How to order a Payoneer card in the UK

If you run a business that accepts payments from customers, you’re likely to have heard of Payoneer, which offers business accounts with a focus on digital businesses and ecommerce sellers. Payoneer accounts also come with a linked debit card¹, which is what we’ll focus on here in this guide. We’ll run through everything you need to know, from fees and eligibility to how to order a Payoneer card for your business.

We’ll also take a look at Wise Business and Wise’s multi-currency business card which allows you and your team to spend in countries and hold a balance in currencies, all with mid-market exchange rates and low fees.

💡 Learn more about Wise Business

What is a Payoneer card?

The Payoneer debit Mastercard allows you to spend the funds that come into your Payoneer account. You can also use it to withdraw cash at an ATM. It works just like an ordinary debit card, so you should be able to use it anywhere that Mastercard is accepted.

It’s a handy payment method when making business purchases, such as buying goods and covering travel expenses. You can also use it to pay for business services such as advertising or accounting online or in person.

You can use your Payoneer card internationally too, although there are fees involved (we’ll look at these next). Payoneer offers cards for each currency balance in your account, so you can pay in the local currency too. It’s important to note though that the Payoneer card is not a multi-currency card. Instead, you’ll need to order a new card for spending in each currency, with the supported currencies being USD, EUR, GBP, and CAD.

Payoneer virtual card vs physical card

When you order a Payoneer card, there’s an annual fee to pay for the first card you receive. After this, you can generate linked additional cards with no ongoing fees. The linked cards are virtual cards, but linked to the same account as your primary card. Your linked card will expire at the same time as the primary card on the account, and is only active while the primary card is active².

You can set different limits on your linked cards to control spending and to keep your business finances separate in different currencies if you need to.

Payoneer card fees

Payoneer cards have a few fees to think about, including an annual charge on your first card. There are then also a few transaction and service fees which vary depending on how you use your card. Here’s a summary of the key Payoneer card fees you’ll need to consider:

*Details correct at time of writing - 9th December 2024

Am I eligible for a Payoneer card?

While most Payoneer platform users should be eligible for a Payoneer card, not all are. You’ll need to have received a minimum of $100 (or the equivalent in GBP) in your Payoneer account over the last 6 months. This doesn’t include payments made from e-wallets like Skrill or PayPal.

If you’re not sure whether you meet this eligibility criteria, there’s a quick way to check. Sign into your Payoneer account, select ‘Banks & cards’ and then ‘Payoneer cards’. If you see a button to ‘Order Now’, it means you’re eligible and can order your debit card right away.

How to order Payoneer card - step by step

If you’re happy with the fees involved and are eligible for a Payoneer card, it’s time to get yours ordered. Luckily, it’s quite quick and easy to do.

Here’s what you need to do to order your Payoneer card⁴:

1. Sign into your Payoneer account
2. Click on ‘Payoneer cards’
3. Select the option to ‘Order a card’
4. Choose your card type. You can have a physical card, which is just like an ordinary plastic debit card. There’s also the option to have a virtual card, which is a digital version of your debit card. You can use this for contactless mobile payments, but are unlikely to be able to use it for ATM withdrawals
5. Choose your currency - your options are GBP, EUR, USD or CAD. If you want, you can apply for separate Payoneer cards for each currency
6. Follow the instructions and submit your application

You’ll need to make sure you have your approved ID and proof of address on file with Payoneer in order to be accepted for a debit card.

Payoneer card FAQs

How soon will my Payoneer card arrive?

During the application process, you’ll be given the option to choose standard or express delivery for your new card. Payoneer standard international shipping takes 20 to 28 days, but express delivery options are available.

Express shipping is handled by DHL and costs 30 GBP. Express shipping should mean you get your card in 4 to 7 business days. To choose this option while ordering your card, you’ll need to make sure you have enough money in your Payoneer account to cover the fee. Standard shipping is free.

What are the limits for Payoneer cards?

Payoneer cards have variable spend limits which mean you can control how much can be spent on a given card in a daily or monthly period. There are also separate ATM withdrawal limits.

Once you've spent up to the applicable limit the card can not be used again until the limit resets at the end of the period. You can still use your physical card at an ATM if you have not already reached the daily ATM limit. If you need to increase your spend limits you can contact Payoneer to arrange this.

Is Payoneer a debit or credit card?

The Payoneer card is linked to your Payoneer account balance in the currency you’ve selected. It functions as a debit card as you’ll be spending the account balance, rather than taking a credit line. 

In the UK customers may be issued the Payoneer Business Premium Debit Mastercard, or the Payoneer Corporate Purchasing Mastercard, which each have their own licensing arrangements.

A multi-currency card alternative: Meet Wise Business

If you like the idea of spending in multiple currencies without needing separate cards, check out Wise Business.

The Wise multi-currency card can be used in countries, almost anywhere that debit cards are accepted. It works with Apple Pay and Google Pay, and can be used online, in person and at ATMs too.

Whenever you spend, this clever contactless card automatically converts your pounds into the local currency at the mid-market exchange rate. There’s just a small fee for the conversion, or it’s free if you already have the currency you need in your account.

There are no subscription charges to worry about, only a one-time account opening fee of , and a card order fee of £3.

Get started with Wise Business 🚀

The Payoneer card is easy to order and use, allowing you to spend from your Payoneer account balance in several major currencies. However, there are fees which apply to the card - both an annual charge and transaction fees for things like overseas spending and ATM use. Before you order your Payoneer card,compare your alternatives from providers like Wise Business which has no annual fee and uses the mid-market exchange rate for spending in 40+ currencies.

Sources used in this article:

Sources last checked December 20, 2024