The American payment system Payoneer allows you to receive and send payments around the world. To date, the system is used by more than 4 million users, including individuals, sole proprietors and businesses.
Do you lose customers because you cannot open an account with a local bank in the country where you planned to do business? With Payoneer this is no longer a problem! Get customized bank details in the US, Europe, and Asia and accept payments in all currencies as if you were operating in the local market.
Every year, the number of Payoneer users is increasing, as no competitor can provide similar services to customers. So what is the success? Payoneer has its own style and as the founder Yuval Tal noted the biggest challenge for him in creating a payment system was:
"Finding the right people and getting them to work together to achieve synergy."
Benefits of opening a free business account with Payoneer
Opening a business account with Payoneer is an easy way to optimize financial transactions for entrepreneurs operating in the global market. Maira Consult lawyers highlight the following benefits for clients when working with Payoneer:
1. Free Payoneer for business
Registering a business account with Payoneer is free of charge. This allows entrepreneurs to start working without additional financial investments, which is especially important when starting a business.
2. Accounts in different currencies
The service supports multicurrency, which makes it possible to receive payments in the most common currencies - USD, EUR, GBP, JPY, AUD, and others. This feature is perfect for businesses focused on an international audience.
3. International transfers without borders
Recieve funds from partners and clients from anywhere in the world via bank transfers. This process is as simple and convenient as possible.
4. Quick access to funds
You can quickly transfer money to your local bank account or withdraw cash using Payoneer MasterCard at any ATM.
5. Integration with large and popular marketplaces
Payoneer easily integrates with platforms such as Upwork, Fiverr, Amazon, eBay, and others. This simplifies the process of earning money for freelancers and entrepreneurs.
6. Save money on international transactions
Take advantage of Payoneer's low fees to avoid high international payment costs. This is especially beneficial for businesses with a large volume of foreign operations.
7. Convenient financial tools
The platform interface allows you to control payments, issue invoices, make mass payments, create a business network to automate your business operations.
8. Global network of partners
With Payoneer, you can easily establish business connections and exchange payments with partners around the world.
9. Reliable protection of financial transactions
Payoneer provides a high level of data and transaction security, which guarantees peace of mind and confidence in your finances.
10. Mobile app for account management
Manage your account from anywhere through a convenient mobile app. You can track transactions, receive alerts, and manage your finances in real time.
As Payoneer is constantly improving its service and introducing new services for customers, we offer you detailed instructions on how to register a business account yourself in 2025.
Steps to register a free Payoneer account for a business company.
Follow the appropriate link to the Payoneer website.
LINK - if the company has an account in a bank or other payment system.
LINK - exclusively for companies that do not have an account.
The Payoneer page opens in your browser, which starts the free Payoneer for business. Since this is an instruction on how to open a business account on your own, you need to select the option
Yes, I am the owner or representative of a registered business
Getting Started.
Fill in the company data in English letters only.
- Legal name of the company according to the registration certificate;
- Trade name of the company,which you use to conduct business;
- Type of company (select from the drop-down list: LLC, FOP, Corporation, Partnership, etc);
- Compay's website. In case of absence, you can provide a page where your products or services are offered or specify nowebsite.com;
- Data of the authorized representative of the company - Name, Surname, contact email and date of birth.
2. Contact details
- Please provide the actual address of the company: country, street and house number, city, postal code;
- If the actual address does not match the legal address, please provide the legal address additionally;
- Please provide the contact phone number. To confirm the phone number, click Send verification code and enter the received code in the Verification code field.
3. Security details
- Enter your password. The password must contain at least 7 characters, of which at least 1 Latin letter (a-z) and 1 digit (0-9) must be included;
- Select a secret question from the ones offered by the system and write an answer to it;
- The system will automatically pull up the information about the country of registration of the company you specified earlier;
- Enter the company registration number;
- Select the date of registration of the company.
4. Almost done
- Select the type of account to withdraw funds: personal account or business account;
- From the drop-down boxes, select the bank country, account currency and bank name;
- The name of the official bank account holder is automatically pulled up by Payoneer;
- Enter the IBAN.
The last step in registering a free account is to agree to the terms and conditions, privacy policy, and tariffs.
It is important to note that creating an account with Payoneer is not an actual account opening.
How to verify a free Payoneer account for business
Completing all stages of registering a Payoneer business account is not the final account opening. We recommend the next day after registering a free Payoneer for business, to log in using your login (email) and password and check your requests in the Verification Center.
When you first log in, the system offers to set up account security: select 3 secret questions and enable the two-step verification function (the system will send verification codes to your mobile phone number each time).
The verification center will open requests for documents and filling out questionnaires about the company's activities, structure, and owners.
Standard list of documents for opening a free business account with Payoneer:
- Company registration certificate
- Share certificate
- Proof of company address
- Founding agreement and Articles of Association
- The ownership structure of the company - is a new requirement of Payoneer, the document must be certified by a notary/attorney/lawyer. This document is similar to the Certificate of Incumbency and contains detailed information about the company name, registration number, company address, director, shareholder, share capital and share distribution. As a regular partner of Payoneer, Maira Consult has many years of experience in preparing such documents and provides professional assistance to ensure full compliance. If you need to prepare this document or have any other questions, don't hesitate to contact us - we are ready to help you at every stage!
- Documents confirming the company's activities (invoices, contracts, etc.)
- Foreign passports of all participants
- Document confirming the address of the participants (utility bill or bank reference from a personal account)
- Document confirming bank account of the beneficail owner and the company
- Selfies of all participants with a passport and the current date
- Other documents depending on the company's activities and structure.
Activation of Payoneer business account
The final step to verify free Payoneer for business is to confirm the bank account for withdrawal.
Payoneer payment system offers two types of bank account verification:
- verification by sending microdeposits
- providing a bank statement
The most popular type of verification is account verification by sending microdeposits. In this case, Payoneer sends two microdeposits to your personal or corporate account specified during the registration of a business account. According to our experience, these are the amounts of 0.12, 0.15 USD.
After the micro deposits are credited, you need to enter these amounts in the verification center. If the amounts sent by Payoneer and the amounts you entered in the verification center match, your withdrawal account will be automatically verified.
Payoneer rates and account usage
Opening an account is free.
Annual account maintenance fee is 29.95 USD. You will only be charged if you receive payments of less than USD 2,000 (or equivalent) in a 12-month period.
Receiving payments
Payoneer allows you to receive funds in several ways:
1.From other Payoneer clients in EUR, USD, GBP - free of charge
2. Directly from your clients
- Up to $3.99 - Credit card (all types of currencies). In some countries, an additional fee of $0.49 is applied.
- 1% - ACH debit (for the USA only)
- 3.99% + $0.49 - PayPal (for the USA only)
3.Payments from companies and marketplaces. Commissions differ depending on the marketplace, platform, and network you use.
4.Payments by bank details.
Use Payoneer bank details to receive payments in different currencies:
- For EUR, GBP and other currencies - free of charge. Fees may be applied for payments below the minimum amount.
- For USD - up to 1%
Outgoing payments
1.If the recipient has a Payoneer account
- For recipients from another country: 1% of the transaction amount, minimum fee - 4.00 USD.
- For recipients from the same country (USD, EUR, GBP): 4.00 USD/EUR/GBP is fixed for each transaction.
For payments in other currencies, the exact fee will be shown on the screen before making the payment.
2.If the recipient does not have a Payoneer account.
Payments to recipients' bank accounts via bank transfer:
- Commission: up to 3% of the transaction amount.
- A minimum fee may apply.
- For customers with high turnover, special reduced rates are available.
How to withdraw money from Payoneer
Payoneer allows you to transfer funds to your local bank account conveniently or use your Payoneer card to withdraw money from ATMs.
1. Withdrawal to a bank account in local and non-local currency from Payoneer balance - fee up to $3 per transaction (depending on the amount). Withdrawal via Payoneer Mastercard.
Use the card to withdraw money from ATMs.
- You can withdraw cash in local currency from ATMs in any country.
- Check the cash withdrawal fee (usually $3.15 per transaction).
3. Transfer to another Payoneer account.
If your partner also uses Payoneer, you can transfer funds to their account for free.
VIP account in Payoneer in 2025
Starting January 1, 2025, new customers can get VIP status if they receive at least $30,000 per month to their Payoneer account.
Each new VIP account will be supported by a personal manager for the first three months. During this period, the client and the VIP manager will:
- Successfully pass the verification process;
- Conducts the first transactions;
- Gets acquainted with all stages of working with the account, payment cards and details for the full use of all services.
After completing this stage, the client retains VIP status, which includes special rates and access to a premium support channel.
Tips from a Maira Consult expert
Our specialist Maryna Taranets, who is engaged in opening an account with Payoneer, recommends you to prepare all the necessary documents in advance before registering an account. This will allow you to save time and not interrupt the account registration process.
- We recommend uploading high-quality passport photos, not scanned copies, so that the system can recognize the passport.
- Please specify only a valid email to which you have constant access during registration.
- Save not only your login and password, but also remember the secret question and its answer, as well as the Recovery code, which is unique.
- Regularly check the verification center in your personal account, as new requests from compliance may appear there.
- Even if the company is newly established and does not yet have an account, prepare signed contracts with future partners. This will allow compliance to understand your intentions.
- After you start working with Payoneer, check exchange rates, choose banks with minimal fees, and make transfers on business days to avoid delays.
Opening a free business account with Payoneer is the best solution for entrepreneurs and freelancers looking to save time, reduce their costs, and automate international payment management. Maira Consult has many years of experience with opening an account in payment systems and is a regular partner of Payoneer. We will help you at all stages - from registration to full customization of your business account!
