Payoneer Review - After Receiving Over $60,000 Here’s What I Think…

my payoneer review after processing over $60,000+ worth of money for me

Payoneer has processed over $60,000 worth of money for me and from experience, I will walk you through a detailed Payoneer review in which I will show you everything you’ll need to know (both the good & the bad) so that you will be able to make an informed decision on whether or not you should use Payoneer.

I attached an image showing you my Payoneer account dashboard and the payments I’ve received via Payoneer.

IMPORTANT NOTICE: If you do not have much time to spare, you can skip reading the article and go to the summary by CLICKING HERE (but I’d recommend you read the article in detail so that you’ll get the know everything you need to know about Payoneer)

am image showing how much i’ve withdrawn from payoneer to my bank
am image showing how much i’ve withdrawn from payoneer to my bank

With That Said, Let’s Get Started With The Payoneer Review.

There are basically seven (7) factors that you must consider before choosing a payment service and will be walking you through all six of them below so that you will get to decide if Payoneer is right for you or your business:

  1. Abilities (things they can do)
  2. Their Fees & Rates
  3. Safety
  4. Their Customer Support
  5. Transaction Speed
  6. Incentives
  7. Other Customer Reviews

I will walk you through how Payoneer performs on all the seven factors that I have mentioned above so that you’ll get to decide on whether or not their service will be right for you.

1. Let’s Look AT Payoneer’s Abilities:

With Payoneer, you send money to anyone and as well receive money from anyone that’s anywhere around the world. (even if they do not use Payoneer)

When you create an account with Payoneer you get bank accounts created with your details in most of the top countries around the world. These include:

  • A USD account in the USA
  • A EUR Account in Europe
  • A GBP account in the UK
  • A JPY account in Japan
  • A CAD account In Canada
  • A CNH account In China &
  • An AUD account In Australia.

And this gives you the ability to receive payments from all around the world because most of the top countries that are around the world.

So, I think Payoneer performs just fines when checked by its abilities and with that said lets now look at Payoneer’s fees and rates.

2. Payoneer’s Fees & Rates:

Payoneer like any other payment service around the internet has it’s own fees & rates but you have to make sure the rates will not be too high for you so I’ll walk you through all of Payoneer’s fees & rates below so that you will decide for yourself.

Payoneer & other services like it charge people each time they:

  • Make a payment
  • Receive money
  • Exchange currencies
  • Transfer money to your local bank account &
  • Use their prepaid Mastercard.

So, I’ll walk you through what Payoneer charges for all these services that I mentioned above and also what Payoneers biggest competitor PayPal charges as well so that you get a full scoop of the whole thing.

Payoneer’s Fee’s & Rates When You’re Making Payments

When you’re making payments with Payoneer, you actually get charged $0 for the service and In my opinion, that’s something that is really rare as with most of the other payment companies out there you get charged whilst doing that.

Payoneer’s Fees & Rates When You’re Receiving Money

Whilst receiving money with Payoneer, you have two options and these include:

  • The billing service
  • The global payment service.

While using the billing to receive payments you will be billed a 1% fee if the payment you’re receiving is in U.S dollars (USD) but whilst receiving money with the billing service in other currencies you will be billed a 3% fee.

But if you’re using the global payment service (which is what most people use), you will receive the money that is sent to you in one of the local bank accounts that Payoneer creates for you in the major countries of the world.

When the money that you’re receiving is coming in the following currencies:

  • Euros (EUR)
  • Japanese yens (JPY)
  • British pounds (GBP)
  • Australian dollars (AUD)
  • Canadian dollars (CAD) &
  • Mexican pesos (MXN) you will be charged $0 for the money you receive when the money comes in the currencies that I listed above, but if the money you’re receiving will be coming in U.S dollars (USD), you will be charged a 1% fee for it.

Payoneer’s Fees & Rates When Exchanging Currencies

When you need Payoneer to exchange currencies for you, they charge a 0.5% fee for that and in my opinion that is very low as most local banks and bureau centers charge higher.

Payoneer’s Fees & Rates For Transfering Money To Your Local Bank

What Payoneer will charge you here depends on whether or not the funds you will be withdrawing will be in your local currency or a different one.

  • When you’re receiving money in a different currency (for example you want Payoneer to transfer the sum of $24,000 (USD) to your local bank in a country like India which uses Rupees) Payoneer will normally charge you 2% for that. But if you signup for your Payoneer account through a VIP link you will be charged just 1.2% for that & you can create a VIP Payoneer account by CLICKING HERE (the link will take you to the Payoneer page where you can create your VIP Payoneer account to lock in on the 1.2% rate)
  • But when you’re receiving your money in the same currency (for example you want to transfer the sum of $10,000 (EUR) to your local bank account in Europe the which equally uses euros) you will be charged just $1.50 (no matter the amount you’re transferring).

Payoneer’s Fees & Rates For Using Their Prepaid Mastercard

When you get your Payoneer account, you have the option of ordering a prepaid MasterCard that you can use to withdraw money in your local currency from anywhere around the world.

When you use this Mastercard to withdraw money from any ATM around the world. Payoneer exchanges the money and gives you the equivalent of the currency that is used in whatever country you withdraw the money from.

But It’s Important for you to now that this service comes with fees as well. Payoneer charges a $1 fee per withdrawal you make with their prepaid Mastercard. You can see the MasterCard charges that they billed on my account in the screenshot below:

An image showing how much payoneer charged me for using their master card
An image showing how much payoneer charged me for using their master card

So, now that I know that you know all that you should about Payoneer’s fees let’s now take a look at Payoneer’s safety.

3. How Safe Is Payoneer?

As regards safety, you should make sure whatever payment service that you’re using to send or receive funds is a 100% safe and legitimate one.

In my opinion as someone that has used Payoneer for quite a long time now, I must say that I’ve had no issues with the security of my account.

Moreso, Payoneer is fully registered in the united states under the United States Money Service Business which is also known as the MSB.

Payoneer is quite an old company has been in business since 2005 (over 15 years now) paints a good picture of stability.

In regards to security, Payoneer has equally taken a lot of physical and technical security measures to ensure that all customer account data is 100% secured to the brim.

So, In my Opinion, Payoneer is good security-wise. And now that we’ve looked at Payoneer from the angle of its security, let’s now look at Payoneer’s customer support.

4. How Good Is Payoneer’s Customer Support?

As regards Payoneer’s customer support, I won’t say they really have the best in the market, but I can tell you from experience that they are better than most of their competitors.

When I had issues with PayPal (they locked my account with over $10k in it) I really found it hard getting someone to chat with me as other companies do. The PayPal people sent me to a robot call center which was not helpful at all and I lost the money in that PayPal account.

But with Payoneer’s customer support, I actually got to chat with a representative from Payoneer (a real human being), unlike PayPal who expected me to chat with a robot.

Though the chat with the Payoneer representative wasn’t all that perfect (there were slight spaces between each reply), it was helpful at last.

I will give Payoneer’s customer support a 3.5 out of 5 stars, but still, they are better than most of their competitors. Paypal is awful and I’d give them a 1 out of 5 stars.

Now that we have looked at Payoneer’s customer support, let’s look at their transaction speed.

5. How Fast Is Payoneer?

When making and receiving payments with Payoneer, it all happens within minutes from my personal experience with them.

All the times that I have had money transferred to my local bank account from Payoneer. It takes 2 to 5 business days but when you’re getting the money transfer to your local bank in the united states it’ll take just 2 to 3 business days for the money to arrive.

So In my opinion, I’ll give Payoneer a 4.5 out of 5 stars in regards to their transaction speed. And now that we’ve looked at Payoneer’s transaction speed, let’s go ahead and look at their Incentives.

6. Does Payoneer Have Any Incentives?

Payoneer unlike many of its competitors gives it’s potential users an incentive (which means a reason to sign up with them). But most people while signing up for their Payoneer account usually miss it.

This is because on the Payoneer home page which is what you see in the image below they actually give no signals that they actually offer you incentives.

an image that depicts payoneer’s homepage without incentives
an image that depicts payoneer’s homepage without incentives

But If you go through a VIP link, you will find out that Payoneer actually gives away a $25 sign up bonus when you create an account with them. You can CLICK HERE to go to the VIP page where you will get the $25 bonus which looks like what you see in the image below:

a picture showing payoneer with their $25 sign up bonus
a picture showing payoneer with their $25 sign up bonus

So, as regards the Incentives, Payoneer does a good job unlike most of its competitors (PayPal) who would even take your own money from you.

Now that we’ve looked at Payoneer’s Incentives, let’s now take a look at what other customers who have used Payoneer had to say about their services.

7. Payoneer Reviews From Other Customers

As at the time of writing this, Payoneer has over 13,533 reviews on Trustpilot and out of those 13,533 reviews, Payoneer still holds an excellent rating on there (which is very very rare with most companies out there)

You can see for your self in the image that I have attached below:

a picture showing payoneer’s proud 13000+ positive reviews on trustpilot
a picture showing payoneer’s proud 13000+ positive reviews on trustpilot

Also, you can see that PayPal (which is Payoneer’s biggest competitor) has a very bad reputation with most of their past customers (including me) complaining of their accounts being locked with money inside of it.

You can see their trust score on trust pilot from over 8000+ reviews in the screenshot below:

paypals 8000+ reviews on trustpilot showing you that payoneer is better
paypals 8000+ reviews on trustpilot showing you that payoneer is better

So, from what we see in the images above, it is very clear that people that have used Payoneer from all around the world are happy with it and I don’t see a reason why you won’t be as well.

To Wrap Up This Payoneer Review

I must say that from what we’ve seen whilst checking Payoneer’s, abilities, fees & rates, safety, customer support, transaction speed, incentives & what other customers say about them we can come to the conclusion stated in the 3 summarizing facts below:

  1. That they are not a perfect company but are the best right now when compared to most of it’s biggest competitors (such as Paypal)
  2. The fact that they give you a FREE $25 & a reduced bank transfer rate of 1.2% when you create your account through a VIP link is a no brainer! (You can CLICK HERE to go to the VIP page and create your Payoneer account from there)
  3. I have used Payoneer and still use them on a regular basis to process large sums of money (up to $60,000) and I’d strongly recommend them to anyone who is maybe a freelancer, a blogger, an amazon seller, an affiliate marketer or just someone who wants to receive payments online globally.

Payoneer works hand in hand with some of the worlds biggest companies, such as:

So, guys, that’s all I’ve got to say to you about Payoneer. They’re not perfect but they’re the best when compared to their competitors.

With all that said, I’ll just answer some frequently asked questions and then give this article a bye-bye.

Frequently Asked Questions Related To Payoneer?

1. Is Payoneer Safe & legit?

From everything that we went through in this article, it is evident that Payoneer is all safe and legit and I myself who have been using them for years now haven’t had any issues with them. You can find more details on Payoneer's safety by CLICKING HERE.

2. Can Payoneer Be Trusted With People’s Money?

The answer to this is a YES as well as I have trusted them with very very large sums of money which was transferred safe and sound to my local bank account here in my country. You can learn more about Payoneer’s safety by CLICKING HERE.

3. Can One Transfer Money From Payoneer To His or Her Local Bank?

The answer to this question is a YES as that is one of the features of Payoneer that I too have used a lot of time. It is also important for you to know that the transfer of money to your local bank account from Payoneer comes with fees. You can CLICK HERE to go to the section where you can learn about the fees.

4. Does Amazon Accept Payoneer?

YES! Amazon accepts Payoneer and so, does other top companies online like Fiverr, Air BNB, CPA grip, Ad work Media, Getty Images and lots more. You can see a list of all the companies that accept Payoneer HERE.

5. Do You Need A Bank Account To Use Payoneer?

The answer to this would be a YES because while signing up Payoneer will need you to enter your local bank accounts details so that they will be able to transfer money to you through those account details. So YES, it is needed!

Those are the top questions about Payoneer that I felt I should answer in this very clear, concise and detailed article. Thanks for reading guys. I wish you guys happy money-making and payment receivings.

In order for me to stay in compliance with FTC’s rules, it is important for you to know that there are affiliate links in this post and this means, I might get small commissions from the links. Thanks again for reading and supporting me guys. PEACE!

I write and reveal what no one else wants to reveal online. I always stick to the TRUTH. Read ON friends & Thanks for reading.