Payoneer is a financial services business that provides online money transfer and e-commerce payment services founded in 2005 with a $2 million in seed funding from then-
CEO Yuval Tal and other private investors. Currently Scott Galit is the CEO of Payoneer inc.
Payoneer provides various services related to money transferring such as wire transfers, online payments, account-to-account money transfers, reloadable prepaid master debit card. And also account holders can withdraw their money from Payoneer to local bank accounts (available to only a few countries) or to their e-wallets. Currently Payoneer is available for more than 100 currencies in
200 countries.
It's so funny with this service you really don't need to apply for a bank account anywhere. All procedure is taken care by the company themselves just right after you SIGN UP. You then have to wait for you Master Card to be sent to your doorstep and by the way, it's free..I mean no hidden fees...it doesn't matter which angle of the planet you are, it will just get there.
After loading you card with cash, that is when you get paid from the companies you work with, you
will be able to use any ATM machine that uses master card service to withdraw money. The cash will always come out in you own home currency.
Is Payoneer for you?If you are a blogger, internet marketer or a freelance worker, then Payoneer payment service is suitable for you. In most service companies, you can find that Payoneer is an available money withdrawal option.
Benefits of Using Payoneer Prepaid Master CardBy using Payoneer as your online money processing service, you could get lots of advantages. Here are a few of them.
- Security: Payoneer constantly improve their technology to ensure customer privacy and authentication. So you don’t need to worry about the protection of your Payoneer account. You can set up three security questions which will be asked whenever some fraud login attempts for your account. Only you know the answers, so only you can login to your account. Also Payoneer deactivate your Payoneer MasterCard when you don’t use your Payoneer account for awhile. You can activate your Mastercar again. But, this is a good move to ensure your money is safe with Payoneer.
- Free MasterCard: Payoneer offers every account holder a free MasterCard which is supported in every country. So you can withdraw your earnings through your local ATM machine within minutes. Also Payoneer will replace another card, if you lost your existing MasterCard.
- US Payment Service to get a free USA Virtual Checking Bank Account: This is one of the best offers Payoneer provides to people. With Payoneer’s US payment service, you can open a free virtual US bank account. To open this account, you should fulfill some requirements, but once you get these requirements, you can open a US bank account online for free at all. I use my US virtual Bank account to receive money from US companies and other European companies which offer direct deposit to US bank accounts as a payment option. I never need to wait and see weeks to get my paychecks. With US bank direct deposit, I can withdraw my earnings within a few minutes.
- Get European Bank Accounts to Receive Money from European Companies Faster: You can receive money from European companies faster and easily. When you have a Payoneer online account, Payoneer team will create an European bank account for you. So, when you next time want to receive a payment from a European company, just provide them your checking bank account details. They will deposit money and you can transfer them into your local bank or withdraw them using your prepaid MasterCard.
- Easy-to-use: As many US and European companies accept Payoneer as a reliable payment system, you can set up Payoneer as the default payment method by two-three clicks. Also, as the Payoneer Card is a one-time authentication debit card (no need to verify your identity again), you can easily pay bills, recharge your SIM and shop online.
- Currency: Payoneer supports over 100 currencies in worldwide. No need to convert funds into local currency you are dealing with. Payoneer MasterCard automatically converts them to the local currency at competitive rates. You don’t have to do anything for that.
- Account to Account Money transfer: Now you can transfer money from one account to another easily with Payoneer. This is very helpful, if you provide custom offers for your customers. If your buyer uses Payoneer, you can both benefit from Payoneer secure and fast one-to-one money processing service.
- Transfer Money to local bank account: This feature is currently available for only a few countries. But, we can expect that Payoneer will enable this service to other countries as well. If you are in one of those countries where Payoneer’s direct bank deposit is supported, you can withdraw your money to your local bank account with just a few clicks. How awesome that is?
- Multilingual Online support: Unlike other online payment processing services, especially unlike PayPal, Payoneer has a robust customer support service which works 24x7x365. I have used Payoneer Online chat service a few times and was able to solve my problems within a few minutes. This is a must have feature in every company where users have problems.
- Cost-Effective: You will avoid fees when shopping online with Payoneer Card and sending funds to friends, relatives and customers located abroad. Payoneer has low monthly fees for unlimited time uses.
- Phone APPs to Check Account Balance: Now you can download and install Payoneer app for Android and iPhone phones. Using these apps, you can check your balance within your mobile phone for free. No need to use ATM machines which takes some time and also charge a fee too.
- Financial Responsible: You only spend the amount that is loaded to the card. Payoneer MasterCard is a debit card, not a credit card. So you know that the maximum amount that will be spent. So you can manage your account responsibly.
- Load Money from local bank (saving or checking account) to Payoneer Account: Like other payment processors, with Payoneer, you can load money from your local bank account and from credit card to your Payoneer account easily. This is very helpful, if you have a seller who only has the Payoneer as a payment method.
- Different Payment options: You can withdraw your money from a few different methods. They are,
- Deposits to local banks worldwide
- Prepaid Debit cards.
- Wire transfers (only available for a few countries)
- Global and local e-wallets
- Local-currency paper checks.
How To Apply For Payoneer Prepaid Master Card Account (Full Guide)
The first rule to consider while wanting to create this account is age eligibility. You must must at least 18 year or above. Payoneer let's you have a share of their earning. Earn $25 dollar by refering a friend to SIGN UP with them
Before we start learning how to open your account, you would like to know the fees that Payoneer charges from you.
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| Important Note: Your Payoneer account’s charges could be different as your associated Payoneer mass payout company and card usage. |
How to Apply for a Payoneer Account
Even through Payoneer is very useful for people who are outside of USA, US residents can also open accounts for free. Here’s how to open your account shortly.
Step #1: Go to Payoneer
You will get a bonus when you sign up to Payoneer through using this LINK, your account will be loaded extra $25.00 for free once your account is loaded with $100.
Step #2: Click the sign up button and fill out the application form.
You will the see a thank you page after succesfully filling up the form for signing up
and If your application has some errors, you will be notified that your application is declined. Like I got a few years ago.
Otherwise If your application is error-free, you will receive a success message.
Step #3: Activate MasterCard
The next step is to activate your MasterCard. It could takes upto to 4 weeks(Tanzania) to receive your Payoneer card. It depends on your Geo-location and the mail delivery efficiency. Once it arrived, you should activate your master card.
With the MasterCard, you will receive a four-digit number. You need to submit that number to verify that you received your card.
Login to your Payoneer account and click on “Card Verification”.
Then provide your card information such as card number, PIN number (you can enter a manual number which you will use when withdrawing money from ATM machines and in other security cases).
Once you successfully activated your card, you will receive a message to your email account.
Step #4: Once your MasterCard and Payoneer application is approved, you are ready to apply for Payoneer US Payment service.
I hope you got it upt to there...give your opinion in the comment box below.
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