Payoneer Review Philippines: Safe & Legit? [+ $50 Bonus]

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Payoneer is the best way to send and receive funds online to the Philippines. This Payoneer review gives you all the details you need to know about this company: its pros, cons, and features that you may never find anywhere else.

Sending and receiving payment from another country is essential in today’s date for any freelancers and bloggers. Payoneer, a popular online money transfer service, offers payment solutions to freelancers, digital marketers, and businesses.

But is Payoneer legit? Is it safe? Is it the best option for freelancers and digital nomads looking for a reliable payment processor?

Read on to learn more.

Features at a glance

Feature Offering
Setup fee Free
Credit card payment Yes
Mobile app Yes
Available currency exchanges More than 150
Bank transfer timeline 2-5 days depending on location
Bank transfer fees Free and up to 2%
Invoices Via invoice builder or attach a PDF
Tax administration Requests, collects, and stores data
Annual fee $29.95 for every 12 months of inactivity
Small business support Merchant cash advance up to $750,000 with Amazon and Walmart

What is Payoneer & how it works?

Payoneer is a fintech service that lets you get money online. It works for a lot of online users such as:

You can request payments from anyone even if they don’t have a Payoneer account. 

Payoneer offers you a local bank account which you can use to get paid by your clients. This feature is called “Global payment service.” Since the clients are paying in local currencies, they don’t have to deal with huge remittance charges or Forex charges. 

In Payoneer, you can get paid in the following countries:

  • USD account (USA)
  • EUR Account (Europe)
  • GBP account (UK)
  • JPY account (Japan)
  • AUD account (Australia)
  • CNH account (China)
  • CAD account (Canada)

You will be using international bank details to receive funds from companies and marketplaces globally. For example, if you are an Amazon affiliate or seller, you can get paid in that local bank account provided by Payoneer.

Once a company transfers the funds to your Payoneer account, the money is converted automatically to your local currency and is available for withdrawal.

In the below screenshot, you can see how my US bank account details look like:


Whenever you need to receive payment from any US Client or European client, you can share your unique US or UK payment service information (You will get this detail inside your Payoneer account) to receive payment.

When you use Payoneer to receive payment, you will save on Forex conversion & transaction fees.

Payoneer is a great way to accept payment from various popular companies among Filipino freelancers & digital marketers. The biggest advantage is you’ll save a notable amount in the transaction.

How much is Payoneer fee?

Payoneer fees are what make it most popular among freelancers and affiliate marketers. There are no transaction fees!

payoneer fees

Here are a few instances where Payoneer will charge us:

  • When transferring funds to our local bank account- 2% charge of the total withdrawal amount 
  • Forex conversion charges (Which is standard and way lower than other Payoneer alternatives)
  • Credit/debit card payments – 3% charge of the total amount

Payoneer payment option from network and marketplaces

Payoneer is supported as an official payout option by several ad networks, affiliate networks, and freelancing sites.
This reduces the cost for both the sender and receiver of the money.

The list of supported networks by Payoneer is getting longer every other day. Here are a few popular businesses that support Payoneer as a payment option:

  • PropellerAds
  • Fiverr
  • AirB&B
  • Canva
  • GettyImages
  • ShareASale
  • Rakuten
  • Upwork
  • 99 designs
  • Truelancer
  • Clickbank
  • Depositphotos
  • CPAlead
  • eBay
  • Groupon
  • Odesk Corporation
  • Prosperent
  • SEDO

There are more than 100+ supported marketplaces. My recommendation is for Filipino Bloggers, Affiliate Marketers & freelancers to start using Payoneer wherever possible.

The signup process is easy, and you need to provide your bank details to receive payment at the time of signup. You have to wait for a day or two for account approval, and once approved, you can get your US & UK Payment service details.

Get Bonus $50 When you do your first $500 transactions

Here’s one more reason to start using Payoneer. 

When you signup using our link, you will get a bonus of $50 just for using it. Easy money! 

Payoneer Philippines limit

  • A minimum limit of $50 (or equivalent in other currencies)
  • Monthly transaction limit $110,000.00
  • A minimum fee of $10 (or equivalent in other currencies) 

Time-saving Tip: Save your US or Europe payment service locally using a note-taking app, so you don’t have to go to the Payoneer website every time to get the details.

Payoneer virtual card

Payoneer offers pre-paid physical master cards and also virtual cards in many countries. The Payoneer card feature is available in the Philippines.

To be able to request a Payoneer card, you’ll have to have received a minimum of $100 in payments to your Payoneer account in the last six months. 

To check if you are eligible to order a Payoneer card, follow these steps:

  1. Sign in to your Payoneer account.
  2. Go to “Settings.”
  3. Click “Card Management.”

If you see “Order Now,” then you are eligible to receive your Payoneer card. If you aren’t qualified to order your card, you’ll see a message describing the eligibility requirement.

Payoneer Pros & Cons

Payoneer: Pros

  • Free account
  • Free payments between Payoneer accounts
  • Used by big brands
  • Direct bank withdrawals

Payoneer: Cons

  • High transaction fees
  • The card costs $29.95/year
  • Poor customer service
  • No perks offered with card

Our Verdict

Payoneer is a decent fintech option banking option; it’s a well-established company, used by many big brands, and a good choice if you intend to use it to do business with other Payoneer users.

Being a user of Payoneer, I could vouch for it. Whenever possible, I use Payoneer to receive money over PayPal or other similar services because of its low fees and faster service.

The only downside is that the customer support is very bad, and it can take a long to answer your queries. And unlike most of its competition, Payoneer also charges an annual fee of $29.95 if you want to have a card to access your account funds; on top of this, the card doesn’t even offer any special perks cash back or store discounts.

Overall, Payoneer gets four stars for its services and helping freelancing and business owners to do business globally.

Use this special promotional link if you want to get a Payoneer account and earn $50 completely free.

Once you’re done signing up for Payoneer, you might also want to read:

Do you want to share your Payoneer experience? Do you have any questions about Payoneer services? Just comment below.


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