Does Payoneer take fees
Yes, Payoneer takes fees, and what you pay depends on how money reaches your account, whether it is converted, and how you withdraw it. Opening an account is free in most regions, and there is no monthly subscription charge.
The official Payoneer pricing page lists the current rates for each country. The main charges are:
- Payments from other Payoneer users: Money sent to you from another Payoneer customer's balance arrives free of charge.
- Local currency receiving: Funds received in a matching local currency are free, while some other currency types carry a fee of 1%, with a minimum of 1 USD or its equivalent.
- Card payments from clients: When a payer settles your invoice with a credit card, Payoneer charges up to 3.99% plus 0.49 USD or the equivalent.
- Conversion and bank withdrawal: Converting a foreign currency balance and withdrawing it to a local bank account costs up to 2% above the mid-market exchange rate.
- Annual account fee: Payoneer charges 29.95 USD a year, but waives it when your account reaches a minimum transaction volume, such as receiving 2,000 to 6,000 USD over 12 months depending on account type.
- Registration fee: Payoneer's support pages note that a 29.95 USD registration fee applies in some countries and territories, so check whether your country is one of them.
These charges can stack across a single payment, from receiving to conversion to withdrawal. Before choosing a payment method for clients, compare the receiving fee, the conversion markup and whether your yearly volume clears the annual fee threshold.