Payoneer: Payments for Freelancers & SMEs


Payoneer is a global payment service that allows freelancers, professionals and e-commerce businesses to pay and get paid online. It is widely used by a lot of freelancers in Nigeria and beyond, to accept payments from their online gigs. Popular freelance marketplaces that payout through the financial service provider include Fiverr, Envato, Airbnb, Upwork etc.

Can I withdraw from Payoneer in Nigeria?

Yes. The financial company issues prepaid MasterCard debit cards that can be used to withdraw from any of the dozens of thousands of Automated Teller Machines (ATMs) that are on the international Mastercard network across Nigeria. Another option is bank withdrawal that allows payouts to your bank account in Nigeria. You cannot combine both options.

How can I check my Payoneer account in Nigeria?

You need to login to the Dashboard from their website to check your balance and recent transactions.

Can I withdraw money from Payoneer?

Yes. You can EITHER withdraw using the MasterCard debit card or to your local bank account. They do not support both methods on the same account simultaneously.Payoneer Card

Is Payoneer safe?

It is safe to the extent that it is closely regulated in the United States and the European Union. As of August 2019, Payoneer Inc. is regulated in the United States as a registered Money Services Business with FinCEN and as a licensed money transmitter in various U.S. states. Payoneer (EU) Limited is a regulated E-Money Institution, licensed by the Financial Services Commission (FSC), Gibraltar, under the Financial Services (Electronic Money) Regulations 2011 and the Financial Services (Banking) Act 1992.

It is also registered in Hong Kong, Japan, Australia and Canada.

Is Payoneer account free?

The account is free to open but there are fees for receiving, sending and withdrawing funds.

Is Payoneer better than PayPal?

This is relative. They are not exactly the same. The features they offer in each country varies. Their usefulness would, therefore, vary par use-case and location.

Are PayPal and Payoneer same?

They are very different and have little in common aside from being licenced money transmission services.

How does Payoneer make money?

They make money from the fees on all the financial transactions that go through their platform.

What bank does Payoneer use?

They use various financial institutions across the world.

– Meta Bank (USA) for MasterCard prepaid debit cards
– Induslnd Bank for local compliance in India

67 Comments on “Payoneer: Payments for Freelancers & SMEs”

      1. Can I pay someone through my payoneer? That is transferring money from my payoneer to someone’s local bank that’s in Nigeria?

  1. Please I have a payooner card which Nigeria site can I use my atm card on to perform transaction I tried opay and quickteller they didn’t accept the card

    1. It may not work on OPay or QuickTeller. Those are designed for local Nigerian cards only. You can make use of your Payoneer card at an ATM or Merchants that accept international Mastercard cards.

  2. Please I just created a payoneer account to receive payments and I entered my account details for bank withdrawal. I’m in Nigeria, and the bank options were listed and I looked out for Zenith bank plc but what I saw was Zenith international bank plc, I would like to know if that’s the same as the Zenith Bank plc we have here in Nigeria.

  3. Hello.
    I receive subscription payments through Will it be all right to instruct to send my payouts to Payoneer, if I open an account?
    If the answer is Yes, I will be obliged to get guidance on the specific Payoneer account to open.
    Thank you.

  4. Please I just created a payoneer account to receive payments and I entered my account details for bank withdrawal. I’m in Nigeria, and the bank options were listed and I looked out for Zenith bank plc but what I saw was Zenith international bank plc, I would like to know if that’s the same as the Zenith Bank plc we have here in Nigeria.

    1. Please as a new customer, can i make my first withdraw from my payoneer account when my the amount in my payoneer account is not up to $5,000

  5. hello, can i upgrade my payoneer account? like i could change from going to the bank to withdraw to using the debit card instead?

      1. Payoneer does not allow NGN only USD and others foreign currency, if we receive money in USD ,say it we convert it to naira to the nigeria bank for the owner

  6. I want to find out payoneer office address here in Nigeria and they can I withdraw dollar cash here in Nigeria does access bank support payoneer

  7. Pls someone wants to make payment to me using payoneer. Payoneer asked that I verify my identity and my business profile. I registered as an individual not as a business. I don’t have a website. Pls how do I go about it

  8. I have tried several times to open a payoneer account with different emails but the accounts seems to be blocked or restricted. I have also contacted thier support team they only tell to for 30 minutes and log back in but it’s the same.. how do I go about it for them to approve my account..I am a Nigerian living in Nigeria.

  9. Hello,
    Thank you for your insights. Please, I have tried many times to register payoneer but always being declined.

    What could be responsible, pls.

  10. Please to verify my Payoneer account must my id address tally with my home address….what if my new address is different from the one on my id would Payoneer accept it???

  11. Please to withdraw my money into my Nigeria account I decided to add a bank account for withdrawal. I was asked to select my bank account currency. There I have NGN USD EUR. Knowing that I am using a Nigerian account, which one should I go for?

  12. Payoneer should please ask what is obtainable as National ID (NIN) before disapproving someone’s verification. You can’t just keep my payments pending after sending my National ID. You’re saying it’s not it, are you in Nigeria, ? Even if you’re not here, ask questions. Do proper findings. You can’t just hold someone’s money like that. You need to ask what is used here.

  13. Can I withdraw from my payooneer account to my bank account while the verification process is still in review?. And how long does I take for the verification process to be confirmed.

  14. I can’t find where to activate global payment services to get a US account number to collect from payment from Amazon kindle.
    I signed up as an individual trying to receive payment from international customers.
    kindly help. I have two other people with the same problem.

  15. Nice post. I have been using fundxswitch to convert my painter funds to naira for about 3 months now. This post is very educational. I will consider trying you guys out even though fundxswitch has offered the best so far.

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