Payoneer Cross-borders Payments Review

Payoneer has facilitated cross-border payments for small businesses, freelancers, and online businesses for the last two decades. Its wide range of services makes it easy for UK-based businesses to send and receive international payments.

In this article, we will cover everything you need to know about Payoneer, from its various cross-border payment services to its fees. Additionally, this article will explore other Payoneer alternatives, including Wise Business – an efficient global payment platform that streamlines international payments by offering fast, low-cost transfers and multi-currency accounts.

💡 Learn more about Wise Business

Payoneer cross-border payouts - quick overview

Payoneer is a payment solution that enables small businesses and freelancers to easily send and receive cross-border payments worldwide.

As a business owner, Payoneer allows you to expand your business to reach new markets, manage multiple foreign currency accounts, partners, and suppliers inside or outside of the UK.

This global payment solution offers a wide range of services, such as a virtual local bank account in multiple currencies for receiving and sending payments and a prepaid debit card to pay your business expenses.

Here’s a quick rundown of all the services Payoneer provides to its users:

Payoneer cross-border payments: key services

Here are some of the key services that Payoneer offers to its users:

• Global payments solutions: Payoneer makes cross-border payments seamless for freelancers, entrepreneurs, and small businesses. It supports more than 70 currencies and it’s available in over 190 countries and territories².

• Local receiving accounts: Payoneer gives you access to virtual bank accounts in different currencies that work just like local bank accounts. Users can receive payments in 9 currencies³, such as:

• US Dollar

• British Pound

• Euro

• Australian Dollar

• Canadian Dollar

• Japanese Yen

• Hong Kong Dollar

• Singapore Dollar

• United Arab Emirates Dirham

Receiving payments with these accounts means your customers can pay you in their local currency, allowing you to cut international fees.

• Invoicing and payment requests: There’s a built-in free invoice builder⁴ that lets your accounts receivable team create, issue, and request payment from clients. Your clients can pay through credit card, local bank transfers, or using a Payoneer account. Your accounts receivable (AR) team can also track payments with Payoneer and send out reminders.
• Prepaid Mastercard: Payoneer provides a prepaid Mastercard (physical or virtual) available in USD, EUR, GBP, and CAD. Payoneer cards are not multi-currency though, you need to order one card to spend in each currency. You can use this card to withdraw cash from an ATM, make purchases online, and fund your business expenses.⁵
• Multi-currency account management: Payoneer allows you to hold different balances with multiple currencies and transfer money from your balance to the currencies that you need.⁶
• Batch payments: Payoneer lets you save time and batch up to 1000 transactions at a time in multiple currencies.⁷

Payoneer cross-border payments fee

Below is a detailed breakdown of Payoneer fees:

Payoneer customer service

Payoneer offers various ways for its customers to receive support. You can contact Payoneer customer service through:

• Letter
• Phone
• Email
• Chat
• Fax
• ‘Contact Us’ form
• Support center

Payoneer tries to resolve customers' complaints within 3 business days of receiving them.

Discover Wise Business - an alternative to Payoneer

Wise Business provides a cost-effective alternative for small businesses, freelancers, and online sellers looking to send, receive, and hold multiple currencies.

Wise Business gives you access to:

• Cost-effective international payments: Pay vendors and bill internationally for fewer fees than the bank.
• Global Account: Send money internationally and hold multiple currencies. Additionally, get local receiving accounts for a one-off fee to receive overseas payments like a local.
• Mid-market rate: Get the mid-market exchange rate with no hidden fees on international transfers and currency conversion.
• Seamless cash management: Manage intercompany payments, track your team’s expenses, and manage your team’s access to your Wise Business account.
• Wise Business card: Get a multi-currency debit card that allows you to pay for your business expenses almost anywhere in the world. With this card, you can spend in 40+ currencies. Getting the Wise debit card costs 3 GBP, and there are no recurring fees on your card.
• Batch Transfer: Pay up to 1000 invoices with just one click.
• No dormancy fee: No annual dormancy fee in case your account is inactive for a while.

Get started with Wise Business 🚀

FAQs - cross-border payouts Payoneer

How does Payoneer facilitate cross-border payouts?

Payoneer provides receiving accounts in multiple currencies. This allows you to receive payments internationally as if you had a local bank account. Payoneer supports receiving payments via local bank transfers, credit card, and wire transfers (domestic & international).

What currencies and countries does Payoneer support?

Payoneer supports currencies such as the US Dollar, British Pound, Euro, Australian Dollar, Canadian Dollar, Japanese Yen, Hong Kong Dollar, Singapore Dollar, and United Arab Emirates Dirham.

How long does it typically take for a payment to appear in your Payoneer account?

Local transfers typically take 1 to 3 business days to reach your Payoneer account. Similarly, wire transfers via SWIFT usually take 1 to 3 business days to be credited to your account.

Sources used in this article:

Sources last checked on 08-May 2025.