Thinking of signing up for a Payoneer business account? One of the key things you’ll need to know about is limits - for sending and receiving money, withdrawing funds to your bank account and using a Payoneer card.
In this handy guide, we’ll cover all of the essential info you need to know about Payoneer business account limits.
We’ll even show you an alternative way to get paid easily by customers and clients all over the world - the Wise Business account, ideal for global businesses and freelancers alike.
💡 Learn more about Wise Business
Payoneer is a US-based platform that allows businesses to make and receive payments across international borders.
It’s aimed at small-to-medium sized companies, particularly ecommerce businesses which sell online. However, it can also be used by freelancers and other types of entrepreneurs.
Payoneer’s services and accounts are split by customer type - Freelancer, Business and Marketplace, each offering a range of specially tailored services.
Let’s start with a quick look at the main limits which apply to Payoneer business accounts:
| Transaction type | Payoneer limits |
|---|---|
| Sending money | Varies - check account for personal limits |
| Receiving money to local accounts | Unlimited² |
| PoS transactions | Up to $2,500 a day - max. 30 transactions⁴ |
| Withdrawals to bank account | Up to $5,000 a day - max. 30 withdrawals⁴ |
| Card payments | Set by user⁵ |
| ATM withdrawals | Varies |
Payoneer doesn’t have set limits available for sending money from your business account. You can always check your own limits in your account or in the Payoneer app to find out more.
However, it’s worth knowing that different fees apply for sending under and above $50,000 (or the currency equivalent) in total within a month.¹ You can see the full list of fees on the Payoneer pricing page.
There are no limits to receive money into local Payoneer receiving accounts.² However, when paying invoices, your clients will be limited to a maximum of:³
- £15,000 if paying by Direct Bank Payment or Payoneer Balance
- £100,000 if paying by Local Bank Transfer
For Point-of-Sale (PoS) transactions, you’ll be limited to PoS a maximum of $2,500 (approx. £1,977 GBP) a day, with no more than 30 transactions permitted.⁴
You can withdraw up to $5,000 (nearly £4,000 GBP) a day from your Payoneer account to your bank account, up to a maximum of 30 separate withdrawals.⁴
If you’re using Payoneer cards to cover expenses, you can set your own limits for spending and ATM withdrawals.⁵ You can check what they are and amend them in your Payoneer account.
While you’re researching ways to manage business funds across borders, make sure you check out Wise Business. It’s ideal 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 and get local account details to get paid in 8+ currencies like a local.
Use your Wise 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+ countries
- 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 beyond international borders.
Get started with Wise Business 🚀
After reading this, you should have a better idea about Payoneer business account limits. The info isn’t too easy to find on the Payoneer website, but this is partly because many limits are set per account - so, you can always sign in and check, or take a look in your Payoneer mobile app.
Sources used:
Sources last checked on date: 27-Jun-2024
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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