Payoneer Sign up guide, Card application and fee, Contacts
Payoneer is a New York Based financial services company that provides a fast online money transfer and digital payments. Bloggers and freelancers mainly use it as a medium to be paid internationally.
Once you own a Payoneer account, the company offers you a free Master card, which you can use to withdraw cash from any ATM machine. Many multi-national companies for instance Google, Fiverr, Airbnb, and Amazon etc. use Payoneer as a payment method.
Payoneer Sign up Guide
To sign up for Payoneer you need to have a local bank account. Below is an easy step-by-step guide on how to register Payoneer account.
Step 1: Getting Started
- Go to Payoneer sign up page and click sign up for free button.
- First, choose an option as per your requirement on who you are and what you are looking for example a Freelancer, online seller, Digital marketer etc.
- Next select I am looking forward to being paid by international clients or freelance market places option or if you want to pay someone then select pay my service providers and suppliers’ option.
- Next, select the amount of monthly sales volume. Then fill in the type of business and personal details. If you are a blogger or a freelancer, select the individual option but if you own an organization select the company option.
- Enter your first name, last name, email, date of birth, and click next. Then fill all the required details ad per your government issued ID.
Step 2: Contact Details
- Select your country, Address, City/Town, Postal/Zip code and your current working mobile number.
- You will receive a verification code on that mobile number. Enter the verification code with a 30 seconds time limit. Click next
Step 3: Security Details
- Next, you need to fill in some security details. At first, set a password to your Payoneer account and enter your identity document information.
- This may include your national ID, passport and Driver’s license
- Finally enter the given captcha code. Click next to continue.
Step 4 Payment Method
- In this step, you need to enter the bank details to withdraw the Payoneer money.
- You need to enter your bank account type, currency, bank name, account name and bank account number.
- Finally, agree to the terms and click on the submit button.
Step 5: Review in Progress
- Now your application is successfully submitted and review process will start.
- After three business days, you will receive a confirmation email on the review.
Step 6: Submit Documents
- Sign in to Payoneer using your email address and password. Go to settings “verification center”.
- You will receive a notification to submit the relevant documents. They may include government ID, passport, electricity bill etc.
- Browse and upload the documents and click the submit button.
- A message saying documents successfully uploaded will appear on the screen.
- Within a few business days, you will receive an email confirming that your account is successfully approved.
Payoneer Card application and fee
- A Payoneer card is a physical or virtual card, which you can associate with any currency balance in your Payoneer account. This card can be used at ATM’S in stores, or online anywhere MasterCard is accepted.
- Depending on your location you will be able to order the card during the application process or from your online account once the application process is completed
- To order a card from your online account, select settings. Go to card management, click order card and follow the instructions.
- Alternatively, click the “order card “menu item located at the top right of your screen and follow instructions.
Read Also List of Things Needed to Start a Physical Business/Business start-up Checklist
Below are various transactions that can be carried out on Payoneer and the fees that applies.
By another Payoneer customer – when you receive payments from other Payoneer customers who pay from their Payoneer account balance, it is always free no matter the currency.
Directly by your clients – send payment requests to your clients and give them the option to pay you via credit card. They can also pay via local bank transfer into your receiving accounts. This will cost 3% fee for all currencies.
Directly by Market places and networks – Payoneer is integrated with thousands of companies who pay with Payoneer. Fees set by each market place or network may vary. You can check their website for precise rates.
Via receiving accounts – You can use your receiving accounts just like a local bank account in the associated county to be paid in USD, EUR, GBP and more. The fee varies by country.
Withdraw Funds to your Bank account – Once you are paid, you can withdraw those funds to your local bank account. Fees vary depending on the currency of your account.
Withdrawals in local currency from Payoneer balance of a different currency – The exchange rate of the transaction is based on wholesale currency market rates obtained at the time of transaction from a rage of financial institutions and includes the conversion fee where indicated. It can cost up to 2% transaction amount.
Withdrawals in local currency from a Payoneer balance of the same currency – When withdrawing USD, EUR, or GBP to a local bank account, there is a fixed fee on the transaction as follows
USD-to-USD withdrawal – $1.50
EUR to EUR withdrawal – €1.50
GBP to GBP withdrawal – £1.50
Withdrawals in non-local currency – for example when your balance in Payoneer is in USD currency, you want to withdraw it in US bank account, and the bank is located in Hong Kong. Up to 2% of transaction, amount fee will apply. However, for withdrawals with no currency conversion, minimum fee may apply.
Payoneer, pride themselves in the quality of customer services that they provide. In case of any queries, you can contact them via the various contact option below:
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