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Payoneer Review
Name: Payoneer
Price : $29.95 yearly
Website: www.payoneer.com (referral link)
Rating: 75/100
Starting an online business or looking ways to make money online, you have to prepare yourself for how to receive payment. There are many ways to collect payment for your service or business. Receive check is the most common way, but quite a troublesome to go to the bank and bank in the check. My prefer way is using PayPal, it is very easy to use.
Like it or not, some company do not pay you through PayPal. They either pay you by mailing the check or direct bank transfer. Ever heard of people selling their product on Amazon? It calls Fulliment by Amazon in short, they call it FBA. So when products sold mean there a profit, it’s time to collect your cash. For US resident it easy for them, they have local bank where the money can be transferred by Amazon. How about you and me who are non-US resident? Here come a solution. Payoneer might be your option to collect payment, but is Payoneer a Scam? We are going to find out.
What is Payoneer?
Payoneer is a global collection service that serves more than 200 other countries. Which allow you to collect payment internationally. It’s suitable for individual or small company starts up. Signing up just pretty simple goes to their website and fill in your information.
Pro
- Prepaid Debit Cards
- Collect and make payment to worldwide local banks
- Draw cash from an ATM (When you already have credit)
- Local and global e-wallets
- Live chat support
Con
- Not Free
- Yearly fees $29.95
- High fees when transfer money and collect payment
For Whom
If you are a ClickBank affiliate or vendor I highly recommend you to sign up a Payoneer account to receive your commissions. As ClickBank usually send out checks to their vendor or affiliates. For non US resident bank with a foreign check have lot of handling fees. Which not a positive point for you.
If you are affiliate of any other program that allow to pay you through PayPal. Then you need not to have a Payonner account.
My partner Rizal and I are learning how to run an FBA business. Most of the advice out there is to have a Payoneer account so we did have one. As our FBA business make some sales and money is transferred to our Payoneer account. We find that the fees are kind of high, so we look for other option. We find out that Amazon actually can pay to our local bank. We will be switching to collect our payment to our local bank.
Conclusion
Is Payoneer a scam? No, it is trusted company that makes individual and small business owner have a better way to do business. As I have mentioned above the Pro and Con, from my own point of view. The option for whom should use Payoneer, hope it helps to have better picture which ways you like to collect payment with your successful online business.
What you think of Payoneer? Feel free to drop your comment below?
