4 ways to pay your global service providers
Have you received a Payoneer payment request from one of your international service providers, suppliers, or business connections?
Sign in regularly to check the status of your payment requests and pay any new payment requests you receive. Bookmark the URL https://login.payoneer.com.
Depending on where you are located, you will have several different payment methods to choose from to pay the payment request, including: eCheck, local bank transfer, credit/debit card and your Payoneer account balance. In this post, we outline everything you need to know about these four payment methods.
1. What is an eCheck?
An eCheck is an electronic version of a paper check. It combines the processing efficiency and security of internet transactions with the well-established legal and business processes associated with paper checks.
Like a real check, an eCheck draws funds from a checking account in the amount written on the check. In the US, eChecks are considered the ‘next generation’ payment method and are widely used by businesses to make their online payments.
eChecks are processed through an Automated Clearing House (ACH) Network, making the transaction fast and highly secure. While eChecks do not offer chargeback or dispute resolution, they still can be recalled.
Paying a Payoneer Payment Request via eCheck
If you are located in the United States, you can pay via eCheck.
|In which currencies can I get paid with eCheck?||USD ($)|
|What are the payment limits per transaction?||Minimum amount*: 20 USD
Maximum amount: 10,000 USD
|How long does it take to receive payment?||Approximately 5 business days|
|What is the fee?||0% – 1%|
*The minimum amount can vary between 20-50 USD/EUR/GBP
You can complete an eCheck payment in 3 easy steps:
- Click the ‘Pay Now’ button in the payment request email you receive.
- Choose ‘eCheck’ from the list of available payment methods.
- Enter the bank name, checking account number, routing number and account holder name on your paper check:
2. What is Local Bank Transfer?
A local bank transfer is the electronic transfer of funds from one bank account to another bank account in the same country.
Paying a Payoneer Payment Request via local bank transfer
Payoneer offers receiving accounts via our Global Payment Service. This service enables Payoneer account holders to receive local bank transfers from companies and marketplaces in the US, UK, EU, Japan, China, Canada and Australia directly to their Payoneer account.
|Local Bank Transfer|
|In which currencies can I get paid with local bank transfer?||USD ($)
|What are the payment limits per transaction?||Minimum amount: 20 USD/EUR/GBP/AUD
Maximum amount: 100,000 USD/EUR/GBP/AUD
|How long does it take to receive payment?||Approximately 1-3 business days|
|What is the fee?||USD: 1%
EUR, GBP, AUD: No fee
You can complete a local bank transfer payment in 2 steps:
- In the payment request email from Payoneer, you will find the recipient’s local bank account details.
- Initiate a domestic bank transfer from your bank’s website, app, or branch.
3. What is a Credit or Debit Card?
Credit cards are one of the easiest and safest international payment methods. Every business owner has at least one credit card and they come with chargeback protection, which is an added plus. At Payoneer, we accept credit and debit card payments in USD, EUR and GBP.
*Cannot be used for domestic payments in India. Cannot be used in the Dominican Republic
|In which currencies can I get paid via credit/debit card?||USD ($)
|Which credit/debit card companies handle the processing?||Visa® and Mastercard®|
|What are the payment limits per transaction?||Minimum amount*: 20 USD/EUR/GBP
Maximum amount: 10,000 USD/EUR/GBP**
|How long does it take to receive payment?||Approximately 2 calendar days|
|What is the fee?||3%|
*The minimum amount can vary between 20-50 USD/EUR/GBP
Please note: Credit card transactions about $2,000 may require you to present ID or Certificate of Incorporation (if representing a company).
Customers can complete a credit card payment in 3 steps:
- Click the ‘Pay Now’ button in the payment request email received from your service provider.
- Choose ‘Credit Card’ from the list of payment methods in the Payoneer platform.
- Enter the billing address, credit card number, card expiry date, and CVV number.
4. What is a Payoneer balance?
If you have a Payoneer account and you use it to accept payments from your customers, you will accumulate a Payoneer account balance. You can use this balance to pay Payoneer payment requests.
Paying with your Payoneer Balance
Any Payoneer account holder can pay with their Payoneer balance, so long as they have sufficient funds to fulfill the payment.
|In which currencies can I get paid via Payoneer account balance (Make a Payment)?||USD ($)
|Who handles the payment processing?||Payoneer|
|What are the payment limits per transaction?||Maximum amount: 10,000 USD/EUR/GBP*|
|How long does it take to receive payment?||Approximately 2 hours|
|What is the fee?||No fee|
*Payoneer balance transaction limits for payments made via Payment Request.
**In rare cases, transactions can take up to 2 business days.
You can use your Payoneer Balance to complete a payment request in 5 steps:
- Click the ‘Pay Now’ button in the payment request email you received.
- Choose ‘Payoneer balance’ from the list of available payment methods.
- You will be redirected to sign in to your Payoneer account.
- Once signed in, you will need to confirm the use of your Payoneer balance to complete the payment.
- Click ‘Pay Now’ to complete the payment.
Additional benefits of each payment method at Payoneer
|eCheck||Reliable: eChecks are processed on the ACH Network, which is the same system that processes direct deposits.|
|Local bank transfer||No extra fees: With local bank transfer, you dodge the currency conversion fees you would normally pay for international wire transfers.
No third-party banks: Funds do not have to be transferred to an intermediary bank before they reach the recipient’s bank account, like with international wire transfers
|Credit or debit card||Multi-currency: Payoneer accepts credit and debit payments in USD, EUR and GBP.
Tracking: Use your monthly statement to stay on top of your spending.
|Payoneer balance||It’s FREE: Payoneer account holders can use their Payoneer balance to pay other Payoneer account holders, with zero fees.
Flexible: Transfer funds 24 hours a day, 7 days a week from anywhere in the world.
So, which payment method is best for me?
The answer depends on several factors, such as your location in the world, and whether or not you have a preferred method of payment to handle your different business expenses.
Payoneer offers a variety of options to make payments as easy and smooth as possible, no matter where you or your service provider are located in the world.