How to manage currencies to simplify your global payments
Editor’s note: This service is currently not available in India and Korea. When doing business internationally, you need easy access to funds in major foreign currencies at all times. At Payoneer, you can easily manage your currencies to ensure that you have the currency you need for your payments. Simply transfer between your different Payoneer…
Editor’s note: This service is currently not available in India and Korea.
When doing business internationally, you need easy access to funds in major foreign currencies at all times.
At Payoneer, you can easily manage your currencies to ensure that you have the currency you need for your payments. Simply transfer between your different Payoneer currency balances to get the currency you need, and then make your payment.
And, managing currencies is affordable! We use the current market rate and our low fee of 0.5% of the amount to transfer is automatically deducted so you’ll always know exactly how much money you’re going to receive.
Why Would I Want to Manage Currencies by Transferring Funds Between My Currency Balances?
Transferring between balances enables you to have funds available in a specific currency to:
- Make payments to your suppliers, contractors and business partners, whether they have a Payoneer account or not.
- Make VAT payments.
- Access funds in a specific currency you’re being billed in, if your service provider uses the Pay with Payoneer API to debit your account.
How it Works
- Sign in to your Payoneer account and click Activity > Manage Currencies. The Manage Currencies page opens.
- Select a balance for the currency you want to transfer.
- Select a balance for the currency you want to receive.
- Enter an amount. You can select whether to enter amount to transfer or amount to receive.
- Click Get Rate and review the amount, rate, and fee. The rate will be held for a short time period.
- Click SUBMIT to submit the request and transfer the money between your balances.
That’s it! You’ll receive your requested currency in just minutes.*
Keep in Mind
- From the moment the request is submitted, funds are generally transferred to the receiving balance within minutes.*
- Periods of unavailability and periodic limits may sometimes be in effect for certain currencies. In such cases, we’ll let you know before completing the request.
- We currently support the following currencies: USD, EUR, GBP, CAD, AUD and JPY. The list of supported currencies may change from time to time and differ from region to region.
- You need at least two supported currencies to manage currencies. If you need additional currencies, contact us.
For more information check out our FAQ page.
Editor’s Note: The original post was updated on 17.12.19 for accuracy and comprehensiveness.
*In some cases, it may take several hours for funds to appear in your balance.
**Services are subject to limitations and eligibility requirements.
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Disclaimer
Nothing herein should be construed as if Payoneer Inc. or its affiliates are soliciting or inviting any person outside the jurisdiction where it operates/is licensed to engage in payment services provided by Payoneer Inc. or its affiliates, unless permitted by applicable laws. Any products/services availability are subject to customer’s eligibility. Not all products/services are available in all jurisdictions in the same manner. Depending on your eligibility, you may be offered with the Corporate Purchasing Mastercard, issued by First Century Bank, N.A., under a license by Mastercard® and provided to you by Payoneer Inc., or the Payoneer Business Premium Debit Mastercard®, issued and provided from Ireland by Payoneer Europe Limited under a license by Mastercard. The Payoneer Business Premium Debit Mastercard® cannot be used at merchants or ATMs in Hong Kong or for HKD payments. If you are located in the EEA, all Payoneer Services will be provided to you by Payoneer Europe Limited, trading as Payoneer and regulated by the Central Bank of Ireland.
The information in this document is intended to be of a general nature and does not constitute legal advice. While we have endeavored to ensure that the information is up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability or suitability of the information. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever incurred in connection with the information provided.
