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Review: Payoneer international payment services

Last updated:  

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.

USD 20

Min. Transfer Amount

No limit

Max. Transfer Amount

3 - 5 days

Transfer Speed


Product NamePayoneer International Money Transfers
Min. Transfer AmountUSD 20
Max. Transfer AmountNo limit
Transfer MethodsOnline, Bank Account to Bank Account
Transfer Speed
Minimum transfer time
3 - 5 days
Customer ServiceChat, 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%.

Calculate your transfer with Payoneer

Choose your currency and desired transfer amount. Exchange rates change frequently, so visit Payoneer’s site to get a final quote.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 20 3 - 5 days USD 5.00 0.838 EUR 4,184 Ideal for worldwide business payments to more than 200 countries and 150 currencies. Show details

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Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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 does Payoneer compare to other services?

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 1,000 1 day USD 0.00 0.838 EUR 4,188 No-maximum limit transfers with competitive exchange rates for 100+ currencies. Go to site Show details
GBP 1,000 1 - 2 days USD 0.00 0.838 EUR 4,188 Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
For larger transfers, get no transaction fees and no maximum send limits.
Go to site Show details
USD 1 Same day USD 0.00 0.842 EUR 4,211 Offering no maximum and no minimum limit transfers with $0 fees. Go to site Show details
USD 2,000 1 day USD 0.00 0.838 EUR 4,188 $0 transfer fees with rates at never more than a 2% markup. Go to site Show details
USD 0 1 - 2 days USD 1.99 0.829 EUR 4,144 Special offers like free transfers and better exchange rates available for new customers.
Quick, affordable transfers around the world with both express and economy options.
Go to site Show details
USD 1 1 - 2 days USD 40.00 0.846 EUR
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
USD 1 Within an hour USD 3.99 0.842 EUR 4,209 Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details
USD 50 1 - 2 days USD 0.00 0.841 EUR 4,205 InstaReM offers quick and simple international money transfers with the ability to earn loyalty points. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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.

What do customers say?

Payoneer has been accredited with the Better Business Bureau since 2008 and gets an B+ rating from the organization. When we first reviewed this product in 2018, its TrustScore with TrustPilot was a very low 1.7 out of 10. Many reviewers complained about the poor customer support, and some even claimed their accounts were frozen and they were unable to withdraw their funds.

Trustpilot now rates Payoneer at 4.5 out of 5 stars, with over 15,000 reviews — the majority of which, over 9,000, were written in 2019.

Customer support

Customer service options include online messaging, live chat and telephone. You can reach Payoneer’s customer service at 800-251-2521 from Sunday at 8pm to Friday at 8pm EST.

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



Our team analyzes money transfer providers offering services in the US — from big names to digital upstarts. We rank rates and fees, speed, services and user experience for:

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  • Payoneer
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Learn the details of our methodology and scoring.

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  1. Default Gravatar
    October 29, 2019

    I’m a new Payoneer user. I would like to know the minimum amount I must have in my account before I would be eligible to withdraw from it. What is the minimum amount I can transfer from Payoneer to another Payoneer account?

    • Default Gravatar
      October 30, 2019

      Hi Raheem,

      Thanks for your comment and I hope you are doing well.

      If you are transferring in USD, the minimum is USD20. There is no maximum transfer limit. If you are receiving in USD, the minimum amount to withdraw is USD50 and the maximum us USD9500.

      Hope this helps and feel free to reach out to us again for further assistance.


  2. Default Gravatar
    May 5, 2019

    Good day Sir/Ma’am,

    I am a Payoneer account holder in Nigeria and a friend in the USA is asking if he can send money to me via his Payoneer account. Can it really work?

    • Default Gravatar
      May 7, 2019

      Hi Fred,

      Thank you for contacting Finder.

      Yes, your friend in the USA can send you money from his Payoneer account to your Payoneer account in Nigeria. The money transfer will work as long as its from Payoneer account to another Payoneer account.

      I hope this helps.

      Please do not hesitate to reach out again to us if you have additional questions.


  3. Default Gravatar
    March 10, 2019

    I have a payoneer card and someone in France want to send me money on my payoneer account but he does not use payoneer! what to do? is – it possible ? regards

    • Default Gravatar
      March 12, 2019

      Hi Jay,

      Thanks for getting in touch! Payoneer isn’t personal international money transfers.

      The biggest difficulty is that you can’t load money into your Payoneer account. You can only get funds into your account through payments from Payoneer-approved businesses.

      Furthermore, not all Payoneer members have access to the Make a Payment service, which lets members transfer funds to others. You need to actively receive payments to enable this service.

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.


  4. Default Gravatar
    February 3, 2019

    Hi, is it possible to send money from my Payoneer account to my brother´s bank account in the US? Are there any charges related to this transaction?

    • Avatarfinder Customer Care
      February 4, 2019

      Hello Agus,

      Thank you for your comment.

      I’m afraid you’re unable to send money directly from your Payoneer account to your brother’s bank account. But you can transfer funds from Payoneer to Payoneer. You can withdraw your funds and transfer them directly to your bank account, with the same account names, which comes with a fee.


  5. Default Gravatar
    January 23, 2019

    Hello! Thanks for this post. I want to make a payment using Bank of America to a Payoneer user. Is this allowed? I’ve tried but I don’t know how.

    • Avatarfinder Customer Care
      January 27, 2019

      Hi Allie,

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

      Yes, it is possible for you to send payment using your Bank of America account to a Payoneer user. You can do this by first asking the Payoneer user for his/her Global Payment Service receiving account details which include the bank name, account number, and routing number.

      Once you have those details, you can then use them to do a local bank transfer. Depending on Bank of America, you can do the payment online or at one of their bank branches. The payment typically takes 2-5 business days before it reflects on your recipient’s account.

      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
    October 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
      October 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. :)


  7. Default Gravatar
    October 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

    • Avatarfinder Customer Care
      October 8, 2018

      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!


  8. Default Gravatar
    June 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.

    • Avatarfinder Customer Care
      June 12, 2018

      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!


  9. Default Gravatar
    June 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?

    • Default Gravatar
      June 9, 2018

      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.


  10. Default Gravatar
    May 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 ?

    • Avatarfinder Customer Care
      May 9, 2018

      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!


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