Payoneer is one of the greatest online companies and platforms for sending and receiving cross-border payments for online customers. It works in the same way as PayPal and other businesses do.
You only need to create a Payoneer account, which you can then use to collect payments from businesses online. Request a Payoneer MasterCard, which you may use to make online purchases, withdraw funds from ATMs and local bank accounts, and even spend money online.
Payoneer works by opening virtual accounts in banks in Western countries, such as First Century Bank in the United States. For each currency, you will be provided an Account Number, Routing Number, Swift Code, and other information.
What Is Payoneer?
Payoneer is a quick and simple solution for sending and receiving money from online businesses. The best thing about it is the fact that the Payoneer Mastercard is completely free, while the annual maintenance fee is set to $29.99, which has to be one of the lowest fees on the market.
If you are in the USA, Europe, the UK, or Japan, you will be able to open a bank account through Payoneer, which will make withdrawing money much easier.
As it is connected with several international marketplaces, including Elance, Udesk, Fiverr, Upwork, Airbnb, Odesk, Guru, and a few others, it is probably the best financial services solution for freelancers.
Advantages Of Payoneer
How To Sign-Up For Payoneer Account
There are 4 steps in Payoneer signup process:
- Go to official Sign-up Page of Payoneer.
- Click “Sign Up & Earn $25*”.
- You will earn $25 when your balance exceeds or reach $1000.
Step 1: Get Started
- Choose Individual if you want to create for yourself. You can create for your company as well. Here we are making for “Individual”.
- Enter your First Name.
- Enter your Last Name.
- Enter your Email Address.
- Enter your Date of Birth.
- Make sure to provide this information according to your official certificates like Birth Certificate or National Identity Card.
- Click NEXT.
Step 2: Contact Details
- Choose your Country.
- Enter your correct & complete Address.
- Enter your City/Town name.
- Enter the Postal or Zip Code of your city. If you don’t know Google it.
- Enter your active Mobile Number because it will verify your number by sending a code. Do not give someone else’s number.
- Click the “Send code” link inside the “Verification Code” textbox. It will send you a code via text message.
- Enter the code that you will receive on your phone in “Verification Code” textbox.
- Click NEXT.
Step 3: Security Details
- Enter your Username. Username is your Email. The email address that you have entered in the Step 1, enter that again here.
- Enter a secure Password.
- Choose a Security Question and Enter the answer. Note down this question and save somewhere. This information is required when you forget your Password.
- Enter the Captcha(Code).
- Click NEXT.
Step 4: Almost Done
- Choose the type of your local Bank Account whether it is your Personal or Company account.
- We are choosing “Personal account”.
- Choose your “Bank Country” means where your local bank is located.
- Choose the “Currency” of your country.
- Enter your Bank Name.
- Enter the Account Name. It is the Title of your local Bank Account. It is mostly your full name. It is written on your checkbook or ATM card.
- Enter the IBAN.
- IBAN is your International Bank Account Number. It is used for international transactions. It is your bank account number, only the difference is that some letters are added to your account number. For example this is a Pakistani bank account number 0995 1463 3662 2134, the IBAN will be like PK69 MUCB 0995 1463 3662 2134. You can get your IBAN from your online bank account or you can request your bank to provide you the IBAN. You can also create IBAN by yourself by visiting your bank’s website.
- Tick “I agree to Pricing and Fees.”
- Click NEXT.
- You will be redirected to Congratulations Page. You have successfully signed up for Payoneer account. After a review Payoneer will send you an email whether your application is approved or not. In most of the cases they approve, so you don’t need to worry.
- Once your application is approved they might ask for your scan copy of National Identity Card or Birth Certificate just for the verification purpose. Once you upload and they verify your documents your Payoneer account will be fully verified.
- Once you start receiving payments you become eligible to order Payoneer Prepaid MasterCard. It works just like any other MasterCard. The card is accepted worldwide, wherever MasterCard is accepted electronically.
For anyone who does online business, Payoneer seems like a fantastic solution in terms of the fees/charges applied, as well as the simplicity of service.
We did our best to highlight all of the essential features that highlight this company, and now it is up to you to go ahead and create an account if what is offered suits your needs!
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