How do Payoneer bank transfer payments work?
Thread poster: Frances Nichol

Frances Nichol  Identity Verified
Local time: 07:34
Member (2016)
Chinese to English
Aug 24, 2017

I have a potential client who wants to pay through Payoneer. The whole thing looks complicated and there are a lot of fees. The Mastercard option does not look good. The bank transfer option could work, but I want to clarify fees.

Has anyone received payment to their bank from Payoneer? Does it work like an international transfer (albeit in your own currency), or like a domestic transfer?

Specifically, anyone with experience in Canada - did you get charged international wire fees?

I called Payoneer to ask and they said it is an international wire. But when why on earth does anyone need to use Payoneer, when they could just transfer directly to me?

Would like to hear about anyone's experiences.



Jean Dimitriadis  Identity Verified
Local time: 13:34
Member (2015)
English to French
+ ...
Payoneer Aug 24, 2017

Hello Frances,

I have been using Payoneer with one client, but not from Canada.

After getting paid on my USD balance (the default currency set in my Payoneer account), I have withdrawn a few amounts to my EUR bank account. Although I usually get charged for international bank transfers, there was no such applied fee by my bank, only the amount resulting after the currency conversion by Payoneer ( No other visible charge applied either. My client is part of the Global Payment Service -

If it wasn’t so confusing to set up, I think Payoneer would make a good alternative to PayPal, especially for getting paid in another main currency.

I do not have experience with same currency payments though, and I’m not sure if one can be paid directly in CAD.

Fees are found here:



Frances Nichol  Identity Verified
Local time: 07:34
Member (2016)
Chinese to English
Thanks for the info! Aug 25, 2017

I might try it and see if it works as a local transfer to me too. Paypal does, so hopefully Payoneer does. Thanks for the reply!


Peter Close  Identity Verified
United Kingdom
Member (2012)
Greek to English
Payoneer Sep 13, 2017

Hello Frances,
I have been using Payoneer for over six years and I have had very few problems with them. The only problems I ever had were in their early stages when their support services were very inadequate. The problem was (and still appears to be) that their client base seems to be expanding far more quickly than they can train and employ suitable support staff.
The secret to satisfaction here is not to rely on or use their e-mail support services at all, but to buy a good Skype headset and always call their telephone support services at off-peak hours (preferably in the early morning). If you do that, the telephone calls will cost you next to nothing and any problem you may experience will be sorted out immediately and extremely efficiently.
I now receive over 85% of my translation income through the Payoneer Global Payment System and regularly receive payments in US$, Euros and GBP (practically every week). Their services cost a lot less than PayPal’s and their bank transfer charges are far, far cheaper than bank transfer costs – and the transfers usually come through much more quickly.
I have now introduced other Proz colleagues to Payoneer and they are as equally satisfied with their services as I am.
If you decide to give them a try and ever need any help or advice, please feel free to contact me through Proz and I will do my best to help you as fast as I can.


Naomi Long  Identity Verified
United Kingdom
Local time: 12:34
Member (2014)
+ ...
Payoneer is so much easier and practically no fees! Sep 15, 2017

I only just set up Payoneer and it's amazing! It was very easy, my client offered Payoneer or Paypal as a payment option, and I had been previously using Paypal but was shocked at the fees. I set up Payoneer very easily and linked my client to them (no more difficult than Paypal in fact). The payment from my client was paid to Payoneer who immediately transferred it to my bank account.

Exact figures for Paypal vs Payoneer transfer fees:

I had a payment from a client of around 5,000 GBP yesterday and for the first time used Payoneer. For an amount of 5,000 GBP, I used to lose 145 to 170 GBP to Paypal depending on whether I got the preferential rate, but with Payoneer this time I only had a 1.00 GBP transfer fee! So you can see why I am posting this, as Payoneer is clearly much better for freelancers in my experience so far.

This is because, probably like many of you, I get paid directly by bank transfers by a lot of clients, and only receive Paypal payments from one client where the volume is variable, so I'm usually unlikely to hit the higher thresholds for lower fees*, so I was nearly always paying 3.4% to 2.9% (which is quite a bit of money when you work it out over the year) - also because Paypal base their fees on a monthly rate so it's not like you would be able to save by waiting to cash a higher amount because you need to be hitting that threshold per month via Paypal or it reverts. As a sole trader who doesn't receive all their income via Paypal/Payoneer and is working alone at present and not as a company or an online shop who might be receiving larger amounts per month, Paypal really doesn't work in my favour, (when you look at the fees, you would have to make over 72,000GBP a year as a translator to bring the fees down even to 2.4%!) so once again, I would really recommend if you are in my position to swap to Payoneer payments if you can't get bank transfers from your clients. I'm not having a go at Paypal at all, I always make online purchases via Paypal usually, but when it comes to my job, I just think it is really set up more for online retail than it is for freelance translators.

*Paypal on their UK fees:
You can apply for Merchant Rate pricing if you’ve processed more than £1,500 in total payments through PayPal in the previous calendar month and your account is in good standing (not currently under investigation). We will look at your total payments processed to determine your merchant rate on a monthly basis.

Your monthly sales Transaction fee
Up to £1,500 3.4% + 20p
£1,500.01 - £6,000.00 2.9% + 20p
£6,000.01 - £15,000.00 2.4% + 20p
£15,000.01 - £55,000.00 1.9% + 20p


Lorenzo Lilli  Identity Verified
Local time: 13:34
German to Italian
+ ...
Payoneer vs Paypal in the euro area Jun 19

Hi everybody,
a question to those of you who are familiar with Payoneer for payments inside the euro area: is it really so much cheaper than Paypal if there's no currency exchange involved? That is, just 1.50 € to withdraw money on a bank account in EUR (not on a credit card)? Or am I missing something, e.g. other fees etc.? It sounds too good to be trueicon_smile.gif
Many thanks in advance


sheedal (X)
Payoneer does charge you a lot on ATM Transaction Aug 8

Lorenzo Lilli wrote:

Hi everybody,
a question to those of you who are familiar with Payoneer for payments inside the euro area: is it really so much cheaper than Paypal if there's no currency exchange involved? That is, just 1.50 € to withdraw money on a bank account in EUR (not on a credit card)? Or am I missing something, e.g. other fees etc.? It sounds too good to be trueicon_smile.gif
Many thanks in advance

When withdrawing payment through Payoneer ATM, the maximum withdrawal per transaction is $200 while the fee for this one transaction is $7 which is very High Fee but yeah I do appreciate their Banking Transfer option which further reduce the Fee so you can easily transfer & receive payment from your Payoneer Account through a Local Bank Account.


Rita Pang  Identity Verified
Local time: 07:34
Member (2011)
Chinese to English
+ ...

Moderator of this forum
In my scenario Aug 8

...Payoneer didn't charge any fees for the actual transfer into my bank account, so they made a good chunk of money off of the conversion rates. It was still OK, however, the bank I used charges a fee for receiving ANY kind of transfer outside their bank (even if local). Therefore, other than Payoneer's currency conversion fee structure, check with your local bank to see if you will be charged for receiving money.


Denise Hilton
United States
New user
Payoneer bank account Sep 3

The process is very simple really. If you wan to link your Bank account with Payoneer so that your can get your freelance payments directly to your bank account then it's very simple. You can add your bank account thorough your Payoneer dashboard. It will need verification and once it's done you can easily withdraw your earnings directly to your bank account. Here's a guide that might help you along the way:


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How do Payoneer bank transfer payments work?

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