Payoneer review (UK 2025)

Payoneer is a straightforward solution for managing international payments. This solution simplifies cross-border transactions with transparent fee structures, faster cross-border transfers, and multi-currency management.

While Payoneer does not provide a full point-of-sale system like some other platforms, it remains a solid choice for small businesses in the UK managing global transfers.

This review outlines everything you need to know about Payoneer, from its wide range of features to its fees and major limitations. We also explore alternatives such as Wise Business, a powerful global payment platform that streamlines international payments.

💡 Learn more about Wise Business

Payoneer UK - quick overview

Payoneer is a global payment services company that helps small businesses, freelancers, and online stores in the UK send and receive payments from international clients in multiple currencies.

It was founded in 2005 to simplify international transactions for smaller businesses, freelancers, and sellers on marketplaces such as Amazon and eBay. With its headquarters in New York, this global payment service has expanded operations to over 200 countries, including the United Kingdom, Australia, Singapore, Germany, and more.

Today, Payoneer offers a wide range of services, ranging from local receiving accounts for receiving international payments to built-in invoicing software, and multi-currency management. These services make international payments seamless for companies in the UK with customers abroad. Payoneer also has partnerships with marketplaces such as Amazon, Upwork, eBay, Fiverr, and Walmart.

To get a glance at the services Payoneer offers, here’s a brief overview of the payment service provider's offerings¹:

Payoneer review: criteria

This section takes a deep dive into Payoneer's offerings using different criteria such as its key features, fees, customer service, and account limits.

Payoneer key features

Here are some of the key services that Payoneer offers to its users:

• Global payments service: With Payoneer’s Global Payment Service, you can receive international payments in multiple currencies from customers worldwide. You can get local receiving accounts in major currencies including GBP, USD, EUR, CAD, JPY, AUD, HKD, AED, and SGD.⁴ This service can help you facilitate cross-border transfers efficiently while reducing costly wire transfer fees.
• Cross-border payments: Payoneer makes transferring payments to workers, vendors, and partners worldwide seamless. This feature makes it easy for small businesses in the UK to disburse funds across borders easily.
• Built-in billing service: Create custom invoices in multiple currencies and request and accept payments in multiple currencies. This service makes invoicing and payment collections easy for your accounts receivable (AR) teams and reduces delays.
• Mass payout service: This service helps businesses and marketplaces process and manage high-volume payments without manual effort. You can automate mass payments in multiple currencies to recipients worldwide.
• Marketplace integration: Payoneer partners with marketplaces and vendors such as Amazon, Taboola, Walmart, and Wish, helping sellers to receive payments from their sales directly into their Payoneer account.
• Payoneer debit card: Use Payoneer’s prepaid commercial Mastercard® to withdraw cash from an ATM, pay for business expenses, and make online payments.
• Workforce management: Payoneer's global workforce management platform allows you to hire and pay employees without having local entities, while ensuring you’re still compliant with local labour laws.

Payoneer account limits

Below are some key shortcomings and limitations to be aware of when using Payoneer:

• No POS systems: Payoneer doesn't support a POS (point of sale) system to process client payments.
• Transfer restrictions: For you to transfer funds between two Payoneer accounts, you need to have received at least $1,000 on your account.
• No overdraft: Payoneer does not offer overdrafts to its customers. Instead, you can only spend funds available in your balance or limited to your set limits.
• Withdrawal limits: You can make up to 30 withdrawals with a $5000 (nearly £3,800 GBP) daily limit. Payoneer also lets you make up to 30 point of sales (POS) transactions daily with a $2500 (nearly £1,800 GBP) daily limit.
• Receiving limits: There are no restrictions on the amount you can receive from customers. However, when paying invoices, your clients will be limited to a maximum of:
  • £15,000 if paying by Direct Bank Payment or Payoneer Balance
  • £100,000 if paying by Local Bank Transfer
• Sending limits: Payoneer doesn’t have a specific limit for the amount you can send from your Payoneer business account. You can, however, set your own limits in your account.

Payoneer fees

If your company is considering using Payoneer for global transactions, here’s a concise overview of the platform’s fee structure across different services²:

Account Fees:

• Account opening is free
• Annual inactivity fee (no transactions in 12 months) cost $29.95

Receiving Payments:

• Receiving funds from Payoneer users is free
• Receiving funds in EUR, GBP, and other currencies via a receiving account is free
• Receiving USD via ACH in the account costs up to 1% fee
• Receiving payments via credit card costs up to 3.99% fee

Sending Payments:

• To Payoneer users in the same country (USD, EUR, GBP) costs a £4 flat fee
• To Payoneer users in different countries, costs 1% fee
• To non-Payoneer accounts: Up to 3% fee
• To UK, USA, or EU bank accounts (up to £50,000/month, same currency and country) cost £1.50 flat fee
• To UK, USA, or EU bank accounts (over £50,000/month, same currency and country) cost 0.5% of the payment amount

Card Services:

• Standard card delivery is free
• First card annual fee cost a flat fee of $29.95
• Additional cards are free
• Currency conversion fee can cost up to 3.5%
• ATM withdrawal cost £1.95 per withdrawal
• Card replacement is £9.95

Payoneer customer service

If you need to contact Payoneer, there are several ways to get support. You can reach out via phone, email, live chat, fax, or even by sending a letter. Additionally, Payoneer offers a comprehensive Support Center and a "Contact Us" form on their website to help address your questions.

According to Payoneer, they aim to resolve most issues within three business days, although response times may vary depending on the nature of the inquiry.

Alternative to Payoneer: Wise Business account

If you are looking for an alternative to Payoneer Wise Business account is the perfect option. It’s quick and easy to open online, and gives you a powerful platform for sending, receiving and managing your business finances in over 40+ currencies.

You can easily pay suppliers and employees all over the world, for low fees and the mid-market exchange rate. And best of all, you can get paid for your products or services quickly and easily, accepting payments in 8+ major currencies.

You can also link your Wise Business account with your favourite accounting tools, such as Xero or Quickbooks. This makes keeping track of your company’s finances a breeze.

Get started with Wise Business 🚀

FAQs - Payoneer review

How long does a Payoneer transfer take?

Local transfer on Payoneer usually takes around one to two business days to get to the recipient. Payoneer SWIFT transfer, on the other hand, can take two to five business days. The transaction processing time for SWIFT transfer usually depends on the country and the financial institution you’re transferring to.

Other factors that can affect processing time of your local and SWIFT transfers includes:

• Weekends and public holidays in either the sending or receiving country.
• Time zone differences between sender and receiver.
• Currency conversion delays.

Is Payoneer safe?

Yes, Payoneer is safe for UK businesses. It is licensed by the Financial Conduct Authority (FCA) as an Electronic Money Institution, ensuring compliance with strict UK financial regulations.

Customer funds are held in segregated accounts at top-tier banks like Barclays or RBS, keeping them separate from Payoneer’s operational funds. Additionally, Payoneer uses strong security features like two-factor authentication, anti-fraud systems, and regular audits to protect user accounts and data

Can I receive payments from marketplaces on Payoneer?

Yes, Payoneer lets you receive payments from marketplaces such as Amazon, Airbnb, Upwork, and many others.

Sources used in this article:

Sources last checked on 24/06/2025