In this digital age, it is easier and more convenient than ever to send and receive money cross-border. Among the best platforms that facilitate this is Payoneer—a reputable financial services firm utilized by online sellers, freelancers, affiliates, and businesses across the globe. If you are new to Payoneer and need to know how to get paid your first time, the following is a step-by-step process to guide you through the experience, informing you about what to look out for and what to avoid.
Whether you are a freelancer expecting your initial client payment, an Amazon-seller waiting to get paid, or just someone getting money from overseas, this article will ensure your Payoneer experience is smooth-sailing.
What is Payoneer?
Payoneer is an international payments platform through which users are able to receive, send, and hold funds across borders. It accepts more than 150 currencies and is receivable in over 200 countries, and as such, it is one of the most popular choices among freelancers, remote employees, affiliate marketers, and companies that do business overseas.
Payoneer provides a receiving account in multiple currencies, virtual bank account numbers by currency (USD, EUR, GBP, etc.), and a Payoneer MasterCard for withdrawing funds at ATMs or online.
Step-by-Step Guide: How to Receive Money on Payoneer for the First Time
Step 1: Create and Verify Your Payoneer Account
You have to have a verified Payoneer account in order to receive money.
Here’s how to do it:
Visit the official Payoneer website: www.payoneer.com
Click “Register” or “Sign Up.”
Select account type (Individual or Company).
Provide your personal details, contact info, and bank details.
Upload a legitimate government-issued document (passport, driver’s license, or ID card).
Wait for authorization. This is typically 2–5 working days, but sometimes faster.
Pro Tip: Ensure all the details are consistent with your legal documents to prevent delayed approval.
Step 2: Know How You Can Get Money
Payoneer provides several options for getting money:
Global Payment Service
You get virtual bank accounts in significant currencies (USD, EUR, GBP, etc.).
Customers can transfer money to you as if it’s a domestic bank transfer.
For instance, a U.S. customer can send money to your USD receiving account via their bank.
Direct Payments from Payoneer Users
If the payee also has a Payoneer account, they can deposit money directly to you via your email address.
Marketplace/Network Payouts
Payoneer is integrated with platforms like:
- Fiverr
- Upwork
- Amazon
- Freelancer.com
- Airbnb
Link your Payoneer account to these platforms to receive payouts.
Request a Payment
You can send a payment request/invoice to your client.
Payoneer provides a professional interface, and clients can pay via credit card, bank transfer, or ACH.
Step 3: Linking Payoneer to a Client or Platform
Let’s say you’re a freelancer on Upwork or Fiverr. Once your Payoneer account is approved, follow these steps:
- Log in to your marketplace account.
- Go to payment or withdrawal settings.
- Choose Payoneer as your payment option.
- Complete the on-screen instructions to connect your Payoneer account.
After connecting, you can receive payouts according to your account settings.
Step 4: Global Payment Service (For Direct Clients)
If you’re dealing with direct clients (not on platforms), the Global Payment Service is your go-to option.
- Log in to your Payoneer account.
- Go to “Receive” > “Global Payment Service”.
- Select the currency/account (i.e., USD).
- You’ll find your virtual bank information (Routing number, Account number, Bank name, etc.).
Provide these to your client or business.
For instance, if a company in the U.S. owes you $500, they can pay you via your USD virtual account, and the payment will be received in your Payoneer account as a local transfer.
Step 5: Request a Payment (If You’re Not on a Platform)
If you do not have a marketplace account, utilize Payoneer’s “Request a Payment” feature:
Navigate to “Receive” > “Request a Payment”.
Enter the client’s name, email, and invoice amount.
Include service description and due date.
Click “Send”.
The client receives an email with a secure payment link. After payment, the money will be credited to your Payoneer account.
How Long Does It Take to Receive Money on Payoneer?
From Marketplaces (such as Fiverr/Upwork): Typically within 24–48 hours of processing.
From Bank Transfers (Global Payment Service): It takes 1–3 business days, depending on the location of the sender.
Credit Card Payments (through payment request): May take 1–5 days, because checks are performed by credit card processors.
How Will I Know the Money Arrived?
You will get a notification email from Payoneer when funds reach your account. You may also view your balance and transaction history by logging into your dashboard or the Payoneer mobile app.
What to Do After Receiving Funds
After receiving funds:
Withdraw to Local Bank
Navigate to “Withdraw” > “To Bank Account”
Enter amount and choose your local bank.
Transfers would typically take 1–3 business days to complete.
Use Payoneer MasterCard (If You Have One)
Withdraw money from ATMs.
Shop online or in-store.
Monitor your spending through the app.
Hold Funds in Payoneer
You can have multiple currencies in your Payoneer account.
Convenient if you do not wish to convert currency or save for future costs.
Charges to Consider
- Payoneer is easy, but it does not come at no cost. Here is a brief overview of charges:
- Service Fee (Approximate)
- Receiving USD through Global Payment Free (some sources incur 1% fee)
- Receiving through credit card 3%
- Withdraw to local bank $1.50–$3 (or 2% currency conversion)
- ATM Withdrawal (with card) $3.15 per transaction
- Annual Card Maintenance $29.95
Always check the latest fees from your account dashboard, as they vary by region and currency.
Common Issues First-Time Users Face (and How to Solve Them)
❌ Account Not Verified
Make sure your submitted documents are clear, valid, and match your registration details.
❌ Client Payment Declined
Some clients might need to verify your virtual bank details.
Tell them to verify with their bank if the payment fails.
❌ Delayed Payment
See if payment is being held for verification.
You can also seek assistance from Payoneer support.
