Payoneer is one of the pioneers and leaders in cross border transactions. What does that does mean? Cross border means payments cross from one country to another.. or in one currency to another. Best way to explain is that you receive a payment from your client in the US and you are based outside the USA.
Signing Up is as easy as 1-2-3
See the banner – click to sign up…are you into Affiliate Marketing too? then go ahead and sign up and find out about their program.
Payoneer has more than 3 million users globally in 200 countries using 150 currencies.
One of the best things about payoneer is their card. All users can request for one and actually withdraw their money through any atm worldwide since it is supported by Mastercard. ( withdrawal fees of course applies) – Now no need to wait for your funds to get to your bank in the Philippines. Actually, No need to transfer it to your bank in the Philippines..lol
Another great thing about Payoneer is that, for virtual bank accounts, there is only a 1% fee on US bank account, but its free on UK and EU.
For example.. I bill my client in the USA though the payoneer billing system.. The client in the US has the option to pay via ACH or Credit Card.
ACH Payments – Automated Clearing House (ACH) is an electronic network for financial transactions in the United States. ACH processes large volumes of credit and debit transactions in batches. ACH credit transfers include direct deposit, payroll and vendor payments. ( from WIKIPEDIA)
If you are receiving funds to your US bank account -( yes, you will have one that payoneer will assign to you – cool right?) There is a 1% fee of the total amount – compare that to the fee for each transaction is 2.9% plus $0.30 USD of the amount you receive in paypal.. you already got a 1.9% plus change saving which means more earnings for you.
Besides that, Payoneer has lower forex exchange rates which start at 2% that can go lower to the higher volume you transact through them. Paypal according to a blog -https://www.currencyfair.com/blog/avoid-paypal-hidden-fees-for-international-money-transfers/ starts at 2.5% forex rate.
So, if you just base your savings on the facts we mentioned above. that’s at least 2.4 % savings or added income for you which roughly amounts to $240 out of $10000. $240 is roughly 10800 pesos at an exchange rate of 45 pesos to a dollar
Did I mention that you can get UK and EU bank account from payoneer to so that your clients can send payment directly there? And no fees!
Now, even if you are working at home as a Virtual Assistant or a Web Developer or Researcher, there is an alternative choice in getting your funds.