Payoneer is one of the best alternatives to Paypal that I found. I’ve wanted to apply for the Amazon Affiliates program for so long but since I’m not living in the US it’s almost impossible for me to receive payments. If you’re facing the same problem, this post is for you.
What is Payoneer?
Payoneer is Global Payment service which allows you to get your earnings from US & European companies directly in your bank account in your local currency at minimal cost. You’ll be provided with a US bank account number and routing number that you need to give your company to receive funds.
It’s like you have an account in US & Europe. Payoneer supports all big companies from US & Europe like Amazon, Google, 99Designs, Elance, oDesk, Getty Images and much more.
Why Payoneer?
They have the best payment program that allows global organizations to have flexibility to arrange how to receive their money by a secure method that best comforts them. Here are some of facts that I found out through my research and based on my experience in using their platform.
Secure – Payoneer is constantly improving their technology to ensure customer privacy and authentication. They comply with all applicable online payment regulations.
Safe – You will receive a replacement card and your balance will be transferred if your card had been lost.
Flexible – Payoneer offers scalable and customizable options for everyone. I allow others to load money onto your card and enable you to make fast bank transfers with the Global Bank Transfer Service.
Currency – No need to convert funds to your local currency. MasterCard automatically makes the conversion at competitive rates.
Easy to use – The Payoneer online banking platform is easy to use without too much technicalities.
Cost-effective – You will be able to avoid fees that are associated with sending money abroad. Payoneer have low monthly fees.
Financial Responsible – You will only spend the amount that is loaded on the card because it is a debit card, not a credit card. This will allow you to manage your budget responsibly.
Award-Winning – Payoneer had won the “Best Business to Employee Payment” award at the Pay Before Awards 2010.
Payoneer Fees
So here’s the real thing, I know you’ve been thinking about it.
When you receive payments both US and Euro is it absolutely free. When you withdraw funds it will be also free which mean you’ll get the exact amount that company sent you. Now, just like Paypal, you may want to consider the exchange rates.
Payoneer versus Paypal
Payoneer provides the best exchange rate compared to Paypal. This is because the conversion rates are based on official mid-market rate at the time of transfer.
*Mid-Market here refers to the middle point between the currency’s official “buy” and “sell” rate and is considered to be one of the best rates available. You can use the tools like XE to estimate mid-market rate.
Sign Up to Payoneer and Get $25 Bonus!
You will get this $25 when you receive at least $100 from any company support by Payoneer.
Get Started
Step 1 – If you clicked the button above to sign up it will redirect you to a page that looks the screenshot below. Simply enter your personal details and hit “Next”.
Step 2 – Next you need to enter your contact address associated with the bank account number followed by zip code and your mobile number. You need to verify your mobile number so be sure to use the one that is active and you can immediately access.
Step 3 – Next step is you need to enter your password and a security question.
Step 4 – Lastly, is you need to enter your bank account details followed by SWIFT/BIC code. Be sure to use the bank that you have access to and frequently use. Just follow the instructions to get the bank’s SWIFT/BIC code.
Heck yes! You’ve successfully created your account on Payoneer. The Payoneer team will review your details and within a day or two your account will be approved. Once you get an approval mail, just login and it’ll ask to create two security questions for account safety purpose. After updating the security questions, you’ll be redirected to your Payoneer dashboard.
Get your Payoneer Bank Details
Go to navigation bar and click on “Global Payment Service” like the one you see below:
Take note of the bank details because this is what you’ll need to add to your Amazon affiliates account.
Your earnings will directly transfer to this account and then Payoneer will transfer it to your bank account directly.
Change Payment Method In Amazon Affiliates
Step 1 – Log in to your amazon.com associates account and click ‘Account Settings’ link at the top right and then click ‘Change Payment Method’
Step 2 – Once you’re on Payment method page, change your payment method to ‘ Pay me by direct deposit (The United States Based Associates Only)’ and enter the details from Payoneer Global Services Bank details. Double check everything and submit.
And you’re all set! Congratulations! You now have a real way to get your earnings from your Amazon affiliates and you’re now free to try different income streams and opportunities for your business.
Melissa
Hi Janica, I configured my amazon and payoneer account 2 months ago, just like the way you explain it. I should already have received a payment in March but received nothing. I contacted amazon support and they are saying that payment with payoneer are not possible.
Is this method still working ? Could you please guide me ? Thanks
Janica Khemlani
Hello Melissa, good morning 🙂 Yes I still use payoneer for amazon it still works. Can you check your email if there is a transaction from amazon that they transferred money to payoneer? Let me know
Melissa
Hi Janica
Thanks for confirming this information. Unfortunately I haven’t received any emails telling me about a transaction. However, I see on my amazon affialiates account, payment history, that I should have received 2 payments (in february and march). Therefore, I have an unpaid balance.
Do you know whether this is normal or should I do something else ?
Ben Rei
Hello Melissa, sorry to get back to you late. By the way, Amazon pays their associates every two months. So in your case, your earnings last February will be paid on April and your earnings last March will be paid on May. You also need to have $10 earnings minimum so they can pay you. If for example, your balance is less than $10 that will be accumulated until you reach the threshold. Let me know if you have more questions 🙂
Melissa
Hi Janica and Ben,
I wanted to thank you for your advice and information. And to let you know that I received my Amazon payment thanks to Payoneer ! I am really happy that it works! Your article is great!!
Janica Khemlani
Hey Melissa! Yehey! Happy it’s all good in your end. 🙂
Leonilyn
Hello Janica, signed up with payoneer and on my way of updating my amazon payment method. is this safe? read somewhere that this can cause account termination with amazon. How long have you been using this method? Thanks..
Janica Khemlani
Hi Leonilyn, happy new year! I’ve been using Payoneer for almost a year now and it’s been amazing. I haven’t encountered any issues.
Leonilyn
Oh… thank you for the info.. Will push thru with my application..
Ben Rei
Hello Leonilyn, how was your application? Did everything go smoothly? 🙂
Leonilyn
Hi Ben, I had success with my application and withdrawal. The withdrawal took 4 days all in all from Amazon to Payoneer to my Local Bank..
Rene Dev
Hello again Nica & Ben,
I was about to sign up to Payoneer, but I was prompted to chose between Payoneer Card and Local Bank transfer,
So before I sign up, I’d like to ask you which one do you suggest.
Should I go with the Payoneer Card or the Local Bank Account option?
I’m not sure which one will be more suitable for me, I’m from Mexico and I want to use this not only for Amazon affiliate program, but also for payments from freelance work.
So please help me make up my mind on which option should I choose.
Thank you.
Janica Khemlani
Hey Rene! Happy New Year!!! 🙂 I suggest you choose Local Bank Transfer.
Rene Dev
Happy new year to you too!
Okay, is that what you are currently using?
If that’s what you suggest, then I’d go with that option as well.
Thank you!
Janica Khemlani
Yep! That’s what I use 🙂
Rene Dev
Hello Nica & Ben,
thank you for providing this step by step tutorial.
However, I have the following concerns.
Amazon needs 3 details: 1) Payment details, 2) Tax details and 3) Address.
Now, even if you provide US payment details using Payoneer, how will you provide the remaining 2 — Taxation and Local US address? it clearly says “only for US based affiliates”?
As you’ve said you got the payment using this method, what information did you actually provide. Do you have US Taxation details and the local Address?
Janica Khemlani
Hi Rene, good morning from here! 🙂 With regards to your question – when you sign up to your amazon affiliate account there will be a prompt (upper portion) that says you need to complete your tax info.
Go ahead and fill that up and for taxes there are some countries that are not bound to this (example is PH). Add your exact address details so Amazon can check – don’t worry as long as you provide the right info you’ll be OK.
Let me know if you need more details 🙂
Rene Dev
Good day Janica, thank you for your promptly reply.
So its fine if I put my local address even if its not from the US?
I’m from south America so I obviously don’t have US address.
Also, is this still working? I read that payoneer is no longer doing direct deposit for Amazon affiliate program:
http://community.payoneer.com/en/discussion/33251/receiving-payment-from-amazon-associates-uk
Can you confirm if you are still receiving payments from payoneer through direct deposit?
Thank you so much for taking your time and posting this step by step tutorial.
I really like your blog 🙂
Janica Khemlani
Hello Rene, sorry for a bit late reply. Yep it’s fine to put your local address. I’ve checked my account and I’ve received payments from Amazon. I think the link below pertains to Amazon UK. Thank you so much – it’s means a lot to us that you liked our blog! <3
Rene Dev
Hello Nica & Ben,
thank you for providing this step by step tutorial, very insightful and helpful.
However, I have the following concerns.
Amazon needs 3 details: 1) Payment details, 2) Tax details and 3) Address.
Now, even if you provide US payment details using Payoneer, how will you provide the remaining 2 — Taxation and Local US address? As Yoyesh Khetani has highlighted, it clearly says “only for US based affiliates”?
As you’ve said you got the payment using this method, what information did you actually provide. Do you have US Taxation details and the local Address?