Payoneer Fees Overview

Unraveling the Fine Print: Overview of All Payoneer Fees

Payoneer is a reputable financial service provider that enables individuals and businesses to send and receive funds globally in multiple currencies. It offers convenient payment solutions, including international bank transfers, prepaid Mastercard debit cards, and an online payment platform. Whether you're a freelancer, e-commerce seller, or a business dealing with clients worldwide, Payoneer can simplify your cross-border financial operations. However, it's crucial to understand the associated fees to manage your finances effectively.

Account Opening and Maintenance

Account Creation: Creating a Payoneer account is typically free of charge. However, there might be promotional offers or referral programs that provide additional benefits during sign-up.
Account Maintenance: Payoneer generally does not charge fees for maintaining your account. However, inactivity fees might apply if your account remains dormant for an extended period.

Receiving Payments

Fees for Receiving Payments: When you receive payments from clients, marketplaces, or businesses, Payoneer may charge a percentage-based or fixed fee on the incoming funds. The fees can vary depending on factors such as the source of payment, the payment method used, and the currency received.

Currency Conversion

Foreign Exchange Fees: Payoneer applies foreign exchange fees when converting funds from one currency to another. These fees often include a small margin on top of the mid-market exchange rate.

Withdrawals

Local Bank Withdrawals: Withdrawing funds from your Payoneer account to your local bank account may incur a fee. The fee depends on the country and currency involved.
ATM Withdrawals: Using the Payoneer prepaid Mastercard to withdraw cash from ATMs might involve additional charges, which can vary depending on the ATM location and currency.

Card Usage

Card Activation and Annual Fees: If you opt for the Payoneer prepaid Mastercard, there might be an activation fee for obtaining the card. Additionally, some accounts may have annual card maintenance fees.
POS Transactions: Payoneer may charge fees for using the prepaid Mastercard for point-of-sale (POS) transactions. These fees may vary based on the transaction amount and currency.

Escrow Payments

Escrow Services Fees: Payoneer provides escrow services for secure transactions between parties. Using this service might involve certain fees, which are typically a percentage of the transaction amount.

Mass Payouts

Fees for Mass Payouts: Businesses that use Payoneer's mass payout services to send funds to multiple recipients might incur fees based on the total payout amount.

Customer Support

Free Inquiries: Payoneer generally offers free customer support for account-related inquiries. However, for certain issues or services, there might be premium customer support options available, which could incur charges.

Payoneer is undoubtedly a valuable platform for streamlining cross-border payments, facilitating international business, and receiving funds from global clients and marketplaces. While its services provide convenience and efficiency, it's essential to be aware of the associated fees to manage your finances effectively and avoid unexpected costs. Always review Payoneer's official fee schedule and terms before using their services to ensure a clear understanding of the charges that may apply to your specific transactions. By doing so, you can leverage Payoneer's capabilities while keeping your financial operations transparent and cost-effective.

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Account Opening and Maintenance

Account Creation: Creating a Payoneer account is typically free of charge. However, there might be promotional offers or referral programs that provide additional benefits during sign-up.

Account Maintenance: Payoneer generally does not charge fees for maintaining your account. However, inactivity fees might apply if your account remains dormant for an extended period.

Withdrawals

Local Bank Withdrawals: Withdrawing funds from your Payoneer account to your local bank account may incur a fee. The fee depends on the country and currency involved.

ATM Withdrawals: Using the Payoneer prepaid Mastercard to withdraw cash from ATMs might involve additional charges, which can vary depending on the ATM location and currency.

Card Usage

Card Activation and Annual Fees: If you opt for the Payoneer prepaid Mastercard, there might be an activation fee for obtaining the card. Additionally, some accounts may have annual card maintenance fees.

POS Transactions: Payoneer may charge fees for using the prepaid Mastercard for point-of-sale (POS) transactions. These fees may vary based on the transaction amount and currency.

Customer Support

Free Inquiries: Payoneer generally offers free customer support for account-related inquiries. However, for certain issues or services, there might be premium customer support options available, which could incur charges.

Payoneer is undoubtedly a valuable platform for streamlining cross-border payments, facilitating international business, and receiving funds from global clients and marketplaces. While its services provide convenience and efficiency, it's essential to be aware of the associated fees to manage your finances effectively and avoid unexpected costs. Always review Payoneer's official fee schedule and terms before using their services to ensure a clear understanding of the charges that may apply to your specific transactions. By doing so, you can leverage Payoneer's capabilities while keeping your financial operations transparent and cost-effective.