And after receiving the first payments, you can withdraw funds from your personal account to an account opened in any Russian bank. This is very convenient because it gives you the freedom to plan large purchases and manage significant amounts of cash. If a payment card is linked to the bank account, then the funds received become available immediately.
Whether your Payoneer account is in US Dollars, British Pounds, Euros, Japanese Yens or Yuan, you can withdraw funds to your local bank account. The payment will be converted into rubles at the average market rate at the time of withdrawal. In order to orientate, you can use the converter on XE.com.
The scheme is quite simple: you fill out an application in your personal account for withdrawal of funds, having previously entered and confirmed the details of the bank account. Usual terms of withdrawal: 2-3 working (banking) days.
Conditions for withdrawing to a bank account
Withdrawal is only possible to a bank account owned by the owner of the Payoneer account, sending to third parties is prohibited.
The commission fee is 2% of the amount translation.
Withdrawal currency - only Russian rubles.
Minimum amount to send 50 dollars, maximum 10 thousand dollars.
Transfer crediting term: up to 3 working days.
pros
You get cash practically without any restrictions, at a fixed commission of 2% of the amount. When withdrawing cash from a Payoneer card at ATMs and bank cash desks, there are always quite strict restrictions with a higher commission.
Payment card Payoneer MasterCard is not needed.
No additional or hidden fees, only a fixed 2% of the amount.
No problems with ATMs, which very often accompany the withdrawal of cash (lack of the required amount, exceeding the limits, paid viewing of the balance, payment for each operation, etc.).
When paying with a Payoneer card, the daily spend limit is capped at the equivalent of $ 2,500, withdrawals and you can plan and make larger purchases.
Minuses
Bank can inquire about the origin of incoming funds, especially if the amount is large, and the account is opened for an individual. Banks where the rules are particularly strict may require a copy of the agreement or other documents on the basis of which the funds are transferred. Therefore, if you plan to regularly withdraw significant amounts, then it is preferable to open a current account of an individual entrepreneur (individual entrepreneur).
Withdrawal is possible only in Russian rubles, the conversion rate is defined as "average market". However, it is usually a few percent lower than the commercial rate quoted by banks.
As soon as the funds reach the local bank account they are somehow come to the attention of the fiscal authorities... While the money is on the Payoneer balance and the card, information about them is not available.
Entering Russian bank account details into your Payoneer account
If you do not have a bank account at the moment, you will have to open it by visiting a bank branch with a passport and an individual tax number on hand. Select and arrange the proposed service or package. Do not rush with registration, if you have payment cards (salary, social, for payments), then bank accounts correspond to them and you should ask the bank's support service if it is possible to use them to receive funds from other sources. Most likely, the answer will be yes. Then it remains to obtain from the same service information about the account details and limits.
Having the requisites in hand, in your personal Payoneer account go to "Settings" - "bank accounts", which stores information about the bank account (maximum two), which is linked to your account.
If, when registering with Payoneer, you have already entered your account data (until 2017, this was not required), then you will see the entered data. If not, then click "Add a bank account".
Now, select your country where the actual bank account is opened. If it is open to an individual, then mark “personal”, if the owner is an individual entrepreneur or legal entity, mark “corporate”.
Following the prompts, carefully fill in the details. Please note that some fields are filled in Latin and others in Cyrillic. If any data is lacking, then you can easily find them on the net. In particular, the address and postal code of the bank branch (where you opened the account) or BIK.
Double-check all the numbers, especially the account number, remember that a mistake can lead to the fact that the funds will not be credited. Check "I confirm bank account details" and click "Next".
After this, you will receive a notification that the details are accepted for verification and consideration.
Verification takes several hours, once it is completed you will receive an email notification and you can immediately use your account to withdraw funds.
How to withdraw funds to an account in a Russian bank
Once the account is added and approved, it only takes a couple of minutes to apply for a withdrawal. It is enough to log in to your account and select "To a bank account" in the "Withdraw" tab.
Choose from which balance you want to withdraw funds - you can choose any, choose the desired bank account. At the stage of confirmation of the operation, you will be immediately informed about the exchange rate.
Put a tick “confirm” and press “withdrawal”. Usually, the funds are credited to the bank account the next day after the withdrawal request. Delays are rare.
Despite the fact that Payoneer declares the possibility of withdrawing funds to any local bank account, this is not entirely true. For example, it is currently possible to withdraw in hryvnia only by becoming a client of Privatbank. Currency, only US dollars can be sent to the account of any Ukrainian bank.
The scheme works very simply: you make a withdrawal in your personal Payoneer account. com and receive funds to an individual's account with Privatbank, which must first be opened. If a payment card is linked to the account (and this is a common practice), then the received money becomes available immediately.
- You can use your Payoneer account balance in any currency for withdrawal.
- A Privatbank account must be opened in the name of the owner of the Payoneer account.
- You can send an amount of at least 50 and no more than 10 thousand dollars.
- Enrollment takes 2-3 business (banking) days.
- Withdrawal is possible only in national currency - hryvnia and US dollars.
- The exact exchange rate is not reported, only information is provided that it is "average market", you can find it out only after the fact. It will roughly correspond to the exchange rate on XE.com on the day of the operation. The MasterCard rate is used only when withdrawing funds from ATMs.
- The transfer fee is 2% of the amount.
- Crediting to the account takes place without commission.
- For withdrawing funds from a card or account of Privatbank, a commission may also be charged, here it all depends on the type of card. For example, with "Universal" provides a commission of 1%, "For Payments" - no commission.
- Judging by the reviews, in fact, taking into account the commission and conversion, you will receive a rate that will differ approximately per hryvnia from the official rate of Privatbank. For example, with a rate of 26.90, count on 25.90 or so.
Why withdraw funds?
Everyone answers this question for himself. It all depends on your specific needs. Here are the main pros and cons.
Main pluses
Payoneer allows residents of Ukraine to register an account without issuing a Mastercard payment card... In this case $ 29.95 annual maintenance fee is not charged, and only standard tariffs are applied to the incoming amounts (1%). Payoneer card can be issued later if required. You can withdraw funds from your Payoneer account to a bank account.
Clear commission v 2% of the withdrawal amount is significantly lower than the standard Payoneer ATM withdrawal rate, namely $3.15 + 3.5% for conversion (this is the maximum, usually less). Most ATMs issue a maximum of 40 bills, i.e. withdrawing more than 20 thousand hryvnia in one operation will not work - and even then, if bills of 500 hryvnia are available. The subsequent transaction will also have to pay $ 3.15. Taking into account the “bill issue”, the procedure for withdrawing large amounts can turn into a lottery, since it is not known how many bills and of what denomination are loaded into the ATM. When withdrawing through an account in Privatbank, everything will be much easier, especially if you have a card that does not provide for a withdrawal commission - for example, "for payments" (although in this case the bank will remove an additional commission of 0.5% for crediting funds). Just send the required amount for conversion into hryvnia to an account with Privatbank - and have cash at hand, without unnecessary nerves and overpayments. Comfortable. By the way, the maximum amount that can be withdrawn from an ATM from a Payoneer card per day is limited to the equivalent of 2 thousand dollars. The maximum withdrawal amount is 10 thousand dollars per day.
Possibility to receive cash currency - dollars at the bank's cash desk... You make a withdrawal from the dollar account balance to your foreign currency account in Privatbank or any other bank. This is the only possible option to receive foreign currency, since its issuance in Ukraine through ATMs is prohibited, as well as at the cash desks of banks - it will not be possible to withdraw foreign currency directly from a Payoneer card.
The main disadvantage
Who, from which card, when and how much withdrawn from an ATM - this is is not fixed anywhere... A completely different matter is the payments received to your account in Privatbank. Here they are already may become the object of close scrutiny fiscal authorities. And given the recent nationalization of the bank, this issue has become even more urgent, since the data, as they say, do not have to go far. It is unlikely that questions will arise if amounts of 5-10 thousand hryvnia per month appear on the account balance. Although no one will give guarantees here either. After all, while the funds are on the Payoneer balance, the information is not available to the tax authorities, but as soon as they enter your local account, the recipient should think about it. All questions regarding the Payoneer service and taxation were discussed in detail in the corresponding article. In a nutshell, the question is: whether or not to declare what was received on an account in Privatbank is up to you. However, remember that the sender is Payoneer and the stories that this is "financial assistance from parents for treatment" will not work here. Waiting for an invitation to the tax office, each time sorting out the mailbox is not a pleasant occupation. If you do not have a main place of work, then it is quite possible to register the 3rd group of SPD FO and transfer some amounts to an account with Payoneer, which you can report to the tax office. True, in addition to the quarterly payment to the pension fund, you will have to pay 5% tax. As a plus, you get official employment and become a "white person", indicating these data in any visa application form or other document.
How to withdraw funds to an account in Privatbank
Obtaining a Privatbank card
If you do not have a Privatbank card, you will have to visit the branch with your passport and tax identification number in hand. At the bank, you need to choose the optimal tariff plan, open and receive a card. Do not forget that the received card must be activated: for this, it is enough to request the account balance at the ATM. The simplest option is the “Universal” card in hryvnia, which is issued immediately.
After the card is received, it makes sense to register with Privat24 and install the corresponding application on the smartphone.
Adding a bank account to your Payoneer account
Now we need to add information about the card, or rather the associated bank account in the Payoneer account. After logging into the site, click "Withdraw to bank account".
If you added bank account details during registration, they will be displayed here, if not, then adding a new one will not take much time. You can add a maximum of two bank accounts to an account. Click "Add New".
Confirm your intention to add a new bank account to your account again by clicking "Add new bank account".
Now decide whether "Personal" is an account or "Corporate", i.e. open to a legal entity. If you opened an account as a private entrepreneur, then also choose "Corporate".
Choose the country of the bank, in this case Ukraine. At Payoneer, you can withdraw funds to your own accounts opened around the world, so that the list of countries is not offered out of formality.
After selecting a country, you must select from the available currency in which the bank account is opened. This is important if you choose the wrong currency - you run the risk that the payment will be refunded.
We select the Ukrainian hryvnia "UAH" and click "Next".
Withdrawal of hryvnia is possible only to the Privatbank account, come up with an identifier for this account (we have Privat UAH) and in enter the sixteen digits from the front of the card as the account number.
Check the box "I confirm the bank account details above".
On the next page, you will be asked to go through security checks and enter your date of birth and your Payoneer password.
After that, you will receive a notification that the bank account has been added and the verification will take up to 3 days.
But in practice, everything goes much faster. You will immediately receive a notification about adding an invoice to your e-mail.
The account will indicate that the account is "pending" and it will not yet be possible to send funds to it.
However, in just a few hours, wait for a letter stating that the account is approved.
Sometimes, along with the letter of approval of the account, you may receive a letter stating that the added account is not in your name (although this is not the case) and additional verification is needed. If you did not receive this letter, skip this item.
Do not be alarmed, these are the whims of Payoneer, click the link in the letter and fill out the form. Enter your Payoneer account credentials. If the form is opened in English, then the filling language is also English.
Fill in the lower part of the form approximately as we have shown in the example. Just indicate that this is your bank account and click "Submit".
You will receive a notification that the application is being considered. But the withdrawal of funds is already available.
Withdraw funds
After the account is added to the account and approved, it will take just a minute to complete the withdrawal request.
In your personal account, select "Withdraw to bank account".
Select the balance from which you would like to withdraw. Do not forget that the minimum withdrawal amount is 50 USD / EUR.
Now select the account to which you would like to receive money, specify the payment ID, if desired, and then click "Check".
You will be immediately shown the exchange rate, which usually slightly differs from the bank rate for the worse. And if everything suits you, put the appropriate checkbox and click "Conclusion".
At this stage, the security system may again require you to verify your identity. This time, you will need to enter the answers to the security questions that you entered during registration.
After successfully passing the verification, you will receive a notification that the withdrawal was successful, and the funds will be credited to the account in three to five business days.
In practice, during the next working day, wait for a notification from Privatbank about the receipt of a money transfer.
In our previous articles, we told how, and also considered the instructions in detail. If for the residents of Russia everything is simple and clear, since PayPay has been allowed to officially withdraw money to bank accounts since September 2013, then in Ukraine the situation is not so rosy. All those who live in Ukraine, work in the segment of the English-speaking Internet, and regularly receive payments on PayPay have a hard time. Almost all methods of withdrawing money are associated with intermediation, in which a certain percentage is lost. Of course, when withdrawing money through Payoneer, you will also lose a certain amount for bank commissions and conversion, but this is much better than giving 20% to an intermediary, or 11% to exchange offices.
We want to say right away that Payoneer is only suitable for those who often and a lot of withdrawals via PayPal. In all other cases, if the amount is not large (up to $ 1000), and you withdraw every few months, then it is better to use other methods described in ours. Why is that? Read to the end and find out.
Payoneer and PayPay: detailed instructions for opening a virtual account
In the article on how to withdraw money from PayPay in Ukraine, we have already talked a little about Payoneer in order to familiarize the reader with this opportunity. But today I would like to talk in more detail about how to open a virtual account. We will consider the algorithm of actions, tell you how withdrawal through Payoneer is better than all other methods, and also briefly tell you what Payoneer is, and whether there are risks when working with this system.
What is Payoneer
Payoneer is a US based company that provides a virtual US bank account. In fact, you will not have a real account, you don’t sign any documents, you don’t give your originals and copies. You just need to register, order a card, and after a while receive it by mail. We will tell you more about the whole procedure below. But the question may arise, where will my money be kept if the account is virtual and not real? How does Payoneer ensure safety? What guarantees does it give? There are a lot of incomprehensible things here, and in order to find the answers, you need to read the official website of the company, specialized blogs, reviews of users of this system. We do not know all the intricacies of Payoneer, but we can say that with PayPal through their cards, you can easily withdraw money.
Payoneer assures that at any ATM that accepts MasterCard cards, you can withdraw your money without any restrictions.
You can find user reviews of the services of this company on the Habrahabr website, where Payoneer maintains an official blog, and at the time of this writing, there were 207 reviews and comments.
First of all, you need to register in the system. To do this, go to the official website of the company and press the "Register" button. It is noteworthy that the entire site has been translated into Russian, since Payoneer is focused on the Russian market and the market of the CIS countries.
There shouldn't be any problems with registration, because everything is intuitive. It is very important to indicate real data, and fill out everything very carefully. In confirmation of your registration, a letter will be sent to the email address, which will indicate all the data that you have sent to the system. To avoid critical errors during registration, we recommend using the Chrome and Mozilla browsers.
ID confirmation
In order to be able to use a virtual bank account, you need to verify your identity, passport details, and source of income. The confirmation system is a little strange, but what it is. To do this, the letter will contain two links, by clicking on which you will be taken to a page with polls.
On the first link, you need to give answers to questions regarding your work. From the drop-down menu, select the type of activity that most accurately characterizes what you do, and then describe (in Russian) what you do. Follow the prompts and do everything as instructed by the system.
By clicking on the second link, you will be taken to a page where you need to confirm your passport details and identity. Send a photocopy of your passport or driver's license. It is very important that the copy was in color, of high quality, the name, surname and date of birth are clearly visible on it.
Receiving a card by mail and activating it
When registering, you indicate your mailing address, to which your Payoneer bank card should come within 3 weeks. Also, along with the card there will be a letter in which the process of further card activation is described in detail.
The activation process is pretty straightforward. Payoneer offers two ways: to contact operators by phone, or to activate the card via the Internet. The second option is more suitable for us, because it is faster and much cheaper. Go to the Payoneer website, log in with your username and password, and click "Activate Card" (the yellow arrow in the screenshot indicates where this button is located). Next, enter the card number, and come up with a PIN code that will be needed when withdrawing money from an ATM.
More details about activation are described in this video.
ConnectionPayPal account to US bank account
We would like to warn you right away that you assume all the risks associated with linking a bank account in the United States to your account. And these risks are associated with the fact that the account can be blocked. Why? Yes, because PayPal's policy is based on the fact that residents of a particular country must link the accounts of banks operating in the territory of their state. Therefore, if you are not a US citizen, and do not have a residence permit there, then you are violating PayPal rules. Of course, in 99% of cases it goes unnoticed, but 1% exists, and you should be aware of the risks.
If you don't have a PayPal account yet, we recommend reading our article "". Consider only the fact that you need to indicate your real name and surname, but you need to invent the address of residence. Take any US state, address, house, apartment. Just do not write the address of well-known companies or government agencies. Look where there are residential areas, and pick something at random.
Bank account confirmation
Having linked the account, you also need to confirm it. This is the standard PayPal procedure, in which 2 payments of a few cents will be sent to your account. After 2-3 days, check your Payoneer account, and as soon as you see a transfer transaction, go to your PayPal account and indicate the amount of transfers.
Once your bank account is verified, you can receive and send transfers using your Payoneer account. But the most important thing is that money can be withdrawn at any ATM, and at any time.
It is also worth noting that using the card will cost $ 30 per year. But there are also various fees for depositing and withdrawing money from the card, for transfers and other transactions. You can read more about this on the official Payoneer website.
And after finishing the article, we decided to read in more detail the reviews of those who have been using Payoneer for more than a month, or even a year. As it turned out, the system has many "pitfalls" and hidden payments that no one talks about openly. That is why we wrote at the beginning of the article that this card is suitable only for those who often and a lot withdraw from PayPal. The rest should look towards automatic exchange services, or look for intermediaries who will withdraw money and PayPal with a minimum commission.
Payoneer Service: User Review
We will not publish flattering reviews. And so it is clear that the system has a number of advantages and benefits. You should always read negative, but truthful comments from users who are trying not to denigrate the company, but to show its real face. And we found just a few such reviews on the forums.
Svfoster, Habrahabr website
Payoneer has incredible fees for ... everything. For each movement, for each sneeze, money will be withdrawn (percentage or a fixed rate). The absurdity even reaches the point that the percentage is charged for rejecting the transaction, or if you typed the wrong amount at the ATM and could not withdraw the money.
So, in order. Open cards - $ 20, crediting money - a commission of $ 2 (and wait 2-3 days!), For withdrawing money in dollars (PayPal) - a commission of ~ 3% and nowhere is there a word about it, but if you need to make a refund via PayPal, then withdrawn commission is not refundable. Refusal when withdrawing through an ATM - $ 1 for an incorrect request, withdrawing through an ATM or an operator at a bank - $ 2.15 per request. Card content $ 3 per month! In total, to transfer amounts of ~ $ 1000 per month, the commission will be (year) 20 + 2 * 12 + 2.15 * 12 + 3 * 12 ~ $ 106 in the first year of service + 3% for payment for purchases, which will be $ 360 per year! Do not forget that there will be a commission for withdrawing money, especially if it is in the currency of your country.
Nikolay, webmaster forum
If you use Payoneer, and you have a controversial question, or you want to contact support, then stock up on valerian and strong nerves. There is no support, he answers for a long time, does not say anything concrete, questions are not resolved. Okay, if only an isolated case, but this is always the case.
I used Payoneer for a while, endured their robbery, because there was no alternative, but there is a limit to everything. Refused to use a virtual account.
Whether to use Payoneer or not is up to you. We just provided detailed instructions on how to withdraw money from PayPal through Payoneer, and published reviews of those who already use their accounts and cards.
- Maximum account balance - 10 000$. All money in excess of this limit is on the virtual balance and, as necessary, is transferred to the card.
- Restriction on payments (cash withdrawal through ATM) - 2500USD per day - according to the official Payoneer forum. (In the section "terms and conditions" on the Payoneer off site - the amount is indicated in 5000USD).
- No more than 10 cash withdrawals from ATMs per day;
- Payment through POS terminals (for example, payment for purchases in a store or in an online store) - no more than 9 per day,
- The number of account top-ups per day is not more than 3 times.
Any transaction made on a non-business day will be deemed completed on the next business day.
Commissions for withdrawing cash from a Payoneer card at ATMs and operational cash desks of Russian banks. Where is it cheaper to withdraw money from a Payoneer card (calculation).
Information is constantly changing as banks change fees and withdrawal limits.
- Commission for withdrawing cash from an ATM (as well as when receiving cash at the bank's operating cash desk). This is a fixed amount, but its amount depends on the partner through which you connected. For example: 3.15 USD
- a fixed fee for withdrawing money (if you withdraw in local currency, for example, in rubles, the commission is up to 3.5%, if you withdraw in USD - 1.8%), (Information from the official Payoneer forum.)
- % of the bank's cash desk for the operation (for withdrawing money from a card of another bank).
As a rule, the larger the amount you cash out in one operation, the cheaper it is.
Restrictions on withdrawing money from ATMs (in USD), information is subject to change.
Unicredit, Citibank - 400 USD
- Rosbank, Raiffeisen Bank, CreditEurope, Russian Standard Bank - 300 USD
- Alfa Bank - 200 USD
If the ATM offers to select the type of bank account, the "Current" or "Checking" account is suitable.
Operating cash desks various banks set an additional percentage for cash withdrawals from a third-party bank card:
Avangard, Mosoblbank, Rosselkhozbank - 2%;
Rosbank, Raiffeisen - 3%
Bank of Moscow - 5% (up to 60,000), 2% (over 60,000)
We will calculate where it is more profitable to withdraw money in dollars at an ATM or cash register.
Let's take into account Payoneer's withdrawal limit in 2500 USD per day.
Let's calculate using the example of the cash desk of the Avangard bank (2% commission) and the Rosbank ATM (the limit for the operation is 300 USD).
Operating cash desk with 2% commission
Amount to be withdrawn 2500 USD + 2% (bank commission) + 3.15USD + 1.8% = 2500USD + 50 USD + 3.15 USD + 45USD = 2593.15
Those. on withdrawing money through the bank's cash desk with a commission of 2% we will lose USD 93.15
ATM
Because limitation of 300USD per operation, we will withdraw 8 times for 300USD and 1 time for 100USD:
8 times 300:
8*(300+3,15+1,8%) = 8*(300+3,15+5,4) = 8*308,55= 2468,4
1 x 100:
100+3,15+1,8%=100+3,15+1,8=104,95
Total: 2573.35.
Those. for withdrawing money through an ATM, with a limit of 300USD(even taking into account such an irrational operation as withdrawing $ 100), we will lose USD 73.35, which is almost 20USD less than at the cash desk of the bank with an interest rate of 2%.
Even if you shoot at an ATM with a limit of $ 200(12 times for 200USD and once for 100USD) - the amount of commissions will be released USD 85.95(which is still cheaper than withdrawing through a bank teller, with a commission of 2%).
How to start using Payoneer - register an account:
- It is necessary to register on the Pioneer website (for example, by the invitation link from $ 25 to your account as a gift), about the registration process.
- After that, you can immediately start receiving payments from foreign companies and withdraw money to your bank account.
- If you need a Payoneer card, it can be ordered in your account and will be sent by mail free of charge. When registering through an invitation link, card activation is free. When ordering through partners, card activation may be paid (for example, if the card is ordered through iStock or Dreamstime - $ 10, through DepositPhotos, Lori, 123RF - $ 12.95).
- The card has no other activations and verifications. But there is an annual usage fee
Many microstocks and photobanks (including Shutterstock) allow you to withdraw funds to your Pioneer payment system account
Detailed instructions on how to order a Pioneer card and get a bonus -
Alexey Naumov
Updated: 2019.08.16
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Payoneer is a payment service that is one of the recognized leaders in the field of electronic transactions and a pioneer that opened the possibility for users to directly withdraw funds to their own debit Mastercard. Although the company is registered in the United States, its services are used by residents of more than 200 countries around the world. Russia and neighboring countries are no exception.
The Payoneer payment system has a number of undeniable advantages over similar projects. Economical tariffs, ample opportunities in terms of payment for goods, payment security, etc. Let's take a closer look at all the advantages.
- Popularity. Having an account in this EPS opens the doors of any online store for you, be it Aliexpress, Ebay, Amazon. The system is used for deposit / withdrawal of funds by popular foreign freelance exchanges, large services, and dealing centers. There is a possibility of replenishing Skrill, PayPal, and other payment systems. And if you issue a plastic card, you can withdraw money at any ATM.
- Confidentiality. There will be no problems with the local tax authorities due to the use of this payment system. The funds credited to the Payoneer account are outside their jurisdiction, and the account holder himself is registered in the United States, so he is not obliged to provide anything to the tax authorities.
- Security. The service is equipped with the most modern security technologies, the confidentiality of customer data is guaranteed by an extremely transparent user agreement, which prohibits the transfer of customer personal information to third parties.
- Russian-speaking support service. This is exactly what many foreign payment systems lack so much. Consultants can be contacted in a variety of ways, including by phone call. There is also a feedback form with operators who call back to the number indicated by the client absolutely free of charge.
A fly in the ointment was the impossibility of making payments on some sites due to a mismatch in the billing address. For example, one of the American online stores will process the payment only if the billing address is also from the USA. But such cases are rare, so there is no need to worry about it.
Features of working with Payoneer
Below we will talk about the important points that every newcomer to the system should get an idea of if he wants to save his time, money and avoid various problems when working with the service.
Account registration and verification
The registration process for Payoneer.com is simple and intuitive. The user must enter personal and contact information in the provided fields, typing them in Latin characters. The first screen requires you to enter your first and last name, a valid email address and date of birth. On the second - the address of residence and telephone number. The data must be absolutely reliable.
To start using all the services of the system fully, you will have to confirm your identity (verification) by sending a scanned copy of your passport or other document from the list on the website. The verification process by administrators may take several days, after which a letter will be sent to the specified postal address that a Payoneer Mastercard has been sent to you. Delivery usually takes about 2 weeks.
The card must be activated in the user profile by going to the “account settings” section. The user will need to retype the card number in a special field, as well as come up with a PIN code.
US Payment Service activation
The most important advantage of the Payoneer payment system is the ability to get an American bank account in the appendix to the card. Any payment transferred to Mastercard will be automatically displayed on the balance. This will significantly speed up the process of accepting / conducting payments, and will open up additional payment methods.
A letter will be sent to the e-mail address with information about your bank (in which the payment system account is served), the type of account and its number. It contains a link to a questionnaire that will allow you to verify the US Payment Service.
Among the requested data there is information about the sources of your income, website address, etc. The successful connection of the service will be reported in another letter.
System fees
At the first glance at Payoneer tariffs, only solid advantages are noticeable - the absence of penalties, commissions for payments between system participants, in stores and a number of other operations for which most payment systems charge interest. I am also pleased with the presence of a $ 25 bonus issued to everyone who replenishes an account with $ 100 or more. But the service still has commissions, and they are not small:
The tariffs indicate that using the Payoneer system to transfer to a card and cash out small payments of several tens of USD will be unprofitable. If you plan to make a one-time purchase in an overseas store, it also makes no sense - an annual commission will be withheld on the first replenishment.
Negative moments turn into advantages with an increase in the amount of money turnover. For freelancers and webmasters who use Payoneer to withdraw hundreds or even thousands of dollars a month, flat fees are much more beneficial than percentage fees.
Deposit and withdrawal of funds
Payoneer does not support traditional deposit methods, such as cash deposits or bank transfers. Funds can be received from service partners (Payoneer cooperates with a lot of sites, freelance exchanges, payment systems and other platforms that allow transfers to their card). You can also invoice anyone, such as your freelance customer, fill out the payment details and send it. The bill is paid either from a bank card or from another Payoneer account.
Officially, money is withdrawn in two main ways - to the bank account that the user linked to the account, and Payoneer Prepaid Mastercard (debit card). But nothing prevents you from making an indirect withdrawal through private exchangers, exchanging funds for their equivalent in another electronic currency. Unfortunately, there is no automatic exchange.
Payoneer in the CIS countries
Since the Payoneer system is American and initially focused on the Western market, many users have questions about the nuances of its work in Russian-speaking countries. Practice has shown that there is practically nothing to worry about.
Payoneer in Ukraine and Belarus
The current legislation of Ukraine prohibits citizens from having undeclared accounts in foreign banks.
Fortunately, despite the similarities to banking structures, Payoneer is positioning itself as a payment service. The user only gets access to the account, but does not actually own it.
On the other hand, if you withdraw money through ATMs, especially in large amounts, there is a risk of falling into the field of attention of the tax authorities. There are two options - either registering with the payment of taxes in accordance with the law, or traveling abroad in order to cash out funds at foreign ATMs.
Payoneer in Kazakhstan and Russia
In these countries, the service works without any problems. Funds are cashed through ATMs of almost any bank, converting from dollars into national currency at quotations close to those of the Central Bank. Additionally, a conversion fee is charged. With a Payoneer card, just like with classic bank cards, you can pay for goods and services in stores - there are no problems with the passage of payments.
What Payoneer users have to say about the system
There is no better way to be convinced of the reliability and quality of any site on the Internet, as well as to get an idea of its problems and shortcomings, than feedback from current and former users. And payment systems are no exception.
“Payoneer's official website provides too little information for those who just want to register with the system. You can find out about some points only after you open an account. Their internal forum, although it has a Russian-language section, did not help much in solving my problems. The rest of the service meets expectations. ”
Ksenia, 24 years old, freelancer.
“I highly recommend Payoneer. Better means to withdraw money from foreign affiliate programs and pay for goods and services. The system impresses with the simplicity of receiving the card - for example, Neteller's card issue costs more than $ 10, but here it is sent absolutely free of charge.
You can withdraw money from several sources at once. You just need to tell the payer your full name and email address. The card is also suitable for Russian sites - it has repeatedly replenished Megafon's account. Sometimes, however, some sites refuse to process payments. ”Borislav, 20 years old, Youtube blogger.
“They stole money. There was about $ 500 on the account, the card was not lit up anywhere, and other payment information too. The complaint was considered for almost a week, after which I had to call technical support via Skype. For about three months, the problem was solved, after which they sent a letter to the mail stating that the system does not bear any responsibility for the safety of the user's funds, while for some reason returning half of the amount to the account. I would not recommend taking risks and keeping large amounts of money with Payoneer - it is better to either use other systems or withdraw immediately. "
Maxim, 32 years old, webmaster.
If we analyze the reviews on the Internet, we can come to the conclusion that the overwhelming majority of users (75-80%) rated this EPS positively. The bulk of the claims of those who speak negatively about the service are justified by high commissions for service and withdrawal, as well as the slow work of technical support.
Who is Payoneer for?
Looking back at all of the above, we can identify the main audience of the system - these are people associated with e-commerce. The service provides favorable conditions for people who regularly accept money transfers, withdraw large amounts to a bank account or cash out at ATMs. Freelancers, investors, webmasters, service providers and people related to the listed activities should take a closer look at this payment.
For one-time payments and purchases on foreign sites, there are much more worthy alternatives in the face of Neteller and PayPal. They are no less popular, provide many more ways to deposit money into an account and are beneficial for small transfers. And if your area of interest does not go beyond the CIS, there is no point in registering with Pioneer at all.
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