Payoneer international payment review December 2018 |

Review: Payoneer international payment services – December 2018

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Send and receive worldwide payments.’s rating: 3.25 / 5.0


How’d we get our score?

Fees & rates: 3.0 / 5.0
Speed: 4.0 / 5.0
Services: 3.0 / 5.0
User experience: 3.0 / 5.0

Payoneer is a payment service that serves marketplace and business owners who want to pay their contract workers, and contract workers and freelancers who want to receive payments.

If you regularly pay out funds to freelancers, or are a freelancer who needs a way to bill clients and receive payments, Payoneer might be right for you.

Product NamePayoneer International Money Transfers
Min. Transfer AmountUSD 20
Max. Transfer AmountNo limit
Transfer Methods
Transfer Options
Transfer Speed
Minimum transfer time
3 - 5 days
Customer Service
Chat, Email
Available CurrenciesAUD, CAD, CNY, EUR, GBP, INR, JPY, USD


  • Payments to and from 200+ countries
  • Make payments to any Payoneer user
  • Free to sign up


  • Not all countries served

Pay and get paid with Payoneer

With Payoneer, freelancers can bill their clients and accept payments in more currencies, while businesses can pay overseas suppliers or send mass payments to contract workers. And Payoneer offers 24/7 customer support from a multi-lingual customer care team.

With Payoneer you can:

  • Receive payments. Send a payment request and get paid in your Payoneer account. You can withdraw your funds at an ATM or transfer them directly to your bank account, which comes with a fee.
  • Make payments. Send and receive payments between Payoneer accounts free of charge.
  • Send mass payments. Make mass payments to your freelancers.
  • Automated payments. Set up automated payments.
  • Escrow payments. Make secure B2B transactions with Payoneer’s escrow payments.

Payoneer exchange rates

While using Payoneer, you may be paid in one currency and withdraw the funds in another currency. In that case, you’ll pay a currency conversion fee of up to 2% above the mid-market rate. In some countries, that fee may be 2.75%.

How much does Payoneer cost?

Opening a Payoneer account is free, and Payoneer offers different ways to send and receive money.

Receiving money

Make a Payment
Through Make a Payment, making and receiving payments as a Payoneer customer is free.

Global Payment Service
If you’re enrolled in the Global Payment Service, Payoneer will give you receiving accounts for U.S. dollars (USD), euros (EUR), British pounds (GBP) and Japanese yens (JPY). This way, you can receive different currencies.

  • For EUR, GBP and JPY: Free to receive money
  • For USD: 1% fee

Receive payments from customers

When you use the Billing Service to receive payments, you’ll pay different fees for payment by credit card or eCheck.

  • Via credit card (all currencies): 3% fee
  • Via eCheck (USD): 1% fee

Marketplaces and networks

Marketplaces like Fiverr, Upwork and Airbnb set their own fees for withdrawing payments. Find rates on the platform you work with.

Withdrawing money

You’ll pay a different fee depending on whether you’re withdrawing the funds in the same currency or a different currency.

  • Withdrawing money from your Payoneer account to a bank account in a different currency will cost you up to 2% above the mid-market rate.
  • If you’re moving money into your bank account in the same currency you’ll pay $1.50 for the transaction.

If you are a high earner, you may have lower fees.

What types of services does Payoneer offer?

Payoneer offers three different payment services.

  • Mass Payout Services. Payoneer helps marketplaces like Upwork and Airbnb send payments to freelancers and contractors.
  • Billing Service. If you’re a business owner or a freelancer, you can request payment from your clients.
  • Make a Payment. Send money to any other Payoneer account. You need to actively receive payments before you can access Make a Payment.

When you pay someone through Payoneer, the funds go into their online Payoneer account. After that, the payee has options for withdrawal:

  • A prepaid Mastercard from Payoneer
  • Local bank transfer in more than 200 countries. Payoneer calls this the Global Payment Service.
  • Payoneer’s Make a Payment to send currency to other Payoneer accounts. For example, a manager can receive payment for a job, then pay employees from the same account.

What types of transfers does Payoneer support?

All transfers go through the Payoneer platform. You can send payments by:

  • Credit card
  • eCheck
  • Local bank transfers

Your payee will receive your payment in their Payoneer account. The transfer should take no more than two hours. Recipients can withdraw funds by:

  • Prepaid Mastercard from Payoneer
  • Local bank transfer

Payoneer doesn’t offer physical branches. All transactions are processed online.

Pros and cons of Payoneer


  • Convenient pickup methods. With simple and quick bank transfers and the Payoneer Mastercard, Payoneer provides convenient, easy-to-understand ways to access your funds.
  • International acceptance. Payoneer supports sending and receiving funds to and from more than 200 countries — many more than with other providers.
  • Low domestic rates. It’s free to send and receive funds using Payoneer’s “Make a Payment.” For international transfers, you’ll pay a bit more.
  • Low minimum transfer amount. Transfer at least $20 for Billing Service or $50 for Make a Payment


  • Limited international transfers. Payoneer is not intended to support international transfers that aren’t a part of purchasing or billing for a service. You cannot load funds onto your Payoneer Mastercard, and withdrawing funds across currencies carries fees.
  • High exchange rates. Payoneer takes an average 2% cut above mid-market rates when converting currencies, which can be lower than some banks but is generally higher than other online services.
  • Limited access to Make a Payment. Not all Payoneer account holders can use Make a Payment. Typically, you’ll first need to receive funds from one of Payoneer’s partners or through Payoneer’s Global Payment Service.
  • Fees for receiving and withdrawing money. You may need to pay a fee for both receiving money in your Payoneer account and withdrawing money. Many money transfer services charge only for receiving or sending money, not both.

How do I send and receive money through Payoneer?

Before you can send or receive money, you’ll need to register for an account.

What do I need to begin using Payoneer?

To apply for a Payoneer Prepaid Mastercard, you will need:

  • Your name, address, phone number and email address
  • Your date of birth
  • Your Social Security number
  • A unique account password and memorable security question
  • Your bank’s name, your account number and the routing number

Sending money

To send money to another Payoneer user, you need access to Make a Payment. Typically, Payoneer will only give you access if you’re already receiving payments through its partners or its Global Payment Service.

To make a payment:

  • Log in to your Payoneer account.
  • Under the “Pay” tab, click “Make a Payment.”
  • Enter your recipient’s Payoneer email address, the amount you want to transfer, the type of transfer you’re making and relevant notes.
  • Click “Make a Payment” button.

You can see your recent payments by clicking “Payments History” under the “Account Activity” tab.

Steps to creating an account with Payoneer

  1. Go to Payoneer’s website and click “Sign Up.”
  2. Choose whether you are creating an account for personal or professional use. Enter your name, email address and date of birth. Click “Next.”
  3. Enter your address and phone number. Click “Next.”
  4. Your Payoneer username will be the email address that you entered in Step 2.Enter and confirm a password, and choose a security question and answer. Enter your Social Security number. Click “Next.”
  5. Enter information for the account you’ll receive your clients’ payments to.Including the currency of your bank account, your account number and routing number and the name of your bank. Agree to Payoneer’s terms of service and click “Next.”
  6. Check your email for a link asking you to confirm your Payoneer account.Once you click the link, you will be redirected back to Payoneer’s site. You will be asked to choose an additional two security questions. Click “Submit.”
  7. Payoneer will run a credit check to determine if you qualify for use of the Payoneer Prepaid Mastercard.This will take up to two business days. If you’re approved, you will soon receive an email update that your account has been fully unlocked. You should receive your Payoneer Prepaid Mastercard shortly.
  8. Receive your Prepaid Mastercard and start making payments.Once approved, you can begin sending and requesting payments through Payoneer. To confirm when your Payoneer Prepaid Mastercard will arrive, click the green “Click Here” button next to the “Application Status” bar.Have your recipient’s Payoneer email address on hand, and then transfer funds within your account limits. Your transfer will be complete within two hours. To check on your transfer, click “Payments History” under the “Account Activity” tab.

Bottom line

Payoneer has its benefits and drawbacks. The company makes it easy to make payments to freelancers and to receive payments from clients, but compared to traditional online international money transfer providers, the fees are on the higher side.

Benefits and drawbacks

Global services150 different currencies to and from 200+ countriesNot all countries served
Transfer optionsMake payments to any Payoneer user online and they can receive the funds within two hours; free to send and receive money through Make a PaymentNot all Payoneer users have access to Make a Payment
Pickup optionsWithdraw funds through a Payoneer debit card or local bank transfer; low fees if withdrawing in the same currencyNo scheduled payments; fees up to 2% above the mid-market rate if withdrawing in a different currency
FeesFree to sign up; low fees for withdrawing in the same currency2% fee above mid-market rate for withdrawing in a different currency
Exchange rates2% fee above the mid-market rate may be lower than many banksHigher than other money-transfer providers (forex, P2P transfers, etc.)
Maximum amountsNo limit for local bank transfers through Billing Service; high limit for Make a PaymentFor Billing Service, $2,000 maximum for credit card payments and $5,000 maximum for eCheck; $25,000 a day or $50,000 a month
ConvenientMake payments worldwide and to any Payoneer customerMay not have access to all payment features
Customer serviceTelephone (6 a.m.–6 p.m. EST Monday–Friday), live chat (6 a.m.–3:30 p.m. EST Monday–Friday), online messaging/emailTelephone and live chat not available 24/7

Compare Payoneer money transfers with other global brands

Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds overseas with our money transfer partners.

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USD 0 3 - 5 days USD 0.00 0.877 EUR 4,383 Transfer up to $500,000 with no minimums and no fees. Go to site Show details
USD 1,000 1 day USD 0.00 0.876 EUR 4,381 No maximum limit, no fees and competitive exchange rates for 100+ currencies. Go to site Show details
USD 1 1 - 2 days USD 7.00 0.877 EUR
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1 - 2 days USD 0.00 0.874 EUR 4,372 Get live quotes on exchange rates and take advantage of no transaction fees with no limits on transfers. Go to site Show details
1 - 2 days - - RemitMoney specializes in transfers to India, offering 24/7 customer support and easy tracking. Show details

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Kevin Joey Chen

Kevin Chen is a world-travelin', copy-writin', Game of Thrones-watchin' credit cards writer for When he's not crunching the numbers on bonus points and comparing APRs, you can find him flying around the world in search of the perfect beer.

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US International Money Transfers Offers

Important Information*
XE Money Transfer

Transfer up to $500,000 with no minimums and no fees.

WorldRemit International Money Transfers

Use promo code FINDER to send your first transfer with no fee.
Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

World First

No maximum limit, no fees and competitive exchange rates for 100+ currencies.


Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

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14 Responses

  1. Default Gravatar
    RahulOctober 17, 2018


    My clients have sent me 3 payment from his Credit Card. But the payment is still under review. How much time it will usually take to process the payment?

    I and my client have submitted all the documents Payoneer asked for. Its already been 3 working days.

    • Default Gravatar
      joelmarceloOctober 17, 2018

      Hi Rahul,

      Thanks for leaving a question on finder.

      If your request for approval is still under review it can be that a document or some details are still missing or still for approval. The approval department should have sent you an email to request what is missing for the review of your request. In case you cannot find any email from their support we suggest you directly contact Payoneer again. They also have a live chat and they can give you real time answers to your questions. I hope this gets resolved ASAP.

      Please send me a message if you need anything else. :)


  2. Default Gravatar
    JonasOctober 6, 2018

    I work online for a company in Russia. How do I receive payments to my payoneer account from the company in Russia? Please answer ASAP.Thanks

    • finder Customer Care
      JoshuaOctober 8, 2018Staff

      Hi Jonas,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      You can receive payments to your Payoneer account by requesting your Russian company for payment. If your Russian company has a Payoneer account, then your email address should be enough. However, if the Russian company wants to send it through your bank account, Payoneer has a virtual bank as well. All you need to do is provide the information of your Payoneer bank to your Russian company.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


  3. Default Gravatar
    AbhishekJune 12, 2018

    Hi, If i receive payment through Credit card, Echeck and online transfer Via Payment request of payoneer. How many days it will take to reach in my account in India from USA client.

    • finder Customer Care
      JoshuaJune 12, 2018Staff

      Hi Abhishek,

      Thanks for getting in touch with finder. I hope all is well for you. :)

      Generally, once the money is cleared, you should see your money in your Payoneer within 2-5 business days. The speed of the transaction may also depend on the amount of money you will receive.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


  4. Default Gravatar
    MarJune 8, 2018

    After your client sent you the confirmation that they already paid you how many hours or days will it show on your payoneer acct?

    • finder Customer Care
      AshJune 9, 2018Staff

      Hi Mar,

      Thank you for contacting finder.

      If your client has sent you the payment directly to your Payoneer account, it will take 15 minutes up to 2 hours for the funds to be available. You will receive an email confirmation once there has been a deposit made to your account.

      I hope this helps.

      Let us know if there is anything else that we may assist you with.


  5. Default Gravatar
    EveMay 9, 2018

    Hi, payoneer / first Choice Pay wasn’t working anymore since the beginning of April. I see this article is dated 24 april 2018. Is it working now ?

    • finder Customer Care
      JoshuaMay 9, 2018Staff

      Hi Eve,

      Thanks for getting in touch with finder. I hope all is well for you. :)

      Yes, Payoneer, as well as FirstChoice Pay, are both working now.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!


  6. Default Gravatar
    TriciaJanuary 26, 2018

    I am a non-resident of USA. I live in the Caribbean. Trinidad & Tobago to be exact. Can I sign up for a Payoneer account to receive payments from Amazon as a seller? And if so, which one of the accounts do I sign up for?

    • finder Customer Care
      RonMarch 11, 2018Staff

      Hello Tricia,

      Yes you may do so, kindly coordinate directly with Amazon if they do have payment options to Payoneer. If they do, you can utilize 2 payment options from Payoneer.

      1. Global Payment Service is for companies and online marketplaces that make mass payouts.
      2. If you’re a freelancer or contractor, use Payoneer’s Billing Service and Make a Payment.

      You just simply need to sign up and utilize the payment options they have available depending on which is applicable for you. As well, you may directly contact Payoneer for further assistance.

      Hope this helps!

      All the best,


    • Default Gravatar
      LucilaJune 8, 2018

      first time i received payment and i make withdrawal to my local bank account and the transaction status is “Completed” for 1day but the funds is not yet in my bank account how to know if my funds are already in my bank account ?

    • finder Customer Care
      JoanneJune 9, 2018Staff

      Hi Lucila,

      Thanks for reaching out.

      Minimum transfer time for Payoneer International Money Transfers is 3-5 business days.

      Best Regards,

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