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Payoneer MasterCard – The Payoneer MasterCard is a debit card that card is used to shop online or withdraw from any ATM machine. The Payoneer MasterCard can be gotten by creating a Payoneer account. Payoneer Inc. was founded in 2005 by Yuval Tal. The company has since grown to be a leading money transfer platform.
When you sign up for a Payoneer account, you get a foreign bank account and a free MasterCard shipped to you anywhere in the world. If you work on platforms like Fiverr, Upwork, and Clickbank, you could receive payments from these companies through a Payoneer account.
The Payoneer MasterCard can be used to shop on any online store. It can also be used at any ATM with the MasterCard logo.
How to Register for A Payoneer Account
Visit the website at payoneer.com and click the signup button. Enter your correct details and provide every information required.
You will be required to enter your identity card details. Enter it correctly and click on the order button.
The card will be shipped to your address for free. I got mine within 3 weeks of waiting at the NIPOST office.
After you have successfully gotten your Payoneer MasterCard, login to your account and activate it.
How to Fund Payoneer MasterCard
While you have gotten your MasterCard, you need to fund it to start using. One of the problems with Payoneer is this; they won’t let you fund your account from another bank or through credit/debit card. They only accept funds from partner companies and other Payoneer users.
To fund your pay sooner account, you can buy funds from other users. You pay them in cash and they send the funds to your pay sooner account.
Like I said earlier, another way to fund your account is through partner companies. Payoneer was initially created to receive payments from foreign companies. There are over 200 companies that partner with Payoneer. You can work for these companies online and get paid to your Payoneer account.
Payoneer charges you for checking your account balance through ATMs. They also charge you when you withdraw cash from your local ATM. We have in details how much Payoneer charges you for transactions;
| Transaction | Fee |
| Receiving payments from another Payoneer customer. | Free. |
| Receive Payments via the receiving account. | Free for EUR, GBP, JPY, CNY*. 1% for USD. |
| Receive Via Credit Card. | 3% for all currencies. |
| Receiving Via E-check. | 1%. |
| Via Market places and Networks. | Each market place or network may have different fees. Check their website for more info. |
| Make payments to other Payoneer customers. | Free. |
| Withdraw funds to a bank account in a different currency. | 2% above mid-market rate. |
| Withdraw funds to a bank account in the same currency. | 1.50. |
How to Withdraw From Payoneer Account
You can withdraw from your Payoneer account using the Payoneer MasterCard. Go to any ATM machine with the MasterCard logo, enter your pin and withdraw. Most ATMs in Nigeria have the MasterCard logo.
You could also withdraw by using your Payoneer MasterCard to fund your Alat account. Once the funds is in the Alat account, you can withdraw through your Alat MasterCard.
Have you applied for and gotten your Payoneer MasterCard? How long did you wait to get it?
