Payoneer Review – A Guide to Create Account & Receive Money

If you are a small business, freelancer, consultant or any professional who receive money from all over the world then Payneer can be a good option for you.

Well I have been working as a freelancer online for 10 years now. In this line of work you don’t need to see your employer face to face because you work from home.

So for payments they pay you online through wire transfer.

Every freelancing job involves online payment. My first online payment company was through PayPal.

But the deductibles were very high so I started looking for other online payment services.

I found out Payoneer, another popular online payment company.

payoneer review

After using it for 2 years now I found out both PayPal and Payoneer have advantages as well as disadvantages in them.

So I decided to write an article putting Payoneer in the spotlight and comparing it with PayPal.

Let us see.

How Does Payoneer Work?

Payoneer works just like PayPal or any other online payment company.

You go to the Payoneer website, sign up there (we discuss in next paragraph) and create an account.

Once you have created your account with Payoneer you can send Payoneer identification account number and routing number to the company that needs to pay you.

For example right now I am working as a freelancer with Elance, I will give my Payoneer account detail to Upwork and all my due payments will be sent to my account.

So Payoneer is a bridge between you and your employer. Here is the list of some services you can use with Payoneer.

  2. 99Designs
  3. Airbnb
  4. Elance
  5. Getty Images
  6. Clickbank
  7. People Per Hour
  8. CPA Lead
  9. eBay
  10. Upwork Corporation and more than 2000 companies.

How to Create Account and Receive Money

Creating account with Payoneer is very simple. Visit this Payoneer Signup Page & click on Signup. You will also receive a signup bonus of $25.

You can join as an Individual or a company. If you are a professional without any registered company then choose Individual.

payoneer signup

There are 4 steps to signup-

  1. Getting Started: Enter your name, email & date of birth
  2. Contact details: Write your address & phone number
  3. Details: Enter account password & choose security question & answer
  4. Almost Done: Enter bank details, check the TnC check box & click on Submit.

Fill up the information correctly and you are done.

Then your application goes for the review process and after weeks they send you email confirmation.

Once your account has been created you login and send a payment request to the company you wanted to withdraw your money from.

While requesting payment you have to keep few things in mind.

  1. The Amount you want to withdraw
  2. Payment Types – It means the party you are going to receive your payment from. You have to choose one from the dropdown menu. Mine was Elance.
  3. Payer Details – Fill the details about the payer in my case it was again Elance.

Click Pay Now and you will be paid through the Payoneer right in your back account.

Payoneer Master Card

Payoneer Master Card In last paragraph we saw transferring money to your local bank account. You can also activate your prepaid master card.

You can use the card at ATMs to withdraw cash.

You can load money using Visa or MasterCard to your card. However there is a daily cash withdrawal and purchase limits.

Payoneer Fee Structure

For every transaction Payoneer is going to deduct money just like PayPal or any other wire transfer service.

Although fees keep changing but we are giving you latest figures that were available the day we wrote the article.

There are three ways you can withdraw your money through Payoneer.

  1. Payoneer MasterCard
  2. ATM Withdrawals
  3. Direct Bank Transfer

For each of them Payoneer charges a fee whenever you make a transaction.

Payoneer MasterCard

  • $5 for Card Activation in US and $10 outside US.
  • For Loading Payment (Standard Edition) it is $1.5 and for Immediate it is $4 each time payment is loaded.
  • $3 for monthly card account maintenance
  • For Card Replacement in US it is $12.95

ATM Withdrawals

  • ATM Withdrawal for Per Transaction in US is $1.35 and outside US $2.15.
  • ATM Decline fee is $.90
  • Inquiry fee is also $.90

Direct Bank Transfer

This is the most popular way for transactions among users. For every bank transfer the Payoneer is going to charge $2 for every $100 you transfer.

So for example if you want to transfer $1000 then you have to pay $20 in transaction fee and you receive only $980.

For less than $75 it may charge $3 per transaction.

Payoneer Vs PayPal

Payoneer Vs PayPal It has been said that Payoneer could be a replacement for PayPal. Those of you don’t like using PapPal because of transactional fees can go for Payoneer.

So let us do small comparison between Payoneer and its competitor PayPal.

When it comes to global transaction that means people living outside US then Payoneer is better than PayPal.

Transactional Fees

For every transaction of $100 in India you can save up to $3 using Payoneer. PayPal would charge $5 every transaction (Plus extra charges) on the other hand Payoneer will deduct only $2 (if amount is over $75).

Smooth Transaction

Unlike PayPal, in Payoneer there is no manual work required like initiation. PayPal takes 2 to 4 business days for transferring money to your account however Payoneer takes only 24 hours.

So Payoneer is smoother than PayPal.

Daily Withdrawal Amount

Moreover daily withdrawal amount is also higher for Payoneer compared with PayPal. In Payoneer you can withdraw up to $5000 every day.

Extra $25 Bonus for Indian

Moreover Payoneer India is offering extra $25 bonus for every sign up. So these are advantages of Payoneer over PayPal.

Disadvantages of Payoneer

However a review is not complete unless I give you other side of the picture. Sometimes it happens that Payoneer withholds your funds and does not pay on time.

Their customer service is also not good if you are living outside US.

So these can be few issues with using Payoneer.

Which one to Choose?

Finally I would suggest you to use both of them. If you trust PayPal then continue with it.

However you want to save money then Payoneer can be a better choice. Try to give a shot to Payoneer & check what can it do for you.

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Hi, I am Pritam Nagrale. I have been successfully making money online since 2004. I have tried almost all the make money ideas and work from home jobs exist on internet. I know what works and what does not! What I write on my blog is my practical experience. You can find all the legit information on MoneyConnexion that will help you to make money on the side.


  1. In lixsense whil updating payment method with payoneer, i have been asked that i sould have to maintain minium $ 50 with that true .if it is then i m not intrested for this site.
    Expecting quick response

  2. Hello there My name is Imtiaz Hussain and I am a trader. My traders from UK and USA have been depositing my money in Payoneer in my two accounts. since 15 Dec 2015. More than 150 Million US Dollars are in my two accounts in payoneer. But it is not releasing my money and not providing good
    standing official statement of accounts via e-mail. They are not opening my accounts Payoneer Virtual US Bank Accounts and Payoneer Virtual US Bank prepaid cards are also not yet issued. However good news is that Payoneer Community FORUM have promoted me Level-2 which is I think my great success

  3. Have been using Payonner since 2012 and I found them as the most reliable payment solution for me. I get paid easily from freelance marketplace Fiverr and UpWork. I get deposited to American bank account associated with Payoneer account.

  4. One of the biggest issues with Payoneer is inbound payment inconvenience. Those who pay from outside Payoneer will often encounter card payment/transaction failures before they figure out how to do it properly. This issue doesn’t seem to be the case with Paypal and other competitor services. A client is now trying to pay me with his card but struggles to do so, encountering multiple transfer rejections. Have also heard a lot of complaints regarding the same issue from other users.

    On the user side, it is very simple to use. The fees are reasonable and it has a great mobile app. I hope they will loosen the rigor on inbound payments and increase the payment success rates.

  5. Stick with Paypal.

    The amount of time you will spend configuring the Payoneer platform is massive. You wont be able to get your money right away because they have a lot of “processing” at their end. Transferring your money to your bank account theres a minimum amount you can transfer, believe me its a pain.

  6. Very informative because I wasn’t quite sure how the procedure of getting paid works with Payoneer. This article explains it step by step and to the point. I have now registered for a Payoneer account. Thank you.

  7. Payoneer is a one stop account sign up organization where you get most of your banking business done n you get connected to ur local and intertional bank on matters of funding and banking solutions.

  8. Hello there, my name is Patrick and i am a Payoneer customer. I have been using their mastercard and online account for close to 2years and i can tell you that it is one of the worst online mass payout platforms so far. Their customer support is a huge joke, their online support structure needs to change as you can not get through to online personnel without waiting for close to 1 hour. the personnel don’t understand their jobs and never give you a reasonable and satisfactory response to your issues. Please don’t even bother using their email service, it’s one of the worst ever.
    I cannot recommend this platform to any one looking for a payment system that is reliable. However, i am closing my account with them today. I can handle the time wastage, psychological trauma and non- responsiveness of their personnel. Highly unprofessional. I am opting for the wire transfer option , even as it costs me $30 per transaction, i get my funds as at when due.


  10. I am a house wife and a mother of two small kids. Daily I have two to three hours as leisure time and I want to make use of it. I am a graduate in English literature and I have good typing knowledge. Please help me by offering some suitable work. Thank you.

  11. I think payoneer is the best,therefore i will like signup with payoneer soon.i notice that payoneer has more security facilities than paypal.Thankyou!

    • Please help me Sir
      How can i use Payoneer account in pakistan
      Please Help me on my what’s app number +923334686098

  12. Hello sir I have read abt payoneer..And I am very interesting to know about it so please let me know wat exactly it is

  13. Thanks Sir,
    The facts and tips have been told in this article really worth for me because I was thinking to create an account in pay pal that will really help me to choose either PayPal or payoneer.


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