The step-by-step guide to opening a Payoneer account
$25 will be credited to your account once you receive a total of $1000 payments to your account.
You’ve probably used Paypal all your life and then boom! All of a sudden people are talking about a new financial service company called Payoneer. But what is Payoneer? How much are the fees and why has it became so popular all of a sudden? The answer is simple – It’s free to have an account, it’s free to send payments, it’s extremely cheap to withdraw money and it’s much simpler to connect your bank account to Payoneer than it is to connect it to Paypal. Let’s look at Payoneer in more detail:
What is Payoneer?
Payoneer is a financial services company that allows you to send and receive money online.
If you have a Payoneer account, you can receive money via Payoneer and withdraw it straight to your bank account. It is very similar to Paypal, but it places more emphasis on being able to send money anywhere overseas. The set-up process and linking it with your bank account is much easier too.
Who can use Payoneer?
Anyone! If you want to send or receive money in a foreign currency, you can use Payoneer.
I’m interested! But first, what are the fees?
Have a look at the pictures below:
Step 1: How to get an account?
Step 1 is relatively easy and self-explanatory. There are four steps where you will have to fill in the required information.
Almost Done - Your Bank Account
Please note that anyone from any country can use Payoneer. Below is four examples of the types of questions they ask to link your bank account with your Payoneer account.
Teachers from the USA
Teachers from the UK
Teachers from South Africa
Teachers from Russia
Step 2 - Ordering a Mastercard (Optional)
What is a Payoneer Mastercard?
A Payoneer Prepaid Mastercard is a physical card which you can associate with any currency balance in your Payoneer account. This card can be used at ATMs, in stores, or online anywhere Mastercard is accepted.
How do I order a Payoneer Mastercard?
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 > Card Management > Order a card and follow the instructions.
Alternatively, click the “Order Card” menu item located at the top right of your screen, and follow the instructions.
You will have to pay a yearly fee of $29.95 – There are cash withdrawal fees too so be sure to check it out if you do decide to get yourself a Payoneer Mastercard, once again please remember it is optional as you do not need to have a Payoneer Mastercard, but depending on your currency and where you live, for some teachers it will be a cheaper choice.