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Today’s freelancers have loads of options open to them when it comes to online payments. Besides Paypal, wire transfers, Skrill, World Remit and more, freelancers can also get paid via Payoneer.
Why do I think that Payoneer is a must have for freelancers? Read on.
What Is Payoneer?
Payoneer is a payment option which supports online payments. It allows people in over 200 countries to open US bank accounts (the Payoneer Global Payment Service).
This account is accessible online and can be used for all payment and withdrawal options.
Once you sign up and apply for Payoneer, which is free including shipping, you can have an all-around bank account operated from your PC or Smartphone.
You can then receive money through the [US] account number which is provided after signing up.
Accessing the virtual bank account is as easy as logging into your account using your email address and password.
Once logged in, you can see your balance, transactions, card number and everything else you’re used to doing with a physical bank account.
Benefits Of Payoneer
- Payoneer, way back when, used to allow users to link their PayPal accounts and transfer funds to and from there! However, the service was terminated three years ago due to reasons unknown to me. To say the least, their marriage had been very beneficial to freelancers. However, life had to move on after the divorce.
- It is accepted on major freelancing websites such as Upwork.com, People per Hour and Fiverr. Forex traders also use Payoneer to access their earnings as do affiliate marketers such as Amazon Associates.
- Remember I said that you’re provided with a US bank account. As such, your clients can send you money via wire transfer (from bank to bank). This is not limited to the US only as over 100 countries can send money directly to US bank accounts.
- You can make online payments such as shopping or buying software. You can use Payoneer to verify online wallet accounts such as Skrill Moneybookers. This article will guide you on how to verify a PayPal account.
- The juiciest part with Payoneer is the easy withdrawals. You can use it to withdraw your money from ATMs all over the world. You simply follow the normal withdrawal procedure, key in your PIN, select amount, withdraw and voila! You’ve got your money.
- The convenience of Payoneer does not stop there. If you are the impatient kind or if you need your money as soon as it is sent to you, then you can cut the waiting time from 2-3 days down to just 2 hours, for just an additional $2.5.
Payoneer deducts a one-off $30 from your earnings.
It will cost you only $3.15 per ATM withdrawal. To some, this might seem a lot, but if you go the traditional way of sending money from, say, Upwork to PayPal then from PayPal to Equity then a bank of your choice, then ATM withdrawal, it will cost you more than the $3.15.
Declined withdrawal charges are $1.
Bonus Points For Payoneer
The advantages of Payoneer never seem to run out.
As I sum up my experience, I want to show you how you can make money using Payoneer.
If you apply for Payoneer using the link I will share with you, the company will pay both of us $25. You’ll receive $25 and I will get the same.
To get this bonus, you have to sign up for this service and earn $1000.
This can be a one-time payment or accumulative (several payments that will add up to $1000). Once you get paid $1000 via Payoneer, you and I will both get $50.
I hope you can now see why I believe that Payoneer is a must have for freelancers!