

FAQs and Limits

  • You don’t need to convert funds into your currency; Payoneer does that by itself, and you’ll get payment in your own country’s currency.
  • Payoneer account holders can transfer minimum $20, and maximum $1000 and there is no charges on it.
  • But there is no limit for money if you’re receiving it via US payment service.
  • You’ll receive your Payoneer MasterCard within 15 to 20 days once your application is approved by Payoneer, in some cases, it can take more time. But I received my card within ten days.
  • Payoneer users can do ten transactions in a day from ATM and for POS terminals, only nine transactions per 24 hours are allowed.
  • You can maximum withdraw 5000 per day($/€/£), and the amount could be different for different countries.
  • During withdrawal from ATMs choose account type as “Current” or “Checking”.

Signup-Payoneer

2 COMMENTS

  1. This company is a scam; they are stealing and withholding many people’s payments without reason and customer service will not help anyone. Stay away from this company if you value your money, time and relationship with clients that are paying you. Payoneer has stolen $1,100 USD from me.

  2. I’m using this service since 2014 and without any doubt its one of the most convenient service I’ve ever used. Using it with PayPal but most of the time Payoneer. Ordered one more card for my relatives also yesterday but using the method added in this post. thanks anyway.

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