Can You Use Payoneer in the UK? - UK Guide

Run a UK business with a global reach? You’ll need to find an international payments solution you can rely on.

One option you’re likely to come across when researching providers is Payoneer.

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

But does Payoneer work absolutely everywhere, and crucially - can you use it in the UK?

In this guide, we’ll cover everything you need to know about using Payoneer in the UK. This includes whether GBP is supported, what transfer fees the platform charges and how to open an account.

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 worldwide.

💡 Learn more about Wise Business

Can you use Payoneer in the UK?

Yes, registered businesses here in the United Kingdom can access all the features and services of the Payoneer platform.

You can use Payoneer to send money overseas from the UK, and hold a balance in British pounds (GBP) among other major currencies.

You can also get UK account details (account number, sort code and IBAN) so that you can receive GBP payments, just like with a local bank account.¹

If you have a Payoneer business card, you can also use it for spending in GBP in the UK. It also works anywhere in the world that Mastercard is accepted, and you can spend in four major currencies - GBP, EUR, USD and CAD.² This could be handy for covering expenses if you’re on an overseas business trip.

Is the British pound supported by Payoneer?

Yes, Payoneer supports British pounds (GBP) for all types of transactions. This includes sending and receiving payments, and holding a GBP balance in your Payoneer account.

You can also spend in GBP using your Payoneer business card. Only a few currencies are supported, including USD, CAD and EUR, but GBPis one of them.²

Payoneer fees and cost in the UK

You’ll always want to check out the fees and charges (including the small print) when signing up for an account with a global payments provider.

So the key question is - how much does it cost to use Payoneer in the UK?

Let’s run through the main fees you need to know about for sending, receiving, converting and spending:³

Can you open an account with Payoneer in the UK?

Payoneer accounts are open to all registered UK businesses, as well as freelancers working in the UK.

To apply, you’ll need to provide all required personal details and documents for your business, as well as proof of ID and address.

To find out the exact requirements for opening a Payoneer account in the UK, you’ll need to contact the company’s customer services team.

Wise Business: an alternative to Payoneer in the UK

While you’re researching ways to manage business funds between the UK and worldwide, 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, including GBP.

You can send fast, secure payments to 140+ countries, and get account details to get paid in 8+ currencies like a local. And of course, this includes British pounds.

You can use your Wise Business account by customers and clients through marketplaces too - 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 including the UK
• 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 outside the UK, into Europe and beyond.

Wise Business vs Payoneer in the UK comparison

You’ll have lots of different factors to weigh up when choosing a global payments solution for your business.

To help you start your research, here’s a quick comparison of what Wise Business and Payoneer each have to offer for UK businesses looking to trade internationally:

Get started with Wise Business 🚀

After reading this, you should be all set to start using Payoneer in the UK. We’ve looked at supported currencies including GBP, fees for sending and receiving money, and how to open an account.

Just remember that there are lots of other global payments solutions and business accounts out there. It could pay to research all your options, to find the perfect fit for your business as it works towards international expansion.

Sources used:

Sources last checked on date: 19-Feb-2025