Many freelancers and bloggers want to receive payments from foreign countries or globally. There are various payment receiving services are available to use. However, only few of them are trusted and recommended to use. The most popular online payment receiving services for freelances and bloggers are Paypal and Payoneer. Here, we will discuss a step by step guide to use Payoneer for receiving funds globally.
Before to Sign Up to Payoneer Account
Before Signing Up to Payoneer, first you need to consider the following prerequisites:
- Make sure you have a valid Local Bank Account in your country (obviously you must have).
- Make sure you follow the valid tax guidelines and submitted the tax identification number and information to your local bank authority.
If you have any query regarding the Tax submitting, please refer the Payoneer Help section. You may also contact to Payoneer team they are really very helpful.
Steps To Create Payoneer Account
Once your are sure about the above-mentioned recommendations, you may now proceed to use Payoneer for receiving funds globally.
Sign Up to Payoneer Account
- Sign up to Payoneer account if you do not have already registered. Provide the valid and genuine details during the signing up to Payoneer Account.
- Activate your account and login to your Payoneer account.
- Once you are logged in to your Payoneer account, go to Global Payment Service where you will find a virtual Global Account to receive international payments.
Global Payment Service Account
Note down your virtual Global account information. You will get three virtual global bank accounts: One for USD currency (USA), one for GBP currency (UK), and one for EUR currency. Generally USD global bank account is sufficient to receive international payments or you may use GBP and EUR virtual global bank account depending on the source of payment made to you. This virtual global bank account can be provided to companies that accept the Payoneer as a receiving payment method.
Withdraw Money to Your Local Bank Account
Once you receive a payment to your Payoneer account, it will be displayed in the USD/EUR/GBP balance section depending on the source of received payment. As per my personal experience, generally Payoneer transfers your money to your local bank account within 24 hours from the payment receiving date. To view the payment history, click the select the View Transactions under the Activity tab.
To be honest, I never have any payment issue with Payoneer services. However, we highly recommend you to check the Payoneer terms, conditions, payment three sold, and payment pricing fees regularly to keep yourself up-to-dated about their policy changes.
There is more interesting thing about Payoneer is “Refer a Friend scheme“. For example, if you refer one of your friend to Sign up to Payoneer account, once he receives $100 payment, you and your friend both will earn $25 as a referral commission (bonus amount). If you are thinking to use Payoneer as your payment option, sign up with the below-mentioned referral link and get the $25 bonus amount.