How to Start a Business Using Payoneer: Registration and Instructions

Payoneer is a popular financial instrument for Ukrainian businesses that work with international customers, suppliers or marketplaces. It allows you to quickly and conveniently receive foreign currency receipts from abroad, withdraw funds to a Ukrainian account or card, pay for services and settle with contractors.

This guide is for anyone who wants to integrate Payoneer in its business model. We have collected the main instructions, explanations and tips that will help you easily start using the service: from registration account for withdrawal of funds and settlements with counterparties.

What businesses in Ukraine can use Payoneer

Payoneer is suitable not only for freelancers, but also for a wide range of entrepreneurs, companies and service agencies that work with foreign clients or receive international payments. Whether you provide services, sell goods internationally, or manage a team of contractors — Payoneer can become a convenient financial tool for your business.

To the main categories of users Payoneer in Ukraine include:

• Individual entrepreneurs (FOP)

The most common form of small business in Ukraine. BPOs can receive payments for services or goods from customers around the world, including marketplaces, freelancing platforms or affiliate programs.

• Legal entities (LLC)

Various companies working in the field of IT, consulting, production, logistics or sales. Payoneer provides them with tools for B2B payments, fund management and reporting.

• Self-employed freelancers and agencies

Specialists who work without registration FOP or through agencies conducting projects for foreign customers. Payoneer allows them to accept payment in several currencies and conveniently withdraw funds to a card or bank account in Ukraine.

• Online stores working for export

Sellers on eCommerce platforms. Thanks to integration with most global marketplaces, Payoneer makes it possible to automatically receive payments and transfer them in a convenient format.

How register account Payoneer

Registration of the account in Payoneer is a process that usually only takes a few minutes. For Ukrainian entrepreneurs, it is maximally adapted and understandable. To avoid mistakes and delays, it is important to immediately prepare the necessary documents and correctly choose the type of account.

Basic steps to create an account

1. Go to the official site of Payoneer and click “Register”. The system will automatically suggest the best account option depending on your needs.
2. Select the type of account: “Individual” or “Company”. If you are registering a legal entity, select “Company”. If you are a freelancer without FOP registration – “Individual”.
3. Fill out the registration form. Enter your name, email address, residential address (or legal address for companies), and mobile phone number.
4. Set a secure password and choose a test question. This is required for additional account protection.
5. Confirm your identity. Upload the necessary documents that prove your identity or business registration (see below).
6. Wait for the account to be verified. It usually lasts from several hours to several days. After confirming the account, you will be able to use all functions Payoneer.

Required documents

Depending on the type of account, the following documents may be required:

• Passport or ID card (for individuals)
• An extract from the register of taxpayers or an extract from the UDR (for sole proprietorships/LLCs)
• Document confirming the address (utility bill, bank document, etc.)
• Bank account or payment card to which funds will be withdrawn

How to pass verification quickly

Follow these tips to speed up account verification:

• Upload clear, color scanned copies of documents.
• All data in the registration must correspond to the documents (for example, your surname and first name, as well as the address).
• Avoid Latinizing Ukrainian names in the address — it is better to use an official translation or transliteration from documents.
• Follow the messages in your account — Payoneer can send an additional request.

How to get paid via Payoneer

One of the main advantages of Payoneer is convenience in accepting payments from all over the world. You can receive funds from marketplaces and freelance platforms directly from international clients. Below are the main methods supported in Ukraine.

How to use the Global Payment Service

Global Payment Service is a tool that provides you with local payment details in major currencies: USD, EUR, GBP, etc. It works as if you have an account in the US, UK or EU – even if you are in Ukraine.

With Global Payment Service you will receive:

• Complete information for bank transfers (routing number, IBAN, sort code, etc.)
• Ability to accept B2B transfers and payments from companies
• Direct enrollments from freelance or eCommerce platforms

For example, a US customer can transfer a payment to you in dollars as if they were sending it to a regular bank account within the US.

Details in currencies (USD, EUR, GBP)

After activating the account, you will receive details for USD, EUR and GBP. These details can be sent to customers or specified in eCommerce platform accounts. Funds that go to these accounts are credited to your balance at Payoneer and available for further withdrawal or transfer.

How to connect Payoneer to another platform or marketplace

Many international platforms for sales, freelancing or dropshipping support integration with Payoneer as one of the ways of obtaining funds. To set up withdrawal of payments, it is usually enough to add details from your account Payoneer (via Global Payment Service or relevant section).

In some cases, the system immediately confirms the connection. In others, the platform may request additional documents (for example, a statement with a logo or confirmation of business activity). You can generate or download all the necessary files directly from Payoneer.

👉 More about connecting Payoneer to the platforms: Receiving payments from marketplaces

How to get paid directly from international clients

To do this, you can use two main options:

1. Sending account details — the client receives payment details in currency (USD/EUR/GBP) and makes a direct bank transfer.
2. Creating a payment request through a function Request a Payment — you send the client a link, and he pays by card or bank transfer.

In any case, the funds are transferred to your multi-currency balance in Payoneer, from where they can easily be withdrawn to a bank account in Ukraine.

How to withdraw funds to your account in a Ukrainian bank

After the funds have been deposited into your account at Payoneer, you can conveniently withdraw them to a bank account in Ukraine — both in foreign currency and in hryvnia. The process is simple and completely online, and enrollment usually takes 1-2 business days.

How to add a bank account

1. Sign in to your account Payoneer.
2. Go to Settings → Bank accounts.
3. Click “Add new account” and specify:
   • The name of the bank
   • IBAN (for a foreign currency account) or hryvnia account number
   • Purpose of the account (personal or business)
4. Confirm your data – you may need to provide a scan of a document (banking statement or screen).
5. After verification, you will be able to use this account to withdraw funds.

Conversion and commissions

If you withdraw funds from Payoneer to a hryvnia account, the system automatically converts to hryvnia at the internal exchange rate, with a typical commission of up to 2% of the interbank exchange rate. Before confirming the transfer, you will see the exact amount that will be credited to your account. If you have a foreign currency account opened in a Ukrainian bank, you can choose the withdrawal option without conversion to receive funds in foreign currency.

Tips for FOP (recognition of foreign exchange revenue)

• It is recommended to open a currency account at the FOP in the same bank where you file tax returns.
• After the currency is credited to the bank account, it can be sold through Internet banking, complying with the requirements of foreign exchange regulation.
• For the FOP of the 3rd group, the foreign exchange revenue must be officially credited — Payoneer supports this format.

Check the details with the bank or your accountant: requirements may vary depending on the type of FOP, bank and currency control.

Tariffs and commissions

Payoneer offers competitive conditions for businesses working with international clients. All tariffs are transparent, without hidden fees, and depend on the method of receiving, storing or withdrawing funds.

Receiving funds

• From customers via Global Payment Service (by local details in USD, EUR, GBP, etc.) — free, if the payer makes a transfer from a bank account.
• From marketplaces and partner platforms – usually without commission.
• From the card or third-party services — a commission may be charged up to 3%, depending on the source of payment.

Withdrawal to a bank account

• Output to hryvnia account — up to 2% from the average interbank exchange rate during conversion.
• Output to foreign currency bank account — flat fee $1.50-$2.00, depending on the currency and country.
• Enrollment term: 1-2 working days.

Fees when using the card

If you order physical or digital card Payoneer MasterCard®, the following tariffs apply:

• Annual card maintenance fee — $29.95 (subject to change).
• Cash withdrawal at an ATM — about $3.15 per transaction.
• Shopping online or in stores — without commission, if the transaction is in the currency of the card.

The Payoneer Card is provided by a licensed company, Payoneer Europe Limited (EMI, Ireland) or Payoneer Inc. (USA), depending on the user’s jurisdiction. Usage depends on the conditions of your country.

Currency conversion 

• When paying or withdrawing in another currency, Payoneer applies own rate with a margin of up to 2%.
• The course can always be seen before confirming the transaction.

Please note that rates may be updated, so keep checking back the official Payoneer commissions section.

How Ukrainian business can use Payoneer

Platform Payoneer opens wide opportunities for entrepreneurs and companies that work with foreign customers, suppliers or services. Below are the most common uses of Payoneer in the Ukrainian business context.

Acceptance of payment from abroad

Businesses can receive payment from foreign clients directly:

• Through local details in USD, EUR, GBP (Global Payment Service).
• From marketplaces or freelance platforms.
• Through invoices – create payment requests simply in the account Payoneer.

Payment for international services and advertising

Payoneer allows convenient payment:

• Advertisement.
• Subscriptions to online services.
• Purchase of goods or services abroad.

To do this, use:

• Virtual card Payoneer MasterCard® for online payments.
• Physical card for travel payments or cash withdrawals.

Settlements with contractors and freelancers

If you work with a team of specialists or contractors from other countries, Payoneer allows:

• Carry out bulk payments.
• Pay for services directly to another account Payoneer or the recipient’s bank account.
• Use API integration to automate regular payments.

Payments via virtual or physical card Payoneer

The card is a universal tool for spending anywhere in the world:

• Available as virtual, and physical version.
• You can pay in stores, online or withdraw money from ATMs.
• Payments are debited directly from the balance in Payoneer — convenient for cost control.

Summary

Payoneer is a reliable solution for Ukrainian businesses operating on the international market. The service allows you to receive funds from abroad, pay for professional tools and services, pay with contractors and optimize financial processes without excessive bureaucracy.

• The platform is equally convenient for physical, and for legal entities.
• Registration в Paydishonour takes place online, and details in different currencies allow you to work without restrictions with clients from Europe, the USA, Great Britain and other countries.
• Thanks to transparent commissions and the possibility of direct withdrawal of funds to an account or card in a Ukrainian bank, Payoneer simplifies cash flow management.

Before choosing the type of account and configuring the details, it is worth evaluating the format of your work, the type of clients and business needs. But regardless of the model — Payoneer allows you to conveniently work with foreign partners, develop business globally and adapt to changes in the market.