Payoneer Review 2020: Pros & Cons of Using Payoneer

Payoneer Review 2020: Pros & Cons of Using Payoneer 1

Payoneer is an incredibly popular international money transfer platform that enables you to accept payments from foreign clients, get payments from freelance marketplaces, affiliate networks, ad networks, and so on.

Ease of Use

Extremely easy to use.

Money Transfers

Secure and fast money transfers.


Good support but some delays.


Not so low but reasonable.

The Good

  • Easy to use.
  • Global payment services.
  • Supported by popular companies.
  • Direct bank withdrawal.
  • International Prepaid Card.

The Bad

  • Hefty card renewal fee.
  • Not 24/7 customer support.

If you are not sure whether Payoneer is the right payment platform for you or not, you have come to the right place. In today’s post, I will discuss everything you need to know about Payoneer. After reading this in-depth Payoneer review, you will know how to get started with Payoneer, how to receive and withdraw money, what charges you have to pay, and so on.

Let’s get started with a brief introduction to Payoneer.

What is Payoneer?

Payoneer Review 2020: Pros & Cons of Using Payoneer 2

Payoneer is one of the leading payment processing companies that allows you to receive money from 200+ countries. It is considered as one of the best PayPal alternatives. The company started its operation in 2005. Throughout its journey, Payoneer went across the globe with 12 offices worldwide. As a result of its rapid growth, it is included in the list of top 100 financial companies in the world.

Payoneer offers Prepaid card to its customers. You can use this card to withdraw money, make payment, book hotels, purchase things online from anywhere in the world.

Now that you know what Payoneer is, let’s find out how to get started with this money transfer system.

Getting Started With Payoneer

It is very simple to create an account with Payoneer. You can create a new account by clicking here. If you follow this link and sign up, you will get $50 bonus once your $1000 on your account.

Payoneer Review 2020: Pros & Cons of Using Payoneer 3

Once you have signed up, you can apply for the prepaid card. If everything is okay, your request will be approved, and the card will be shipped to your mailing address. After receiving the card, you need to activate it. The card will come with step-by-step instructions about the simple activation process.

At this moment, these cards are valid for three years. Payoneer will remind you three months before the expiry date. You will receive the new card without any extra charge.

Most people use Payoneer to collect payments from various sources. Therefore, it makes sense to discuss that feature next.

Receiving Payments

There are several ways to receive payments in your Payoneer account. Let’s check out the available options one by one.

  • Global PAYMENT

Mass payout is a unique feature of Payoneer. This feature makes it a lot easier to get payment from thousands of integrated companies including the leading freelance marketplaces, e-commerce sites, and stock photography sites. Currently supported companies include Amazon affiliate, Upwork, Fiverr, CJ Affiliate, ClickBank, Rakuten, Teespring, Airbnb, Getty Images, 99designs, Envato, PeoplePerHour, and lots of other renowned brands.

Withdrawing Money

Payoneer offers a number of ways to withdraw money from your account. Now that you know the options for receiving payments, let’s check out the available withdrawal options.

  • local bank withdrawal
  • payoneer mastercard
If you want total freedom in withdrawing money from your Payoneer account, the prepaid MasterCard will be the best choice for you. You can use this card to withdraw money in more than 150 currencies in 200+ countries. You can withdraw the money as soon as within two hours of receiving the payment.

Making Payments

There are several ways to pay with Payoneer. Here are some of the ways that you can use to make payments.

  • making a payment
  • global bank transfer
  • prepaid mastercard
You can use this method to pay to other Payoneer account holders. Making this payment is free of charge and it’s fast. You can make payments to more than 200 countries. 

Payoneer Fees

Since Payoneer is providing financial services, they apply some charges. However, creating the account is free. And if you sign up by using an affiliate link, you will get a bonus too.

Payoneer Review 2020: Pros & Cons of Using Payoneer 4

Let’s get started with the fees of receiving payments. Receiving a payment from another Payoneer customer is free. When using local bank accounts in USD, you have to pay a 1% fee. Using other local bank accounts don’t involve any charges.

If you are getting paid through a credit card, there is a 3% fee. And when receiving money from various freelance marketplaces, ad networks, or other sources, the rate depends according to the source.

Next, let’s find out what are the fees for withdrawal. When you are withdrawing the money to your bank account in local currency, the fee will be up to 2%. And if you are withdrawing the money in USD, EUR, or GBP, the fee will be a flat 1.50 for all of these currencies.

There are some other fees related to the Payoneer Card. First of all, ATM withdrawals will cost you $3.15 per transaction. There are $1 fees in case of ATM decline, or ATM balance inquiry. The annual charge is $29.95, and you can get a replacement card for $12.95.

Payoneer Mobile Apps

Payoneer has dedicated apps for both Android and iOS. The mobile apps allow you to track the payment history of your account. You can check out the current account balance in 20+ currencies.

As the apps support more than 19 languages, it is possible to track your account in your local language.

Customer Support

There are several ways to get customer support from Payoneer. First of all, you will find several video tutorials that provide answers to some of the most common questions.

The dedicated support center includes written answers to all the common questions. You can explore the different categories or search for a specific topic. There is a dedicated forum too.

If you can’t find your answer on any of those sources, you have several other options – send them a message, start a live chat, or make a phone call. The live chat is not available in 24/7.

Pros & Cons

Now that you know what features and services Payoneer offers, it’s time to check out the pros and cons of the payment processing service.


    • Simple sign up process.
    • Local bank accounts in different currencies.
    • Get paid from most freelance marketplaces, affiliate networks, advertisers, and e-commerce sites.
    • Direct withdrawal in your bank account.
    • The Payoneer Card works anywhere in the world.


  • Hefty renewal fee for the card.
  • Live chat and phone support not available 24/7.

Final Words

As you have seen from the discussion above, Payoneer makes it very easy to accept payment from your clients and various companies. The simple withdrawal options and the prepaid card are other reasons behind the immense popularity of this global money transfer company.

So, what do you think about Payoneer? Does it offer the money transfer option you are looking for? Let me know in the comments below.


22 responses to “Payoneer Review 2020: Pros & Cons of Using Payoneer”

  1. Jean Avatar

    Thieves and no support from Payoneer
    Stay away

  2. Boris Avatar

    Worst experience with payment portal.
    Registration and first payment passed right away. Second payment still waiting verification (14 days), every time on phone seems to be different issue and reason why they are holding my funds. Got 2 different reference numbers for same issue which is prolonging cancellation or passing payment. Last info is if they cancel (we will see how long it will take) there will be additional 7-10 days until they return money.
    Are they holding onto customers money to improve their cash flow, is company going to bankrupt?

  3. Vlad Avatar

    If I receive money in US rollars and on ATM in Europe I raise the money in Euros, what charges will I have? Should I open US dollars account or Eur account to pay the least possible fee to them? Also, if I do not receive money every month, do they charge me something, for example for 6 months without receivement of money? I know I have too pay 30 dollars or so per year but would like to know is there any hiden charges. Also, when I can expect to receive the card? Thanks in advance.

  4. Cheryl Wright Avatar
    Cheryl Wright

    What’s a good service if customer service is poor? Apparently, even with “good service” there will be internal system failures and paying customers need their concerns addressed. So no it doesn’t sound like “good service” because good service includes customer service.

  5. Jay Avatar

    Horrible unreliable service – yes you can receive payments from clients directly and via global payments service, but only if their payments department does not decide they can’t approve your client’s company and won’t cancel their payment – and they seem to do that completely on a whim and there’s even no guarantee a company you have received payments from earlier will not get banned all of a sudden at random.

  6. NADA ZUPANC Avatar

    However by opening of Payoneer account it would like to come and discontinue this contract. How do I do it ‘Statusat the account is 0 and also cards I do not order. Help me.

    1. Istiak Rayhan Avatar
      Istiak Rayhan

      I haven’t understood what are you talking about. Can you please make it more clear to me?

      1. NADA ZUPANC Avatar

        Please I would like close to the Payoneer account.

  7. Lewy Avatar

    Just hope you never have to deal with customer support. My money is currently locked away behind a blocked account since I forgot the answer to a security question. I have no way of contacting them without logging in, which I can’t do because my account is locked…

    It’s been a couple of days since I can access my money now, this is completely unacceptable for a financial service

    1. Istiak Rayhan Avatar
      Istiak Rayhan

      Sorry to hear that. You can still contact with Payoneer from here:

      1. Lewy Avatar

        Thanks for the link – I raised an issue there 10 minutes after my account was blocked. About a day later they responded, asking for: my DOB, my passport number, a photo of my passport and a photo of me holding my passport and another piece of paper with today’s date.

        Of course, I sent this info within an hour or receiving the message. And now it’s a couple of days later and I’ve had no response, and my account is still blocked.

        1. Istiak Rayhan Avatar
          Istiak Rayhan

          Hope they will solve the issue soon.

  8. Sam Avatar

    Congratulation! We (Istiak and me) both have received 50 dollars. I got mine last night. Fyi, it’s no longer 100, now one has to receive 1000 to get the bonus. Still, it’s a pleasure.

    1. Istiak Rayhan Avatar
      Istiak Rayhan

      Glad to know that :). And thanks for the information. I’ll update it.

      1. Sam Avatar

        People who signed up before payoneer make it 1000, will receive the bonus after receiving 100.Thanks.

  9. Al-min Avatar

    Istiak, thanks for the review

    One problem i do find with payoneer is the fact that it’s the customer care service is unreliable. The other day, i asked them the reason i couldn’t login my account even after typing in the right login details. But i didn’t get a response.

    It was only when i called them that i was able to resolve the issue. This process took me 2 months.

    What do you have to say about that.

    1. Istiak Rayhan Avatar
      Istiak Rayhan

      I’ve never faced any issue with customer care service.Maybe, they give preference to the users with high transactions.


    Dear Sir I am trader of Pakistan. I have worked with UK and USA traders. I am trying to get prepaid

    Master Card since 15 May 2015 and busy in log and sign up. Payoneer has not issued me prepaids card.

    I have two accounts and You are requested to help me

    if you say Payoneer is a good organization.

    1. Istiak Rayhan Avatar
      Istiak Rayhan

      Please contact with Payoneer support.

  11. Abdulrazaq Olatunji Avatar

    Payoneer is truly one of the best online payment service to stick with, but their customer support is very urgly, indeed urgly. I actually want to have a chat with them about the activation process but they put me on queue for many hours until i got a flat battery. I have to put them aside for now and I have stick with my Paypal.

    1. Istiak Rayhan Avatar
      Istiak Rayhan

      Yes, customer service is not that good. But they offer a good service.

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