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How Payoneer Works: Complete Guide
Want to know what is Payoneer and how it works? Let me tell you that you’re in the right place, because whether you’re a long-time freelancer looking to expand or you’re just starting out as an independent worker, with this guide you’ll be able to learn in detail about one of the world’s most recognized international payment platforms
How do you receive money from abroad? What are Payoneer’s fees? How do you withdraw your balance in Argentina? All this and more in this article
Let’s get started!
What is Payoneer and how does it work?
Payoneer is a platform that lets you receive, send, and manage international payments It works like a virtual bank account in various currencies, so it is especially relevant for freelancers, remote workers, or people who have clients abroad.
By opening an account on Payoneer, you get a virtual account number that you can use to receive payments from platforms like Upwork, Fiverr, Airbnb, Amazon, and more.
Main features of Payoneer:
Receiving international payments in dollars, euros, and other currencies.
Transfers between Payoneer accounts at no cost.
Ability to withdraw funds to your belo wallet, local banks, or ATMs.
Payoneer prepaid card for purchases and withdrawals abroad.
Payoneer Argentina: how it works
To start using Payoneer in Argentina, first you need to access the official website or the app. From there, the registration process is very simple.
Open your Payoneer account with this step-by-step guide
Click the “Open my account” button
Fill out the form with your personal details: First name, Last name, mobile number, date of birth…
Create your username, password, and provide your local bank account details.
Accept the terms and conditions, and submit the form.
The Payoneer team will review your application and, once approved, will send you an email. Keep in mind that this process can take up to 5 business days and in some cases they may ask you for additional documents, such as:
A photo of your ID card.
A utility bill (electricity, water, landline phone) with your name and address.
A bank account statement or credit/debit card statement.
Payoneer limitations for opening an account
Payoneer does not allow account opening to make non-commercial transfers, such as sending money to family, friends, or receiving funds from a personal account abroad. Transactions must be linked to work or professional activities, such as receiving payments from clients, companies, or freelance platforms.
4 ways to receive money in Payoneer
Payoneer offers multiple payout methods. You can receive funds from clients and marketplaces around the world through any of the following methods:
1. With local bank details
Your Payoneer account gives you bank details for the United States, Mexico, the United Kingdom, the eurozone, Japan, China, and Australia. Clients and marketplaces can pay you as if they were transferring to a bank account in their own country, and you receive the funds directly in your Payoneer balance.
2. With a payment request
With Payoneer, you can send a personalized payment request to your clients so they can transfer funds using the method that is most convenient for them, such as credit card, bank transfer, or ACH. In addition, you can track the payment status in real time, making sure it reaches your Payoneer account quickly and securely.
Guide to create a payment request in Payoneer:
Log in to your Payoneer account
Click on “Receive” > “Request a payment”
Add your client’s name or email and click “Next”
Fill out the form with the person’s or company’s details
Enter the amount you want to collect, the currency, and a description
Attach invoices or other documents you consider necessary
Review that all information is correct and click the “Request payment” button
3. With marketplace integration
Payoneer works with a broad network of marketplaces and global platforms such as Airbnb, Upwork, Fiverr, Shopee, and Getty Images, among many others. This allows you to manage your payments quickly and securely. You only need to select Payoneer as your payout method on the platforms you use, and the companies you work with will automatically be linked to your account. The payments you receive will be deposited directly into Payoneer, simplifying the management of your income in one place.
4. From other Payoneer accounts
If your client or employer also uses Payoneer, they can transfer money to you quickly and free of charge from their account.
Payoneer fees
For receiving payments
From other Payoneer users: 0%
For payment requests: up to 3.99% if the client pays with a credit card, 1% with ACH bank debit (United States only), 3.99% + $0.49 with PayPal.
Directly from marketplaces and networks: the fees set by each marketplace, platform, and network may vary.
With local bank details: up to 1% to receive dollars. For EUR, GBP, and more it is free, as long as the amount is equal to or greater than the minimum set by Payoneer.
For withdrawals
For withdrawals in your local currency from a Payoneer balance in another currency: up to 3%
Withdrawal in a non-local currency: up to 3%
To see examples and get more details about Payoneer fees, go to this link.
Withdraw money from Payoneer simply and quickly in Argentina
If you want to withdraw your dollars, euros, or pounds from Payoneer without complications, belo is the ideal solution. By simply linking your Payoneer account from the belo app, you can access your balances, withdraw them, and use them both in Argentina and anywhere in the world
The funds are credited as digital dollars, which you can use at any time to pay, save, transfer, or convert to pesos, if you prefer. All of this is quick and straightforward
How do you convert Payoneer to Argentine pesos?
With belo it’s simple, as mentioned previously, the funds are credited as USDC in your belo account.
If you want to change the balance to pesos, you can do it in one click with the “Exchange” button on the main screen. The exchange rate appears on screen and is based on the current USDC rate at that moment.
Other ways to use your balance
Another option is to keep the balance in USDC and use the belo Mastercard to pay at any store (physical or online). It is a prepaid card that lets you pay in the currency of your choice: pesos, BTC, ETH, USDT, or USDC. Belo takes care of the automatic conversion to pesos at the time of payment.
In addition, you can use your balance by scanning any QR code in Argentina directly from the app. That way, your USDC are automatically converted to pesos and you can pay quickly, simply, and securely at any store that accepts QR.
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