Pick what you’re interested in
If you have worked in the IT sector for quite some time, Payoneer is probably old news for you. However if you are not familiar with the system, we got your back.
Payoneer is a well-known American company, that specialises in providing digital payment and online money transfer services.
To sum it up, if you got yourself a Payoneer account, you can:
- receive payments from Western companies and customers;
- withdraw funds from all sorts of popular freelance marketplaces;
- make purchases in online stores,
- keep your money in foreign currency and withdraw it at ATMs around the world.
Using Payoneer to receive money
As we said, Payoneer is extremely popular among freelancers these days. The main reason for that is that Payoneer is one of the most convenient and affordable ways to accept payments from International clients (including those from the States).
Due a number of reasons (including political ones) it’s been gaining popularity in Eastern European countries as well as in emerging markets.
It is usually considered to be an alternative to PayPal. Especially taking into account, that PayPal has limited functionality in some regions.
Although both services have heir pros and cons, and you should choose whichever suits you better.
What if you don’t provide services to companies and receive money through various marketplaces?
Well you can link your Payoneer account to your favourite UpWork account as well as other popular services, such as: Airbnb, Amazon, DailyMotion and so on.
Prefer using cash? You can withdraw your Payoneer funds at various cash-points around the world.
Using Payoneer for online shopping
Payoneer may be a good alternative for anyone who frequently shops online. You can use your Payoneer card the same way you use your traditional debit or credit card issued by your local bank.
You can use it to pay for goods on Amazon, Ebay, aliexpress, again as an alternative to widely accepted PayPal.
Depending on the store you are shopping at you can pay for your purchases in USD (for instance if youre a big of amazon.com) or you can use your EUR debit card to pay in euro, while shopping at amazon.de.
All up to you. No currency conversion needed. Scroll down, and you fill find some more information on Payoneer’s Mastercard solution.
Okay, so you moved to Poland and want know, how to set up your Payoneer account. Without further ado, let’s get to business.
How to set up a Payoneer account in Poland
First we need to register. You can do it by using either of the links we provided below.
- For English: payoneer.com — press Sign Up.
- For Russian: payoneer.com — press Зарегистрируйтесь.
Если вы предпочитаете изменить язык, это можно будет позднее.
If you prefer a different language, than the ones we specified above, no worries, you can change it later. However we will be using English in this article for obvious reasons.
Once you have finished filling in your personal and contact data, as well as security information and such, you will proced to the last step of verification.
Payoneer uses your personal bank account as a mean to verify your identity. So you will have to provide your bank account number.
If you currently reside in Poland, any local bank account opened in your name will do.
Do you have to use the same bank account if you want to withdraw your Payoneer funds? Well, no.If you are not a big fan of transferring funds to your local banks, there’s an alternative.
You can always transfer money to a different Payoneer account or you can withdraw them at your local ATM, using the Payoneer Prepaid Mastercard debit card.
In the future, should you change your mind, you can always change the bank details associated with your Payoneer account.
Once the verification is over, you are free to use your Payoneer account.
Important: please make sure you are using the same personal data you used for setting up your bank account. Otherwise it may cause some problems during the verification process.
Withdrawing and receiving money. Fees
Receiving money from a different Payoneer account is always free. Transferring funds the same way as well.
Furthermore you can use the Global Payment Service, and you will be given a local account details in EUR, GBP, USD and a number of other currencies. From your client’s perspecitve it’s like making a wire transfer to any local bank account.
It can be done by pressing Receive —> Global Payment Service.
Are there any hidden fees? No, you can check the Payoneer’s current fees directly at their website.
For most foreign currencies (EUR, GBP, JPY, AUD, CAD) — fees do not apply at all, so those are free. The only exception being USD, where the current fee is set at 0~1%.
However, you shouldn’t forget, that we are talking about Payoneer fees only. If you are withdrawing your earned money from various marketplaces and paltforms, for instance UpWork or Amazon, the fees may differ.
As you understand, those are different companies and they are free to apply their own set of fees. Make sure you familarise yourself with the precise rates, as feet set by each marketplace or network may vary.
We would recommned taking a look at those services’ FAQ sections, they usually provide detailed descriptions regarding withdrawing money to your Payoneer account. (UpWork или Airbnb.) They may be subject to change.
Now what about withdrawal?
If you reside in Poland we can safely assume you Polish bank account is registered in PLN. It means that Payoneer will used the mid market currency rate and apply a currency conversion charge of 2%. That’s it.
You will have a chance to look at the fees being applied, before you make the withdrawal.
You can withdraw money from your Payoner account by clicking Withdraw —> To Bank Account.
We would recommend taking a look at your current bank’s fees and commissions. Some banks may apply processing or landing fees, that will be deducted from the withdrawn amount. Make sure that those are acceptable.
Please remember, that you can withdraw funds from your Payoneer currency balance in USD to a bank account registered in USD, while you’re in Poland, as USD is not the official currency.
Payoneer Prepaid Mastercard
We know, that some prefer to keep their money in cash. If you are looking for a way to withdraw the money from your Payoneer account from an ATM, you should order a Payoneer Prepaid Mastercard debit card.
The annual fee for your Payoneer Mastercard debit card is $29.95.
Please remember, that for each currency balance account you can have one currency account. You cannot use one debit card for two currency balance accounts.
You can order a card by clicking on the Order Card, after which you will need to choose the currency balance you want to attach your card to.
Like we mentioned, having a USD debit card is a good solution if we are frequent amazon.com shoppers (or any other website, that uses USD).
At the same, if you currently live in Poland, we wouldn’t recommend using your USD debit card to pay for services on local platforms such as Allegro, or international subscription-based services (Netflix, Spotify или Apple Music), as their fees are usually in PLN only.
Do not forget that almost all transactions in Poland are carried out in Polish Złotys (PLN), you may lose quite a bit of money on conversion fees. Payoneer will take up to 3,5%, and the Mastercard rate will be used for currency conversion.
It will be much more convenient to get a PLN debit card issued by your local bank, those are free, and additional fees are rarely applied.
One thing we should mention, that you can withdraw EUR at ATMs located in the European Union only. However if you are a Polish resident, it shouldn’t be a problem.
Setting up a Payoneer account for your company
If you are interested in registering a Payoneer account for your company, you can do it by visiting one of the links below:
- For English: Payoneer.com — press Sign Up.
- For Russian: Payoneer.com — press Зарегистрируйтесь.
Working with Payoneer? Looking for a way to relocate to Poland?
Write them in comments below