How does Payoneer work?

Payoneer is a secure, authorized, and trusted payment platform used by over five million businesses around the world to help them transact globally as easily as they do locally. From freelancers to cross-border eCommerce merchants, Payoneer supports thousands of private clients and marketplaces to help them make secure payments easily and efficiently, streamlining the process and reducing costs.

Once payments are received in a range of international currencies, Payoneer can be used to withdraw funds to local bank accounts or via ATMs or to spend online and in stores. Payoneer customers can also use their funds to pay suppliers and contractors, all from one secure and centralized account.

With support and help available around the clock, the Payoneer Customer Service team is always at hand in case customers should need any assistance at all.

Customers love Payoneer, as proven by our more than 25,000 reviews on Trustpilot with an average score of 4.4.

Over 5 million customers around the world use Payoneer every day to send and receive payments.

With low fees and free payments to other Payoneer customers, Payoneer saves its customers millions of dollars every month. No hidden fees!

Payoneer holds seven licenses worldwide, including in Europe, Japan, Australia, India, Hong Kong, as well as in 51 US states and territories.”.

Is Payoneer Safe?

Payoneer, established as a payment platform in 2005, knows that its customers put their most sensitive business in their hands, which is why Payoneer does everything possible to be the safest and most secure platform available.

As a regulated entity Payoneer is obligated to follow the strictest security practices, but on top of that, additional investments have been made to ensure the security of customers’ funds and data.

How Payoneer Keeps Funds Safe

Payoneer has implemented the most robust controls available and, in partnership with financial leaders, protects customers earnings and provides them with the safest and most secure platform to hold their funds.

As a regulated financial institution, customers’ funds that are managed by Payoneer are kept in segregated, safeguarded accounts according to legal requirements.

 

Customers’ Funds Are:

Held at low-risk financial institutions

Never impacted by corporate operational activities

Always liquid

Never loaned out

All payments processed through Payoneer are made through a fully compliant, secure and tightly audited payments platform that is recognized by financial regulators all around the world. Payoneer operates globally, is regulated in several jurisdictions, and its compliance record speaks for itself.

Want to read about Payoneer from their customers themselves? Payoneer has been reviewed by Transumo, Monito, G2, among many others. You can also find nearly 25,000 customer reviews on TrustPilot, with an average rating of 4.4 out of 5. Some of these customer reviews are provided below for you to read.

Payoneer customer reviews

Excellent in every way!

I’ve been using Payoneer since 2015, and every transaction has been hassle free. I’ve only had to contact CS a couple of times and each time they have been incredibly friendly and efficient. Cannot recommend it more highly.

Read full review on Trustpilot

I’m a freelancer trying to make a life… And I’m grateful to be using Payoneer

I’m a freelancer trying to make a life out of self-employment, and I almost gave up due to poor remittance and global money transfer platforms. Payoneer has emerged not just as a service but a crucial partner in my business. I’m grateful for the whole team especially your customer support team

Read full review on Trustpilot

Swift, Trustworthy and Professional

I’ve used payoneer for 4 years now and it has never disappointed. In the recent months, given the pandemic, I expected their services to not be as good and their delivery times to be longer like other companies, to my surprise, its the opposite; funds clear within the same day sent, customer care is always available, everything is better! Couldn’t want more!!

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Happy with the prompt response

Happy with the prompt response. I was having trouble because I didn’t truly understand what the real issue was with my account. Once I figured it out, and submitted a request accordingly, the issue was fixed quickly. Looking forward to a long and profitable relationship with you.

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Hi, Payoneer is the best in this business

Hi,
Payoneer is the best in this business. As freelancers, we are facing money transferring issues. Payoneer has answers for them. I’m highly recommended this website for every money transfer.

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Our business has 2been using Payoneer…

Our business has been using Payoneer for 2 and a half years and we are very pleased with this service. We have had no issues with receiving our payments and whenever there is any kind of question we need to ask they are fast to respond and very helpful. I have had zero negative experiences using Payoneer and would certainly recommend Payoneer as a B2B domestic and international payment solution.

Read full review on Trustpilot

Frequently Asked Questions

Are my funds with Payoneer protected?

As a regulated financial institution, customer funds that are managed by Payoneer are kept in segregated, safeguarded accounts by legal requirement.

Your funds are:

  • Held at low-risk financial institutions
  • Always liquid
  • Never loaned out
  • Never impacted by corporate operational activities

Our core obligation at Payoneer is to protect your funds and prevent money laundering. As a regulated entity, we provide multi-jurisdictional compliance assurances to your business. When partnering with us, you can be assured that all your payee disbursements are made through a fully compliant, secure and tightly audited payments platform that is recognized by financial regulators all around the world.

Learn more about how your money is protected with Payoneer

How much does Payoneer cost?

With such low fees and no hidden costs compared to traditional banking payment systems, Payoneer prides itself in keeping costs low and not surprising its customers with additional unforeseen costs. See here for a full list of all Payoneer’s fees

Will my recipient’s bank charge me for using Payoneer?

While transfers between Payoneer customers are free, making payments to a recipient’s bank account does incur a small 2% fee. However, depending on which currency receiving account you are using and where you are transferring money to, a small fixed fee may apply instead. See here for full details on such charges.

How fast is Payoneer?

It generally takes 2-5 business days for the funds from your Payoneer balance to reach your bank account after you receive the confirmation email. Transfers within the US usually take 2-3 business days.