Payoneer Review 2022 – Pricing, Features, and Top Alternative

The banking system has been the center of the commerce industry. With the introduction of eCommerce, the need for digital banking services became more pressing.

The eCommerce industry has grown so large that we now have different people performing different exchanges worldwide across different currencies.

The big question now is: How is it possible for people to transact seamlessly using various currencies?

There is a simple answer to that question, and it’s called Payoneer.

payoneer review 2021
payoneer india

Payoneer is an American financial platform that provides expert banking services and solutions on a digital scale to various individuals and companies worldwide.

payoneer coverage

Who would have ever thought it would be so easy to own local bank accounts in multiple countries from the comfort of your home?

With a simple click of the button, anyone can now own a local receiving account in any country supported by Payoneer services.

The development of Payoneer and its services created a currency bridge and made cross-platform transactions easier.

In a moment, I will show you in this Payoneer Review how this is achieved.

Features of Payoneer

Payoneer offers numerous online banking solutions to clients all over the world. These services are made possible through its network of features, some of which are listed below.

Cross-platform integration

With the development of various online marketplace platforms, online sellers have been struggling with making and receiving payments seamlessly with people from various countries.

 Payoneer has a seamless integration system that offers online merchants a straightforward and comprehensive payment solution for their online stores.

Unified account

Amazon sellers can now receive payments worldwide by using local bank accounts across eight-plus currencies, which Payoneer currently supports.

Low commissions

Payoneer receives payments from all over the world free of charge. They also charge commission rates for as low as 2% when making transfers to other accounts.

Store manager

It’s not uncommon for someone to have various online businesses or stores. The Payoneer store manager feature makes it easy for sellers to manage payments from various online businesses with one account.

Payoneer MasterCard

Not available in India

Mastercards serve as outlets for individuals and companies alike to access their funds without physically visiting the bank. With the Payoneer MasterCard, account holders can make various online payments and withdraw their cash from an ATM outlet from anywhere they are.

Access to multiple currencies

Gone are the days when black market vendors were needed for every single inter-currency conversion. Payoneer has access to numerous currencies and enables seamless currency conversions at low rates with a single click of the button from the account.

Connecting Payoneer with eBay

Apart from Amazon, Payoneer has also partnered with eBay towards creating a seamless selling experience for online sellers.

While registering as an eBay seller, you can link your existing Payoneer account with your eBay account or register for a new one if you don’t have an existing account.

The ability to link multiple eBay accounts is also available for sellers who would like to manage all of their accounts under one Payoneer account.

The above feature makes managing eBay pay-outs easy and takes eCommerce to a whole new level.

Payoneer personal vs Payoneer business

Payoneer offers various types of account services for both businesses and individuals alike. There are various account services for various businesses depending on the nature of the service being sold or rendered.

Businesses have an option of choosing between freelancer/SMB, online seller, affiliate marketer, or vacation rental host.

Payoneer does not accept funds from family and friends, so Individuals with a personal Payoneer account only have the option of receiving funds from international clients or freelance marketplaces.

Payoneer for business

Payoneer was founded primarily for business purposes. It was designed to simplify business transactions and make it easier for people to sell and receive payments globally.

Payoneer has created several types of accounts for various categories of sellers in terms of business transactions, each tailored to the sellers’ specific needs.

Payoneer’s business accounts include:

Payoneer for freelancer/SMB
Payoneer for online seller
Payoneer for affiliate marketer
Payoneer for vacation rental host

Payoneer for freelancer

This type of Payoneer account is best suited for freelancers working with platforms like Upwork and Fiverr, among others. This account helps freelancers easily receive payments from the freelance marketplace, usually in USD (Dollar) or their preferred currency.

payoneer partners list

Payoneer’s cross-currency feature also helps freelancers to easily convert and withdraw the payments into their local bank accounts.

Exclusive $50 Sign Up Bonus Included!

Payoneer for Amazon

This type of Payoneer account is designed for online sellers using Amazon, eBay, and other online selling platforms. Amazon sellers who want to register with Payoneer should choose the Payoneer for online seller option as it has unique features tailored for online sellers.

Users of this type of Payoneer account can also manage their various online stores under one account. The store manager feature is also equipped to handle payments across various currencies from any place in the world.

Payoneer vs PayPal

PayPal is one of the numerous financial payment systems available. Other payment systems include Apple pay and Google pay. Just like other financial systems, PayPal has its attractive features as well as its downside.

Let’s take a quick look at PayPal and Payoneer concerning the features they offer to benefit you.


PayPal has certain functionality limitations when it comes to registrations from certain geographic locations. For example, PayPal does not work with certain countries in Africa. On the other hand, Payoneer is global and works with businesses and individuals worldwide.

Account type

Like we said earlier, Payoneer is best suited for businesses and was created to make the business transaction seamless across various countries. Individuals who intend to receive payments from international clients can also register for a Payoneer account.

PayPal’s payment system works for businesses and individuals who wish to make personal transactions between friends and families. They have different account systems just like Payoneer, and users are allowed to select the one most suited to the needs upon registration.

Commission and fees

Payoneer receives payments from all over the world free of charge through its incoming local account features. However, they charge a small percentage when transferring money outside of Payoneer to local bank accounts. Payoneer to Payoneer transactions is made free of cost for all Payoneer users.

When it comes to receiving payments, PayPal charges a small fee for payments received from online marketplaces. Transfers made between PayPal accounts come free of cost except when a currency conversion is required.


Own a local bank account in different currencies from anywhere in the world.
The store manager feature allows sellers to manage multiple store accounts from one Payoneer account.
Payoneer makes Vat payments in the UK and EU without any commission cost.
Easily request and receive digital FIRC documents without any cost.
Low transfer fees for outgoing payments to various local bank accounts.
Payoneer provides online sellers with capital advance solutions to enable them to grow their business.
Payoneer MasterCard easily allows users to make online payments on various platforms and withdraw cash at various ATM outlets.


Not suitable for personal payment services between family and friends.
Payments to local bank accounts take time before they reach the receiver and might even get delayed sometimes.

I have been using Payoneer to get payment from the Affiliate Networks and it’s working fine.

How to Set Up a Payoneer Account

To own a Payoneer account, go to on your web browser or click here.

Then, Click on SIGN UP & GET $50. As shown below.

payoneer sign up bonus $50
payoneer sign up

Select the type of account suitable for your business and proceed to complete the rest of the form.

You would also be required to provide your Id card and proof of address to complete your registration and activate your receiving accounts.

Payoneer FAQs

Does Payoneer charge an annual fee?

Payoneer charges an annual fee of $29.95 for accounts that have been inactive for 12 months.

Where is Payoneer located?

Payoneer is an American company with its headquarters in New York.

In which countries is Payoneer available?

Payoneer is available in over 200 countries and supports withdrawals to local bank accounts in over 150 countries including India.

Can Payoneer Card work with blockchain?

Payoneer Card will work with blockchain like every other credit/debit card.

What are Payoneer fees?

Payoneer fees are commission charges that Payoneer uses to process outgoing payments and withdrawals to local bank accounts.

How does the Payoneer account work?

Payoneer account is quite simple to use. Once you complete your registration and identity verification process, you can use the local receiving accounts for various currencies.

You can also make outgoing payments to other clients and your local bank accounts from your receiving account. Payoneer does the currency conversion at a low rate for cases of international payment and completes the payment to your local bank account.

How does the Payoneer card work?

Payoneer cards work the same way every other credit/debit card works. Once you have funds in the Payoneer account linked to the card, you can use the card to complete transactions anywhere.

Is Payoneer safe?

Payoneer is safe when it comes to handling transactions. They also have a strict identity verification process for new users to ensure that everyone is who they claim to be.

How to get a Payoneer card?

You can apply for a Payoneer card through your account. However, you need to have completed a transaction of $1000 to qualify for a card.

What is the minimum account for Payoneer to Payoneer transfer?

The minimum amount for Payoneer to Payoneer transfers is $50, while withdrawal to a bank account is $100.

Any Payoneer Discount offer?

You receive a $50 exclusive offer when you register for a new account with this link. After registration, you have to complete a total of $1000 transactions to earn your $50 reward.


Whether you are an online seller, freelancer, or small business owner, Payoneer got you covered. They have several account types that are suited for the needs of your business.

Their wide range of features and low commission fees also helps maximize profits from businesses and eases the strain of making international payments.

In summary, Payoneer is a good choice for any seller looking to take his business global.

If you found this Payoneer review 2022 helpful then please share it with your friends!

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