Payoneer

Payoneer is a financial services business that provides online money transfer and e-commerce payment services. Payoneer is a registered Member Service Provider (MSP) of MasterCard Incorporated. The company is headquartered inNew York City. Payoneer was founded in 2005 with $2 million in seed funding from then-CEO Yuval Tal and other private investors. Israeli venture capitalist firm Greylock Partners provided an additional $4 million in funding in 2007.It was also funded by Carmel Ventures, Crossbar Capital, Ping An, 83North,Wellington Management, Susquehanna Growth Equity and Nyca Partners.

How do I apply for a Payoneer Account?

To apply for a Payoneer Account, simply log in to your online account with your Payoneer mass payout company, select Payoneer as your payment method, and you will be directed to an application page. If you are receiving payments from a company that does not currently offer Payoneer, please Contact them for further assistance.

If you do not have an account with a Payoneer mass payout company and would like to receive payments via our Global Payment Service, you can apply for an account directly through the Payoneer website.

Please note: You should only sign up if you are expecting to receive payments from our official mass payout companies or via the Global Payment Service. All applicants are required to be over the age of 18.

Payoneer Fees Explained

The fees and charges for Payoneer card and its international US/EUR Payment Services differ with different accounts and countries. Moreover, it highly depends on how and where you applied your card from. Fees for accounts signed up from different Payoneer partners are somewhat similar but in no way exactly the same.

All Payoneer Fees and Charges (as of 2015)

1. Card Activation Fee

The card activation fee is charged when you first activate your prepaid MasterCard debit card. Generally, this charge is debited from your account when you receive your very first payment. This payment might come from a Payoneer partner or from a US company through US Payment Service. The activation fee is $9.95 and is charged once per card validity period. For high-risk countries, the charge is $24.95. Below are the countries Payoneer deems high-risk:

Albania
Angola
Belarus
Bosnia Herzegovina
CôteD’Ivoire
Congo
Ecuador
Ethiopia
Iraq
Kosovo
Lebanon
Liberia
Macedonia
Montenegro
Pakistan
São Tomé & Príncipe
Serbia
Somalia
Turkmenistan
Zimbabwe

2. Card Maintenance Fee

The card maintenance fee is a monthly charge deducted from your account. The instructions given in the “Payoneer Fees” page says that the monthly card fee depends on the number of transaction in the previous month. However, in reality, the number of debits/expenses is regarded as the number of transactions – and not just any transaction. So, the fee is $1.00 per month if you have up to 5 debits, and $3 if you have less than 5 debits or expenses.

Payoneer also has a different maintenance fee for cardholders. For users who signed up through Payoneer’s homepage and/or directly without a partner, the charge is a flat $29.95 per year.

3. ATM Withdrawal Fee

Similar to the card maintenance fee, the ATM withdrawal fee varies depending on the card. It can be anywhere from $2.15 to $3.15 based on the partner you signed up with. This charge can be low if a partner subsidizes the withdrawal fee, leaving you with reduced charges. The fee is €3.15 for a EUR card.

4. Payment Load Fee

The payment load fee can be grouped in the following three categories:

Payment from a Payoneer partner

This fee varies greatly from partner to partner. Some Payoneer partners provide payments for free while some charge $5. When the payment is sent to your Payoneer account, it can be loaded in 2 business days or instantly. Instant loading incurs you a further $5 while the wait is worthwhile at $0.

US/EUR Payment Service

Payments received from US or European Companies incur a flat 1% charge. No extra fees are deducted. These are the payments you receive from affiliate programs like Amazon and Commission Junction.

Local Bank Transfer Service

Payoneer charges a flat $5.95 or $9.95 depending on your location for sending payments via the LBT service.

5. ATM Decline Fee

The ATM decline fee is charged if the amount you try to withdraw exceeds the account balance. It is a flat $0.90 fee. For a EUR card, the fee is EUR 1.

6. Balance Inquiry Fee

Regardless or the country, the balance inquiry fee for the ATM is $0.90. Both ATM decline and balance inquiry fees can be avoided if you check your balance via the Payoneer mobile app.

Payoneer Fees Calculator

It is easy to calculate fees to an approximate position now with the help of the Payoneer mobile app. The latest June 2015 version of the app shows your balance in your local currency including cross-currency fees, so it is easy to know how much you are spending in fees.

Why has my Payoneer Account not been approved yet?

Please check to see if you have received any e-mails from our Account Approval Department requesting any further information. If not, please wait a few business days for the account to be reviewed.

If you do not receive any e-mail from us within 7 business days from the day you have applied, please Contact them for further assistance.