Payoneer Review 2024 How Safe & Trustable it is? My Honest Review

Payoneer Review

Overall Verdict

Payoneer has brought a dedicated financial assistance platform for all the online businesses and freelancers out there. No matter how small or big your business is, Payoneer can help you sort out your financial problems and help you get the best from your business. 

Out of 10


  • Easy to use.
  • Global payment services.
  • Supported by popular companies.
  • Direct bank withdrawal.
  • International Prepaid Card.


  • Hefty card renewal fee.
  • Not 24/7 customer support.


Price: $

If you have an international online business, then you must have come across Payoneer; a digital financial service provider. 

Payoneer claims to provide financial services at low costs and through a secure network. So, here is a detailed Payoneer review to help you know if Payoneer is worth giving a try. 

Payoneer Review

What Is Payoneer?

Payoneer Overview- Payoneer Review

Starting from the most basic question, let us look into this digital financial service provider. 

With a community of about 4 million active users across more than 200 countries, Payoneer has grown tremendously since 2005. It provides a number of international financial services including currency conversions, direct payment gateway, and automated digital FIRCs.

Payoneer has introduced an easier method of handling international business payments. Unlike other currency exchange service providers, Payoneer only focuses on businesses, providing a user-centric experience. 

Payoneer for Business

Now, that we have a brief about this financial service provider, let us move on to see how online businesses and freelancers can get the benefit of Payoneer.

Unlike many other financial service providers, Payoneer is dedicated to provide financial services to online businesses and freelancers and help them take their business across the globe. 

Payoneer has solved a number of payment-related problems for diverse online businesses. Here is how Payoneer helps different online businesses and service providers. 

Online Business

If you are thinking about taking your online business global, then Payoneer can be a pretty good choice for sending and receiving payments. 

One of the most common hurdles one faces in international online business is finding a reliable source of receiving payments. 

How is Payoneer reliable, you may ask. Payoneer gives you the option of making and receiving payments without any third-party intervention. Thus, making it a secure and efficient payment method. 

Moreover, all you need to do is register your business on the Payoneer application and they will handle the rest. You also get automated digital FIRCs helping you keep a record of all your transactions. 

Another thing that is worth mentioning about Payoneer is that you can use the platform to pay your remote staff. It is directly integrated with through which you can create your employ list and pay them with just a few clicks.


If you are a freelancer and have struggled to find a payment platform that not only helps you receive timely payments but also helps you keep a track of your earning, then Payoneer will be a good option to look into. 

Using Payoneer, you can request payments directly from your client and receive it in your bank account through a credit or debit card. 

You can also connect your Payoneer account with any online marketplace and receive payments directly into your bank account. This not only saves your time but also helps you receive timely payments. 

All you need to do is open a Payoneer account. 

How to Connect a Payoneer Account to a Network or Marketplace?

Connecting Payoneer with a marketplace is super easy. Just follow the steps and you will have a platform to receive payments directly from any marketplace. 

  1. First and foremost, you will need a Payoneer account. Make sure you sign up for a Payoneer account and wait for it to get approved. 
  2. Once your account is approved, go to the marketplace you want to connect to and click on the payment options (or any alternative). 
  3. If Payoneer is supported by the said marketplace, you will find it under the payment option. 
  4. Select Payoneer and sign in to the Payoneer account to link it with the marketplace. 
  5. And you are done. 

Payoneer is partnered with more than 2000 networks that provide freelancer work. You can connect it to as many networks as you want. 

Important Features of Payoneer

Payoneer features- Payoneer Review

Here is a list of all the features of Payoneer that can help you set up a reliable platform to receive international payments.

  • International Payment Software

One of the best things about Payoneer is that it is an international service provider helping even small businesses to go big and take their business from local to global. 

As mentioned earlier in the review, Payoneer provides its services across 200 countries and is compatible with more than 150 currencies. 

With minimal charges, you can make or receive payments from across the globe within a few hours. 

  • Bank to Bank Transfers

Payoneer offers online businesses to make bank to bank transfers which makes receiving and making payments easy and cheap. 

Compared to other financial service providers, Payoneer has cheaper transaction rates. 

Using Payoneer, one can transfer their funds directly from the bank account. Although it does offer other payment options, you can choose to make use of your bank account. 

  • Integrated Payments

The next feature offered by Payoneer is its integrated payments API. This is extremely helpful for freelancers who offer their services on online marketplaces. 

You can connect your Payoneer account to the marketplace and receive payments directly from the platform without having to redirect or send any additional payment information to your client. 

  • Billing Services

One of the most attractive features of Payoneer is that it allows the users to request payments directly from their clients. 

When a user requests a payment, a link is generated. The client is reminded of the payment at three intervals until the payment is made. 

This helps freelancers and online businesses receive timely payments for their services without going through any hassle. 

  • Automated FIRA/FIRCs

Payoneer is currently the only financial service provider that offers automated FIRA without any charge in India. You get automated FIRA/FIRCs documents on every transaction that you make using Payoneer. 

  • Mass Payout

Payoneer offers its users the option of making mass payments to their beneficiaries without going through the hassle of individual payments. 

It allows the employees to make simple payment requests which can be approved by the payer. Once approved, the payment will be made with the desired payment option.  

  • Diverse Partner Network

One of the reasons why Payoneer is continuously growing and thriving is because of its dedication to make and receive payments easier for businesses and freelancers. 

It is currently partnered with more than 2000 networks which provides great opportunities to online businesses and freelancers. 

  • Generates Invoices

At every transaction you make, Payoneer generates an invoice. This helps you keep a record of all your payments. 

Moreover, since it is automated, you do not have to make any effort. 

  • Make VAT Payments

Payoneer offers a special feature of making your VAT payments on your behalf. You will have to allow the service provider to make automatic payments.

With every payment made, they generate an invoice to help you keep track. One of the major advantages of this feature is that it helps you pay your taxes on time. 

Payoneer Fees

Paynoneer Fees- Payoneer Review

Since Payoneer is a financial service platform, it charges a minimal fee for making certain transactions. Here is a detailed overview of the Payoneer fees applicable to different transactions. 

Making Payments

If you are a Payoneer customer then you would not be charged anything extra for making a payment. If you are not a Payoneer customer, then here is the fee applicable to various payment methods.

  1. Through eCHECK: 1% of the amount
  2. Through Credit Card: 3% of the payable amount
  3. Through Bank Transfer: 1% of the payable amount

Receiving Payments

You are required to pay a minimal fee if you receive payments through eCHECK (USD) or through a credit card.

  1. eCHECK: 1% of the received amount
  2. Credit Card: 3% of the received amount

Withdrawing Funds

When you withdraw your funds from your Payoneer account to your local bank account, you are required to pay a fee of 2% above the current market rate (the market rate at the time of the transaction).

Exchanging Currencies

Payoneer also gives you the option of exchanging one currency for another. But to do so, you are required to pay a fee of 0.5% above the mid-market rate. 

This is one of the most competitive fees for exchanging currencies; one of the reasons which makes Payoneer better than other international financial service providers.

Payoneer Vs PayPal

Paynoeer in numbers- Payoneer review

PayPal has been in the market way before Payoneer, and no doubt it offers a much diverse spectrum of financial services. 

So why use Payoneer? 

Because, unlike PayPal, Payoneer is dedicated to online businesses and freelancers and helps them take their services to a global market. 

Here is a comparison of PayPal and Payoneer.


Payoneer and PayPal, both charge fees on their international business transactions. 

Monthly USD Volume $50,000    Monthly USD Volume $50,000 
Card Processing Fees (%) 3   Card Processing Fees(%) 3.8
FX (%) 2   FX (%) 3.4 Rate 70 Rate 70
Payoneer Transfer (USD) $95.00   Paypal Transfer (USD) $92.80
Payoneer Transfer (INR) ₹ 33,25,000   Paypal Transfer(INR) ₹ 32,48,000

 Looking at the above comparison tables, you can see that Payoneer’s fees and charges are more affordable than PayPal. Where Payoneer charges a 3% card processing fee, PayPal stands at 3.8%.

Although we cannot say that PayPal charges high fees, but when compared to Payoneer, it is relatively high. 

Transaction Time

International transactions don’t usually happen on the spot. Most of the time, it takes a few hours to reflect on your account. 

When we compare PayPal and Payoneer, Payoneer definitely takes the first place. 

For PayPal, it takes around 2 to 4 business days for the payment to reflect on your account whereas, a payment made through Payoneer account is reflected within 24 hours which is extremely advantageous for online businesses and freelancers. 


One of the main concerns while making international payments is the safety of the payment platform. 

In the case of security, both Payoneer and PayPal are pretty secure payment platforms. 


Another thing that is almost competitive about both platforms is their ease of use. Both PayPal and Payoneer are extremely easy to use. They make making international payments super easy. 

One thing that makes Payoneer a little more admirable is that, unlike PayPal, it lets you set up automatic pay-outs so you won’t have to manually ask for payments every time. 

In addition to this, Payoneer converts the received payment to your preferred currency and sends it to your bank account directly. 

Concluding this section of Payoneer Vs PayPal, I would like to point out that although PayPal has been there for a while, Payoneer has understood the needs of freelancers and online businesses. It offers cheaper transaction fees and better financial services.

Is Payoneer Safe?

Although we have already covered this briefly in the previous section, you can never be too sure about using an international payment platform. 

Payoneer is registered as the US Money Service Business (MSB) and is certified at PCI Level 1 Data Security Standard, which asks them to maintain a high level of security on their software and networks. 

What makes Payoneer safer is its continuous update policy. They regularly update their network and work on making their interface more secure. 

Other than this, their IT system goes through a yearly PCI audit which ensures your data is in good hands. 

How Does Payoneer Secure My Account?

If you are still not convinced, here is how your account is secured with Payoneer. 

Payoneer benefits- paynoeer review

  • Two-Step Verification

In case your account is attacked or hacked by a foreign user, Payoneer will protect your account through their two-step verification process. This means, not only the intruder will have to know your login details, but the account will only be accessible if you submit the code sent on your registered mobile number. 

If the logger fails to submit the sent code, he or she won’t be able to access your account and you will be immediately notified. 

  • CAPTCHA Request

Payoneer protects your account from getting invaded through bots through a CAPTCHA request. This means that your account is safe from bots and other fiend attackers. 

  • Web Application Firewalls 

The webs application firewalls or WAFs prevent bots from reaching their site, making it secure and reliable to use. 

  • Bot-Locating Software

Another step Payoneer takes to prevent a bot from invading its site is by using bot-locating software. It monitors typing speed and mouse movements which helps them detect a bot and stop them from interfering in their interface. 

  • Duplicate-Site Tracking

One common method that hackers use is by duplicating a site. This duplicate site is used to enter an account and take over their actions. To prevent this from happening, Payoneer uses duplicate site tracking software which enables it to detect the fraudulent website. 

  • User Account Searches

Payoneer conducts active user account searches through clear and dark web to find misused customer account details. If any such details are found, they immediately notify the user and block the account until the user verifies their identity. 

How To Open a Payoneer Account?

Now that we have seen why Payoneer is a better choice than other online financial service providers, let us move on to starting our journey with the said service provider. 

Opening a Payoneer account is not a technical process and the task is completed within a few minutes. 

Follow these steps to open a Payoneer Account.

  1. Visit the Payoneer website and click Register.
  2. Once you click on the ‘Register’ button, you will be redirected to their sign-up page. Choose the purpose you want to use Payoneer for. 
  3. Next, fill in your basic details including your Name, Email, date of birth, and phone number. In this step, you will have to verify your phone number through an OTP. 
  4. In the next step, you will have to give more of your personal details including your Address and  Your Identification Card Number. In this step, you will also set up your password. 
  5. You will also have to choose a security question to make your account secure and prevent its misuse. Make sure you choose the correct questions.
  6. After this, your registration process is completed. Payoneer will take around 2 days to confirm your details and approve your account. 

Once your account is approved, you can start making and receiving payments. 

Making Payments With Payoneer

Making Payments with Payoneer only requires a few small steps. 

You can either directly make a payment from your Payoneer account to another Payoneer account. This is not only faster than the other payment methods but also doesn’t have any additional fees on it. 

To make payments to a non-Payoneer account, you will have to manually fill in the bank details of the payee. In this case, charges will be applicable depending on the mode of payment used. 

Receiving Payments With Payoneer

As mentioned time and time again in this article, Payoneer is one of the easiest methods to receive payments from your clients. There are two main methods of receiving payments through Payoneer.

Payment Request

One way you can receive payment through Payoneer is by requesting the payment from your client using a link. 

When you request a payment, the request is sent to your client. Your client can then review the request and pay you with the same link. 

This helps you ensure that you receive timely payments. 

Connecting With a Network or Marketplace

Another method to receive payments is by connecting your Payoneer account directly to a marketplace. 

For example, you gain your clients through a freelancer marketplace like Fiverr or Upwork. You can connect your Payoneer account to Fiverr or any other marketplace and the clients will pay you an upfront fee for your service. 

You will receive this amount directly to your local bank account or your Payoneer Mastercard.

How to View Your Transactions in a Payoneer Account?

Payoneer brings everything to a single place. Every transaction you make using your Payoneer account can be seen in your Payoneer account. 

Here is how to view the transaction history of your Payoneer account. 

  1. First and foremost, sign in to your Payoneer Account.
  2. Once logged in, go to ‘Activity’ and click on ‘Transactions’.
  3. Here you will see all your transactions listed with the recent transactions on the top. To look for a specific transaction, filter your search by filling the date or balance of the transaction made. 

Here, you can also generate your monthly statements. To get your monthly statement, click on the ‘Monthly Statement’ button on the top right corner of the page. 

You can also download the statement to your computer or phone. 

How To Withdraw Funds From Payoneer To Bank Account?

Payoneer mobile- Payoneer review

Withdrawing funds from the Payoneer account to a bank account requires you to pay a certain fee on the transaction. 

  • If you withdraw the funds from your Payoneer account to a local bank account (with the same currency), Payoneer will charge a minimal fee of 1.5% of the transaction made.
  • In case you withdraw the funds from your Payoneer account in another currency, then you will have to pay 2% above the interbank rate. 

Here is a step-by-step guide to withdrawing money from your Payoneer account to your bank account. 

  1. After logging in to your Payoneer account, click on the menu button and go to withdraw.
  2. Here, select the currency you want to withdraw funds from. 
  3. Next, enter the withdrawal details as asked in the form. Fill in the amount to be withdrawn and the bank it is to be withdrawn to. 
  4. Once the details are filled in, click on the ‘Review’ button. 
  5. Here all your details will be visible. Check the details thoroughly and once satisfied, click on the checkbox ‘I approve this transaction.
  6. If you want to make changes, click on the ‘edit’ button. 
  7. Once satisfied, click on ‘Withdraw’ and your transaction is done.

Payoneer Customer Care

Payoneer offers a number of options for users to connect with them. The Payoneer customer care service consists of live chat, community forum, direct call, or through email. 

You can get to their support details on their website.

You can call them on their toll-free number 00 1 646-658-3695. It is the fastest and most practical method of contacting them. 

To contact them through email, you will have to fill out a query form on their website and they will contact you through email in a few days. 

If you have issues navigating the website, you can always go through their FAQ section or ask a question on their community support section. 

Payoneer Affiliate Program

Payoneer also has an affiliate program for all the bloggers out there. The best part is that you do not have to be a professional blogger or have a high-end website to become an affiliate for Payoneer. 

It helps people who are taking their first steps in the world of affiliate marketing and helps them earn high commissions for every customer they bring in. Not only do they pay a high commission, but they also assist you in setting up an affiliate marketing campaign. 

Benefits of Payoneer Affiliate Program.

The Payoneer affiliate program comes with a number of benefits. Here are the top four reasons why you should consider their program. 

  • Commission on Registration

Many financial service providers offer affiliate programs. But what is unique about Payoneer is that it pays you for every registration you bring in. 

Many other affiliate programs pay you only when the user makes their first transaction, but with Payoneer, all you need is a verified registration. 

  • Marketing Resources

Payoneer also offers highly effective marketing resources that help you to set up a productive marketing campaign and get the best out of your affiliate link. 

  • Reporting System

Payoneer offers a comprehensive reporting system to its affiliates. You can track your income and get detailed statistics on the sales made and the total redirects.

  • Marketing Management

Not only do you get paid for bringing in customers, but you also get professional help in setting up responsive marketing strategies. Payoneer offers you a team of experts that help you get the best of their affiliate program, helping you earn maximum profits. 

For complete details of the Payoneer Affiliate program visit their website.

Grow Your Business With Payoneer

Payoneer has brought a dedicated financial assistance platform for all the online businesses and freelancers out there. No matter how small or big your business is, Payoneer can help you sort out your financial problems and help you get the best from your business. 

It has made ‘Going Global’ a reality and there is no better time than now to get the best of this opportunity. 

Quick Links:

Conclusion: Should You Use Payoneer? Payoneer Review 

Although we have already covered this briefly in the previous section, you can never be too sure about using an international payment platform. 

Payoneer is registered as the US Money Service Business (MSB) and is certified at PCI Level 1 Data Security Standard, which asks them to maintain a high level of security on their software and networks. 

What makes Payoneer safer is its continuous update policy. They regularly update their network and work on making their interface more secure. 

Hope you have liked this post on Payoneer Review and will be willing to know more about it.

Jitendra Vaswani
This author is verified on

Jitendra Vaswani is a top-notch digital marketer recognized for his extensive expertise in the field. He has spoken at international events and founded, a digital marketing agency, and, a tool for SEO copywriting and local SEO. With over ten years of experience, Vaswani has made significant impacts in digital marketing. He is also the author of 'Inside A Hustler's Brain: In Pursuit of Financial Freedom,' which has sold over 20,000 copies worldwide and gained international acclaim. His work continues to inspire many in the digital marketing world.

Affiliate disclosure: In full transparency – some of the links on our website are affiliate links, if you use them to make a purchase we will earn a commission at no additional cost for you (none whatsoever!).

Comments (1)

  1. WORST EVER !!
    NEVER EVER AGAIN! 4 months and still no money transfered as their ENDLESS request for documents are more ridiculous than trying to get through an application to become an astronaut!! I actually gave up on seeing my money ever again!!
    I WANT MY MONEY BACK! 500 documents and they keep requesting more. bottom line, they just want you to give up so they earn your money

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