How to Create a Payoneer Account?

Payoneer is a trusted payment system that provides financial services and processes online transactions to promptly transfer money. The platform is popular among businesses and freelancers, who find it convenient to receive the money they earn, as well as for people who trade on exchanges. This payment method cannot function as an e-wallet and is not suitable for transferring money to friends or family unless it is a family business.

Pros and Cons of the Service

The platform is beneficial and chosen by thousands of small land large businesses, as well as individuals, due to the following features:

  • Fast transactions. The system guarantees the fastest money processing and transferring. Funds are credited within a few seconds.
  • Secure transactions. The highest level of service security is guaranteed. The platform is DCI SSL secure. This means that a limited circle of a system staff has access to this information. Thus, the possibility of data leakage is reduced to the minimum. Enhanced encryption algorithms are used to keep user data and transaction details confidential and protected from hacker attacks. This financial provider is considered one of the more reliable ones among online resources.
  • Supported countries and currencies. The payment provider is an international system that welcomes users from all corners of the world. Its audience totals over 4 million users from 150 countries scattered all over the globe. Thus, to satisfy the needs and demands of clients, the portal processes 150 different kinds of currencies, including both international and local ones. USD, EUR, RUB, JPY, INR, CNY, GBP, and many other currencies are supported.
  • No fees for receiving international transactions. Money transfers between states are processed without additional fees.
  • Quick withdrawals. Compared to other online banking methods, Payoneer offers quick money cashouts. Funds are immediately withdrawn. A client does not have to wait long hours while cashout queries are processed.

Yet, nothing is flawless. The main drawbacks of the system include:

  • higher fees as compared to PayPal. Every payment system provider imposes fees and sets tariffs for particular operations. While some services are cheaper, some of them have higher fees in comparison with other online payment methods.
  • high exchange rates for the Mastercard system. When withdrawing funds to Mastercard cards with currency exchange, rates are not very favorable.

What Websites Accept the Payment Provider?

The system partners with the largest companies throughout the world. Since the platform is mainly targeted at large-scale businesses and offers favorable terms for e-commerce, the following well-known brands are the clients of the portal:

  • eBay,
  • Google,
  • 99Designs,
  • Adobe,
  • Tunecore,
  • Airbnb,
  • Wayfair,
  • Upwork,
  • Fiverr,
  • Walmart,
  • Shutlerstock,
  • Taboola, etc.


Payoneer is a convenient and cost-effective solution for businessmen and freelancers.

How to Register an Account in the System?

Now, let’s consider how to create Payoneer account. The registration process is very thorough and takes a lot of time. It is not very easy to pass registration since the system sets numerous requirements for its clients. Here’s a detailed step-by-step guide:

Step 1

  1. Go to the official website of the Payoneer system.
  2. Find a white “Get Started” button on the upper right corner of the interface.
  3. Now, the system offers you to indicate your legal status. Introduce what kind of business you have. For example, the following options are offered: an e-commerce seller, a freelancer, a supplier or a B2B seller, a large enterprise or a marketplace, or a vacation rental host. Choose the option that describes your activity in the most appropriate way.
  4. Next, define your purpose of registration. Tick the “I’m looking to get paid by international clients or freelance marketplaces” box if you want to receive money. If you’re going to pay other users, select the “Pay my service providers and suppliers” box.
  5. The next stage is specifying the amount of monthly sales volumes.
  6. Indicate all the asked personal data. Enter your first and last name, date of birth, and email address. Then click “Next”.
  7. Specify details as per your government-issued ID.

Step 2

  1. Here, you should enter the information about your location. A newbie will be asked to specify the county of residence, an exact address with a city, and a ZIP/postal code, as well as enter a mobile phone to which a verification SMS will be sent.

Note that it is possible to buy virtual phone number for SMS verification if you’re unwilling to enter a real phone.

  1. Receive an SMS code to verify your identity.
  2. Enter the code in a special space.

Step 3

  1. Create a password.
  2. Specify your identity document data.

Step 4

  1. Here, newbies should enter data about their bank accounts with all the asked details. Make sure to specify your bank name, bank account type, account name, currency, and bank account number.
  2. Agree to the Terms and the Privacy Policy. Click on the “Submit” button.

Step 5

  1. Find the “Sign in” button on the upper right corner of the website and access the account using your email address and password.
  2. Go to Settings, and find the “Verification Center” there.
  3. There, you’ll receive a notification to submit the relevant documents to pass the second stage of the verification procedure.

How to create a Payoneer Account without a Bank Account?

Note that it is possible to create the account on the Payoneer platform without having an open bank account. Here’s how to make Payoneer account without bank accounts.

There are companies that specialize in providing such services and simplifying the process of card loading. Users should contact them and submit a registration request via such agencies.

Payoneer is a reputable online financial service that works with the leading online marketplaces and companies. The system is mainly aimed at cooperation with businesses and freelance agencies; it is not intended for private use. The security system, a responsive interface, and the provided tools guarantee smooth, secure, and convenient money transfers. Although the registration process is long and scrupulous, it allows creating the right type of account and making your financial history transparent.

Related Articles

Leave a Reply

Back to top button