Payoneer Review [2025]: Pros, Cons & What To Use Instead

Final Verdict

Payoneer offers a strong suite of tools for freelancers, ecommerce sellers, and global businesses, especially those with a website or those using platforms like Upwork, Fiverr, Amazon, or eBay. It is packed with features that simplify international online payment collection and make payments across borders easier.

However, limited customer support, region-specific restrictions, high fees, and a lack of diverse FX tools can be significant drawbacks. Its many extra perks may also go unused by small businesses that only need simple tools. If saving on fees and FX is a priority and you need responsive service, it may be worth considering alternative options.

Key Highlights

• Hold and receive funds in over 30 currencies
• Get local bank account details in USD, EUR, GBP, and more
• Send payments to 190+ countries in 70+ currencies
• Integrated with 2,000+ platforms like Upwork, Fiverr, Amazon, Airbnb
• Access batch payments and scheduled transfers
• Order a Payoneer card for direct spending

Payoneer Account Features

Payoneer is a financial services provider and digital platform that facilitates online money transfers, digital payments, and offers a wide array of payment processing solutions. Their business account offering is a multi-currency account, designed to support freelancers and businesses. Below are the key features:

• Local Bank Account Details: Hold funds in over 30 currencies. Get local receiving accounts that function just like local bank details, allowing you to receive payments in local currencies, such as USD, GBP, EUR, CAD, SGD and more.
• Pay: Pay business partners and suppliers in over 190 countries and 70+ currencies using your Payoneer account, credit card, or specific local systems such as ACH bank debit (US only) or direct bank payments (UK only).
• Collect Payments: Request payments from clients or partners, allowing them to pay via bank transfer or credit card to your Payoneer account. Then, transfer funds from your Payoneer account to your bank account in over 190 countries and 70 currencies. You can also withdraw funds at your target exchange rate. 
• Schedule and Batch Payments: Schedule and send batch payments of up to 1,000 transactions at once.
• Marketplace Integrations: Integrated with over 2,000 marketplaces and platforms like eBay, Airbnb, Fiverr, Upwork, and more. You can also integrate Payoneer with your website.
• Reporting: Track payments and download monthly reports

You can also order a Payoneer Card—physical or virtual—in your account’s supported currencies. Powered by Mastercard®, it’s accepted globally, offers cashback, and lets you withdraw cash at ATMs. Availability depends on your region and approval. Specific region information isn’t clearly listed.

In addition to its business account product, Payoneer offers a variety of other services, including lending through Capital Advance, where you can access funds based on future projected earnings. Payoneer also provides solutions to add payment functionality to your website or checkout page, as well as marketplace payment solutions.

Payoneer Fees

Below is a summary of standard Payoneer fees. These are general estimated rates and may vary by country, currency, or account type. Your specific fees will be shown during sign-up and are always available in your Payoneer account under the Fees section.

For full details, please visit the Payoneer Pricing page.

Payoneer Customer Support

Payoneer offers multiple channels to contact the customer support team, including:

• Help center
• Query form
• Live chat and phone support are only available after signing in.

Availability of live chat and phone support may vary depending on your region. These options are accessible once you're logged in to your account, and the details are not publicly listed.

Complaint Channels

If you have a complaint, Payoneer also provides dedicated channels to address your concerns:

Email: CustomerServiceManager@Payoneer.com

Phone Numbers by Region:

• United States (Toll-Free): +1-888-290-3990
• United Kingdom: +44-204-579-3884
• Japan: +81-3-4578-1755
• Singapore: +65-3174-6520
• Australia: +61-28-379-8090
• International: +1-646-658-3113

Mail: Payoneer, 195 Broadway, 27th Floor, New York, NY 10007

Payoneer aims to resolve complaints within three business days.

Opening a Payoneer Account

Opening a Payoneer account is fully digital. Here’s a quick overview of the eligibility criteria, required information and documents, and the steps through the application process.

Eligibility Criteria and What You’ll Need

You are eligible to use Payoneer if you are over 18 and are a sole trader or have a registered business. The website does not explicitly state which countries are eligible, but the sign-up form appears to allow selection from most countries.

Payoneer does not support businesses involved in certain restricted industries, including gambling, adult entertainment, or any illegal activities.

What you’ll need:

• A government-issued ID, including a national ID, driver's license, or passport.
• Proof of address. Payoneer accepts a utility bill, bank or credit card statement.
• A bank verification document

If you're re-registering as a company, you’ll also need:

• Certificate of Registration
• Certificate of Incorporation
• Tax documents, including your EIN (Employer Identification Number)
• Business License
• Proof of business activity
• Proof of business address, such as a utility bill, a bank statement or a copy of your company verification document showing the business name and the exact address as  provided in your application

How to Apply 

1. Visit https://www.payoneer.com/accounts/
2. Select how you operate — freelancer, ecommerce seller, business, or other.
3. You will be prompted to select your monthly international payment range: less than USD 5,000, USD 5,000 - USD 10,000, or more than USD 10,000.
4. Enter your personal information, including your name, email, and address.
5. Choose your country and provide your mobile number so you can receive a verification code.
6. Complete the security details section and submit your application.

Once you've finished filling out the online form, Payoneer will review your application. They may request additional information or documents to complete the account setup. Applications are usually verified and approved within 3 business days.

Payoneer Ratings and Reviews

• Trustpilot: 3.8/5 (based on 57,887 reviews)

Payoneer holds a moderate rating on Trustpilot. Users highlight its responsive customer support, successful and quick money transfers as positives. However, some complaints include minimum withdrawal limits, increased fees, account blocked, and frozen funds.

• Apple App Store Rating: 4.8/5 (based 4.2K reviews)

Payoneer holds a strong rating on Apple App, with users finding its ease of use and secure payment process appealing. On the downside, some users mention less competitive fees, payment issues, and login problems.

• Google Play Store Rating: 4.9/5 (based 129k reviews)

Payoneer receives high ratings on Google Play. Users find it reliable for processing payments and say the user-friendly mobile app does what it’s supposed to without much hassle. However, some users feel the fees could be more competitive, and there are complaints about the payment process taking too long or the setup being difficult.

Overall, Payoneer has received almost 200,000 reviews and ratings online from clients. Based on these reviews and ratings, it seems users are quite satisfied with the mobile application, with a strong score of 4.8 from Apple App Store and 4.9 from Google Play Store respectively. 

For Trustpilot, however, the score is much lower at 3.8, which suggests there are a lot of unsatisfied customers with complaints about the account itself. 

Alternative Option To Payoneer

If Payoneer feels a bit too complex, fee-heavy, or limited in support, then Statrys might be the alternative you're looking for—especially if you're operating in Asia.

Statrys is purpose-built for SMEs, entrepreneurs, and cross-border businesses registered in Hong Kong, Singapore, and the BVI, offering simplicity, clarity, and control over international transactions.

Why choose Statrys?

• One account, 11 currencies – No need to open and manage separate wallets.
• FX rates and tools –  Choose your exchange rate based on mid-market in advance to protect your payments and margins from currency swings.
• Asia-Focused, Globally Accessible – Based in Hong Kong, with the ability to send and receive payments internationally from and to 140+ countries.
• Real support from real people –Get help via WhatsApp, Wechat email, or phone
• Statrys App  –  Manage your business finances on the go with the Statrys mobile application, available for iOS and Android.
• No minimum balance, no transaction limit, 100% online

Whether you’re paying suppliers in China, invoicing clients in Europe, or managing global payment with large currency conversions, Statrys provides visibility, flexibility, and cost-effectiveness.

Explore the key features below.