Payoneer Virtual US Bank Account

Payoneer is a US fintech that provides payment solutions to businesses and individuals worldwide. Its virtual bank accounts allow individuals and businesses to accept payments from customers around the world in over 150 currencies. Payoneer also allows businesses to send payments to their employees, contractors, and vendors in over 100 countries. Additionally, Payoneer offers a prepaid Mastercard that can be used to withdraw funds from ATMs and make purchases online.

How Payoneer Works

Payoneer offers two types of accounts: Personal and Business. The main difference between the two accounts is that the Payoneer Personal Account is designed for individuals who want to receive payments for freelance work or other personal projects, while the Payoneer Business Account is designed for businesses that want to send or receive payments from clients and vendors worldwise.

Payoneer’s account offers local account details in USD, GBP, EUR, JPY, CAD and AUD. You can use these local receiving accounts just like your local bank account. International clients and businesses can pay you via SEPA (EUR), ACH (USD), BACS or FPS (GBP), Zengin (JPY), BECS (AUD), and EFT (CAD). You can also receive US dollars in a separate bank account through SWIFT Payments.

You can download Payoneer mobile app from App Store or Google Play and start managing your business finances from the palm of your hands. The Payoneer app allows you to request, make payments and withdraw funds to your local bank account. It also helps you get notifications on important updates, helping you stay on top of your finances in real-time.

You can do the following with a Payoneer account:

• Receive payments in major currencies such as USD, EUR, GBP, CAD, etc., for online freelance work from platforms like Upwork, Fiverr, Freelancer, PeoplePerHour, and Crossover, directly to your local bank account.
• If you sell products or services on a global marketplace, such as Amazon or eBay, you can use Payoneer to receive payments from customers in different countries.
• Transfer money from your Payoneer account to your local bank account or mobile money account, such as Payoneer to Mpesa in local currency.
• Manage currencies and convert money from one currency to another.
• Make purchases online and in-stores using Payoneer virtual and physical Mastercard.
• Pay VAT in the EU and UK using a Payoneer business account without any fees.
• Pay contractors and remote employees.

How to Open Payoneer Account

To open a Payoneer account, visit their website, choose the account type (individual or business), enter your information, upload ID and proof of address, and submit the application. You must be at least 18 years old and have a bank account in a supported country. Once approved, you can start receiving payments.

Documents needed to open a Payoneer account include a government-issued ID, proof of address, a bank verification document, and a photo of yourself with the date. For Payoneer business accounts, the required documents include a company verification document (e.g., Certificate of Registration, Certificate of Incorporation, Tax document, IRS document with EIN, Business license, and Proof of company activity), proof of the company’s address, and an authorized representative letter.

Go to Payoneer website

Payoneer Features

• Payoneer personal account: A personal account is a good option for freelancers and independent contractors who want to receive payments from clients all over the world. With a personal account, you can receive payments in over 150 countries and 100 currencies. You can also withdraw your funds to your local bank account or use your Payoneer virtual card to make purchases online or in stores.
• Payoneer business account: A business account is a good option for businesses that want to receive payments in major currencies from clients all over the world, including global ecommerce platforms like Amazon. You can also pay contractors, suppliers, vendors and services providers of your business via a Payoneer business account.
• Payoneer virtual card: It’s a Payoneer prepaid card that you can use to make online or in-store purchases. With a virtual card, you can protect your personal credit card information, and you can also get better exchange rates when you make international purchases.
• Payoneer API (Mass Payout API and Open APIs): Payoneer offers a variety of APIs that you can use to integrate Payoneer with your website or online store. This can help you to automate your payments and make it easier for your clients to pay you.
• Payoneer Capital Advance: Payoneer offers a capital advance program that offers a working capital without credit check for ecommerce sellers on Amazon.com, Amazon.co.uk, and Walmart. The capital is repaid through your future Payoneer payments.

Payoneer Personal Account vs Business Account

How to Transfer Money from Payoneer to Your Local Bank Account

You will need to add your bank details to your Payoneer account so that you can withdraw money to your local bank. Follow these simple steps.

• Log in to your Payoneer account
• Locate the Withdraw Menu and select the option To Bank Account
• Click Add New
• Confirm your security details
• Add the details of your bank account. You will then receive a notification email when the bank details you provided have been approved.
• Select the amount and the currency in which you wish to withdraw the money. Then click send. You will receive a confirmation email on the transfer.

Payoneer Fees

Payoneer fees for business accounts are transaction-based fees and have volume-based discounts. The following are common Payoneer fees for personal accounts:

How Safe is Payoneer?

Payoneer is a safe and legit regulated payment processor licensed in multiple jurisdictions, ensuring the safety of your funds and data. It is regulated in the United States, Europe, Hong Kong, Japan, India, and Australia. In addition to these jurisdictions, Payoneer also operates in a number of other countries where it is not regulated or licensed. However, Payoneer still adheres to the same high standards of security and compliance in these countries.

Payoneer is PCI DSS Level 1 compliant (the highest level of protection for card holders) and uses two-factor authentication, SSL encryption, and fraud protection to safeguard your funds and data.

Payoneer Customer service

You can contact Payoneer through live chat, phone call, or email. You need to be logged in to your account to reach Payoneer customer service. Payoneer says it may takes 3 business days to resolve issues.

Payoneer Supported Countries

Payoneer is available in over 150 countries around the world, including US, UK, Canada, Japan, Italy, Germany, South Korea, Singapore, India, Indonesia, Mexico, South Africa, Nigeria, Kenya, Ghana, and Zambia. Here’s the full list of countries where Payoneer is available.

Payoneer Alternatives

You can consider the following electronic money institutions as an alternative to Payoneer.

• Skrill
• Stripe
• Wise

Payoneer: A Global Payment Solution for Freelancers and Business

Payoneer is a good choice for freelancers, independent contractors, and businesses that want to get paid online. It offers a variety of features and benefits, such as the ability to receive payments in over 200 countries and 100 currencies, including USD, EUR, GBP, CAD, AUD, and JPY. You can also withdraw your funds to your local bank account or use your Payoneer virtual card to make purchases online or in stores. Payoneer also offers a variety of features for ecommerce businesses, such as mass payouts and recurring payments.

However, it is important to note that there are some fees associated with using Payoneer, so you should compare the fees to Payoneer alternatives before you decide to sign up.

Go to Payoneer website