Payoneer Review: How Safe & Trustable it is? (Updated + $50 Bonus)

  • Is Payoneer Safe & can it be trusted?
  • Is Payoneer legitimate?
  • Should you be using Payoneer?
  • How do Payoneer works?

In this detailed review of Payoneer, I will help you learn everything about Payoneer. It’s pros, cons, and other important features that you may never find elsewhere.

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Sending and receiving payment from another countries is essential in today’s date for any freelancers and bloggers.  Payoneer, which is a popular online money transfer service, offers features which are suitable for seasoned and professional freelancers.

Payoneer is cheaper than PayPal for sending and receiving funds. I have tested this, and you can read my case study on PayPal Vs. Payoneer here to see the data.

What is Payoneer & how it works?

Payoneer is a fintech service that let you get paid online. It works for the majority of online users such as:

  • Bloggers
  • Amazon sellers
  • Affiliate marketers
  • Freelancers

You can request money to anyone (even if they are not using Payoneer).

Payoneer offers you local bank account which you can use to get paid by your advertisers or clients. Since the clients are paying in local currencies, they don’t have to deal with huge remittance charges or Forex charges. This feature is called “Global payment service.”

Using Payoneer, you can get paid in the following countries as if you are a local:

  • USD account (USA)
  • EUR Account (Europe)
  • GBP account (UK)
  • JPY account (Japan)
  • AUD account (Australia)
  • CNH account (China)
  • CAD account (Canada)

You will be using your international bank details provided by Payoneer to receive funds by companies and marketplaces globally. For example, if you are an Amazon affiliate or seller, you can get paid in the local bank account.

Once a company deposits the funds to your Payoneer account, the fund is automatically converted to your local currency and is available for withdrawal.

In the below screenshot, you can see how my U.S. bank account details look like:

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Whenever you have to receive payment from any U.S. Client or European client, you can share your unique U.S or U.K. payment service detail (You will get this detail inside your Payoneer account) to receive payment.


When you use Payoneer over PayPal to receive payment, you will save on Forex conversion & transaction fees. A freelancer from India highlighted that she was able to save about $5 when using Payoneer to receive payment instead of PayPal. (See below screenshot)

Payoneer vs PayPal India
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Payoneer is an excellent way to receive payment from various companies that are popular among Indian freelancers & bloggers. The biggest benefit is; you will save a notable amount in the transaction.

How much is Payoneer fee?

Payoneer fees are what makes it most popular among freelancers and affiliates. When you are receiving funds via a receiving account, there are no fees.

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Here are a few places where Payoneer charges us:

  • When transferring funds to our bank account. This is charged as 2% of the total withdrawal amount.
  • Forex conversion charges (Which is standard and way lower than other Payoneer alternatives)
  • When a payment is paid via credit/debit card, the charges are 3% of the total amount

Payoneer payment option from network and marketplaces:

Payoneer is added as an official payout option by many ad networks, affiliate networks, and freelancing marketplaces. This not only reduces the cost significantly for one who is sending money, but it also helps us to save a significant portion of money.

The list of supported networks by Payoneer is getting longer every other day. However, just for your understanding, here are a few popular companies that support Payoneer as a payment option:

  • PropellerAds
  • Fiverr
  • AirB&B
  • Commission Junction
  • GettyImages
  • TradeDoubler
  • Rakuten
  • UPWork
  • 99 designs
  • Truelancer
  • Clickbank
  • Depositphotos
  • CPAlead
  • eBay
  • Groupon
  • Odesk Corporation
  • People Per Hour
  • Prosperent
  • SEDO
  • ValueClick

There are more than 100+ supported marketplaces. My recommendation is Indian Bloggers, Affiliate Marketers & freelancers to start using Payoneer where ever possible instead of PayPal.

The signup process is simple, and you need to provide your bank details to receive payment at the time of sign-up. Approval can take up to 24 hours, and once approved you can get your U.S & U.K Payment service details.

Get Bonus $50 When you do your first $500 transactions:

Here you got one more reason to start using Payoneer. When you signup for Payoneer & use it for $500 transactions (Send or receive), you will get a bonus of $50 just for using it. This is part of their launch promotion, and I find it lucrative enough for anyone.


[Tweet “Sign up for #Payoneer & get the chance to earn $50 #tip by @ShoutMeLoud”]

Payoneer India limit:

  • Limit of INR 5,00,000 per single transaction
  • Daily Payoneer to Bank transfer limit is 5,00,000
  • Monthly transaction limit INR 2,500,000

Time-saving Tip: Save your U.S or Europe payment service locally using Evernote or any note-taking app. This way, you don’t have to log in to Payoneer every time to get the details.

Payoneer virtual card:

Payoneer offers pre-paid physical master card and also a virtual card in many countries. Unfortunately, the Payoneer card feature is not available in India, due to regulatory issues.

Note: You can’t receive payment from Everyone, as Payoneer let you accept Payment in India only from companies which are in their whitelist.


I contacted their customer support with the query:

Hey Team
One of my client who is an advertiser on my site is not on your white list. Can I provide him with my U.S bank service number, and he can transfer the money using ACH or Wire transfer??

And the response I got was:

Payoneer India Payment Rule
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Conclusion: Payoneer review

Being a long-time user of Payoneer and have received over $100,000 in the past few years via Payoneer, I could totally vouch for it. In fact, whenever possible, I use Payoneer to receive funds over PayPal or other similar services, because of it’s low fees and faster service.

Do read:

Overall, Payoneer gets 5 stars for its services and helping freelancing and business owners to do business globally.

Do you have any question about Payoneer services? Want to share your Payoneer review and experience? Let me know in the comment section below.

Once you are done signing up for Payoneer, here are more articles to read next:

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Authored By
A Blogger, Author and a speaker! Harsh Agrawal is recognized as a leader in digital marketing and FinTech space. Fountainhead of ShoutMeLoud, and a Speaker at ASW, Hero Mindmine, Inorbit, IBM, India blockchain summit. Also, an award-winning blogger.

62 thoughts on “Payoneer Review: How Safe & Trustable it is? (Updated + $50 Bonus)”

  1. hello hirsh can i add mastcard to payoneer am thinking about using sharecash. org for uploding files on my blog
    can i get payout through payoneer?


  2. hey Harsh
    Can i use payoneer to receive Adsense earnings?
    How much minimun balance is required in payoneer account to be transfer in my local bank account?

  3. so making it sure again: only registered company can send money using US/EU Payment Service, individual person cannot right?

    and does payoneer mastercard works in india? or it’s like paypal auto withdraw system?

    1. @Raju
      Payoneer Mastercard doesn’t work in India. They also have auto-withdrawal system like PayPal.

  4. Hi Harsh,

    How do i add bank account for withdraw payments.
    I have created account but not getting option to add my bank account.


  5. Thanks for sharing such a useful info.
    But one problem, “India” is not listed there in country dropdown list. How can one signup being an Indian?

    1. Harsh Agrawal

      To get the free $25 sign-up bonus, you need to receive minimum $100 from any of your source.

      1. hello Harsh , i have a question about $25 sign-up bonus i have receive payment first time 29$ sec. time 55$ third time 102$ . so my question is. Am i eligible to receive 25$ sign-up bonus . thnaks

        1. Yes, I also saw that $25 bonus too, and visited your shoutmeloud bolg to have a dependable answer for that. My question is similar to Navneet–
          Will the $25 bonus work if, say I receive $80 from one source and $50 from another source ?
          Or, I need to have one single transaction for $25 ? In that case, if I make the first transaction for $80, and the next for $120– will I get that bonus ?

          1. @Partha
            This will work even if you receive $80 from one source and $50 from another source. 🙂

      2. Can I receive transactions from individual users? If yes; does it count in the referral program?

  6. Muhammad Sadiq

    Thanks a lot to tell you about Payoneer Bank very well explained with the help of this post is in apply. thanks Harsh Agrawal for your Payoneer review

  7. Gopala Krishnan

    Many bloggers struggle to get the paypal account approved… i hope Payoneer dont give that trouble… and 25$ bonus is a awsome news.. tjank you.

  8. It’s kinda sad how the RBI always blocks the tangible cards from payment processors such as Payoneer and Entropay. I sincerely hope the that the situation for freelancers improves in the future.

  9. Good to know they are back. This opens doors for more businesses in India.
    I have got so many clients there but payment has always been an issue.

    Now, this really is a big solution

  10. 25$ Bonus is awesome. I will give it a try for sure and its great for saving good conversion amount. Thanks for your review!

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