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Payoneer Review, Exchange Rates, Fees Calculator & User Score

  • Fees and costs: Average
  • Transfer speed: Very Good
  • Safety and reliability: Very Good
  • Customer satisfaction: Good


  • Free transactions within the system
  • Platform supported by popular online services
  • Helpful customer support


  • Hard to calculate the fees

0 users would recommend it

0 users wouldn’t recommend it


What is Payoneer?

Payoneer aims to provide easy international money transfer and financial services like plastic cards and online e-wallet accounts or currency exchange. The company has been on the market for more than 15 years and now provides services in almost 200 countries. The service is used by companies such as Airbnb, Amazon, Google, or Upwork.

How Does Payoneer Work?

Once you register on the platform, you can handle your online finances easily through Payoneer, whether it’s sending international money transfers or managing e-commerce store and connecting with the clients. It is easy to handle mass payments. Therefore, the platform is also connected with Walmart online stores or even Fiverr, which is a freelancer marketplace. You can also open a local currency account, which can act almost like a regular bank account in this country.

The payments are said to be delivered within 2 hours.

Payoneer Fees and Costs

Sending and receiving money from other Payoneer customers is entirely free, as the money remains within the system. When it comes to other payment methods, the fees are based on the currency pairs, your location, and countries you want to send the transfer to. Usually, you can expect a fee of around 1% of your total amount. Withdrawing funds to your bank account cost $1.50. Also, keep in mind that your bank may add extra fees for processing credit or debit card transfer to the platform.

Payoneer Exchange Rate

While the exchange rate is quite attractive and sometimes even above the mid-market rate, there is a flat fee of 0.5% of your total amount for exchanging the money.

Payoneer Limits

While there is no clear information about transfer limits, some of the customers are reporting that the minimum amount is set at $150. Also, taking into consideration that the service is used for online e-commerce stores and mass payments, maybe after verification or by choosing different account types, one can access different payment limits. They could also depend on the local regulations and laws.

Payoneer Card Limits

As you can also order a plastic card to pay in stores for your everyday items, there are some daily transaction limits. The total daily spending is $7500, and you can’t make more than 20 ATM withdrawals for a total of $5000 per day.

Payoneer compared to wire transfer and banks

The costs of sending the money through Payoneer are significantly cheaper compared to any mainstream bank. Moreover, the company started adding more features to suit their international customers, and business owners. For example, they offer automated tax form service or an Integrated Payments API for SaaS providers to link cross-border B2B payments across cloud platforms.

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How to use Payoneer?

To start managing your online funds and sending international payments, you need to visit the Payoneer website and open up a free account.

How to sign up?

Visit the Payoneer webpage and click on the “register” button at the top of the page. You will then need to fill out your personal information and undergo few verification measures. Payoneer can sometimes ask for a “proof of residence” to confirm your address. You need to provide a document confirming where you live – it must have both your full name and your address printed on it.

Is Payoneer safe and reliable?


Payoneer is very transparent when it comes to their security measures. Their system covers both the user data but also protects the sole transaction process and the money on the accounts. All of your personal data, as well as each transaction, is protected by secure encryption that makes data unreadable. They also scan and verify each transaction to prevent potential fraud attempts, identity theft, phishing encounters, or other types of attacks and scams. You are also always notified when there are any changes made to your account, or a transaction is being ordered.

Public Reception

Payoneer has been listed as one of the top ten payment application programming interfaces (APIs) based on traffic. It has also been mentioned in CNBC Disrupter 50 two years in a row. Apart from it, they got Owler’s Hot in New York Award, Gold in Stevie Award’s for Best Financial Services Company, and was mentioned as one of Crain’s Best Places to Work in NYC.

It’s worth noting that the system has been recognized and used by many leading companies and corporations in various fields. Therefore, one can assume that the service needs to be reliable and of good quality.


A significant majority of the comments and Payoneer reviews found online are rather positive. Many customers are happy with the quality of customer service and help center, which quickly solve their issues and answer any questions. The complaints focus on the verification process and amount of documentation the user needs to provide in some cases. However, it’s a standard procedure required to provide safe and transparent services and meet all of the anti-money laundering and tax regulations.

“Payoneer is quick and easy to work with. Withdrawals usually only take a day or two to reach my bank account. When things don't go as planned, the customer support is always there to respond to any inquiries.” ~ Denzel on Trustpilot

“Its the best and safest way to send and receive funds online. However, the company should work towards reducing the accounts and other documents' approval time. Also, the company's support team is awesome and ready to help.” ~ Mutahi on Trustpilot

There are also some reports that there may be some additional or even hidden fees:

“I was once charged 8%. It's a rip-off to convert the dollars. Just withdraw the dollars, and then convert to your local currency elsewhere.” ~ youcangofaster on Reddit

“The fees are too high, I was withdrawing $400 and the amount deducted was $428.05” ~ Mohamed on Trustpilot

Customer Support

You can reach Payoneer in multiple ways. First of all, there is a well-developed help section that can answer many of your beginner questions like how to set up the account and order your first payment. If you have any issues, you can reach Payoneer customer support via a phone call, live online chat, or through an email.

Judging by the customer’s reports, the support is on a rather good level, and they will quickly help you solve your issue. However, it may be hard to reach them, as the line is often busy, and there is a queue of customers who are waiting to be connected.

Final Thoughts

Payoneer Review

Payoneer seems to be a very well-established and already checked by various types of customers company. The service is reliable, and it’s safe to send money through them. When it comes to the sole quality of the platform, it is designed quite well, which makes it easy to send the money. However, the information isn’t provided that transparently and it’s hard to research all of the potential fees. The transfer speed is very good, and the customer support is always ready to help with any issues.

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