Can You Use Payoneer in Argentina? - UK Guide

If your UK business needs to send and receive international payments, one solution to consider is Payoneer.

It’s a US-based financial services company offering accounts, money transfer services and other payment services for businesses worldwide.

But does it work absolutely everywhere? In this guide, we’ll take a look at whether you can use Payoneer in Argentina. This will be useful to know if your company is looking to trade with Argentina, or expand into South America at some point.

Remember though that Payoneer isn’t the only option for global businesses. Wise Business is a fantastic alternative, offering a full-feature account, cards, invoicing, bulk payments and secure transfer services to Argentina and worldwide.

💡 Learn more about Wise Business

Can you use Payoneer in Argentina?

You can use Payoneer to send money to Argentina, even if your business is registered in the UK. Clients and customers there can also send you money to your UK-based Payoneer account.¹

If you have a Payoneer card, you can also use it for spending in Argentina - it should work anywhere that Mastercard is accepted.² This could be handy if you ever need to visit the country on a business trip.

It’s important to remember though that this will involve a currency conversion, as Payoneer cards only support certain currencies - USD, EUR, GBP, and CAD. We’ll look at this in more detail next.²

Is the Argentine peso supported by Payoneer?

The Payoneer account doesn’t let you hold a balance in Argentine peso (ARS). But you can send payments in the currency to suppliers, contractors and employees based in Argentina,

When it comes to receiving funds into your Payoneer account, any money in Argentine pesos will be automatically paid in US dollars (USD).³

You can use your Payoneer Mastercard in Argentina, but not to spend in ARS. The card only supports USD, EUR, GBP, and CAD, so you’ll be spending in one of those currencies and a currency conversion will be required.² This is likely to incur a fee, which we’ll look at next.

Payoneer fees and cost in Argentina

Now we come to the important question - how much does it cost to use Payoneer in Argentina as a UK business?

Let’s run through the main fees for sending, receiving, converting and spending:⁴

Can you open an account with Payoneer in Argentina?

Considering expanding your business operations to South America? You’ll need to know whether you can open local accounts in each of the countries you’re targeting, which includes Argentina.

Unfortunately though, it isn’t currently possible to open a Payoneer sending account in Argentina - even if you register a business there.⁵

Some South American countries are supported by Payoneer though, such as Colombia, Chile and Brazil.⁵ So it’s not impossible to imagine that Argentina will be added to the list at some point.

Wise Business: an alternative to Payoneer in Argentina

While you’re researching ways to manage business funds between the UK and Argentina, make sure you check out Wise Business.

It’s a great alternative to Payoneer and simply tailor-made for global businesses, as well as freelancers working with clients based all over the world.

Open a Wise Business account and you can hold and exchange 40+ currencies at once. You can send payments to 140+ countries worldwide, including transfers in Argentine pesos (ARS) to Argentina.

Use your Wise Business account to get paid in a selection of major foreign currencies by customers and clients, through marketplaces - and via payment service providers like Stripe.

Whenever you need to send, spend or exchange foreign currencies, you’ll benefit from the mid-market exchange rate, with low, transparent fees.

You’ll also benefit from all of these features with Wise Business:

• No ongoing fees, minimum balance requirements or foreign transaction fees
• Debit and expense cards for you and your team, which you can use in 150+ including Argentina
• Multi-user access for team members, with ways to control and manage permissions
• Pay up to 1,000 people at once with the Wise batch payments feature
• Integrate with your favourite cloud accounting solutions, and use the Wise API for automation and streamlining workflow
• Use the Wise Interest feature to make your money work harder when you’re not using it.

With the help of a truly global account, your business can grow into South America and beyond.

Wise Business vs Payoneer in Argentina comparison

To help you choose the right option for your company, here’s a quick look at what Wise Business and Payoneer each have to offer for UK businesses trading with Argentina:

Get started with Wise Business 🚀

After reading this, you should have a better idea of whether you can use Payoneer in Argentina as a UK business owner. We’ve looked at sending and receiving payments between the UK and Argentina, whether the Argentine peso is supported and what fees the platform charges.

We’ve also covered an alternative global payment solution - Wise Business. This should give you a solid start as you research the available options and choose the perfect fit for your company.

Sources used:

Sources last checked on date: 19-Feb-2025