Get Payoneer payments directly to your bank account – internationally!

UPDATE: Please scroll down for the update

Hi everyone!

Several months ago, we beta-launched a new service where, instead of receiving payments to their MasterCard cards, our payees could receive their payments directly to their bank accounts.

We are very happy to say that this new service is going really well and is now open in 30 countries worldwide (listed below)! Additionally, within the next couple of weeks, we will be opening this service to the rest of the world.

The Global Bank Transfer Service costs either $5.95 or $9.95 depending on the country you live in. It is currently available for several of our partners, but new partners are adding this service every week, and hopefully everyone will soon.

If you are signing up for a new Payoneer account, when you choose Payoneer as your payment option, you will see two choices:

1) Sign up for the Payoneer MasterCard

2) Sign up for Payoneer’s Global Bank Transfer Service


Just choose your country from the the bank transfer drop down list, click continue, enter the information requested, and you’re done! Payments are sent via US direct deposit, local bank transfer, or wire transfer (depending on your country).

You can view a full list of the countries currently open for our Global Bank Transfer Service by clicking here.

 

What do you think about this new service? What other services would you like Payoneer to implement? Let us know in the comments.

UPDATE: Please note that while Payoneer only charges the flat fee of $5.95 or $9.95 depending on your country, your local bank may also charge you a fee.

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About Nissim

Head of Community at Payoneer. Nissim joined Payoneer in 2006 and holds a Bachelor's Degree in International Business Administration. He loves hearing from the community and discussing new ideas, and enjoys playing tennis and watching football in his free time. He can be contacted at nissimal [at] payoneer.com
  • R.Naz

    Hello,
    In the Payoneer Global Bank Transfer Service List, Bangladesh is included with USD and EUR currencies. Does that mean Payoneer supports Bangladesh for local bank transfer? http://www.payoneer.com/localBankTransfer-Avail.aspx

    I’m currently working on freelancer.com, is it possible to use Payoneer Global Bank Transfer Service to withdraw earnings from freelancer?

    I will be looking forward to a response.

    Thanks.

    • Nissim

      We support SWIFT transfers to Bangladesh. You can get paid from Freelancer via our Global Bank Transfer Service.

  • Qualifiedcoders

    I would like to know the Fees for GBT for different currencies like INR, USD and Euro as i cannot see anywhere now after login into My Account.

    Also i have seen this article today : http://blog.payoneer.com/?p=1807

    so if i have chosen USD , then payoneer will charge 5.95 USD and the currency conversion will be handled by our bank.

    but how does INR works ? from a partner like freelancer.com , payoneer will receive money in INR or USD? and then how does it goes from there in case of INR , i would like to know this.

    • Nissim

      The cost for transfers in INR is $5.95 per transfer. We pay you in INR, from a local bank in India. The partner is sending payments in USD, so we convert the funds using rates of up to 3% above the official market mid-rate.

      If you instead choose to get paid in USD, there is no conversion done. The cost is $9.95 per payment, and an additional 1%, up to $10. So a total of $9.95-$19.95.

      • Qualifiedcoders

        the USD thing is clear to me. but the INR , i have still have doubts. Lets suppose i withdraw 1000 USD from Freelancer.com and want to get in INR and lets suppose when i withdraw the money it was 1USD=Rs 50. so how much will i receive?

        I would like to compare both options.

        Thanks

        • Nissim

          We convert at rates 3% above the official market mid-rate. So let’s say 1USD=rs50 and you receive 100USD, that is rs500. We then apply conversion charges of up to 3%, and that is the amount we transfer.

  • Qualifiedcoders

    Hi Nissim

    i have registered for global bank transfer service and currency i chose was USD and now Payoneer is sending me money in INR. This is too bad and i have called up twice(infact i have also called up before the transfer was done because there were technical issues with payoneer linking my bank account but they confirmed during the call that it will be done in USD but again i have received the email “Good News . You will receive the money in INR”) . My Ticket # is : LTK12129069737032X

    Let me know if you can help in this regard.From this event it seems like Payoneer does not want to transfer in USD and forcing user to do currency conversion through them when i dont want that.

    Let me know.

    • Nissim

      Hi,

      I apologize for the confusion. I do see that your issue was forwarded to supervisor at our payment department, and we have changed the currency setting for your account so that all future transfers are made in USD.

      I will ask them to send you an e-mail confirmation.

      • Qualifiedcoders

        I will appreciate that if an email confirmation can be sent to me that it has been changed for future payouts.

        thanks

        • Qualifiedcoders

          Also is there any analytics where i can see how much i have been charged by payoneer for the last transaction. 5.95$ is the fixed cost. that is fine. but what about currency conversion and how much did they charge actually.

          i will appreciate if you can tell me where i can see this.

          Thanks.

          • Nissim

            You can access your My Account page and see the load history, which shows the amount of the payment. However the converted amount will only show up in your bank account when you receive the payment (from which you can calculate the conversion fee applied). Generally for INR we apply a conversion charge of 2-3%.

            I will send you an e-mail with the exact amount transferred in INR.

        • Nissim

          I’ve sent you an e-mail confirmation.

  • lynn

    HI, I have an online business with my company in Cyprus. I am a US citizen, with a residence in Italy.
    I use paypal for payment processing but they do not payout to my cyprus bank account, which makes it impossible to pay my suppliers by bank transfer.
    How can I use payoneer? Do I need a personal payoneer account where paypal will pay to my card- then I can withdraw to the company account in cyprus? Do I need a business account so I can pay suppliers directly? Thanks

    • Rita

      Hi Lynn, sign up as a Payoneer partner is free of charge and the cost is significantly less. Using partner account you can easily send payments worldwide using our global payout solutions.
      If you are interested in receiving further details about this option please let us know, community@payoneer.com

  • Romi

    Hi,
    As this is a very specific question, I will ask you to please email me at romisi@payoneer.com with it and we will continue the correspondence via email.

  • Romi

    Hi, the card is indeed issued in USD, but when you withdraw cash we perform a conversion to your local currency. Perhaps you should try withdrawing from the cashier, this way she’ll be able to do it in $USD.

    • nmvictor

      You mean from the cashier in my local Bank?Will they accept to serve withdrawals for another bank? Kindly advise.

      • Romi

        They should accept withdrawals – it depends on the bank or branch I suppose. I think you should try and see if they can help you out that way.

      • Ephraim Geoffrey Ombachi

        Hi Victor,
        Did you succeed in your quest to withdraw cash in USD?

  • zahid

    I want withdrawal from a company and they are asking me for the following details for Electronic money transfer into my bank account. How I add the following details of my payoneer US bank account????

    Account Holder Name:

    Bank Name:

    Routing number:

    Account Number:

    State:

    Bank Address:

    How i complete my state and bank address fields??? As i have only above fields in my Payoneer account and not mentioned state or bank address???

    Please let me know as soon as possible.

    Regards,

  • Romi

    We offer the GBT service in Indonesia – in USD, EUR and IDR. You must be working with a partner that offers the service.

    • Hedy

      Ok, Thanks Romi…

  • Romi

    Hi,
    Unfortunately due to IRB restriction we cannot offer the Payoneer card to residents of India. The only option is allowing the GBT service – the GBT service is offered through select partners and allows to withdraw earnings to your local bank account in India. You must be working with a certain partner who offers this service.

  • Romi

    Hi,
    There are two main ways to get payments on your card:
    1. Partners (sites/businesses we work with)
    2. US Payment Service (a service which allows you to receive payments from many approved US companies such as PayPal, Amazon, eBay and more)

  • Ashfaq Ahammed

    ok well how can i use only global bank transfear in india in payooner http://www.tricksfree.in

    • Romi

      You would need to be working with one of our partners who offers the GBT service.

  • Romi

    Hi,
    The Withdrawal to Bank Account Service is a new service we introduced as a pilot program a little while ago. It’s currently not available for all our account holders and we’re just testing it right now. We hope to open up the option and enable the service for more people in the near future.

  • Romi

    Hi,
    We don’t publish a list of our partners – these are companies that we work with and use Payoneer to pay their payees.
    I suggest quickly searching through our blog and forum for some ideas of such companies.

  • Romi

    You cannot transfer payments from your bank account to Payoneer. You can receive payments to your local bank account in India, only through specific Payoneer partners who offer the GBT (Global Bank Transfer) service. If you’re working with such a partner you can choose to receive payments to your bank account. At the moment, due to RBI restrictions, we cannot provide residents of India with a Payoneer card.

  • Romi

    Hi Jonathan,
    Payoneer and the US Payment Service are focused on business-related payments, not personal transfers. It isn’t possible to receive payments through USPS from individuals, only from US companies.

  • http://www.payoneer.com/ Nissim

    When receiving a payment to your US Payment Service, there is a charge of 1% of the payment amount.

    For any additional pricing and fees related to your Payoneer account you can log in and go to the “Help” menu of your account.

  • John

    Hi! I’ve already signed up for a Payoneer account and it is under verification now. However, I never got to the point where I would be able to choose between the Payoneer Mastercard and the Global Bank Transfer Service (which I would prefer). And now I received an email that I’ve “ordered” the Prepaid Mastercard. How do I change the payment option at this point?

    • Romi

      Hi John,

      Please note that the GBT (Global Bank Transfer) service is available for select Payoneer partners. Not every partner offers it. If you’ve signed up for an account directly through payoneer.com, you would not have had the choice to choose GBT, as this option is not available.

  • Romi

    Hi John,
    A company needs to be a Payoneer partner and pay via GBT in order for you to use this service. In your case, this US company can pay you via the US Payment Service – funds will arrive directly on your account balance and can be used with the Payoneer card. Currently there is no option to transfer to your own bank account, however this is a service that we hope to introduce to more account holders in the very near future.

  • Romi

    Hi,
    Once you’re approved it should take around 15-25 days for the card to arrive.

  • Romi

    Hi,
    I understand the difficulty with these high fees and can say that we are constantly working on adding more currencies to our service. Thank you for the suggestion and for reaching out.

  • Romi

    Hi,
    We’re always working on adding more currencies to our services. Thank you for the suggestion.

  • Justine

    Hi Rajesh,

    Thanks for your question! Unfortunately, this option is not available due to the restrictions in India.

    Please note that you can use our GBT service through any partner that offers it. We hope to be able to have more options in India soon.

  • Romi

    If this company has the option for Global Bank Transfer and can provide this service for you and pay you this way, you’ll be able to receive your payments to your local bank account.