Payoneer is an innovative financial payment company that provides money transfer and digital payments services. Since Payoneer is a cross-border payment platform, it enables payment services to millions of customers all over the world.
On the contrary of PayPal, it is available in almost all the countries in the world. Therefore it is a good alternative to Paypal for the people living in countries where PayPal is not available or only provides limited services. Specifically, Payoneer acts in India as an online payment gateway service provider (as prescribed by the Reserve Bank of India) (“OPGSP”) to facilitate certain payment services.
Most of the merchants and freelance websites pay their freelancers using Payoneer. It is also accepted by a wide range of leading companies including Amazon, Google, Airbnb, Fiverr and Getty Images, so if you work with any of them, it is more likely that you get your payments via your Payoneer account. These companies rely on Payoneer’s mass payout services.
In this article, we will be answering frequently asked question: “How to open a Payoneer account?”.
First of all, in any country, the process and requirements for opening a Payoneer account are the same. The only thing that you should consider is specifying your country during sign up. Opening a Payoneer account does not require any fees, so it is completely free to open the account.
To open the account, you only need the listed requirements below;
- An email account
- Address (postal code and residential address): Make sure you use the correct postal code. It is where your MasterCard will be shipped to.
- Local bank account: the details of your local bank accounts will be requested
- Means of Identification (ID card, voter’s card, Driver’s License, International Passport): If you have a temporary ID card slip, you can use it as long as it contains your National Identification number
You also have the chance to choose between having a company or an individual account. All you have to do is specify it during sign up.
These are the steps that you need to follow while opening a Payoneer account;
- Visit Payoneer website and click “Sign Up.”
- Enter the needed personal data including your choice of account type (Company/Individual). The data you enter must correspond with what you have on your means of identification. You should consider your Payoneer account as if it is your official bank account. Because by all means, it is pretty much the same thing.
- Then, enter your contact information in the boxes provided (country, address, phone number, employer identification number).
- Next, enter your security details.
- Enter your local bank account details.
- After you submit your application to open an account, you will get a confirmation e-mail stating that the review of your application is in progress.
- Finally, mostly less than two working days your application should be concluded.
As explained above the process of opening a Payoneer account is simple however you should be careful about the information you provide. It needs to be correct, accurate and corresponding to the information on your means of identification.