Are you a freelancer or an entrepreneur? Are you looking for a way how clients can pay you? If yes, you must read this Payoneer review. I prepared a list of everything you need to know about Payoneer, how it works, how to open an account, what you can do with it. What bright sides and challenges you can face by using Payoneer and much more.
By the way, this will be first-hand information based on my personal experiences.
So I would highly recommend staying until the end of this article, so you don’t miss out on any important information.
To avoid confusion, boredom, and to grasp the maximum out of this article, I have segregated the article into small patches.
These sections discuss a particular aspect of Payoneer so get to know maximum about this online payment transfer platform.
You will also find frequently asked questions with their answers throughout the article.
So, let’s start without waiting further.
What is Payoneer?
Payoneer is an international payment gateway to send and receive money across borders without much hassle.
If you have ever worked online and thought of doing online business, freelancing.
Or you just have to send or receive money that involves other countries, you should know Payoneer.
Payoneer Pros and Cons:
Although I will be discussing pros and cons of Payoneer throughout the article in different aspects, I find it pertinent to mention the general pros.
And cons of Payoneer at the start of this article so that you can have a quick idea of what you can expect with Payoneer.
The pros and cons of Payoneer are huge.
That is why I am listing the most important pros of Payoneer in the list form below.
Pros of Payoneer:
- Global compatibility to send and receive payments easily.
- Presence in major parts of the world.
- Prepaid MasterCard services.
- Fast Direct Bank withdrawals within hours.
- Huge daily withdrawal limits.
- Mass payout options.
- Excellent Mobile application to access your account.
- International Prepaid Card.
- Automatic payment options.
- Multiple currencies supported.
- Multiple languages supported.
Cons of Payoneer:
Although Payoneer is one of the most wonderful financial services in the world, it is not devoid of demerits.
After all, there is always room for improvement for any product or service in the world.
And have been discussing what Payoneer needs to improve throughout the article.
The overall cons of Payoneer have reproduced below.
- Costly annual charges of MasterCard
- Limited acceptance in the world as compared to PayPal
- No live customer support.
- Customer support in weekdays and office hours only.
- No availability in certain countries.
- Longer payment deposit times of up to 5 days.
How Payoneer works?
So, what is Payoneer and how Payoneer works in simple words? Simply put, Payoneer is the international financial service for sending and receiving money in different currencies.
You can utilize the funds available in your Payoneer account via Payoneer MasterCard, or you can also send the amount directly to your local bank.
The process of sending and receiving money is simple.
There are tabs made on the Payoneer website that are self-explanatory.
The sender and receiver both must have accounts on Payoneer in order for the transaction to happen successfully.
A brief history of Payoneer
This section deals with information on the need for a platform like Payoneer felt and how this company come into being?
A history must matter to the serious users of online money transfer platforms like Payoneer because such companies are found in abundance in the international online marketplace.
That is why it is important to know which company you can trust.
People are worried about their hard-earned money that is why they want to know the information like when Payoneer was build.
The amount it handles on a daily, weekly, monthly, and annual basis, etc.
We have gathered this information for our audience so that they can feel comfortable in choosing Payoneer as one of their trusted partners to handle their funds online.
Payoneer was built back in 2005. Initially, with a cash flow of around $2 million.
Payoneer’s journey from 2005 to 2016 has been quite extensive where the company grew manifolds with a number of investors and partners joining hands with Payoneer.
In 2016, Payoneer partnered with internet escrow giant Armor Payments. After this partnership, Payoneer was able to open up its platform for the options of mass payouts.
It became one of the pioneers in providing mass payouts services at the time when it was the need of the hour.
Until 2019, Payoneer was able to partner with many international firms like Toptal, Optile, and China Broadband Capital.
Since then, Payoneer has been growing with over 4 million customers having more than 1,500 employees worldwide, with around 21 global offices scattered in different parts of the world.
It supports more than 35 languages worldwide and is one of the most trusted financial companies in the world.
Its headquarter based in New York, United States.
Products and services of Payoneer
Now we discuss what Payoneer has to offer as its products and services to its users.
The services that Payoneer provides is in detail throughout the article.
It offers multiple benefits to online users, including buyers and sellers, to process international payments with much ease.
Payoneer MasterCard is probably one of its best products.
The case of Payoneer MasterCard also discusses in length in the coming sections of this article.
Once you have successfully registered with Payoneer, you will be able to sign in as a Payoneer member.
Your dashboard or Payoneer Homepage will look like the following.
For obvious reasons, I have hidden the information like my name and my earnings, etc.
The Payoneer Dashboard or homepage is very simple.
I appreciated this platform for not confusing the customers or users with complex designs and difficult processes to operate.
In the screenshot above, you can see the options of Home, Activity, Receive, Pay, and Withdraw.
These are the options you will mostly be using while tweaking with your Payoneer account.
In the Activity tab, you can track your financial activities like transactions and how many payment requests have you sent.
You can change currencies and add or remove your contacts in Payoneer.
It is here, where you can also refer a friend to earn some extra cash ($25) for free.
I am talking about what I told you at the start of this article – the affiliate program of Payoneer.
The next three tabs are pretty self-explanatory and straightforward.
You can receive the payment by requesting the payment from any of the other Payoneer users.
The process of requesting a payment via Payoneer is also very simple.
I will explain that separately in further sections of the article.
You can also pay to other Payoneer users.
You just need their email IDs to transfer the amount, and you will be good to go.
The detailed explanation regarding sending and receiving funds via Payoneer is covered separately in this article. So, stay in touch.
How to order a Payoneer MasterCard?
Payoneer is one of the best financial companies in the world which offers you a MasterCard that has your name written on it, and it can be used anywhere in the world via ATMs that allow MasterCard.
There are a few pros and cons attached to using Payoneer’s MasterCard.
We will surely discuss those factors later but let’s jump into the section of how to order a Payoneer MasterCard.
I have already ordered my Payoneer US Dollar card.
That’s why you will see the option to order a GBP card and Euro card in the screenshot below.
The process to order a US Dollar card is the same as ordering a EUR MasterCard or a GBP MasterCard.
Click the option of “Order Card”, and the window like the one below will open up.
Enter your correct shipping address.
And do not forget to select the right currency from the drop-down button whose card you have to order.
It is possible that you had originally clicked the “Order Card” option from GBP Card and the preset option in the next window shows Eur Card.
So, you have to pay attention to what is already selected in the drop-down option so that you do not get the wrong card.
After filling up the address information, just click “ORDER”.
Your card will be on its way after the formal approval that takes 2-4 days.
Your card will take around 2 to 4 weeks to reach your shipping address.
The arrival time is different for different locations in the world. It took around 22 days for my USD card to arrive in Pakistan.
How to activate a Payoneer card?
Once you have received your Payoneer MasterCard, you have to activate it.
Otherwise, it will be of no use.
Just like any other prepaid cards and credit cards, the Payoneer card has its 16-digit number too.
Log in your Payoneer account and select number of your card from a drop-down button as shown in the screenshot below.
After selecting your card number, click “Activate”.
After that, a new window will appear asking you to write your 16 digit number and select a 4-digit PIN.
You have to rewrite your PIN to confirm it and then click “Activate”.
Your card will be activated.
Payoneer keeps on improving its processes with time.
So, you can also expect that they can change a bit of this process in the future too.
Recently, Payoneer started to give its users a self-generated 4-digit PIN which they received on their registered Phone Numbers.
You just have to memorize it or keep it saved so that you do not forget it.
Forgetting your PIN will cost you money when you go for a transaction from a MasterCard ATM.
Now that your card is activated, you can start using it as soon as it has funds.
List of fees and exchange rates with Payoneer:
In this section of the article, you will find all that you need to know about Payoneer fees, exchange rates, and payment limits, etc.
To keep the flow of this important information, I have divided this section into different parts and FAQs along with their answers.
What is the fee of ordering a Payoneer MasterCard?
It seems to be free to order a Payoneer MasterCard to your address, but there is a catch.
Payoneer charges $29.95 per year for the accounts who have Payoneer MasterCard.
You can term it as a Payoneer card activation fee.
It also offers another account type that has no annual charges where you will not be having a prepaid MasterCard of Payoneer.
You can still get your Payoneer MasterCard even if you do not have a single penny in your Payoneer account. You can also activate that card.
But it will be of no use until you deposit funds to your Payoneer account.
Payoneer will smartly deduct Payoneer annual fee for the MasterCard once your account has sufficient funds.
What are the minimum and maximum limits of sending or receiving funds on Payoneer?
Payoneer is flexible enough with its daily, weekly, and monthly transfer limits.
It takes the lead as compared to most of the leading online payment transfer channels like PayPal too.
The minimum limit to asking for funds per transaction in Payoneer is $20.
You cannot “Request payment for less than $20 with Payoneer.
There are different limits as per the account types too.
The maximum payout with Payoneer is from $2,000 to $5,000 depending upon the nature of the transaction.
The local bank transfer amount is unlimited with Payoneer.
The minimum amount that you can transfer to your local bank account is $100.
Should I order the Payoneer MasterCard?
You have to ask yourself this question for yourself.
Do you need the Payoneer MasterCard to bear the annual cost of $29.95? It depends.
If you just want to use Payoneer as a medium to send or accept payment beyond borders and you want to transfer the funds from your Payoneer account to your local bank account.
Then you must go for the option without ordering your Payoneer MasterCard.
In that way, you’ll save the annual charges of $29.95.
On the contrary, if you want to withdraw funds directly from the ATMs worldwide, or you want to use the Payoneer MasterCard as a medium to make the online purchases.
You should go for ordering the Payoneer MasterCard.
Another benefit if having a Payoneer prepaid MasterCard is that you can get the funds lower than $100 (minimum amount to be transferred to your local bank account from Payoneer).
So, if you have $99 or less in your Payoneer account, you can still get them from the local ATM or use this balance to make online purchases only if you have a Payoneer MasterCard.
Can you use your Payoneer MasterCard as a Credit Card?
Payoneer MasterCard is a debit card, not a credit card.
The basic difference between a credit card and a debit card is that a credit card can utilize a certain amount without even paying prior to purchasing things.
You do have to pay your debts later on.
With a debit card, you have to load your card with funds prior to doing the purchases.
So, a Payoneer MasterCard is a Debit Card for sure.
And yes, you can use this card to make online purchases by entering your MasterCard number and the CVV code as long as it has sufficient funds.
And if the merchant from whom you are buying stuff allows the use of a debit card for a purchase to happen.
I keep getting this question from a lot of people who don’t have a credit card, but they have a Payoneer MasterCard.
They advise to order the Payoneer MasterCard as they can make a lot of purchases online with Payoneer MasterCard.
You can also receive the Amazon sales commissions in your Payoneer account if you have a Payoneer MasterCard.
There are a lot of other benefits of having a Payoneer MasterCard that will surely help expand your online business and other related objectives.
What to do when your Payoneer MasterCard is about to expire?
Like every other debit card and MasterCard, the Payoneer card has an expiry date too.
You have to be smart with the expiry date of your Payoneer MasterCard.
That is because if the expiry date has elapsed and you did not order a new Payoneer card, then you may not be able to see the option of “Order a New Card” in Payoneer especially after the month of your card’s expiry date.
So be careful and order a new card when your Payoneer card is about to expire soon.
I cannot see the option of Order a New Payoneer Card. What should I do?
If the expiry date of your Payoneer MasterCard is already expiring and you did not care about it, then you have to contact their customer support.
You have to log in to your account and contact them via the “contact us” option at the lower right side of the homepage.
A new window like the one below will open up and will give you several options for your convenience.
You can try to locate the answers here.
If you do not find the answers, you can contact them directly and tell them about your card issue.
Payoneer support is awesome and will help you in every way they can.
My experience of having been dealt with by their customer support has been discussed later in this article.
You will find more about this “order new card” issue in that section.
Fees for using Payoneer MasterCard directly in ATMs:
As I promised earlier in the article, I am now describing my experience of using Payoneer MasterCard directly in the ATMs of Pakistani Banks.
When it was the first time that my Payoneer was full of funds, I became excited to withdraw my funds directly from my Payoneer MasterCard via ATM.
I went straight to the ATM of the Muslim Commercial Bank (MCB).
I inserted my Payoneer MasterCard in the ATM and entered the PIN that I remembered to the best of my memory.
It was a wrong PIN. I instantly recalled that I had saved my Payoneer ATM Pin on my phone, and I checked that out and dialled the right PIN.
I made a transaction of 5,000 PKR, but the funds deducted from my Payoneer account were 5,900 PKR.
Why did they deduct 900 PKR for a single transaction? Let me explain that below.
Whenever you make a transaction directly from any ATM all over the world that supports MasterCard, the fee associated with those direct transactions will be huge as compared to sending the funds to your local bank accounts.
You may have been surprised to know this, but this is the truth.
Payoneer charges a premium, the respective bank whose ATM you are using charges premium, and there are the currency conversion rates that put an extra cut to your hard-earned income.
The split of the fee associated with Payoneer MasterCard explains as under.
There are four kinds of withdrawal charges.
These charges are only in the case of withdrawing money directly from the ATM of any bank that supports MasterCard.
This fee is especially impose on withdrawing funds directly through the ATMs.
Currency conversion rates, for example, you had funds available in your Payoneer account in US dollars.
When you withdraw the amount from the ATM of any bank, you will not necessarily get the amount in dollars.
I also had a few hundred dollars in my Payoneer account when I first went to withdraw some funds at my local ATM.
I got the cash in Pakistani Rupees.
These currency conversion rates are often cruel, especially when it comes to withdrawing funds from your local ATM directly via your Payoneer MasterCard.
Charges imposed by the relevant bank whose ATM you are using to withdraw the funds.
These charges imposed by the parent bank have nothing to do with Payoneer.
They have their own rules and regulations, and you can just abide by them.
When I went to withdraw my first payment through an ATM of Muslim Commercial Bank, the slip showed me the service charges of Rs. 800 PKR.
The normal fee imposed by the ATM or the parent bank is Rs. 18 PKR.
So, this difference of around Rs. 782 PKR per transaction axed my heart, and I decided never to use the option of withdrawing funds directly from the local ATM.
These charges may be different from different ATMs and banks.
But one thing is for sure.
Payoneer does not have any knowledge or understanding with the banks regarding how much they will charge per transaction.
So, you have to be ready for the surprise charges if you have decided to go for the transaction with Payoneer MasterCard via local ATM.
Fine of $1 imposed by Payoneer every time you provide the wrong PIN in the ATM.
This is also absurd and cruel.
Even though the ATM gives us the three chances of trying the wrong PINs, Payoneer does not allow us to give a single chance.
I had forgotten and mistyped the PIN only once.
Payoneer imposed a fine of $1, and I had to bear it for the sake of learning a new lesson.
By the way, I got this refunded too, and I will discuss this while explaining about Payoneer’s customer support.
Is Payoneer safe and legit to use?
Payoneer is a safe and secure online payment processor.
You don’t have to worry about the legal aspects as it is a fully safe and legit platform to send and receive payments from any part of the world.
You just have to read out carefully its terms and conditions so that you can come to know what objectives are considered illegal by this platform.
Do read this before opening an account on Payoneer.
Now that you know that about the brief of Payoneer, I would still advise you not to rush for opening an account on Payoneer.
Stop for a while and read this information if you care for earning some free cash from this platform.
Just like most of the financial and other online services, Payoneer has an affiliate program too.
What is an affiliate program, and why should you bother it? Let’s check out.
I will start that in simple words here.
You just need to know that if you open up a Payoneer account from a special link that is shared by someone else to refer you to this platform, you will get $25 from Payoneer free of cost.
Not just you, the one who has refer you to this platform will also have free $25 from Payoneer.
So, you can grab around $50 just by opening an account on Payoneer if the one who has referred you is your buddy or a closed one.
There is no harm in joining Payoneer from an affiliate link, and I would suggest you do that.
Even if you do not have anyone in your circle who can share an affiliate link to you, you can still grab your share of $25.
You can search for affiliate links on social media platforms.
You will find affiliate links in the description of the YouTube videos that promote Payoneer or the ones that explain some of the problems related to Payoneer.
They make these videos and blogs for a purpose.
And one of the objectives is to grab a free bite of $25.
You can also find affiliate links in the Facebook pages that have to discuss online money transfer platforms.
Just ask anyone for the affiliate link of Payoneer and everyone will be happy to share it with you.
You click that link and reach Payoneer’s homepage.
And make an account for yourself and voila! You earn $25 in no time.
How to open an account on Payoneer?
Now we have reached one of the most important parts of this article.
For your convenience, I have divided the process into simple steps.
Be sure to follow them to avoid any inconvenience. The steps are below.
To open an account on Payoneer, you have to log on to https://www.payoneer.com/.
Once you are on their homepage, click register.
A window will open up and will ask you what you want with the Payoneer.
You don’t necessarily have to write anything.
And will just have to select from the options in the drop-down buttons.
It asks whether you are running a business, or you are just a freelancer.
Whatever you want with the Payoneer, I would recommend going for stating the same honestly here.
The information asked in this section does not really matter.
Just get over with it by stating what you want with Payoneer.
It may help you find better support from Payoneer once you need to expand your business or services in the future.
In the next window, just click the “Register” button without wasting time to proceed further.
You may want to read what is already checked there in the list on your behalf.
If you have any doubts, you can clarify them with Payoneer’s support.
This window will ask a bit of information regarding yourself.
I would suggest here to be truthful as there will be stages later when you would have to verify your accounts with Payoneer.
If something is not stated correctly and does not match with your credentials already provided above, you can face some problems.
The first option will ask you to choose if you are an individual or a company.
This article mainly focuses on individuals.
So we will go with the individual perspective in the remaining article.
As I mentioned before, be sure to give the correct information here as you will have to verify your information later in order to send or receive money in the future.
You will have to share your credentials with Payoneer like government-issued ID/driver’s license and your banking information, etc.
A common question that I keep getting from the newbies is, “What do I have to write in the first name and last name if I have a bigger full name?” For example, the real name of the famous Hollywood star Tom Cruise is Thomas Cruise Mapother.
What would he write in the first name and the last name while opening up an account on Payoneer? He would write Thomas Cruise in the first name and Mapother in the last name.
Just continue by providing your correct and running email address and correct date of birth that is there on your Government-issued ID and the driver’s license.
After that, click “Next”.
The next window will open up.
You will have to fill up the information with the correct details.
All of it is pretty simple.
You can put the address, zip code, and your mobile number.
They will verify your mobile number by sending the code and you will have to write that code in the last box of this window.
This authentication will legalize the matter and will keep it smooth throughout the years.
If any of your information does not authenticate in future, you may face some problems in rectifying them.
The following information is a bit critical.
I would highly advise you to memorize the information regarding your password etc. strictly.
Also, you need to select the security question that is very easy to answer for you at any stage of your life.
When I initially signed up for my Payoneer account, I chose Beyoncé as my favorite singer for my secret/security question.
But by the time I had to use my security question to access my Payoneer account, I had forgotten what favourite singer I had chosen before.
That is because a few more singers had added up to my favourite list.
So once again, choose the security questions that are true and do not have a chance to change with time.
Another tip here would be to choose only single names as your answers.
I am suggesting this because you might even forget what you wrote as the answer to your secret question of the name of your eldest sibling.
Did you write his first name? Or was it the last name? So, always write what you call a person generally in your daily routine.
This is what I call it an exciting step because you will have to provide your banking information here with a dream in the mind of getting thousands of dollars via Payoneer.
Also made a little mistake here.
I attached one of my bank accounts which I, later on, wanted to change.
And I would advise you to check such kind of detail prior to applying for the Payoneer account.
You can very well change your bank account details later on also, but why take an extra hassle when you have got the chance to avoid it right in the start.
Let me explain that from my example.
If you are from a Muslim country like Pakistan, and you are also a practising Muslim, you may have some issues with the savings accounts.
This is just an example.
I had signed up for a Payoneer account and gave my banking information to United Bank Limited, which was a savings account.
I did not realize what type of bank account I had at the start.
It got attached to Payoneer, and I started receiving money directly to my UBL bank account.
Later on, I realized that my UBL account is a savings account, and I was only comfortable with the current account.
So, I had to take an extra hassle of attaching or changing my banking information in Payoneer.
So, after you click the “submit” button, you will be largely done with having an account on Payoneer.
Later on, you would need to access your account and know about the processes with Payoneer options via a website and mobile application.
How to deposit money in Payoneer?
There are different ways of getting money in your Payoneer account.
You can log in to your account and go to the section of “pay” and “receive” on the Payoneer’s dashboard.
It will look like the following:
You can select a payment provider if it is already in your Payoneer account.
You can add a payer by entering his details or Payoneer ID in the sections asked later by Payoneer.
The payment provider will get a notification via their Payoneer account and in their email as well.
The payment provider will then allow the payment to be processed or can decline also.
This process of depositing money in your Payoneer account is the same in countries, including Pakistan, Bangladesh, US, and Nigeria.
How is Payoneer Support?
Payoneer has great customer care services.
With the US Toll-free number 1-800-251-2521, an international contact number 1-646-658-3695, and a Live Chat option, Payoneer takes the lead in providing excellent customer care services.
It also has an email support option that works from Monday to Friday.
I had two experiences up till now when I had to contact Payoneer support.
One is for renewing my Payoneer MasterCard and the second one is when I got excessively charged for withdrawing funds from the local ATM directly.
I got sufficient support, and I would say timely support too.
I did not feel left out or confused.
Have used their email support both times.
Fortunately, I have been able to find the reply of their customer care representative when I was unable to see the option of ordering my new Payoneer card.
Because it had expired long ago and I was also not able to see the option of “withdraw” funds to my local bank.
I contacted their support team for help.
Also would mention here that it took a bit of time for me to explore the right option for contacting them as they keep on giving the option to find your answer from the Payoneer help community known as cuts help (payoneercutshelp.com).
And was finally able to send them an email regarding my issues of not being able to see the options of ordering my new card and withdrawing funds on the USD section.
One of their customer care representatives replied to me promptly within 24 hours, and I instantly felt protected.
The reply is as follows.
As you can see, they did care about me, and they also apologized for the late reply.
Although I took their reply as a “prompt” one, so, he asked for my address in the email and sent my card.
When I received the Payoneer MasterCard and activated it, everything was under my control again.
I had an even better experience with their customer care support when I was overcharge with my own mistake of giving a wrong PIN at the ATM while trying to withdraw funds from the local ATM.
As I told above, they deducted $1 for my mistake. I again contacted them for waiving off this amount.
They were generous enough to waive off this fine which was my own mistake.
So, all in all, Payoneer customer support is one of the best according to my own experiences, and the financial services are concerned.
They give value to their customers and keep on trying to facilitate them as much as they can.
That is all a customer needs from the company.
Currencies supported by Payoneer:
As far as the Payoneer MasterCard is concerned, Payoneer supports the card in the following three currencies.
- Great Britain Pound (GBP)
- United States Dollar (USD)
You can order their cards as well as send and receive payments directly within these currencies without being involved in any kind of currency conversions.
Apart from that, Payoneer supports the following currencies as well.
- Canadian Dollar (CAD),
- Australian Dollar (AUD),
- Japanese Yen (JPY), and
- Chinese Yuan Renminbi (CNH)
Payoneer also offers the currencies conversions to Czech Koruna (CZK), Poland złoty (PLN), Russian Ruble (RUB), and Vietnamese dong (VND).
But these are not the mainstream currencies supported by Payoneer.
They only offer conversions to these currencies for the purpose of paying taxes.
What are the Payoneer funds’ transfer charges?
You cannot get the exact amount that was transfer to you from any client.
There are charges involved with Payoneer transfers.
The details of these charges are as follows:
Local Bank Transfer Charges:
If you want to transfer funds from Payoneer to your Local Bank, the charges will be $2.99 per transfer.
So, you have to be careful while making withdrawals to your local bank.
Let me explain that with an example.
If you have $300 in your Payoneer account and you will have to transfer it to your local bank one day or the other.
Then a wise option would be to transfer the full amount, i.e. $300 at once.
In that way, it will cost you a whole of $2.99.
On the other hand, if you transfer this amount in patches, $100 for three times, for example, you will have to bear $2.99 charges three times.
So, what would be wise? A single deduction of $2.99 or $8.97? The choice is yours.
USD SWIFT transfer charges:
The charges for USD Swift Transfer will be $15 per transaction.
Maximum Limit of Payoneer Charges:
The maximum limit of Payoneer charges is $4 or 1% of the total amount transferred in your account for USD and EURO transfers.
If the 1% amount of the transaction exceeds $4, then the charges won’t exceed $10 per transaction.
These are the current practices of Payoneer and need to stay in place for a longer period as such kinds of rules do not change so frequently.
So these are the general Payoneer fees for receiving money in your Payoneer account and your local bank account.
I have explained this so that you do not get surprised by the deductions they make as I was surprised when I did not know much about how Payoneer works.
How much time does it take to get the funds deposited in your Payoneer account?
Once the amount is into your Payoneer account from your employer, buyer, or anyone out of your circle, it is not deposited into your Payoneer account overnight.
It takes around 4 to 8 days for the funds to be in your Payoneer account so that you can utilize them.
However, you are surely notified by the Payoneer via email that the employer has approved your payment.
You get another notification telling you that your funds are on their way so that you keep yourself updated with the happenings.
Finally, you get a notification via email that your funds are in your Payoneer account.
It is that point, where you can see the amount in your account, and you can withdraw those funds either to your local bank, or you can use that amount elsewhere for purchases etc.
How much time does it take for the funds to deposit in your Local Bank?
Once your bank account has been attached and approved by Payoneer, it does not take much time to get the funds transferred to your local bank.
Talking about Pakistan, it generally takes a few hours not days to get the funds transferred in your local bank.
You can withdraw funds directly to your local bank by using their website on your PC, Laptop, or phone.
It will take a few hours for your bank’s message to pop up in your phone intimating you about the transaction being successful.
You can calculate yourself how much amount you had in your Payoneer account, how much did you transfer.
And how much did you receive in your local bank so that you have all the information with you regarding the deductions.
What are the Payoneer’s currency conversion rates?
If you Google the exchange rates of USD to PKR, you cannot expect the same rates to be applied to your currency conversions when you withdraw your dollars to your local bank account.
For example, if 1 USD is equal to 160 PKR in the open market, you will get around 156.4668 PKR.
The rates may surely keep fluctuating according to the financial situations internationally, but this is to give you a rough idea.
Generally speaking, you can expect a cut of around 3.5 PKR per USD as compared to the open market.
I think is fair as there are the differences in buying and selling rates of the currencies including US Dollar and Pakistani Rupee.
Should you share your Payoneer details with anyone else?
This is the question that you have to ask yourself.
While financial companies like Payoneer always ask you not to share your crucial information with anyone, they mainly mean not to share that information with untrusted people.
I suggest you share Payoneer login information with one person at least who can handle your accounts on your behalf in case you ever need it.
One such case may be when you depart from this world. This case is in detail below.
What if I die while using Payoneer?
Although it is not one of the most common questions asked by Payoneer users.
I still find it important to discuss it here in this article.
As you must know if you have a bank account anywhere in the world, a bank account requires you to give a name of a person who can manage your funds in case you suddenly die.
This person is called “Next of Kin” in the baking terminology.
Unfortunately, I did not find any such service with Payoneer.
So, what can you do with it? I advise you to share your secret Payoneer information to one of the most trusted people in your life.
This person should be the one who you can trust with your financials too even if you suddenly die.
As death is a bitter reality, everyone needs to decide who will be the heir or the handler of his or her funds after he or she passes away.
So, you can share the details of your account with the person with the following details in mind.
- Your next of kin should have access to your emails.
- Your next of kin should have access to your mobile phone.
- Also your next of kin should have access to your security questions that you answered while making an account with Payoneer.
- And should have access to your local bank account.
With all the access to this crucial information in mind, I will suggest you share these details with a person who is your next of kin in reality.
He or she can be your family member or a spouse, but you must consider this fact so that your funds with Payoneer are safe.
The Payoneer Mobile Application:
Payoneer recently developed its long-awaited mobile application for ease of use by its users.
It had been in its nascent stages, but the company is constantly improving its performance day by day to add more and more features for better customer experience.
The Payoneer application is available on Google Playstore and Apple App Store.
You can easily download the application, and you are good to go after providing your credentials.
- What options are available on the Payoneer Mobile Application?
With Payoneer Mobile Application, you can access your Payoneer account, check the status of your payments, and receive and withdraw funds to your local bank.
Almost all of the basic features are available on Payoneer Application that a Payoneer user is in need of.
The salient features of the Payoneer Mobile application have summarized below:
- Overall Dashboard of your Payoneer Account
- Details of the latest transactions
- Check the status of your available funds in USD, EUR, and GBP currencies.
- A dedicated section of your transactions
- Actions such as to manage currencies, paying to recipient’s Payoneer account, and paying to recipient’s bank account
- Request a payment from your employer or anyone who has a Payoneer account.
- Withdrawing funds
- Cards Management sections
- Dedicated slots where you can have information like how much you would get at an ATM.
- Section to report a lost or stolen card.
- Viewing your PIN.
- Settings to tweak the app as per your needs.
- Pending tasks if you have any.
- Legal consultancy
- Contacting Payoneer Support.
- Refer a friend to benefit from Payoneer’s affiliate marketing program.
- Notifications of the latest happenings.
The best part about this application is that you keep getting notifications whenever your funds are on their way and when they are finally in your Payoneer Account.
You no longer have to keep checking your email for those notifications.
Previously, Payoneer users had to log in to their Payoneer accounts to check the status of their transactions.
Payoneer mobile application did not have the option of requesting a payment directly from their application, but they recently added that feature too.
Which Freelancing Platforms Support Payoneer?
Freelancing has become the name of the game in the recent past as people have started to look for a steady income by working from home via their laptops.
With freelancing, you have international clients as you work for cross border buyers who pay you for your services.
One challenge for the freelancers who are especially from the developing countries like India, Pakistan, and Bangladesh is to receive payments so that they can get their payments deposited in their bank accounts.
Payoneer is one of the pioneers to solve their problems.
As it is difficult for countries like Pakistan to have an account with the world’s highly accepted financial services like PayPal, Payoneer helped them solve their problems amicably.
RELATED: 17 SITES THAT PAY THROUGH PAYONEER
Most of the freelancing platforms like Upwork, Fiverr, and Toptal support payments via Payoneer.
Although receiving payments from these freelancing websites is not much of an issue than it used to be a few years ago.
When Upwork and Fiverr did not give direct local bank transfer options to the freelancers of India, Pakistan, and Bangladesh.
Now that these freelancing giants have started providing the options of direct local bank transfers, most of the freelancers use this option of transferring their funds directly to their local banks.
Still, you don’t have the facilities like making online purchases worldwide with local bank transfers.
Therefore, the relevance of having a Payoneer MasterCard with all of its services and benefits stays in place.
That is the reason these developing countries are always thankful to Payoneer for being there at hard times.
Payoneer enjoys thousands of Pakistanis, Indians, and Bangladeshis freelancers who use its services and are happy with it.
The list of freelancing websites that support payments via Payoneer includes the following:
One of the freelancing giants, Upwork, is used as a freelancing platform across the world by a mix of freelancers and buyers.
As I have already mentioned, Upwork now offers direct local bank deposits for the freelancers of the developing countries like India and Pakistan.
And you can still use this platform to receive money via Payoneer.
As another freelancing giant, Fiverr is the source of providing online jobs to the millions of freelancers in the world.
It came into existence a few years ago and has been growing year by year.
As a responsible financial service provider, Payoneer got itself compatible with Fiverr and it became easy for the freelancers to withdraw funds via Payoneer.
Payoneer especially became popular with Fiverr in developing countries like India, Pakistan, and Bangladesh.
From these countries Fiverr receives a huge number of freelancers.
As we mentioned earlier in the brief history of Payoneer, Payoneer partnered with Toptal, and since then, both have benefited out of this new venture.
It is always convenient for the buyers and sellers to have transactions by using Payoneer on Toptal.
The ones who utilize the services of Payoneer with Toptal are quite happy with the excellent services offered by Toptal and Payoneer to the clients and freelancers.
Another popular freelancing platform that is more similar to Upwork.
It also has a huge number of daily job postings that come with the need to transfer payments between freelancers and the clients.
Payoneer made it easy for both parties to have these transactions comfortably.
As a freelancing platform that is mainly on giving design solutions to the clients, 99designs also gives the facility to send and receive payments for the design services via Payoneer.
Expert360 is an Australian based freelancing platform that virtually provides any kind of professional expertise.
The process is the same as any other freelancing platform, and it is popular in certain regions of the world.
You can always use Payoneer with Expert360 to handle your funds.
A designing platform that offers creative and professional graphic solutions to the website owners and businesses around the world.
This platform uses certain methods for sending and receiving payments.
Payoneer is one of their widely used methods for this purpose.
A relatively unpopular freelancing website.
Still, the platform has a huge number of verified freelancers and buyers.
Most of them use Payoneer as their preferred method of making the payments.
Be it blogging, content writing, on-Page SEO, Off-Page SEO, or anything related to boosting your website’s ranking, SEOclerks is the place to get these tasks done.
The main difference between SEO clerks and other freelancing platforms is that this website is solely focused and is known for getting the solutions related to the SEO of your website.
Other freelancing websites such as Upwork and Fiverr provide mixed services.
Here too, you can use Payoneer as your preferred source of sending or receiving money.
Other Websites that Pay you Through Payoneer:
Apart from the perspective of being a freelancer, you would still want to know which websites support the payments through Payoneer.
We have a detailed article describing these websites that you can read here.
To reproduce the list of other websites that support Payoneer as one of the methods to transfer funds, I have mentioned the list in the following.
You can make money with Google in case you didn’t know already.
And you can run your blogs with Google AdSense on your posts also will get as per your daily traffic.
One of the methods to accept payments via Google is Payoneer.
One Of the hottest channels to make money online nowadays is YouTube.
On YouTube, you can upload your videos, and if you monetize your videos.
You can earn a hefty income that is steady and increases day by day if you have a tremendous following and video views.
With YouTube, you can use Payoneer to accept payments for your monetized videos.
I am not sure if most of you would be knowing about ClickBank or not.
Whatever the case is, ClickBank is an online marketplace for digital products such as online courses and software, etc.
ClickBank offers these products to the customers directly as well.
But what makes this platform stand out is its aggressive affiliate marketing offers.
If you promote their products by any means with your special affiliate links and someone buys any of these products via your special affiliate link, you earn money.
The affiliate program is so strong that it offers up to 90% of commissions.
That means that if you promote a product that costs $100, you will get $90 commission just for promoting it.
The point here is that if you have a Payoneer account, you would be able to withdraw those funds offered by ClickBank.
It is an online platform for photo lovers.
Any person who is passionate enough to take the pictures in HD format and share with this platform, he or she can earn a commission if those pictures trade-in via this platform.
Here too, the funds can directly be transferred to your Payoneer account without any hassle.
An excellent choice for the people who consider taking pictures as one of their hobbies.
Who doesn’t know Amazon? Although it would be surprising if you do not know, you can also earn money from Amazon.
Just like ClickBank, you can earn money by promoting the products on Amazon.
In the same way, you can also get the funds that you earn via promoting their products in your Payoneer account.
A great platform to give your ideas an eternal life.
You can design t-shirts as per your creative ideas, and you can sell those designs on this platform.
It also has an affiliate program.
Whatever the case it is, you can always withdraw your earned money via Payoneer from this platform as well.
A paradise for the bloggers, you can earn money from this platform by showcasing your blogging skills.
Payoneer is among its supported financial channels for receiving funds.
Just like YouTube, you can also earn money by promoting your videos on Dailymotion too.
As one of the methods to receive your earned money, Dailymotion supports sending the payments via Payoneer.
Recently, the demand for graphic designers has witnessed a huge surge in the buyer’s market.
This platform has emerged out of this huge demand.
You can showcase your graphic skills by offering your graphic designing services at competitive rates.
They also support Payoneer as one of the supporter methods to dispense online payments to graphic designers.
This is just like IStockPhoto.
You can deposit your unique photos here whether you have adobe them or you have clicked them by yourself in their genuine form.
Can earn money by selling your photos here on this platform.
You will not get paid just by depositing your photos here.
And will also pay off when someone buys your photos from this platform.
This platform is fair and is trusted by millions of photographers worldwide.
Here too, you can accept payments from this platform via Payoneer.
Some many other platforms and websites have enlisted Payoneer as one of the supported channels to transfer money to the freelancers and service providers.
The list can get huge.
That is why I am not diving into much detail here.
The bottom line here is that with Payoneer, you get a huge list of options that you can utilize to earn money.
While Payoneer itself will not help you generate much money apart from its affiliate program, it does help you process the payments that you have receive via different channels.
So, it is highly advise that you get a Payoneer account along with its MasterCard if you want to capitalize on the online opportunities.
Payoneer and Freelancer.com
I especially thought to discuss the matter of Freelancer.com in relation to Payoneer in this article.
Freelancer.com is the hub of online projects.
It has been considered one of the top freelancing platforms due to a number of reasons.
Unlike Upwork, it has very few charges to apply for online projects.
That is why most of the freelancers are also present on Freelancer.com in addition to their presence on other freelancing websites like Upwork and Fiverr.
But does Payoneer work with Freelancer.com?
Unfortunately, not anymore.
It used to have Payoneer integrated with their systems before, but they have recently removed this option.
The reasons are best known to them only.
So, what should you do if you are an aspiring freelancer and you want to have jobs from Freelancer.com? You can still go for it.
Freelancer.com has the option of transferring your funds to local bank accounts.
It also offers to withdraw your funds via PayPal and Skrill.
If you have a working account on any of these financial services (PayPal and Skrill), you are good to go with Freelancer.com.
But what if you belong to a country like Pakistan where there is no availability of having a PayPal account, and there is very limited access to Skrill?
You can only go for the option of a direct bank account deposit.
I have been hearing a lot of questions from the freelancers working with Freelancer.com that they are not very smooth with sending out the payments via local bank transfers.
They do take time in certain cases as they have tightened their security measures of verifying profiles.
But they will certainly have to release your payments after they check with their initial scrutiny and verifications.
Let me discuss a case study here.
A Pakistani freelancer started working on Freelancer.com and earned a good amount of money in a few months.
When he decided to withdraw some of his money to his local bank, he got stuck in their hefty screening and security processes.
He did provide all of the information, including his driver’s license, government-issued ID card, and banking information, etc.
Still, the support team of Freelancer.com kept asking him to wait for the approval.
It is important to mention here that he also asked the support team of Freelancer.com to release his payment via Payoneer because he did have a verified Payoneer account.
The support team told him that they are not releasing payments to the new freelancers via Payoneer anymore.
The option of getting the funds transferred from Freelancer to Payoneer was only available to the old Freelancer account holders.
So, what is in it for you? If you are a new freelancer, try not to depend upon having your payouts via Payoneer when you are working with Freelancer.com.
Payoneer VS PayPal
PayPal is widely known as one of the topmost financial services in the world.
While Payoneer also works exactly like PayPal, you may have an obsession with having access to PayPal along with Payoneer.
Especially in developing countries where PayPal is not available, online users always keep looking for the opportunities of having a PayPal account.
So, what are the basic differences between these two widely known financial services? Let’s find out.
There is not a single formula for terming one financial service better than the other.
It merely depends upon your choice and availability.
I have divided the coming section into the following parts so that you can analyze which online payment services appeal to you most.
Payoneer VS PayPal International Coverage and Acceptability:
PayPal is undoubtedly more acceptable in major parts of the world as compared to Payoneer.
Although both companies found in 2005, PayPal gained the market shared more aggressively than Payoneer.
Many of the online retailers, e-commerce websites, and other virtual and physical stores accept PayPal for the payments, while Payoneer is not that much covered internationally.
That is the reason why PayPal has a whopping 177 million customer base, while Payoneer has around 4 million users.
Payoneer fees vs PayPal fees
Probably, this is one of the topmost differentiators for most of the people who are concerned about the deductions whenever they make a payment or receive the payment from anywhere else.
Undoubtedly, PayPal charges quite higher than Payoneer for transactions made through its platform.
To make the calculation simple enough for your better understanding, you can say that with PayPal, you spend $5 more per $100 of transactions.
The main reason behind these charges is the flat rates per transaction and the percentage charges with PayPal.
It charges 2.9% per transaction along with a flat rate of $0.30 for every transaction.
On the other hand, Payoneer charges 2% of the transaction, and there are no flat rates.
This makes Payoneer favourable for making transactions as compared to PayPal.
The information regarding Payoneer annual fee has been discussed in this article before.
About Payoneer monthly fee, there is currently no monthly fee charged by Payoneer to its users.
Number of Currencies supported by PayPal and Payoneer
PayPal supports 57 currencies, while Payoneer supports 150+ currencies worldwide.
That is also one of the strongest differentiating features of both of these payment services.
But why has Payoneer not surpassed PayPal with such extra support? Probably, this is because of the reason that there are a huge number of users in the world who operate in dollars.
They trust PayPal more and are comfortable with its reach and high acceptability throughout the world as compared to Payoneer.
Daily withdrawal limits of PayPal and Payoneer
If you run a business that needs mass payouts with electronic payment providers, you must be worried about the daily withdrawal limits.
With Payoneer, you get extra support in this sphere too.
The daily withdrawal limit with Payoneer is around $5000, while the daily ATM cash withdrawal limit of PayPal is around $400. A huge difference, isn’t it?
User Experience with PayPal and Payoneer:
Overall, both PayPal and Payoneer are pretty simple and easy to use.
The salient features and differences between both companies are below.
You can term these points as pros and cons of Payoneer and PayPal too.
- Payoneer is one of a few payment services in the world to use mass payouts as per your needs.
- PayPal does not support mass payouts to its users.
- Payoneer is highly preferred when it comes to making transactions more often. Like if you have to send or receive payments on larger scales, Payoneer is the best choice for you as compared to PayPal because PayPal does not support large and frequent payouts.
PayPal VS Payoneer. Which is safer to use?
Safety is the number one priority while trusting your money with online money transfer platforms like Payoneer and PayPal.
So, what should you prefer if you are highly concerned with the security matters of your funds?
Your personal information is also a matter of concern for many online money transfer matters.
You need to make sure that the information of your finances and your data is handle with care, safety, and security.
Frankly speaking, both companies are highly regarded and safe and secure when it comes to trusting your information both financially and personally.
You can trust them with your funds as both platforms always run their processes with extra layers of security so that your accounts are not hack.
Or someone else who has access to some of your information may not mingle up with your accounts.
In some ways, you can say that PayPal is more secure because of its huge customer base and because it is a public limited company.
But overall, both companies have been around for more than a decade.
And there has not been news on any of their major security breaches.
Payment process times with PayPal and Payoneer:
Another important aspect when it comes to choosing the mainstream method of sending and receiving money online is the time it takes to process your payments.
You may want to receive your funds in your bank accounts as soon as you press the button to get the funds visible in your local banks.
This is the point where PayPal and Payoneer differ largely.
Payoneer is super-fast in delivering your funds to your local bank accounts as it only takes a few hours to transfer your funds.
I receive the message from my local bank about the information of my funds’ transfer within 2- 4 hours after I initiate the funds’ transfer request on Payoneer.
On the other hand, PayPal takes 2 to 4 business days to transfer your funds from PayPal to your local bank account.
Huge difference I would say.
There have been occasions when I instantly needed the money in my bank for some purchases or paying my bills.
I have always found Payoneer reliable in this regard as it swiftly sends me the money that I need in my bank account.
A transfer time of 2 to 4 business days means that if you have initiated the request around the weekend, it might take up to 5 days to receive your funds from PayPal.
So, huge thumbs to Payoneer in this regard.
Nevertheless, PayPal also has some swift transfer options, but you might not quite be interested in those options because of the hefty transfer charges.
Why would you want to pay an extra amount to PayPal when you can get the funds with no charges with Payoneer?
So, these were a few of the comparison points between PayPal and Payoneer.
It is totally up to you to decide which platform suits you best and caters to your business and financial needs.
All in all, both companies are undoubtedly the market leaders in online money transactions and receive a huge client base from all around the world.
Payoneer VS Skrill (Moneybookers):
Skrill is also known as a low-cost online money transfer service.
Just like Payoneer, Skrill is also trusted by many users to handle their funds nationally and internationally.
It was introduced back in 2001 and is a UK-based company to handle online payments just like Payoneer and PayPal.
RELATED: SKRILL ACCOUNT IN NIGERIA
Let us compare Skrill with Payoneer so that you may know if Skrill suits your online payment needs or not.
I have divided the comparison into the following segments so that you have a better idea regarding both online money transfer companies.
Payoneer VS Skrill fees
While the fee may change from case to case, Skrill generally charges around 1.45%.
This is the general fee charged by Skrill, but there is a catch about Skrill.
It seems to have the vision to capture the online payment market with a strategy of being a very low-cost payment transfer module.
You can also have free payment transfers with Skrill.
On the other hand, as we discussed earlier also, Payoneer charges 1% of the total transaction amount when you process payments in US dollars.
This is also a general transaction fee by Payoneer.
The complete case of Payoneer charges has been discussed in the section of PayPal VS Payoneer fees.
Payoneer VS Skrill Exchange Rates
The exchange rates offered by Skrill are quite daunting. The currency conversion charges of 3.99% to the wholesale exchange rate.
This is where Payoneer takes the lead in comparison with Skrill.
As it is describe in detail in the sections mentioned above, the exchange rates offered by Payoneer are quite nominal as compared to the rates offered by Skrill.
Countries Supported by Payoneer and Skrill
Another aspect of choosing the right online money transfer platform is the number of countries supported by both platforms.
While it may not matter much in case if you have transactions in limited countries, it is of high importance for people who have business interactions across many borders.
The countries and territories supported by Payoneer have mentioned at the start of this article in detail.
Payoneer is available in more than 150 countries. Skrill is also present in around 150 countries.
If you’re wondering whether your country is allowed by Skrill or not, do refer to this page.
It includes the list of non-serviced countries by Skrill
So, if your country is not on this list, then Skrill is present in your country.
Ease of Use with Payoneer and Skrill
Payoneer and Skrill both are quite easy to use.
But I had some issues using Skrill.
Its instructions are often not clear.
There are fewer options on the homepage, and one does not know clearly how to move within a page to access another piece of information.
I wanted to find the option of MasterCard in Skrill.
It took quite a long time for me to locate the option of MasterCard just to find out that I did not apply to their MasterCard.
Independent surveys have carried out, and feedbacks have taken to compile an overall score for ease of use for Skrill and Payoneer.
The results also showed that Skrill scored quite low on the ease of use chart as compared to Payoneer.
Nevertheless, this is not something that cannot be changed.
I hope that if they keep receiving complaints about their designs and complexity of operations within their website, it can change overnight.
On the contrary, Payoneer truly takes the lead here in terms of design and ease of use.
The reason why Payoneer did not have much desire to change its outlook and design over the years is its simplicity.
This platform is so easy to use that no one can go astray.
There are clear instructions and calls to actions that are sufficient to keep the customer intact for as long as they want.
Skrill should bring little innovations in their design and processes so that they can retain the visitors for longer times too.
Payoneer VS Skrill Security
Overall speaking, both platforms have sufficient security measures.
You can trust both of them with your financial information and personal data.
Security and privacy are the matters that every financial company would surely take care of.
In all these years of existence, we have not heard anything bad about their security.
Each of them is equally good, so here is a point that both have gained equal scores.
Payoneer VS Skrill MasterCard
You know enough about Payoneer’s MasterCard by now.
It is in detail in the section above. So, we move on to Skrill MasterCard.
Just like Payoneer, Skrill also offers its users with a MasterCard.
It is a prepaid MasterCard that comes with all the benefits more or less as they are being offered by Payoneer.
You have to bear the charges also when it comes to using Skrill MasterCard.
Skrill charges 1.75% of the transaction for using their MasterCard anywhere in the world.
Skrill users may utilize their funds and in their Skrill account in any form with their prepaid MasterCard.
They can also withdraw the amount from the ATMs of the banks that support MasterCard.
So, these are salient features of a Skrill MasterCard.
In a nutshell, Skrill users enjoy having prepaid MasterCard as they can utilize the benefits of this card in terms of online shopping and digital purchases such as domains, web hosting, and other services.
Payoneer VS Skrill Customer Support
Both Payoneer and Skrill use the forms of tickets, phone, and email as the sources to give customer support.
Even if you are not a customer of these platforms, you can still inquire about your queries via emails, phone calls, and tickets.
I have experience of getting support from both of these platforms via the method of tickets.
Allotted with a ticket number against which their support person had to contact me with the answers.
Honestly, I am quite satisfied with the way I was treated with Payoneer staff.
It is in detail under the section of Payoneer customer support.
But when it comes to my experience with Skrill customer support, I was not much impressed.
First of all, it took a bit of time for me to get to the section where I could contact their support team.
The support page kept me busy in finding my answer among the questions.
The process was the same as it is there with Payoneer up till now.
When I reached their required page and asked my query, I was not sure whether it had been successfully sent or not.
I remember the support page being crash for once or twice and there was no record of what I had sent as a question.
There was only the notification that my query has sent and that I will get a reply from their support team.
As I had created multiple tickets for multiple questions, it was difficult for me to recognize which ticket number is associated with which of my questions.
I also felt that their support team was not ready to give detailed answers to my questions as I experienced with Payoneer.
For example, I had asked the Skrill support that I could not see the option of ordering my MasterCard on the Skrill website.
I had signed up for an account, and I was looking for the option to order my MasterCard.
I had inquired about the same from their customer support.
In a very short reply, they told me that my country is not supported with Skrill MasterCard. That was it.
It was contrary to the extra hand support provided to me by Payoneer customer care.
They even asked me to provide them with the new shipping address for my MasterCard if my address had changed.
The point I am trying to make here is that I did not feel that I would want to contact Skrill with a happy mood again.
Yes, they answered my question.
But the pain to make a customer or retain an existing one was somewhat missing.
So, these are some of the challenges with Skrill’s support.
But overall, Skrill support does the job and gets you satisfied with the short answers that their team provides.
But as compared to the quality of services with Payoneer, the Skrill support team needs serious improvements.
Payoneer VS Skrill Affiliate Program
Payoneer offers its new users an attractive affiliate program.
It comes with the benefits of having $25 for promoting Payoneer so that new users get themselves registered with Payoneer.
If you are successful in getting a user registered through your affiliate link, you get a $25 commission for every customer referred to Payoneer.
On the other hand, Skrill also comes with a unique affiliate program.
But it is not that simple as they say on their dedicated affiliate website.
Contrary to Payoneer, Skrill offers you to have lifetime commissions from the revenue they generate with the funds of the accounts that you had referred to them.
Let me explain that in simple terms.
You will not get a fixed amount of dollars for referring a user to Skrill.
You will have to wait until the user you had referred deposits funds in his or her Skrill account by any means.
Skrill will then do business with the funds deposited in accounts of its users and will pay you from the revenue that Skrill generates with the amount deposited by your referred accounts.
Skrill offers 20% share of the revenue generated with the money deposited by your accounts in Skrill.
In a way, Skrill’s affiliate program is not that difficult to grasp and is even better than the one offered by Payoneer.
Payoneer only offers a flat rate of $25 for the accounts referred by you.
It does not matter whether your referred account had a few hundred dollars in his or her Payoneer account or has millions of dollars.
You will only get $25 for just referring him to this platform. That is it—end of the story.
But with the Skrill affiliate program, you can earn as much as you can.
You will keep earning as soon as your referred accounts start earning and depositing their funds in their Skrill accounts.
You may also have growth with Skrill’s affiliate program.
Suppose if a person opened up a Skrill account with your special affiliate link and starts earning thousands or tens of thousands of dollars per month.
You will get a straight commission of 20% from Skrill’s revenues.
It may be even higher if you consider it and plan your affiliate marketing techniques wisely.
Let’s say if a Skrill user referred by you earns $10,000 per month regularly, and Skrill adds a $1000 in revenues from this deposit, you will get $200 per month for referring this single account.
Plus, it’s a lifetime opportunity. A great source of passive income.
Payoneer VS Skrill in Pakistan
Skrill is also available in Pakistan but with certain limitations.
You cannot have a Skrill MasterCard in Pakistan.
You have to have enough funds in a Skrill account to kickstart Skrill’s online options.
As most of the transactions in countries like Pakistan are made in dollars, Skrill is not the most favorite online payment provider in Pakistan.
Most of the Pakistani freelancers and businesspersons use Payoneer as their favourite choice and commitment to working in USD.
A great chunk of the population uses Payoneer as the medium to send and receive money from across the borders, and they do it with ease and peace of mind.
This is the current situation in Pakistan as of 2020.
The Internet dynamics are so vibrant that there will be no wonder if we would see Skrill dominating Payoneer in the near future.
They can only do so if they increase their currency conversion rates, add more supported currencies, shorten the payment process times, and increase the quality of their customer service.
Should you prefer Skrill over Payoneer?
Every online payment provider has to offer something unique to stay competitive in the market.
Skrill has much to offer its customers too.
The salient features of the options that are offered exclusively by Skrill are men below.
You can also consider these points as the pros and cons of Payoneer and Skrill.
- Skrill is a safe platform to use cryptocurrency. If you’re the one who had to buy or sell a cryptocurrency, Skrill may be the right option for you.
- Skrill is suitable for people who are interested in lower and free transaction rates. Skrill fees are even 0.00% for the users who registered on or before a certain date. Maybe it is some kind of promotion they keep running from time to time or their way of attracting new customers that they offer zero charges for the transaction. The details are on the official Skrill website.
- One massive drawback of Skrill is that it does not support accepting payments in US dollars. Surprising, right? So, if you are working with a client who pays in USD, Skrill will be a problem to receive your payments. You have to process your transactions in the Euro currency.
- Both platforms provide almost equal services in terms of mobile coverage for users. They have mobile apps and can be downloaded and used for android and iOS devices. And have almost equal access to the information that Skrill and Payoneer users can enjoy with the mobile apps.
- You can consider having a Skrill account preferred over Payoneer if you have to make the transactions in other currencies supported by Skrill and not in US Dollars. As you cannot receive an amount from anyone in the US dollars with Skrill.
- You will want to go for Skrill if you are planning on earning affiliate commissions via Skrill in large amounts. With Payoneer, you earn commissions with a high number of referrals. With Skrill, you earn commissions with the quality-focused referrals rather than the number of referrals.
Payoneer In India
Payoneer has also been popular in India as there is a huge demand for online payment transfers in the Indian industry.
With all the challenges in the Indian market, Payoneer has been struggling to find its feet in the country.
It initially aspired to cover the whole Indian market by offering all or most of the features and benefits that the firm provides in the rest of the world.
However, the journey of Payoneer’s entry into India has been topsy turvy.
The firm entered India with full zeal and zest but got into some troubles later on.
It was also discontinued for a few years in India resulting in the loss for the firm and Indian online users.
Still, it entered the market again and is currently present in India with a few limitations.
The details regarding Payoneer’s journey and current status in India have been discussed below in a bit of detail.
Just like any other country, the main purposes of having a Payoneer account in India are as follows.
- Sending and receiving payments for freelancing.
- Online businesses.
- Ecommerce solutions.
- Technology-related matters.
- International funds transfer, etc.
To cover a massive population of 1.4 billion people is not an easy task.
It is the number any financial company cannot afford to miss.
With all that dreams of a huge financial influx, Payoneer entered Indian market but could not be that successful.
The details are below.
History of Payoneer in India
It would be pertinent to have a bird’s eye view of Payoneer’s history in India as it will clear the picture in a better way.
Payoneer entered the Indian market to capture the gigantic flow of online payments from tech-savvy Indian individuals, online retailers, and freelancers.
As one of the largest populations in the world, India offered a huge chance of business growth for Payoneer.
That is why Payoneer started its operations in India.
The matter became complicated when Payoneer had discussions to resolve financial issues with Indian banks to regulate payments.
The process of approvals became a hurdle for Payoneer that resulted in rolling back its operations from India back in 2011.
Payoneer had to close its operations in India, and the Indians largely shifted to PayPal, which was also present there with certain limitations.
Payoneer remained closed for some years until 2016 when it was once again available for the Indians for online transactions.
It came back with certain rules and limitations for the Indian market.
Payoneer went on to become one of the pioneers in the Indian industry to provide Foreign Remittances directly to the local banks.
This brought a sigh of relief for the Indian users, and it once again became the source of online money transfers in India.
Payoneer MasterCard in India
Payoneer has a limitation of issuing its prepaid MasterCard in India.
It is no doubt present there in the Indian market, but unlike its prepaid MasterCard services in other countries, it does not allow Indians to order and use its prepaid MasterCard.
The same trouble that this firm had with the local banking system of India was the reason why Payoneer MasterCard was blocked and is still not available in India.
We do hope that the firm resumes its prepaid MasterCard services for Indian users too once the local banks in India have finalized the matter.
The government of India, however, seems more focused on expanding the operations of PayPal in India, but it is always good to have multiple options in one country.
It not only provides the choice for the users to choose one service from the available options but also creates a sense of competition between them to oust one another.
A healthy competition between the firms mostly goes in favour of the customers.
Other Limitations of Payoneer in India:
One of the main limitations of Payoneer in India is that Indian Payoneer users can only accept payments from companies in other countries including the US, UK, the EU, Canada, Mexico, Japan, and Australia.
Payoneer does not offer Payoneer to Payoneer individual funds transfer in India.
It only offers Payoneer to Payoneer funds transfer within business accounts.
This is a serious limitation that might affect professionals like freelancers in India.
They cannot receive payments for their services from the companies who do not have a company account on Payoneer yet.
The companies post most of the freelancing jobs, but there are chances when an individual can hire a freelancer to do the work on his behalf.
But when it would come to pay for his or her services, Payoneer would be a problem.
Another limitation of Payoneer in India is the selection of countries from which the payments can be to the Indian users.
Although the mainstream countries are present in the list provided by Payoneer for their Indian chapter.
Still, this remains a limitation as Indians are limited to working for the clients based in the US, UK, the EU, Canada, Mexico, Japan, and Australia.
The clients are around the world. Many freelancing orders are posted by the clients who do not live in the countries mentioned above.
So, being an Indian freelancer or a businessperson, you have to be wary of the countries supported by Payoneer in India for sending or receiving payments.
This issue is, however, manageable.
You can always have a Payoneer account along with having other online money transfer platforms.
For example, you can use Payoneer for the transactions you need to make with the clients who belong to the countries mentioned above.
You can use other services like PayPal for the clients who belong to the countries not mentioned in the list of countries supported in India.
Payoneer, however, comes with all of its sparkling benefits for the Indian users.
The absence of Payoneer MasterCard does not seem to repel Indian users.
As there are quite a number from the online industry in India who use Payoneer as their preferred source of sending and receiving money from across the borders.
The daily and monthly transaction limits, exchange rates, and transfer fees, etc. charged by Payoneer in India are the same as I have already mentioned in this article.
In the bottom line for this part of the article, I would say that although Payoneer could not gain many shares of the Indian market as compared to PayPal.
Also, it is still one of the most desired online payment providers in India due to the benefits it comes with.
People of India are more inclined towards PayPal as it has way more international coverage as compared to Payoneer.
At the same time, people who know the major differences between PayPal and Payoneer tend to be inclined more towards Payoneer.
They do not want to burn out their money with PayPal under the heads of transfer fees and exchange rates, etc.
That is why Payoneer is more in demand by some sections of business spheres in India.
Payoneer for Pakistan
Payoneer has a different story in Pakistan altogether.
Pakistan industry gave a warm welcome to Payoneer when it entered the local market to give online payment transfer options to the online retailers, shoppers, freelancers, and tech lovers in Pakistan.
PayPal also entered Pakistan, but PayPal’s story with Pakistan resembles much to Payoneer’s story in India.
It has entered Pakistan just to face the challenges it did not face in the rest of the world.
PayPal started its operations in Pakistan on a limited scale.
The problems like security and legal issues, including the money laundering cases were the reason behind putting PayPal to trouble in Pakistan.
The result of PayPal being banned in Pakistan, resulting in the loss of getting its share in the online world for Pakistan.
This is where Payoneer jumped in and took the lead in supporting Pakistan’s online industry.
As PayPal remains banned in Pakistan, you need not worry at all for making international transactions, especially in USD, Euro, and GBP.
Because Payoneer is one of the best options available for Pakistani marketers, freelancers, and online business owners to send and receive payments conveniently.
Although there are people in countries like India, Pakistan, and Bangladesh who do not make full use of the options provided by firms like Payoneer.
But there are some serious businessmen and freelancers who largely depend on Payoneer as their businesses and online jobs are meaningless without it.
Why would you be doing an online business or freelancing if you would not have any option to receive your payments in your local currency.
The money is not real until and unless it becomes available in your pocket.
The story of Payoneer referrals in Pakistan
A section of people from India and Pakistan tend to believe that they can earn money just by signing up with an affiliate link of Payoneer.
So, they plan on earning $25 by getting others to register on this platform, and they think they can keep earning dollars this way.
I would like to explain Payoneer’s process of giving $25 as a referral bonus in simple words.
You can only get $25 when the new Payoneer account that signed up using your affiliate link receives a certain amount in his or her Payoneer account.
You must understand this simple concept of Payoneer’s affiliate program.
Payoneer MasterCard in Pakistan
Unlike in India, Payoneer’s debit MasterCard is supported in Pakistan.
And you can sign up for your very own MasterCard via Payoneer’s website.
They send the card free of cost.
The charges (annual fee) will be deducted somewhere in the middle of the year as payment of this MasterCard.
Pakistan also enjoys a relatively higher trust by Payoneer as the firm offers tremendous benefits for the Pakistani public.
Generally speaking, Pakistani users do not have many complaints for Payoneer as their support staff is also very cooperative.
If you have dollars in your Payoneer’s account, the support team will come to know that you are a serious user and you mean business with Payoneer.
This is the point where you get more attention from their support team.
- Banks that support Payoneer in Pakistan
- The local banks also support Payoneer in Pakistan. The list of Payoneer supported banks in Pakistan include the following.
- Muslim Commercial Bank (MCB)
- Bank Alfalah
- Standard Chartered Bank
- Faysal Bank
The ATMs of the banks mentioned above support direct transactions from Payoneer MasterCard.
Do not forget to make use of the instructions I gave you about using Payoneer MasterCard on the ATMs in Pakistan.
Otherwise, you will surely get charged per transaction.
Payoneer in Bangladesh:
How come Payoneer could ignore a population of around 170 million by not making its presence in Bangladesh? Payoneer is available in Bangladesh with most of its international services and benefits.
If we just talk about freelancing in Bangladesh, it is estimated to be around 27% share.
That is huge, and it brings Bangladesh in the top 10 list of countries involved in freelancing.
Currently, Bangladesh is the 8th largest country in terms of growing numbers of freelancing trends in the world.
As every freelancer requires a medium to get paid, Payoneer becomes much relevant in that proportion for Bangladesh too.
Apart from freelancing, there is a huge trend of online transactions in Bangladesh.
The trends of e-commerce and information technology keep the relevance of Payoneer-like services alive in Bangladesh.
As PayPal is an issue in Bangladesh, too, online payments can be made easily through Payoneer.
Although there are some longer processes to use PayPal in Bangladesh, it is always advise to go for the legal one and the one that is in your reach and control.
With Payoneer in Bangladesh, you can have all that you want with an online payment transfer company.
You can earn as much as you want and get those funds in your local bank account with no hassle and confusion.
Additionally, the time it takes to appear the funds in your local bank account is also very short with Payoneer.
So, the firm is there in this country with all of its planning and financial targets.
Payoneer also extends its MasterCard service in Bangladesh.
The process is similar to that of Pakistan’s or in any other country where a Payoneer user is allowed to have a MasterCard.
The features and benefits of having a Payoneer account in Bangladesh are the same as they are in any other country.
In short, Payoneer is one of the topmost options when it comes to having online money transactions in Bangladesh.
Customer Reviews of Payoneer:
I would give an honest 4.7 rating out of 5 for my personal experience of using Payoneer.
With above 4 million users worldwide, Payoneer has managed to get this much of rating from all around the globe.
That is because of its additional features that are missing with other online payment providers.
Why have the customers deducted 0.3 from the ratings? That is because of the drawbacks that come with a Payoneer account.
Read the section of “Cons of Payoneer”, and you will come to know what Payoneer needs to improve.
Payoneer review summary:
We have discussed Payoneer in detail, along with its sparkling features and benefits.
There is no doubt that Payoneer is one of the most desired online payment service providers in the world.
While many other online payment services are similar to Payoneer.
It is evident that one must consider opting for Payoneer to make online transactions at lower costs and faster services.
Where is Payoneer available? The list of countries that support Payoneer:
Payoneer is available in around 150 countries that are listed below.
Although it can differ in which currencies are available with Payoneer in certain countries, Payoneer is certainly present out there in some form in the countries mentioned below.
Payoneer exclusively covers some of the territories.
- American Samoa
- Antigua and Barbuda
- Bosnia and Herzegovina
- Caribbean Netherlands
- British Indian Ocean Territory
- The British Virgin Islands
- Burkina Faso
- Myanmar (Burma)
- Cape Verde
- Cayman Islands
- Central African Republic
- Democratic Republic of the Congo
- Cook Islands
- Costa Rica
- Côte d’Ivoire
- Czech Republic
- Dominican Republic
- El Salvador
- Equatorial Guinea
- Falkland Islands
- Faroe Islands
- French Guiana
- French Polynesia
- Gabon Georgia
- Greece Greenland
- Vatican City
- Hong Kong
- Isle of Man
- South Korea
- New Caledonia
- New Zealand
- Papua New Guinea
- Puerto Rico
- St. Barthelemy
- St. Helena
- St. Kitts and Nevis
- St. Lucia
- St. Martin
- St. Pierre and Miquelon
- St. Vincent and Grenadines
- San Marino
- Sao Tome and Principe
- Saudi Arabia
- Sierra Leone
- Sint Maarten
- Solomon Islands
- South Africa
- Sri Lanka
- Trindad and Tobago
- Turks and Caicos Islands
- United Kingdom
- United Arab Emirates
- United States
- US Virgin Islands
If you want to check which currencies are supported by Payoneer in the countries and territories mentioned above.
You can check that by clicking here.
If you did not find the country or territory in the list provided above, then your territory is most likely not supported by Payoneer.
You may keep checking the Payoneer page for more updates.
This does not rule out the option of opening up the Payoneer platform in the territories not currently included by Payoneer.
Payoneer keeps striving to increase its presence worldwide, and further countries and territories can be among the list of locations listed above in the future.