# What is Payoneer and how it works?

What is Payoneer and how it works?

##### Post Metadata
- Posted at: about 4 years ago
- Author title: Pinned by G2 as a common question
- Net upvotes: 2


## Comments
### Comment 1

Payoneer is an E-banking application that lets you open multiple "receiving accounts" corresponding to different worldwide currencies, under one Payoneer account. Whether you're a business and you're looking to pay your customers by answering their invoices, or you're a freelancer looking to be paid through invoice, you have the ability to receive and send money from and to -theoretically- everyone in the world using a local bank or a Payoneer account, as long as the "receiving accounts" match. 

It also gives you the ability to withdraw your funds directly to your local bank connected to your Payoneer account.

It gives you a total of 6 free receiving accounts or the most used worldwide currencies (USD/GBP/JPY)upon registration, an account of your local currency included.

Conversion fees (if applicable) and "transfer to local bank" fees are totally inexpensive.

After receiving a total of 100 of any currency, it gives you the ability to open more receiving accounts, which translates to more opportunities!

##### Comment Metadata
- Posted at: almost 4 years ago
- Author title: Freelance app reviewer/tester spiliotopoulosharris@gmail.com
- Net upvotes: 1


### Comment 2

It is a payment software, you get the money transfer to a bank account and use it. 

##### Comment Metadata
- Posted at: 6 months ago
- Author title: trainer




## Related Product
[Payoneer](https://www.g2.com/products/payoneer/reviews)

## Related Category
[Payment Gateways](https://www.g2.com/categories/payment-gateways)

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