Payoneer review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Payoneer is built for businesses and freelancers who invoice across borders, holding 70 currencies and local details in iban, uk sort code and us ach for a monthly fee of $0. The trade-off is the cost of moving money: 0.5% to 4% to convert and a markup of 1.2% to 4%.
Key facts
- Best for
- Freelancers and small businesses paid in several currencies who want no monthly charge.
- Monthly fee
- $0↗
- Licence type
- E money↗
- Deposit protection
- EU DGS up to EUR 100,000↗
- Currency conversion fee
- 0.5% to 4%↗
- Currencies
- 70↗
- Local account details
- IBAN, UK-sort-code, Us-ACH↗
- Transfer fee
- 1.50 USD to a local bank account in the same country; 1.2% - 4% to a bank account in the recipient's local currency↗
- Legal entity
- Payoneer Europe Limited↗
- Headquarters
- Ireland↗
- Founded
- 2005↗
- Support channels
- Chat, Help-centre↗
- Audience
- Business, Freelancers
- Pricing model
- No monthly fee
- Official website
- payoneer.com
Money transfer
- Exchange rate markup
- 1.2% to 4%↗
- Delivery time
- Within seconds for Payoneer-to-Payoneer; external bank transfers vary by destination↗
- Payout methods
- Bank, Card, Wallet↗
- Fee to send 1,000
- $4↗
Facts checked September 26, 2026, 7 sources
Apps and profiles
- Get the app
- App StoreGoogle Play
Pros and cons
Pros
- There is no monthly charge at $0, and Payoneer ranks 1 of 500 brands on that measure.
- Clients can pay in 70 currencies, and you can hand them local details in iban, uk sort code and us ach.
- Payouts reach a bank account, card or wallet, bank, card and wallet.
- Transfers between Payoneer accounts arrive within seconds, while external bank transfers vary by destination.
Cons
- Converting currency costs 0.5% to 4% on top of an exchange rate markup of 1.2% to 4%.
- Support runs on chat and help centre only.
- It is an e money institution rather than a bank, and the deposit guarantee is EU DGS up to EUR 100,000.
Who it suits
- Businesses and freelancers, the two audiences listed in business and freelancer.
- Anyone billed in 70 currencies who wants clients given local receiving details in iban, uk sort code and us ach.
- People who want money out to a bank account, card or wallet, bank, card and wallet.
Who should look elsewhere
- Readers who want a euro-priced account: XTB lists €0 a month and AXI Card €0, so currency conversion costs decide which is cheaper for them.
- Skrill, at €0 a month, for readers comparing euro-priced accounts rather than cross-border receiving in 70 currencies.
How Payoneer compares
9.1 vs 8.7
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9.1 vs 8.0
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9.1 vs 9.0Skrill charges €0 a month, a similar holding cost for readers weighing euro-priced accounts against Payoneer's $0.
9.1 vs 8.7
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Where Payoneer is available
- Available
- Australia, British Indian Ocean Territory, Bulgaria, Canada, China, Czechia, Falkland Islands, Hong Kong, India, Ireland, Japan, Kenya, Malaysia, Mexico, New Zealand, Norway, Philippines, Poland, Romania, Saint Helena, Ascension and Tristan da Cunha, Saudi Arabia, Singapore, South Georgia and the South Sandwich Islands, South Korea, Sweden, Thailand, United Kingdom, United States, Vietnam
- Licence in Ireland
- Central Bank of Ireland (C189473), checked September 26, 2026
- Licence in United States
- FinCEN (FinCEN MSB Registration No. 31000288349183), checked September 26, 2026
- Licence in United Kingdom
- Financial Conduct Authority (966835), checked September 26, 2026
- Licence in Hong Kong
- Hong Kong Customs and Excise Department (15-10-01734), checked September 26, 2026
- Licence in Japan
- Kanto Finance Bureau (00045), checked September 26, 2026
- Licence in Australia
- Australian Securities & Investments Commission (ASIC) (504803), checked September 26, 2026
- Licence in India
- Reserve Bank of India (LO UIN No. MULO16008013), checked September 26, 2026
- Licence in Singapore
- Monetary Authority of Singapore (PS20200604), checked September 26, 2026
- Licence in Ireland
- IE_CBI (PSD_EMI IE_CBI!C189473), checked September 26, 2026, also valid in Austria, Belgium, Bulgaria, Cyprus, Czechia, Germany, Denmark, Estonia, Spain, Finland, France, Greece, Croatia, Hungary, Ireland, Iceland, Italy, Liechtenstein, Lithuania, Luxembourg, Latvia, Malta, Netherlands, Norway, Poland, Portugal, Romania, Sweden, Slovenia, Slovakia
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What does Payoneer charge to hold and move money?+
The monthly fee is $0, so holding the account costs nothing to run. Converting money costs 0.5% to 4% on top of an exchange rate markup of 1.2% to 4%. A withdrawal to a local bank account in the same country carries a flat fee, while a payment to a bank account in the recipient's own currency takes a percentage.
Is my balance protected if Payoneer gets into trouble?+
Payoneer holds an e money licence, and balances in the EU sit under deposit protection of EU DGS up to EUR 100,000. Because the account is e-money rather than a bank account, that guarantee is the limit of the cover on funds.
How many currencies can I hold and receive?+
Payoneer supports 70 currencies, and clients can be given local receiving details in iban, uk sort code and us ach. That lets an overseas client settle a domestic invoice without routing the payment through another market.
How quickly do transfers and payouts arrive?+
Payments sent between Payoneer accounts land within seconds. Transfers to an external bank account vary by destination, so timing follows the receiving bank. Money can leave for a bank account, card or wallet, bank, card and wallet.
Who is Payoneer aimed at?+
The stated audience is business and freelancer, and the account is run by Payoneer Europe Limited, based in Ireland and founded in 2005. It fits people paid by clients in other countries rather than a household that only spends locally.
How do I reach Payoneer support?+
Support runs on chat and help centre. Questions go to live chat, and the help centre covers account and fee topics in writing. Chat gives a written record of the answer, which helps when a payment needs chasing.
How does the monthly fee compare with euro-priced rivals?+
Payoneer's monthly fee of $0 is set in US dollars, while XTB lists €0, Skrill €0 and AXI Card €0 in euro. Holding costs sit in the same range, so conversion rates and payout needs decide between them.
Sources
- euclid.eba.europa.eu/register/downloads/PSDMD/20260926/do... checked September 26, 2026
Backs: Headquarters, Legal entity, Licence type, Licences
“EntityCode=IE_CBI!C189473; EntityType=PSD_EMI; ENT_NAM=Payoneer Europe Limited”
- en.wikipedia.org/wiki/Payoneer checked September 26, 2026
Backs: Founded
“Payoneer was founded in 2005 with $2 million in seed funding”
- payoneer.com/about checked September 26, 2026
Backs: Support channels
“Instant answers on chat - Access information 24/7 with our AI-powered support assistant; Get Help - Get answers fast”
- payoneer.com/legal/payoneers-multi-jurisdictional-licenses checked September 26, 2026
Backs: Deposit protection
- payoneer.com/pricing checked September 26, 2026
Backs: Audience, Currencies, Currency conversion fee, Exchange rate markup, Pricing model, Monthly fee, Payout methods, Transfer fee, Fee to send 1,000
“Business - Manage money globally; Freelancer - Get paid globally”
- payoneer.com/receiving-accounts checked September 26, 2026
Backs: Local account details
“Get credible local account details in 13 currencies USD, EUR, GBP, JPY, AUD, CAD, SGD, HKD, AED, MXN, BRL, KRW and IDR ... through local payment networks like ACH in the US or BACS in the UK”
- payoneer.com/send-payments checked September 26, 2026
Backs: Delivery time
“Payoneer-to-Payoneer transfers typically land within seconds, where applicable and as shown before confirmation.”
Compiled from 7 source pages, checked September 26, 2026. We did not open an account.
Related by the facts
Payoneer
Freelancers and small businesses paid in several currencies who want no monthly charge.