Is Payoneer Legit? (All You Need to Know)

With businesses all over the world growing in their online presence and functionality, there are many online payment services available to the general public. 

One such service is called Payoneer, and it allows small business owners and freelancers to send and receive payments and convert currency. But is this company legit and safe to use? This article will tell you all you need to know. 

Is Payoneer Legit?

Payoneer is an official and strictly regulated online payment service that implements many different forms of safety protocol. It is a legit company and can be used as a tool in your business or freelance work. Payoneer has a user base that spans many countries and is a good option if you want to send and receive international business payments. 

It can be difficult to find straightforward answers on the web about Payoneer and how it works, so keep reading for some helpful explanations!

Can I Trust Payoneer?

You can feel confident trusting Payoneer to keep your information safe and protect you from fraud or theft. Payoneer uses strong encryption, firewalls, and virus detection systems to protect your data and information. 

Also, your password is encrypted and, therefore, inaccessible to anyone inside the Payoneer company. 

Payoneer is compliant with PCI to protect your credit card information. It is also compliant with anti-money laundering regulations and offers fraud detection to all customers. 

Is Payoneer Good for Personal Use?

Payoneer is a service meant for merchants and businesses to transfer and convert money. You can also use Payoneer to pay for goods and services from many online businesses. 

Payoneer is not designed for personal use or peer-to-peer payments. Money services that specialize in personal payments include Venmo and Cash App. 

The intended use of Payoneer includes local and international business transactions, receipts, and currency conversion, and most users are freelancers, business owners, and product/service marketplaces. 

Does Payoneer Require a Bank Account?

Although linking your bank account is a popular way of withdrawing and depositing funds from Payoneer, it is not strictly required. It is possible to create a Payoneer account without linking your bank account

However, in order to do this, you will need to apply for a Payoneer card account and link the account to a company that facilitates Payoneer as a payment option, such as Fiverr. 

With Fiverr, you can create a prepaid withdrawal card and link it to your Payoneer account. You won’t need any bank credentials, only a Fiverr account, and a passport or ID. 

Can I Delete My Payoneer Account?

Can I Delete My Payoneer Account?

Yes, you can close your Payoneer account in the event that you don’t want to use it anymore. To do this, you will first need to go to Payoneer online and sign in. 

Then, you can click the “Help” tab on the right of your screen. Scroll down and select “Support Center – Home”. Next, click “My Payoneer Account.” Then, in the left panel, click “Close/Reopen Account”.

Under this tab, select “I wish to close my account.” This will take you to a page of warnings to review before you close your account. Then, you can click the “Contact Us” button to continue the process. 

You will need to fill out a contact form with the reason why you wish to close your account. Once you send this in, Payoneer will review your request and close your account. The customer service team may reach out to speak to you. 

Why Do I Need to Provide My ID to Payoneer?

Since Payoneer is a regulated online service that handles payments from all over the world between many users, it implements identity verification using documentation that you may be asked to provide. 

Giving Payoneer your ID to verify your identity and other important information allows the service to keep your transactions safe and secure. 

Why Is My Money Pending On Payoneer?

When you send or receive a payment through Payoneer, the company’s team reviews it before it is sent to your account or into another user’s account. Sometimes, this process takes a while, even several days. 

If your payment is pending for a long time, you should receive an email from Payoneer explaining the issue. You may be asked to provide additional documentation so that they can complete the review process. 

Payoneer reviews transactions in order to verify the source of the payment, maintain security and comply with the terms and conditions of the various institutions that the company works with. 

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


Payoneer is a legit payment processing company that is used by many all over the world. It is commonly used as a tool for freelancers and small business owners, but is not designed for personal use. 

The company has many features and regulations in place to make sure payments are safe, and to protect your data. You may be asked to provide documentation for identity verification or transaction reviews. 

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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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