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.
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.
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.
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:
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.