Before I begin, click this link to set up your Payoneer account and see 10 questions before you use Payoneer in Nigeria. If you have already started using it, then read my article on HOW TO USE PAYONEER.
Let’s dig in.
1. What is Payoneer?
Payoneer is a financial business platform that provides online money transfer and payment services. It does exactly what Paypal does but without the hassle of Paypal, and thus anyone can receive US Dollars with Payoneer.
2. How does it work?
Payoneer allocates a virtual US account number to their subscribers. These details will contain your checking number and routing number. Those would be the detail you need whenever you want to receive payments into a US bank account. You will also be shipped a credit card to use.
3. Can we use Payoneer in Nigeria?
4. Can I embed Payoneer on my WordPress website?
It’s tricky. Payoneer does have a woo commerce plugin, it isn’t in itself a payment gateway. What the plugin does is to transfer money to another Payoneer recipient account through email.
5. What are Payoneer Transaction Fees?
The transaction fees charged by Payoneer are $2.99 for a local bank transfer and $15 for a USD SWIFT transfer. Payoneer charges fees of $4 or 1% of the overall amount for transfers in USD and EUR, but the fees can’t exceed $10.
6. When someone pays into my Payoneer account, how do I receive the money?
- You can either withdraw it using an ATM card issued by Payoneer. Click this link to set up your payoneer account.
- You can withdraw it to your local bank in Nigeria and then use the local bank’s ATM to access the money in Naira
7. What is the difference between Payoneer and Paypal?
Both are good options but are better for different circumstances. Payoneer is often used in unbanked or more 2nd/3rd world countries and charges fees to make money. Paypal is a popular eWallet solution in many countries but can be very expensive for higher payment amounts.– Quora
8. Is Payoneer safe to use?
Yes. Payoneer is a large, reputable and trustworthy business. Thousands of companies, marketplaces and individuals use Payoneer’s services to make and receive payments and send funds worldwide.
9. Is Payoneer in Nigeria free?
Yes. The account is free to open but there are fees for receiving, sending and withdrawing funds.
10. Can you transfer money from PayPal to Payoneer?
No. Payoneer does not have any problem with connecting your Payoneer account to your PayPal account. But PayPal does not allow this.