Payoneer in South Africa | All You Need To Know About: Payoneer in South Africa, Payoneer MasterCard, Payoneer Withdrawal Method, Payoneer Customer Care, How to Create and Login Payoneer Account, How to Send Using Payoneer, How to Recieve Money Through Payoneer, Payoneer Contact Details in South Africa.
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- 1 Payoneer in South Africa.
- 2 How to Create An Account With Payoneer
- 3 How do I send and receive money through Payoneer?
- 4 What do I need to begin using Payoneer?
- 5 Sending money
- 6 Pay and get paid with Payoneer
- 7 With Payoneer you can:
- 8 Payoneer exchange rates
- 9 How much does Payoneer cost?
- 10 Receiving money
- 11 Withdrawing money
- 12 What types of services does Payoneer offer?
- 13 What types of transfers does Payoneer support?
Payoneer in South Africa.
In today’s borderless digital world, Payoneer enables millions of businesses and professionals from more than 200 countries and territories to connect with each other and grow globally through our cross-border payments platform. With Payoneer’s fast, flexible, secure, and low-cost solutions, marketplaces, networks, businesses and professionals throughout the world can pay and get paid globally, as easily as they do locally.
Payoneer’s mission is to empower businesses to go beyond – beyond borders, limits and expectations. In today’s digital world, Payoneer’s platform streamlines global commerce for millions of small businesses, marketplaces and enterprises from 200 countries and territories. Leveraging its robust technology, compliance, operations and banking infrastructure, Payoneer delivers a suite of services that includes cross-border payments, working capital, tax solutions and risk management.
How to Create An Account With Payoneer
- Go to Payoneer’s website and click “Sign up” or “Register.”
- Choose whether you are creating an account for personal or professional use. Enter your name, email address and date of birth.
- Enter your address and phone number.
- Your Payoneer username will be the email address that you entered in Step 2. Enter and confirm a password, and choose a security question and answer.
- Enter information for the account you’ll receive your clients’ payments to. Including the currency of your bank account, your account number and routing number, and the name of your bank. Agree to Payoneer’s terms of service before continuing.
- Check your email for a link asking you to confirm your Payoneer account. Once you click the link, you will be redirected back to Payoneer’s site. You will be asked to choose an additional two security questions. Click “Submit.”
- Payoneer will run a credit check to determine if you qualify for use of the Payoneer Prepaid Mastercard. This will take up to two business days. If you’re approved, you will soon receive an email update that your account has been fully unlocked. You should receive your Payoneer Prepaid Mastercard shortly.
- Receive your Prepaid Mastercard and start making payments. Once approved, you can begin sending and requesting payments through Payoneer. To confirm when your Payoneer Prepaid Mastercard will arrive, click the green “Click Here” button next to the “Application Status” bar. Have your recipient’s Payoneer email address on hand, and then transfer funds within your account limits. Your transfer will be complete within two hours. To check on your transfer, click “Payments History” under the “Account Activity” tab.
How do I send and receive money through Payoneer?
Before you can send or receive money, you’ll need to register for an account.
What do I need to begin using Payoneer?
To apply for a Payoneer Prepaid Mastercard, you will need:
- Your name, address, phone number and email address
- Your date of birth
- A unique account password and memorable security question
- Proof of ID
To send money to another Payoneer user, you need access to Make a Payment. Typically, Payoneer will only give you access if you’re already receiving payments through its partners or its Global Payment Service. Payoneer may also ask you to fill in a Balance of Payment (BOP) form in accordance with South African Reserve Bank (SARB) regulations before you’ll be able to start sending or withdrawing money.
To make a payment:
- Log in to your Payoneer account.
- Under the “Pay” tab, click “Make a Payment.”
- Enter your recipient’s Payoneer email address, the amount you want to transfer, the type of transfer you’re making and relevant notes.
- Click “Make a Payment” button.
You can see your recent payments by clicking “Payments History” under the “Account Activity” tab.
Pay and get paid with Payoneer
With Payoneer, freelancers can bill their clients and accept payments in more currencies, while businesses can pay overseas suppliers or send mass payments to contract workers. And Payoneer offers 24/7 customer support from a multi-lingual customer care team.
With Payoneer you can:
- Receive payments. Send a payment request and get paid in your Payoneer account. You can withdraw your funds at an ATM or transfer them directly to your bank account, which comes with a fee.
- Make payments. Send and receive payments between Payoneer accounts in South Africa and abroad free of charge.
- Send mass payments. Make mass payments to your freelancers.
- Automated payments. Set up automated payments.
- Escrow payments. Make secure B2B transactions with Payoneer’s escrow payments.
Payoneer exchange rates
While using Payoneer, you may be paid in one currency and withdraw the funds in another currency. In that case, you’ll pay a currency conversion fee of up to 2% above the mid-market rate.
How much does Payoneer cost?
Opening a Payoneer account is free, and Payoneer offers different ways to send and receive money in South Africa.
Make a Payment
Through Make a Payment, making and receiving payments as a Payoneer customer is free.
Global Payment Service
If you’re enrolled in the Global Payment Service, Payoneer will give you receiving accounts for US dollars (USD), euros (EUR), British pounds (GBP) and Japanese yen (JPY). This way, you can receive different currencies.
- For EUR, GBP and JPY: Free to receive money
- For USD: 1% fee
Receive payments from customers
When you use the Billing Service to receive payments, you’ll pay different fees for payment by credit card or eCheck.
- Via credit card (all currencies): 3% fee
- Via eCheck (USD): 1% fee
Marketplaces and networks
Marketplaces like Upwork and Airbnb set their own fees for withdrawing payments. Find rates on the platform you work with.
You’ll pay a different fee depending on whether you’re withdrawing the funds in the same currency or a different currency.
- Withdrawing money from your Payoneer account to a bank account in a different currency will cost you up to 2% above the mid-market rate.
- If you’re moving money into your bank account in the same currency you’ll pay US$1.50 (or equivalent) for the transaction.
If you are a high earner, you may have lower fees.
What types of services does Payoneer offer?
Payoneer offers three different payment services.
- Mass Payout Services. Payoneer helps marketplaces like Upwork and Airbnb send payments to freelancers and contractors.
- Billing Service. If you’re a business owner or a freelancer, you can request payment from your clients.
- Make a Payment. Send money to any other Payoneer account. You need to actively receive payments before you can access Make a Payment.
When you pay someone through Payoneer, the funds go into their online Payoneer account. After that, the payee has options for withdrawal:
- A prepaid Mastercard from Payoneer
- Local bank transfers in more than 200 countries, including South Africa. Payoneer calls this the Global Payment Service.
- Payoneer’s Make a Payment to send currency to other Payoneer accounts. For example, a manager can receive payment for a job, then pay employees from the same account.
What types of transfers does Payoneer support?
All transfers go through the Payoneer platform. You can send payments by:
- Credit card
- Local bank transfers
Your payee will receive your payment in their Payoneer account. The transfer should take no more than two hours. Recipients can withdraw funds by:
- Prepaid Mastercard from Payoneer
- Local bank transfer
Payoneer doesn’t offer physical branches. All transactions are processed online.
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