Payoneer Prepaid Debit Mastercard Review

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Payoneer Review

In the modern world, business professionals and everyday users need to transfer money and require the use of online banking services. I will go through its pros and cons, its differences to other services and also its various charges. This will be a comprehensive Payoneer review to see if this prepaid debit Mastercard is the right card for you.

Payoneer Features

Feature

Cost

Signup Bonus

$25

Annual Fee

$30

ATM Withdrawal Fee

$3

ATM Balance Enquiry

$1

Replacement Card

$12.95

Maximum Transfer

$1000

Year Founded

2005

Payoneer History

Payoneer is a global payment company which was founded back in 2005 by Yuval Tal and various other investors worldwide. It was set up as cost effective payment solution to be used by business and regular citizens alike. It is now utilised in over two hundred countries, with many high end businesses using its services. These include companies such as Amazon, Dailymotion, Google and Airbnb. Payoneer was designed to be used as an online transaction service like other popular sites such as Paypal. They also give customers the use of a Master card and Debit card for ease of use.

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$25 FREE

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Services

Payoneer, as described earlier, is an online service for money transfers, however there are several options to receive payments which make their service slightly more unique than other companies. These methods include:

  • Deposits to banks worldwide
  • Wire transfers
  • Local currency
  • Transferred to Payoneer card

Using Payoneer is like having your own International Bank account, with your own personal identification account. Transferring money between different Payoneer accounts is extremely easy to complete online and also free of charge. This is quite a unique feature as many other banking systems charge a minimal amount for this type of service.

How to Use?

There are various ways in which to use the Payoneer service which will be outlined in more detail here.

You can receive credit/debit card payments from anyone in the world however there is a small charge for this. The maximum payment allowed in a single transaction is $1000.

Anyone is able to withdraw money from their Paynoeer account in their own currency, wherever they are in the world. There are more than one million machines across the world where you can use your Payoneer cards to withdraw money. The ease of using this service is a huge benefit to many users, however there is a charge for each withdrawal, roughly around $3.

Spending money has never been easy. Using a Payoneer card has all the benefits of using any other banking card, either online or in high street stores. Using the debit card in stores is an excellent service as you cannot spend more money than you have in your account. This is an added bonus for many people who struggle with debt.

The service also allows you to transfer money from your Payoneer account to your local bank account. Many banks charge high rates for these transfers, however Payoneer charges considerably less.

There is also a mobile app available which is multi-lingual and makes account management incredibly easy. In the modern age where millions of people worldwide have smartphones in their pockets at all times, this app is a welcome bonus for anyone managing money.

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$25 FREE

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Day to Day Use

Having a Mastercard is a top priority for businesses, whether this being a small company or a multi-national company. Having the benefits of a Mastercard is useful even in personal situations for millions of people. The Payoneer websites states that using their Mastercard will transform the way you make payouts, a strong claim that needs to be backed up. Using the Mastercard is an extremely easy way to withdraw and spend money no matter when in the world you are. Payoneer currently holds four different plans for those wishing to apply for a card.

Personal account: Easy to sign up and use of the Payoneer online transactions as long as the customer is over eighteen.

Small business plan: for those in the world that currently pays out each month less than $10K. Currently with this plan, you are able to pay your vendors abroad via local bank transfers, e-Check or credit card payments.

Emerging business: The slightly larger plan for companies paying out more than $10K each month. With this plan businesses are able to scale globally with Payoneers cross border Mass Payout platform.

Enterprise: For companies that are paying out $100K or more each month, the enterprise plan might be for you. This plan includes the cross border Mass Payout platform but also includes Value Added Services.

For businesses, on the various plans, there is the option for the mass payout account. This plan allows larger companies to make cross border payments to a large number of beneficiaries in over 200 countries and 150 currencies. Companies which payout more than $10K per month are eligible for this service. However there are certain businesses which cannot commit to these plans, these are:

  • Online game
  • Non-profit organisations
  • Virtual currency and goods
  • Pharmaceuticals
  • Sale of gems
  • FOREX trading
  • Remittance payments
  • Interest payments/loans

The benefits for using the Payoneer Mastercard are just the same as using any other credit card from your local bank. The added advantage is the worldwide and business appeal that Payoneer gives to its clients. No charges for transactions between Payoneer accounts and an excellent Mass Payout system makes the Mastercard a great prospect.

How to Use the Payoneer Debit Card

The Payoneer Debit card is exactly like using a debit card from most banks around the world. Withdrawals from over a million ATMs worldwide make using your money as easy as possible. You can use your debit card in any brick and mortar store using your personal pin which adds for increased security. The benefit of using this debit card is you won't be able to spend more money than is currently in your account. For those who are constantly in their overdraft, this may be a good card for you as it limits the amount you can spend.

PAYNONEER SIGNUP
$25 FREE

CHECK OUT THIS AMAZING OFFER. SIGNUP TO PAYONEER AND GET $25 LOADED ON TO YOUR CARD

Payoneer Ambassador Program

The ambassador program is Payoneers way to connect deeper to its worldwide clients by creating a forum where information can be shared across dozens of cities. This is a way for various clients to connect, make networking opportunities and listen to ideas generated by other customers. Payoneer carefully selects industry leaders from business owners, freelancers, marketers and mentors. These are offered the chance to become Ambassadors in in order to attend the forums.