Payoneer business account review fees, eligibility and availability

Snapshot

Payoneer is a payments platform rather than a bank. It gives businesses receiving accounts in several currencies and a commercial Mastercard for cross border payments, with no monthly fee. It suits freelancers, marketplace sellers and ecommerce businesses that get paid by international clients and platforms, as of 29 May 2026.

Who it suits: Freelancers, marketplace and ecommerce sellers, and businesses that receive cross border payments from clients or platforms such as Amazon, Upwork and Fiverr.
Broadly available in: More than 190 countries and territories, with some restrictions. Cards are not offered to residents of Russia, India or OFAC sanctioned countries, as of 29 May 2026.
Headline monthly fee: No monthly fee. Annual account fee about USD 29.95, waived if you receive more than USD 6,000 in any 12 month period, as of 29 May 2026.
Account type: Payments and receiving account with a commercial Mastercard, not a deposit bank account.

Fees and features as of 29 May 2026Last reviewed 29 May 2026

General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.

Payoneer is a global payments service that lets a business receive funds in several currencies, pay suppliers and contractors, and spend with a Mastercard. There is no monthly fee. Instead you pay an annual account fee of about USD 29.95, which is waived if you receive more than USD 6,000 in a rolling 12 month period, plus transaction based charges such as a 1 percent fee on payments received from some marketplaces and a currency conversion cost that varies by corridor. Figures are shown as of 29 May 2026. Confirm current terms with Payoneer.

Overview

Payoneer and its related entities provide payment and receiving accounts used widely by freelancers, online sellers and service businesses that work across borders. You can receive into local receiving accounts in currencies such as USD, EUR and GBP, withdraw to a linked bank account, pay other Payoneer users, and pay business expenses with the Payoneer commercial Mastercard. It is a payments platform, so it does not offer the deposit protection or full banking services of a chartered bank. Verify current features with Payoneer.

Strengths

No monthly fee and quick setup. Useful for receiving from large marketplaces and clients in many countries. Local receiving accounts in major currencies reduce the friction of getting paid internationally. A commercial Mastercard lets you spend balances directly.

Limitations

It is not a bank account and does not pay interest or offer overdrafts. Currency conversion and some marketplace receiving fees apply, so the cost depends on how you use it. Card eligibility requires a minimum amount received, and cards are not available in some countries. Cash handling is not supported.

Fees and features

All figures as of 29 May 2026. Verify current terms with Payoneer.
Monthly fee	No monthly fee, as of 29 May 2026.
Transaction fees	Varies by activity. A 1 percent fee applies to payments received from some marketplaces such as Upwork and Fiverr. Same currency withdrawals to a bank account carry a flat fee below a monthly threshold. Verify current charges with Payoneer.
FX fees	Currency conversion cost varies by corridor and is added when you convert between currencies. Confirm the current rate with Payoneer, as of 29 May 2026.
Minimum deposit	No minimum deposit. Card eligibility requires at least USD 100 received in the prior 6 months, as of 29 May 2026.
Multi currency	Yes. Local receiving accounts in currencies such as USD, EUR and GBP, with conversion priced by corridor.
Integrations	Connects with major marketplaces and platforms such as Amazon, Upwork and Fiverr, plus payouts to contractors. Verify current integrations with Payoneer.
Eligibility	Registered businesses and individuals in supported countries, subject to identity and business verification. Not available to residents of sanctioned countries.

Open a Payoneer business account

Availability and fees vary by country. Check the Payoneer by country pages below for your market, then confirm current terms with the provider. Shown as of 29 May 2026.

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Payoneer by country

Questions about Payoneer

Is Payoneer a bank?

No. Payoneer is a regulated payments and electronic money provider, not a chartered bank. It offers receiving accounts and a commercial Mastercard rather than deposit accounts with interest or overdrafts. Verify current terms with Payoneer. This is general information, not advice.

How much does a Payoneer account cost?

There is no monthly fee. Payoneer charges an annual account fee of about USD 29.95, which is waived if you receive more than USD 6,000 in any consecutive 12 month period. Transaction based fees such as a 1 percent charge on some marketplace payments and currency conversion costs also apply, as of 29 May 2026.

Which countries can use Payoneer?

Payoneer is available in more than 190 countries and territories, though some services and the card are restricted in certain places, including for residents of Russia, India and OFAC sanctioned countries. Confirm availability for your country with Payoneer, as of 29 May 2026.

Who is Payoneer best for?

It suits freelancers, marketplace sellers and ecommerce businesses that receive cross border payments from international clients or platforms. Businesses that need cash handling, local deposit protection or overdrafts may prefer a bank account. Compare the trade offs before deciding.

Fees, features, and eligibility change and vary by region. This page was last reviewed on 29 May 2026. Confirm current terms with Payoneer before applying.