Learn How to Set Up Your Payoneer Account: A Beginner’s Guide

Payoneer Taxes

Navigating the realm of online payment solutions can be daunting for many, especially when looking to manage international transactions seamlessly. Payoneer emerges as a notable figure in this space, offering an efficient platform for global payments. It’s a beacon for entrepreneurs, freelancers, and business owners searching for a reliable method to conduct cross-border financial activities. Understanding what is a Payoneer account is the first step towards tapping into a network that connects you with over 3,500 partners worldwide, including major marketplaces like Amazon.

This beginner’s guide is designed to unravel the essentials of how to create a Payoneer account, from signing up and verifying your identity to linking your bank accounts and utilizing the Payoneer Mastercard for day-to-day transactions. Additionally, readers will discover how to maximize the benefits of Payoneer’s multi-currency card and virtual card for online payments, making international payments not just possible but efficient. As we delve into the functionalities of Payoneer, the aim is to provide a clear roadmap to managing your global payments with ease and confidence.

Understanding the Basics of Payoneer

At the core of its operations, Payoneer prioritizes the security and flexibility of its users, making it a preferred choice for managing global payments. Understanding the basics of Payoneer involves recognizing its commitment to providing a secure and compliant platform for international transactions. Here are the key aspects:

  • Security and Compliance:
    • Advanced encryption and fraud detection technologies protect user information and transactions.
    • Compliance with global regulatory standards, including anti-money laundering (AML) and know your customer (KYC) regulations, ensures transactions adhere to legal and financial guidelines.
  • Payment Flexibility:
    • Various payment methods are supported, including bank transfers, e-wallets, and a prepaid Mastercard®, catering to diverse user needs.
    • Local receiving accounts available in currencies such as USD, JPY, AUD, EUR, and more, function like bank accounts but are not actual bank accounts, offering convenience without the complexity.
  • User-Focused Services:
    • Tailored for freelancers, e-commerce businesses, and digital service providers, Payoneer offers fast and secure international transactions, multi-currency support, and low fees.
    • Integration with accounting software and a user-friendly mobile app enhance the user experience, making financial management more accessible.

Payoneer’s approach to global payments is designed to simplify the process for its users, whether they are sending or receiving funds. The platform’s robust security features, such as two-factor authentication and account activity monitoring, further ensure the safety of user funds and information. With the ability to receive payments globally and the flexibility to manage funds across multiple currencies, Payoneer stands out as a comprehensive solution for freelancers, businesses, and anyone looking to streamline their international payment processes.

Signing Up for a Payoneer Account

Creating a Payoneer account is a straightforward process designed to integrate seamlessly with your financial activities, whether for personal or business use. Here’s how to get started:

  1. Begin the Registration Process:
    • Navigate to the Payoneer website at
    • Click on the ‘Register’ button to open the account creation page.
  2. Choose the Account Type:
    • Select between Individual (for personal use) or Business (for company use, including sole proprietors).
  3. Fill in Your Details:
    • Personal or Company Information: Enter your full name, date of birth, company name (if applicable), registration number, and tax ID.
    • Contact Details: Provide your email address, create a password, and choose a security question for added protection.
    • Identification Information: Input your ID type (e.g., passport, driver’s license), number, issue date, and expiration date.
    • Bank Details: Specify your bank account information, including the account holder’s name, bank name and address, account number, and SWIFT/BIC code.
    • Accept the terms and conditions to proceed.

After submitting your application, Payoneer will review the provided information. This process typically concludes within three business days. Upon approval, you will receive an email notification containing instructions on how to activate your account. This email is crucial as it marks the final step in ensuring your Payoneer account is set up and ready to handle transactions. Make sure to check both your inbox and spam folder for the activation message from Payoneer.

By following these steps diligently, you will establish a Payoneer account that grants access to a world of global payment solutions, including the Payoneer Mastercard and virtual card for versatile online payment options. Whether you’re a freelancer, an entrepreneur, or a business looking to navigate international payments, Payoneer offers the tools and services to facilitate these processes efficiently.

Verifying Your Payoneer Account

Verifying your Payoneer account is a crucial step to ensure full access to its features and to comply with financial regulations. Here’s a breakdown of the verification process and the types of documents you may need to submit:

Verification Methods:

  • Bank Account Details Verification:
    • Payoneer may request a bank statement or conduct micro-deposits to verify control over the bank account. This step is vital for security, minimizing fraud risk, and complying with partner requirements.
    • Micro-deposits:
      1. Payoneer sends two small deposits to the bank account listed during registration.
      2. These deposits, labeled as ‘Payoneer bank verification’ or ‘Payoneer Inc.,’ can take up to 3 business days to appear.
      3. Once received, enter the deposit amounts in the Verification Center of your Payoneer account to complete this step.

Required Documentation:

  • For Individual/Sole Proprietors:
    • Government-issued ID (passport, driver’s license)
    • Proof of address (utility bill or bank/credit card statement, no older than three months)
    • Bank verification document (official bank statement showing bank name, account number, and full name)
  • For Registered Companies:
    • Certificate of Registration/Incorporation
    • Tax document, IRS document including EIN
    • Business license, Proof of company activity
    • Company address verification (recent utility bill, bank/credit card statement, or company verification document under the company’s name)

Document Submission Process:

  1. Access Verification Center:
    • Sign in to Payoneer, click the profile icon, select ‘Settings,’ then ‘Verification Center.’
  2. Document Quality:
    • Ensure documents are not cropped, in high quality, and the flash does not obscure any information.
  3. Review Time:
    • Document review times may vary. Payoneer might reject documents for reasons like poor image quality, missing or mismatched information, irrelevant content, password protection, or expired documents.

Following these steps will help streamline the verification process, allowing you to utilize your Payoneer account for global payments, access the Payoneer Mastercard, and enjoy the full range of Payoneer’s services without interruption.

Linking Your Bank Account with Payoneer

To manage and withdraw funds effectively, users can link multiple bank accounts to their Payoneer account. This flexibility ensures that users can access their funds whenever needed, in over 190 countries and across 70 currencies. Here’s a straightforward guide on managing and adding bank accounts in your Payoneer account:

Adding a New Bank Account

  1. Sign in to Payoneer: Navigate to the main menu and select ‘Bank accounts’.
  2. Access Bank Accounts for Withdrawal: Choose ‘Bank accounts for withdrawal’ followed by ‘Add bank account’.
  3. Enter Bank Account Details: Follow the on-screen instructions to input your bank account information accurately.

Managing Bank Accounts

  • Edit or Remove: Users can easily manage their bank accounts, including adding new ones or removing old ones, by navigating to ‘Bank accounts’ > ‘Bank accounts for withdrawal’. Here, you can select the bank account you wish to delete and click ‘Delete account’ in the bottom right corner.
  • Active Bank Accounts: Up to three active bank accounts for withdrawal can be maintained simultaneously, with the option to add up to 500 recipient bank accounts, subject to eligibility.
  • Nicknames and Funding Sources: Personalize your bank account with a nickname for easy identification and view connected funding sources by selecting the relevant bank account and then ‘Funding sources’.

Linking Bank Accounts Using Plaid for Faster Payments

  • Faster ACH Bank Debit Payments: By linking a bank account through Plaid, users can enjoy ACH bank debit payments that are up to 5 times faster than regular ACH debits.
  • Verification and Funds Check: This integration allows Payoneer to verify that the bank account details match the user’s details and to ensure there are sufficient funds for the payment.
  • Privacy and Security: Both Payoneer and Plaid prioritize user privacy and security, with no storage of users’ account login information and end-to-end encryption of banking data.
  • Linking Process: To link a bank account for faster payments, select ‘Payments within 1 business day at no additional cost – Powered by Plaid’ in the Payoneer online payments application.
  • Unlinking a Bank Account: If necessary, users can unlink their bank account by either contacting their bank to disconnect from Plaid or by logging into the Plaid Portal and managing their payment methods.

By following these steps, users can ensure their Payoneer account is optimally set up for receiving and sending payments globally, with the added benefit of managing multiple bank accounts and utilizing faster payment methods through Plaid integration.

Receiving Payments through Payoneer

Receiving payments through Payoneer is designed to be a seamless process, accommodating a variety of payment methods and catering to a wide range of user needs. Here’s how to efficiently manage and receive funds using Payoneer:

Receiving Funds:

  • Accessing Payment Accounts:
    1. Under the Receive menu, click on Receiving Accounts.
    2. Select an account that best suits the type of payment you are expecting. Payoneer offers local receiving accounts that mimic traditional bank accounts, enabling users to receive funds with ease.
  • Filing Expenses or Invoices:
    • When using platforms like Open Collective, utilize the details provided by Payoneer to file an Expense or Invoice. Choose to be paid via bank account option for straightforward transactions.
  • Payment Methods Supported by Payoneer:
    • Bank Transfers
    • eZ Cash Integration
    • Online eWallet
    • Payoneer Prepaid Mastercard®

Withdrawing Funds:

Payoneer provides flexible options for accessing your funds, ensuring that you can use your money in a way that best suits your needs.

  • Withdraw to Local Bank: Convert your funds to local currency and withdraw to a bank account of your choice.
  • Free Transfers to Payoneer Customers: Send funds directly to another Payoneer account holder anywhere in the world without incurring fees.
  • ATM Withdrawals and Online Purchases: Use the Payoneer card to withdraw cash from ATMs worldwide or for both online and in-store purchases.

Marketplace and Platform Payments:

Payoneer simplifies receiving payments from leading marketplaces and networks, offering integration with hundreds of global partners.

  • Supported Platforms Include:
    • Fiverr, Upwork, 99Designs, Freelancer
    • Amazon Affiliate Program, PeoplePerHour, TeeSpring
    • Airbnb, Envato, Expert360, and more
  • Fees and Payment Variability:
    • Note that fees for receiving money can vary depending on the platform, such as Upwork, Airbnb, and CJ Affiliate. It’s important to review the specific fees associated with each marketplace to manage your finances effectively.

By understanding these key aspects of receiving payments through Payoneer, users can take full advantage of the platform’s capabilities. Whether you’re a freelancer, a small business owner, or working with international clients, Payoneer offers a robust solution for managing global payments with ease.

Sending Payments with Payoneer

Sending payments with Payoneer is a streamlined process, designed to facilitate business transactions across 190+ countries and territories. Whether you’re paying a supplier, contractor, or making a payment to another Payoneer customer, the platform offers a variety of methods to suit your needs. Here’s a breakdown of how to send payments through Payoneer, ensuring you can manage your global payments efficiently:

To Payoneer Customers:

  1. Log in to Payoneer and navigate to Pay > Pay to a recipient’s Payoneer account.
  2. Enter the recipient’s details: Include their name and select the currency balance or card you wish to use for the payment.
  3. Specify payment details: Input the amount, select a purpose for the payment, and provide a transaction description.
  4. Review and confirm: Double-check the payment details for accuracy, then click Pay.
    • Payments are usually processed within 2 hours, with recipients notified via email once funds are credited.
    • A fee may apply, varying by country, currency, and amount.

To Non-Payoneer Customers:

  1. Access your Payoneer account and select Pay > Pay to a recipient’s bank account from the main menu.
  2. Complete recipient information: Choose the Payoneer balance for payment and enter the recipient’s bank account details.
  3. Payment details: Input the amount and add a payment reference or transaction description.
  4. Finalize the transaction: Review all the details carefully before clicking Pay.
    • Fees for these transactions depend on currency conversion requirements and the recipient’s location.

Payment Methods and Planning:

  • Available Payment Methods: Choose from credit card, debit card, local or international bank transfer, ACH bank debit, and eWallet for sending money.
  • Scheduling Payments: Payments to a recipient’s bank account can be scheduled up to 90 days in advance, including the option for recurring payments.
  • Monthly Limits: Be aware of the overall monthly payment limit. If exceeded, contact Payoneer for assistance.
  • Minimum Account Balance: Ensure at least 500 USD (or equivalent) has been received into your Payoneer account before initiating business payments.

By following these guidelines, Payoneer users can navigate the payment process with ease, ensuring timely and secure transactions for business needs. Remember, payments are strictly for business transactions, reinforcing Payoneer’s role as a comprehensive solution for global business payments.

Navigating the Payoneer Dashboard

Upon logging into Payoneer, users are greeted by a dashboard designed for ease of navigation and access to essential account management features. The dashboard is segmented into key areas, each serving a distinct purpose:

  • Activity: This tab presents a chronological list of transactions, detailing dates, types, and amounts, allowing users to quickly review their financial movements.
  • Balance: Here, users can see their current available funds. If they hold balances in multiple currencies, each is displayed separately, providing a clear view of financial standing across different markets.
  • Payments: This section is dedicated to managing incoming and outgoing payments. Users can request payments, check the status of pending transactions, and adjust settings related to payment methods.
  • Reports: For a deeper dive into financial activity, this area offers comprehensive breakdowns that can be customized by date range and category, aiding in detailed financial planning and analysis.
  • Settings: Users can tailor their Payoneer experience in this tab, modifying account preferences including preferred language, currency, and enhancing security settings.

To access these features, users should:

  1. Open Google Chrome for optimal compatibility.
  2. Sign into their Payoneer account, whereupon the dashboard will be the first point of contact.

For those needing a detailed transaction history:

  • Click on the Transactions tab to view recent activity.
  • To download or print this information, select View All and choose the preferred option (PDF download or direct print).
  • Monthly statements can be generated by selecting the Monthly Statement option, providing a consolidated view of account activity.

Additionally, Payoneer’s mobile app enhances the user experience by offering easy transfers and round-the-clock customer support. This app is available for download on the App Store, ensuring that users can manage their accounts and access Payoneer services conveniently from anywhere.

Accessing and Managing Your Funds

Users have the flexibility to set up various payment methods in their Payoneer account to streamline their financial transactions. These include:

  • Bank Transfers: Easily transfer funds directly to your local bank account.
  • E-Wallets: Utilize digital wallets for quicker, more convenient transactions.
  • Payoneer Prepaid Mastercard®: A versatile card for ATM withdrawals and retail purchases.

However, it’s important to be aware of the fees associated with using Payoneer. These can include:

  • Transaction Fees: Applied to certain types of transactions.
  • Currency Conversion Fees: For converting funds between different currencies.
  • ATM Withdrawal Fees: A fixed charge for using ATMs with the Payoneer Mastercard.

For users managing multiple Payoneer accounts, the platform offers a Manager Account feature, simplifying the oversight of various accounts through a centralized dashboard. Key functionalities include:

  • Aggregated Balances and Details: View overall balances and individual account details.
  • Centralized Fund Transfers: Transfer funds between connected accounts and the manager account, either automatically or on-demand.
  • Configuration Options: Set aside funds in connected accounts and adjust permissions as needed.

Accessing the Manager Account feature is straightforward:

  1. Go to the Payoneer account settings page.
  2. Look for ‘Manager Account Settings’ to adjust permissions or connect/disconnect accounts.

Payoneer’s Bank Accounts page enhances the management of local bank accounts, allowing users to:

  • Add or Delete Bank Accounts: Easily manage your banking details.
  • Edit Bank Account Information: Update your bank details as necessary.
  • Withdrawal Process: Initiate withdrawals to your bank account, keeping in mind potential delays and specific withdrawal fees.

For international dealings, Payoneer’s multi-currency account feature is invaluable, enabling users to:

  • Reach New Markets: Conduct business globally with ease.
  • Manage Multiple Currencies: Keep funds in different currencies to comply with local regulations.
  • Free MasterCard for Withdrawals: Use the Payoneer Mastercard for free ATM withdrawals, adhering to the nominal fees for certain currencies and transactions.

This comprehensive approach to fund management and the ability to navigate through various payment methods make Payoneer a robust platform for global financial transactions. With multilingual customer support available 24/7, users can resolve any issues and ensure their financial operations run smoothly.

Exploring Advanced Features of Payoneer

Payoneer’s advanced features extend beyond basic payment processing, offering comprehensive solutions tailored to various business needs. Among these, Capital Advance stands out as a pivotal service for marketplace sellers, providing them with the financial flexibility to grow their operations. Here’s a closer look at some of these advanced offerings:

  • Capital Advance for Marketplace Sellers:
    • Pre-approved Offers: Sellers on Amazon and Walmart can benefit from pre-approved Capital Advance offers, which don’t require personal guarantees or collateral.
    • Eligibility: Determined by the seller’s payment history and other factors, ensuring that the advance is tailored to the seller’s financial health.
    • Fixed Fee Structure: The fee for Capital Advance is a fixed percentage of the advance amount, making costs clear and predictable.
    • Flexible Settlement: Settlement of the advance is collected gradually from future marketplace earnings, easing the repayment process.
    • Currency and Marketplace Support: Amazon sellers can receive offers in USD, GBP, or EUR, catering to stores on and its European counterparts. Walmart sellers eligible for offers must have their payment address in the United States, including Puerto Rico.
  • API Integration and Compliance:
    • Automated Payments: Payoneer offers an API for businesses to automate their payment processes and manage large volumes of transactions efficiently.
    • Regulatory Compliance: The platform adheres to anti-money laundering (AML) and know your customer (KYC) regulations, backed by advanced encryption and fraud detection technologies to protect user information and transactions.
  • Additional Features for Enhanced Operation:
    • Functionality Score: With a functionality score of 4.3 out of 5 on GetApp and 677 features across 3 categories, Payoneer is highly versatile.
    • Areas of Advanced Features: These include Data Security, Payment Processing, and Reporting/Analytics, providing businesses with the tools they need for comprehensive financial management.
    • Integration Partnerships: Payoneer has formed partnerships with various companies, enhancing its service offering through seamless integration.
    • Competitive Fees: While Payoneer charges fees for its services, it strives to keep them competitive, offering lower transaction fees and more security compared to alternatives like PayPal.

By leveraging these advanced features, Payoneer users can not only manage their global payments more effectively but also gain access to capital that can help scale their operations, secure in the knowledge that their transactions are protected by the latest in security and compliance standards.


Throughout this comprehensive guide, we’ve explored the multifaceted platform that Payoneer offers, meticulously covering the steps to set up and verify a Payoneer account, linking bank accounts, receiving and sending payments, and navigating through the Payoneer dashboard for efficient financial management. The essence of Payoneer’s appeal lies in its robust security features, flexibility in managing global payments, and a suite of advanced functionalities designed to cater to the diverse needs of freelancers, entrepreneurs, and businesses aiming for global outreach. The platform’s integration with over 3,500 partners, including major marketplaces like Amazon, emphasizes its pivotal role in streamlining cross-border transactions.

The journey through Payoneer’s ecosystem underscores the platform’s commitment to providing a secure, compliant, and user-friendly environment for international transactions. By harnessing the tools and services Payoneer offers, users are well-equipped to navigate the complexities of global payments, receive funds from international marketplaces, and manage their financial operations with unprecedented ease. As we conclude, it’s clear that Payoneer stands as a beacon for those looking to expand their financial horizons, urging a further exploration into its services to fully capitalize on the opportunities that lie in global commerce and digital payments.


How Do I Open a Payoneer Account?

To open a Payoneer account, follow a series of straightforward steps. The process involves providing personal and financial information, verifying your identity, and setting up your account preferences.

What Is Payoneer and How Does It Work?

Payoneer is a global payment platform that offers a wide range of financial services to freelancers and businesses. With a Payoneer account, you can receive payments from clients and marketplaces, transfer funds from your bank account, pay suppliers, cover business expenses, access working capital, and expand your business internationally.

How Much Time Does It Take to Activate a Payoneer Account?

Typically, the review process for a new Payoneer account takes up to 3 business days. However, there may be instances where additional information or documentation is required before the account can be approved.

Receiving Your First Payment Through Payoneer: What Should You Know?

When you’re ready to receive your first payment through Payoneer, you’ll be provided with the details of a receiving account tailored to a specific country or currency. You’ll need to share these details with the company or marketplace you’re working with. They will then use this information to send a bank transfer directly to your Payoneer account, allowing you to access your funds.


Jack Quy

About Author

Jack Quy is the founder of, a site dedicated to providing insights into freelancing and blogging from his own experience since 2009. His blog is full of great tips and strategies for all things related to working as a freelancer and blogger. No matter your level of experience, these invaluable hints and advice will help you reach your objectives. Be it if you're beginning in the industry or already have some working knowledge, this information is sure to be useful.

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