Payoneer?

Discussion in Personal Finance started by razelia • Sep 22, 2015.

  1. razelia

    razeliaActive Member

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    As a long-time user of Amazon Associates, I sometimes find it tiring to have to wait for my income checks to come in and for my bank to clear it - it at least takes 2-4 months or so.

    I heard Payoneer can provide a US bank account so that Amazon Associates can just deposit straight to their bank, and in turn Payoneer will add the money to your bank account. With that, you can then withdraw the funds either through their Payoneer debit card or to your local bank of choice.

    At least, that's what I know in theory. Has anyone ever tried Payoneer? I'm looking for feedback before delving into this. Thanks.
     
  2. Denis Hard

    Denis HardWell-Known Member

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    While yes it's possible to withdraw money you've earned using Payoneer, currently only Amazon sellers/affliates from 24 countries can withdraw money directly to their virtual U.S bank account. Find out first if yours is one of the 24 countries that Amazon permits to use virtual U.S bank accounts to withdraw their cash from Amazon.
     
  3. useweb000

    useweb000New Member

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    same problem here!!
     
  4. Ke Gordon

    Ke GordonWell-Known Member

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    I never heard of payoneer...Can someone explain how it works? Is it only available to Amazon affiliates? I know payoneer is something that might be available to those who use Amazon bill pay...I haven't really looked into that though. I am not sure how many people would try to it. This is one of the many services that Amazon offers.
     
  5. xTinx

    xTinxWell-Known Member

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    Actually, you can open up a Payoneer account whether or not you're an Amazon affiliate. I used to have Payoneer debit card. The company sent it to me after I opened an account. Although the process of withdrawing money was fine, I decided to discontinue my account because they took too much money from me not to mention a $25 annual membership fee. Worse, they had a promo some months ago, offering free membership to new members. It's great but really, I was kind of offended. They should've done this from the outset. I had to give up a great chunk of my hard-earned money in using Payoneer. Maybe the story's different for people living in developed countries but not for me. I'm fine with PayPal. I only lose a dollar for every bank transfer below the free threshold so no worries.
     
  6. Krissttina Isobe

    Krissttina IsobeWell-Known Member

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    I've heard of payoneer, but I only use paypal.com and it's a free account. I have books for sale at smashwords.com. and they have paypal.com payouts really fast! Amazon.com is set up it's own way, it's something that we all live with. Amazon.com is very trusted and so is paypal.com. Good luck with your amazon payments.
     
  7. Lushlala

    LushlalaWell-Known Member

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    I have no first hand experience of Payoneer, but sometime last year I did some research into alternative payment processors to Paypal and Payoneer's one of the ones I looked into. This was for a friend who couldn't access Paypal here. The reviews were not very good, with extortionate fees cited as one of the main problems. So bad were the reviews that my friend eventually decided to down all tools and give up online work. I personally wouldn't go with it, and would rather stick with Paypal.
     
  8. Ke Gordon

    Ke GordonWell-Known Member

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    Yuk! Payoneer sounds awful compared to PayPal. I am very happy with PayPal's services and I wouldn't trade them for the world. I especially like their debit card option which allows you to get your funds immediately if you want them..and who doesn't? I would feel sorry for people who live in a another country and have to rely on a different money system. Life is so much simpler with PayPal.
     
  9. CarlosTL

    CarlosTLNew Member

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    I actually have experience with Payoneer, what they offer you is a "virtual" US bank accounts, which is actually their bank account but they just give you a label field where your client will put your name then money flows to their account with that label and then they credit money to your account which you can withdraw at the ATM with their Master card (at a hefty fee).

    As for Amazon, I am not sure they will go for that since the virtual bank account is not really a bank account (i.e. not yours), so it is completely at their discretion to accept or refuse that service. (Knowing how twisted amazon are they will flat refuse).

    Keep in mind that many insist on using the cheque and not faster methods for a reason: they want to keep your funds for as late as humanely possible, the cheque is the best way to achieve that.

    Wouldn't really recommend Payoneer unless you don't have a choice, their fees are exorbitant.
     
  10. Vinaya

    VinayaActive Member

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    I have used payoneer and even withdrew amazon income through payoneer. If you apply for payoneer, you will get a payoneer master card and a account with Bank of America. You can use your bank details for Amazon. Since you get a physical card you can use it in ATM.