The ongoing trend of online markets becoming the go-to business option has affected banks across the world in many ways. Digital banking is becoming more popular with each passing year.
Payoneer is one of the most reliable companies that provide financial services, including online money transfers and digital payments. With more than 5 million customers today, it successfully operates everywhere across the globe.
Frankly, Payoneer seems like a great option to open an account with, whether you are an employer or an employee. How to register your account, as well as what the potential advantages are, is what we will discuss throughout this article.
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
Before we get into how to open an account with Payoneer, we want to discuss a couple of benefits that put it in front of other payment services, such as PayPal and Skrill.
The first feature that makes it friendly to students and freelancers is that you don’t need to have a bank account in order to withdraw money. Once you have the Payoneer Mastercard, you can withdraw your money from the nearest ATM at a low fee.
The second amazing advantage is that, even if you are not in the US, you can open a virtual banking account at an American bank and have it connected with other payment services, such as PayPal and Google Pay.
Additionally, you can use this virtual account to connect with the Amazon Affiliate program and have the money deposited there.
The coolest part about Payoneer has to be the speed of service that it is highlighted by. They state that you only need to wait around 2 hours in order to have your money available once it has been sent to you from the payor. However, in most cases, it comes in as little as 10 minutes.
It supports more than 150 currencies and offers a fixed $3 withdrawal fee, which contributes to the overall value of this payment service.
Lastly, there aren’t any hidden fees, as Payoneer is completely transparent. This means there is no risk of you getting surprised or frustrated by additional charges!
How To Open a Payoneer Account
The application process is incredibly simple. The first step is to go to the Payoneer official website and then to the sign-up page or click the image below.
Once you fill in all of the required info, you will be redirected to connect your account with a Global Payment Service or a mass payout company. This is a step that you can skip and come back to later.
When you have your Payoneer account set up, you should go ahead and order your Mastercard. The card should be delivered within 14 business days.
Payoneer Affiliate Program
Much like Amazon and a couple of other payment services/marketplaces, Payoneer offers an affiliate program. Firstly, if you sign-up via a referral link, you will get a $25 bonus as soon as you receive the first $100 into your account.
This is in order to prevent those who won’t be using the Payoneer account as a payment service from getting the bonus.
When you have your account up and running, you can earn $25 for every friend that signs up via your link, which you can find by clicking on the “Refer a Friend” tab. Keep in mind that they need to get the $100 deposit in order to be eligible for the bonus.
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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!