How Does Payoneer Work? (All You Need to Know)

As a popular payment app that is used in many countries to help business owners streamline their payment process, it is no wonder that many potential customers have some questions about how it works.

If you are wondering about Payoneer and what’s involved in opening an account and using its various services, you’ve come to the right place! This article will give you some helpful facts. 

How Does Payoneer Work?

Payoneer is a money transfer service, online payment portal, and currency conversion tool that allows business owners and freelancers to send and receive payments from all over the world. When you create an account, you link a bank account that will allow you to send money to others and withdraw money from Payoneer. 

Payoneer is a useful app and service that can make your business transactions easier, but it’s important to know how to use it, so keep reading for more information!

How Can I Earn Money From Payoneer?

Aside from making Payoneer an option for your customers and clients from all over the world to pay you, you can also earn money directly from Payoneer by becoming an affiliate. 

Affiliates at Payoneer spread the word about the company by sharing an affiliate like with your contacts, visitors, and customers. You will receive money for every customer that signs up for Payoneer through your link. 

Can I Transfer Money From Payoneer to My Bank?

Transferring money from your account balance to your bank account is one of the main services offered by Payoneer. 

To move funds into your bank account, first sign in to your Payoneer account. Then, in the app or online, select which registered bank account you would like to transfer the funds into. 

Then you can tap or click “Withdraw” and follow the on-screen instructions to complete the process. You will be charged a withdrawal fee based on the type(s) of currency you are using. 

In Which Countries Is Payoneer Available?

Payoneer is available to use in Australia, Canada, China, Japan, Mexico, Singapore, United Kingdom, and the United States. 

How Do I Link Payoneer To My Bank Account?

How Do I Link Payoneer To My Bank Account?

To link a bank account to Payoneer, first, you’ll need to sign into your account. Then, you can select Banks & cards from the main menu. 

Next, select “Bank accounts for withdrawal”. Then you’ll need to choose the type of bank account you want to link. 

This will be either a bank account for withdrawing funds out of your Payoneer account and transferring them into the bank or an account for paying people who don’t have a Payoneer account. 

In other words, choose either the “Your accounts” tab or the “Recipient Accounts” tab. Then, select “Add bank account” and follow the instructions listed. 

What Happens If I Don’t Use My Payoneer Account?

If your Payoneer account goes unused or inactive for 12 months, you will be charged an inactivity fee of 25.95 USD. 

Otherwise, if you make transactions with your account within 12 months, you won’t pay this fee. 

What Do I Need to Open a Payoneer Account?

Before you can open a Payoneer account, there are several items and pieces of information you will need. 

The requirements are your full name, your ID card, an email address, your date of birth, a phone number, and your bank account details. Your bank account name will need to match the name on your ID. 

When you have all of these, you can start the process of opening a Payoneer account. 

How Much Money Can I Have In Payoneer?

There is no limit to how much money you can store in your Payoneer account at a given time. However, if you have a Payoneer debit card, there is a limit of $10,000 for the amount you can have loaded on your card. 

If there are excess funds from your Payoneer card, they will be stored in your Payoneer account, but won’t be on your card. 

To know more, you can also read our posts on how to order a Payoneer card, whether Payoneer is a bank, and whether Payoneer is free. 


Payoneer allows you to store funds, send money from your account or your bank, receive payments from clients and customers, and convert money to different currencies. 

When you create an account, you can also apply for a Payoneer debit card that allows you to pay using your Payoneer balance, anywhere that accepts Mastercard. 

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Mackenzie Jerks

Mackenzie is a freelance writer and editor, published author, and music enthusiast who holds a Bachelor of Science in Business Administration. When she’s not writing, Mackenzie is either wrapped up in a book, discovering new music, or introducing herself to a new fitness regimen.

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