Close Menu
eCompareFXeCompareFX
    Friday, May 9
    eCompareFXeCompareFX
    Facebook X (Twitter) Pinterest
    • Cryptocurrency
    • Forex
    • Trading Strategy
    • Blockchain
      • Company Reviews
    • Money Transfer
    • Finance
    • FX
    • Broker Review
    eCompareFXeCompareFX
    Home » Payoneer – Is it the most reliable Online Money Transfer Company?
    Company Reviews

    Payoneer – Is it the most reliable Online Money Transfer Company?

    AdminBy AdminSeptember 5, 2019No Comments7 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Payoneer Review by eCompareFX
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Company Overview

    Payoneer as a company was founded by Tal Yuval and incorporated in the year 2005.

    Sending and receiving funds locally or globally is an essential part of any business and transaction. While the banks are there for most monetary operations and transactions, folks who buy and sell products or services on the internet would require some consistent service and online global payment companies that they can trust to execute their business transactions.

    As much as PayPal is popular among most businesses online, it has some drawbacks that make people seek for other reliable alternatives. For instance PayPal is known to limit accounts, and while this is discouraging, we can understand it is as a result of their keeping up with security measures which is a plus.

    With several online business operators seeking for a way out on the web, many have followed the path of Payoneer; hence we have written this Payoneer Review for you to understand some of the benefits of using it. You will know more about its transaction fees, security, customer support, and much more. And if you have been thinking about using Payoneer for personal or business purpose, we believe you are on the right track here.

    ATTENTION: You can get free $25 bonus today when you load $100 in your Payoneer account by using this Registration Link.

    Payoneer is specially developed to offer secure online transactions for its end-users. Once you open an account with Payoneer which is free to do, you will be provided a Payoneer MasterCard which is just like a regular bank ATM card i.e. just like a basic secure plastic card. Payoneer Mastercard is one of the most fascinating things about Payoneer, as you can use this card at any ATM around the World to withdraw funds, and it can be securely used for online payments. And where some other local bank cards fail, Payoneer card is known to work like a charm.

    Payoneer also provides you the opportunity to own a dedicated International Bank Account; basically a USA bank account which serves as the point of transaction for all funds you will receive or pay out via Payoneer. Using Payoneer affords you the privilege to receive payments from international companies, globally and as a user, you will be issued your individual account ID and routing numbers. It is these credentials that you will need to provide to businesses that seek to pay you via bank account. The only drawback with this bank account is that its holder won’t be able to receive payments via wire transfer and from other individual account holders. Apart from this, it’s a great advantage to own a US bank account via Payoneer, as we all know that it’s practically impossible for nonresidents that do not meet such stiff requirements.

    While other global online payment companies are known for high transaction fees, Payoneer will only take 1% of the payment you receive which is obviously the lowest as compared to other providers.

    How Payoneer works

    The company provides 3 different payment services as listed below:

    [su_list icon=”icon: arrow-circle-right” icon_color=”#3263c0″]

    • Payoneer Mass Payout Services: Payoneer as a global transfer payment company helps local marketplaces send payments to contractors and freelancers.
    • Payoneer Billing Service: As an account holder who is either a freelancer or a business owner, you have the ability to request payment from your clients.
    • Payoneer ‘Make a Payment’: This allows you to send fund to any other Payoneer account holder. With this option, your account will need to actively receive payments before you can utilize or access ‘Make a Payment’.

    [/su_list]

    Make a Payment

    Practically, with the ‘Make a Payment’ option, initiating & receiving payments as a Payoneer account holder is free.

    Global Payment Service

    In case you signed up for Payoneer Global Payment Service, the company will provide you separate receiving accounts in (USD), (EUR), GBP) and (JPY). This means you have the capacity to receive different currencies.

    [su_list icon=”icon: money” icon_color=”#2b6e9f”]

    • When transacting in GBP, EUR, and JPY; it is free to receive money
    • When transacting in USD, a 1% fee is applicable

    [/su_list]

    Receiving payments from clients

    When you utilize the Payoneer Billing Service to receive payments, diverse fees for payment will be applied as follows:

    [su_list icon=”icon: money” icon_color=”#2b6e9f”]

    • If via credit card (for all currencies): 3% fee is applied
    • If via eCheck ( only USD): 1% fee is applied

    [/su_list]

    Payoneer for Freelancers

    Payoneer is indeed a dream come true for most freelancers as majority of freelancing platforms including those of Amazon, Fiverr, & Upwork – among others are fully supported by Payoneer. In the past, freelancers or internet money makers used to have issues with receiving their hard-earned incomes; however since Payoneer came into operation – online marketers, freelancers, and other internet businesses now conveniently receive their payments straight into their Payoneer account and withdrawal process is as simple as ABC (using the Mastercard or bank withdrawal).

    With other payment providers come some extra charges. However it is Free of Charge for transactions executed between Payoneer Account holders. This means that if you send or receive funds with another Payoneer account holder, you both will not be charged transaction fee. This is a big plus to save some money.

    While your money is domiciled in your Payoneer US Bank Account, you can also receive your money in your Local Bank Account. It is very simple – just follow basic online process to transfer funds from your Payoneer account direct to your local bank account and then quickly withdraw your money. The transaction charge with local bank transfer is very minimal when compared to using other money exchange services.

    Payoneer Fee Charges

    Yearly Charges: With regards to account maintenance charged by the company, Payoneer deducts just about $29.95 annually.

    Payoneer ATM Withdrawal Charges: For every ATM withdrawal made with the Payoneer Master Card, you will be charged a fee of $3.15.

    Other Facts:

    As a Payoneer account holder, you have the capacity to transfer minimum of $20, and the maximum amount is “Without Limit” – and without charges.

    As a Payoneer account holder, you can do up to 10 transactions in one day from ATM & with regards to POS terminal usage – only 9 transactions every 24 hours is allowed.

    Also you can withdraw a maximum of 5000 daily ($/€/£), however this could be different for different locations/countries.

    When making withdrawal from ATMs, you have to choose account type as either “Checking” or “Current”.

    Payoneer Local Bank Money Transfer Speed  Usually between 3 – 5 days
    Available Currencies USD, AUD, CAD, CNY, EUR, GBP, INR, JPY

     

    [su_row][su_column size=”1/2″ center=”no” class=””]

    Payoneer Pros

    [su_list icon=”icon: thumbs-o-up” icon_color=”#38d856″]

    • It allows payments to and fro more than 200 countries
    • An account holder can swiftly initiate payments to any other Payoneer user
    • It is 100% Free to sign up

    [/su_list]

    [/su_column]

    [su_column size=”1/2″ center=”no” class=””]

    Payoneer Cons

    [su_list icon=”icon: thumbs-o-down” icon_color=”#d73a3a”]

    • It is not available for use in all countries

    [/su_list]

    [/su_column][/su_row]

    [su_list icon=”icon: hand-o-right” icon_color=”#3263c0″]

    • Minimum transfer amount: As stated before, $20 minimum is for Billing Services; and $50 minimum when Making a Payment
    • Maximum transfer amount: With regards to Billing Services, you are allowed $2,000 transfer to a credit card and you can transfer $5,000 to e-Check. For making a Payment, you can transfer a maximum of $25,000 daily and $50,000 monthly. For Local bank transfers, no limits!
    • Transfer options and Delivery speed with instant online transfer is usually within two hours
    • Customer service response options: Via telephone, live chat or online messaging

    [/su_list]

    Exchange rates with Payoneer

    With Payoneer, you can get paid in one particular currency and then also withdraw such funds in some other currency. With this, it means that you will be required to pay a currency conversion fee of about 2%. In some other locations/countries, this conversion fee may be up to 2.75%.

    In conclusion, Payoneer –

    Transfer Fees is one of the lowest in the marketplace,

    Security is highly commendable

    Customer Service is excellent

    Transfer Speed is swift

    And the overall service is user-friendly.

    Payoneer Review
    • Security
    • User Friendliness
    • Fees & Rates
    • Network & Coverage
    • Customer Service
    4.2

    Summary

    Payoneer is an exceptional global online payment provider and we can 100% recommend its service to interested users. Its security is perfect, and is absolutely a cost-effective and secure method to send & receive funds without stress.

    • Review on DFID
    • Review on Trustpilot
    • Review on Sitejabber
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleSkrill – Is it the most trusted International Money Transfer Company?
    Next Article Cryptocurrency is the New Money of the Digital era
    Admin

    Related Posts

    2020 Online International Money Transfer Company Review: CurrencyFair

    July 29, 2020

    Western Union Money Transfer: An Overview Of What You Should Expect

    April 18, 2020

    A Thorough Review of Ria Money Transfer

    April 17, 2020

    Comments are closed.

    Latest Post

    Taking Control: When Medication Becomes Your Weight Loss Ally

    By Victor ElliotMay 4, 2025

    Are you struggling with weight loss despite your best efforts? A medical weight loss program…

    Stay Dry and Comfortable: Smart Layering Under Your North Face Rain Jacket

    April 24, 2025

    When Is The Right Time To Invest In A Professional Web Development Company?

    March 21, 2025

    The GLP-1 Revolution: How These Wonder Drugs Are Transforming Lives?

    February 17, 2025

    Catch Their Eye: Creating Social Media Content that Converts for Small Businesses

    February 9, 2025
    Categories
    Blockchain Broker Review Business Company Reviews Cryptocurrency Featured Finance Fitness Forex FX Health Medical Imaging Money Transfer News SharePoint Software Trading Strategy Web Design Web Developer Agency
    Popular Posts

    Traders Estimate RBI’s Forex Strategy As INR Thrives

    August 12, 2020

    AUD/USD Declines At The 100 SMA

    June 1, 2020

    Some Valuable Cryptocurrency Insights You Should Know About!

    January 27, 2021

    Xtrade: Forex Broker Review of 2020

    July 31, 2020
    About
    About

    EcompareFX: Your ultimate source for insightful articles on health, news, education, environment, technology, sports, entertainment, and much more.

    Editor's Pick

    How Shipping Container Offices Enhance Your Business’s Sustainability Goals

    December 15, 2024

    What Commercial Painting Services Boost Your Building’s Aesthetic Value?

    December 11, 2024

    Portable Mini Storage Containers – Efficient, Mobile Solutions For Businesses

    October 14, 2024
    13 October is the day to transfer money to your son
    Australian Dollar running low against USD after a solid gain amid US-China trade deal
    MoneyGram sends your money in seconds with the second-largest money transfer company
    How long does it take to send money by using OrbitRemit
    Copyright © 2024. Designed and Developed by EcompareFX
    • Contact
    • Disclaimer
    • Write For Us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.