Payoneer
5.9/10Cross-border payments platform that gives freelancers, marketplace sellers and SMBs multi-currency receiving accounts, payment requests, supplier payouts and Mastercard business cards.
Data last updated November 2026 · Our methodology
Overview
Payoneer is a Nasdaq-listed payments company, founded in 2005, that runs a multi-currency business account used in more than 190 countries and territories. Businesses get local receiving details in USD, EUR, GBP, AUD, CAD and JPY. Payouts from Amazon, Upwork, Fiverr, Airbnb and about 2,000 other marketplaces arrive in the account automatically. Customers can send clients payment requests with an attached invoice, either built in Payoneer or uploaded, and clients can pay by card, ACH debit, bank transfer, PayPal or their own Payoneer balance. Businesses can also pay suppliers in single or batch payments, issue physical and virtual Mastercard cards with daily or monthly limits, and set team budgets. A contributor role lets staff prepare payments that the account owner then approves. Pricing is per transaction with no monthly plan. Card payments cost up to 3.99% plus 0.49 USD, ACH debit 1%, conversion between balances 0.5%, and local withdrawals 1.50 USD. There is a 29.95 USD annual account fee if the account receives under 6,000 USD in 12 months, and a separate 29.95 USD annual fee for the card. Free integrations send each currency balance as its own bank feed to QuickBooks, Xero, NetSuite and Zoho Books, and a mass payout API serves platforms. It suits freelancers, agencies and e-commerce sellers paid from abroad. It is not accounting software: there is no ledger or reporting, and receipt capture is not covered. The biggest drawback is reputational. Reviewers on G2, NerdWallet and Merchant Maverick report frozen funds, sudden account closures and slow support.
Our Rating
Who Payoneer is best for
Best software for E-commerceGood fit
Connects to Amazon and more than 2,000 marketplaces, and offers working capital advances to eligible sellers.
Local receiving accounts, marketplace payouts from Upwork and Fiverr, and payment requests are built for individuals paid by clients abroad.
Payment requests with invoices and multi-currency collection fit agencies with international clients, though card collection fees are high.
Less suited
- Remote Teams6/10
Batch payouts to 190+ countries, and the separate Workforce Management EOR product, support paying distributed contractors and staff.
Covers cross-border receiving, supplier payments and cards, but lacks domestic banking features such as direct debits and overdrafts.
Approval controls are basic and reviewers note there are no team spending controls or forecasting tools for larger finance operations.
Pros & Cons
Pros
- Local receiving details in six major currencies let foreign clients and marketplaces pay you as a domestic payee.
- Direct payout integrations with Amazon, Upwork, Fiverr, Airbnb and about 2,000 other platforms mean seller and freelancer earnings land automatically.
- Clients can pay a payment request by card, ACH, bank transfer or PayPal without opening a Payoneer account, and they get automatic reminders on the due date and seven days later.
- Free per-currency bank feeds to QuickBooks, Xero, NetSuite and Zoho Books cut down manual reconciliation.
- Security credentials include PCI DSS Level 1, SOC 1 Type II and SOC 2 Type II assessments, and two-step verification is mandatory.
- No monthly fee or contract, and Merchant Maverick notes there is no early termination fee.
Cons
- Many users report frozen funds, held payments and abrupt account closures, and Trustpilot blocked Payoneer's rating over a fake-review guidelines breach.
- Card collection fees of up to 3.99% plus 0.49 USD, and conversion fees of 1.2% to 4% on withdrawals, are higher than those of FX specialists such as Wise.
- Support is criticised for slow handling of complex cases, and businessexpert notes there is no UK phone line.
- It is not an accounting system: there is no ledger, financial statements, receipt capture, or budgeting and forecasting tools.
- Low-volume accounts pay a 29.95 USD annual fee, and the first card has its own 29.95 USD annual fee.
- Balances are not FSCS-protected in the UK, and there are no overdrafts, cash deposits or domestic direct debits.
Key Features
Not included
- Budgeting and Forecasting
- Inventory Accounting
- General Ledger
Payoneer Pricing
Payoneer Account
- Free transfers between Payoneer balances
- No setup or monthly fee; charges are per transaction
- Supports 70+ currencies and 190+ countries and territories
- Local receiving accounts in USD, EUR, GBP, AUD, CAD and JPY
- Payment requests with invoice builder and automatic reminders
- Batch and recurring supplier payments with contributor approval role
- QuickBooks, Xero, NetSuite and Zoho Books sync included at no extra charge
- 29.95 USD annual account fee if under 6,000 USD received in 12 consecutive months
Frequently Asked Questions
No. It has no monthly plan and charges per transaction. The one account-level charge is a 29.95 USD annual fee for accounts that receive less than 6,000 USD over 12 consecutive months.
Yes. Payment requests can include an invoice built in Payoneer, with amount, local taxes, currency and payment terms, or one you upload. Clients pay by card, ACH debit, bank transfer, PayPal or Payoneer balance, and they get automatic reminders on the due date and seven days later.
QuickBooks, Xero, NetSuite and Zoho Books, at no extra charge. Each currency balance syncs as a separate bank feed, and most transactions appear within 24 hours. Only transactions from the start date you pick during setup are imported.
The physical Mastercard has a 29.95 USD annual fee, and additional virtual cards are free. Purchases with currency conversion cost up to 3.5%. Purchases without conversion cost up to 1.8%, and are free when the merchant is in the card's issuing country.
Payoneer says it is PCI DSS Level 1 certified and has independent SOC 1 Type II and SOC 2 Type II assessments. Two-step verification is required to log in. It holds payment licences in the jurisdictions where it operates, including FCA authorisation in the UK, where client funds are kept in segregated accounts.
Not within the core account. Payoneer sells a separate Workforce Management product, which came from its 2024 acquisition of Skuad, with Employer of Record services starting at 199 USD per employee per month. Pricing varies by country.
Payoneer advertises phone, live chat, email and WhatsApp support and a knowledge base. Reviewers rate the self-service resources well, but report slow handling of complex cases such as account holds.
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