Pros and Cons of Payonner

Payoneer is a financial service company that provides online money transfer, digital payment services and provides customers with working capital. Receiving international payments through Payoneer can lower your fees up to 71%.

Account-holders can send and receive money into their bank accounts. It is quick and offers an easy solution to receiving payments worldwide. Freelance Payoneer users can get an ATM debit card that has a master card logo hence they can withdraw the funds from any ATM that accepts master card worldwide.

Pros and Cons of Payonner

Pros of Payoneer

  1. Easy signup process

It is easy to sign up for an account with Payoneer hence it makes many people use it as they do not need to travel from one place to another to sign up for the account. They do it from the comfort of their houses.

  1. Can get paid from anywhere

Provided the user has an ATM debit card that has a master card logo can withdraw funds from any place they are hence they are very convenient to their users.

  1. It sends money directly to your bank account

The Payoneer company sends money to their user’s bank accounts and they can withdraw the money from any place where they are.

  1. Sends money in different currencies

This allows most people to use it worldwide as the company will send the money into their accounts depending on their country’s currency.

  1. It is integrated with most top freelancing websites

The company is linked with the top freelancing websites hence it allows most freelancers to use the services as they can withdraw their money from any ATM.

  1. Allows the user to withdraw money from PayPal to Payoneer

This allows easy and fast transaction as the holder of the account can directly send his or her money to his account without necessarily traveling.

  1. Allows buying of stuff and making the payments

The holder of the account can purchase for the stuff online and pay for the goods directly from the account hence making it easier for the holder of the account.

  1. It gives free $25

When the account holder has the accumulative amount of money in the account more than $1000, they are given free 25 dollars hence it encourages people to save in the account

  1. Making online payments

When the account holder of Payoneer wants to buy a domain or pay for hosting, the company gives them the service hence it is very reliable to those who work online.

  1. Able to receive payments from affiliate networks

The holder of the account can receive payments direct into their accounts from different affiliate networks as they accept Payoneer global payments.

  1. Good customer support

They offer services to their customers in case of concern hence most people prefer using the account as they will be able to receive customer care services.

Cons of Payoneer

  1. It is costly

Receiving money through this account depends on the bank account the user is using as there is a fee that is charged on the transaction costs.

  1. Large fee for the renewal of the card

The bank charges a high fee when the account holder wants to renew the card hence it does not encourage many people to use the service.

  1. The live chat is not available throughout

The live chart of the company does not work throughout and this may inconvenience the user when they want to use the services at the time they are not live.

  1. You must sign up through a channel partner

It does not operate on its own and this makes the users sign up through channels. It only allows the users of PayPal account to use their services.

  1. They limit payments

They limit their account holders not to withdraw more than $1000. This may inconvenience large scale business operators as it may make them not to make the intended transactions.

  1. They may suspend the account without the holder’s notice

The company may suspend the account and this makes it difficult for the holder to withdraw money from it until the suspension period is over hence inconveniencing the holder of the account.

  1. Sometimes does not allow the transaction to mobile phone

With improving technology most people like to operate with their mobile phones and when the company does not allow people to make a transaction to their mobile phones, this makes them not use the service.

  1. Low forex rates

Forex rates that are allowed by Payoneer are lower than global rates and this makes many people not to use the account.

Summary

Payments through Payoneer accounts are easy and good but they need to check on the drawbacks to enhance efficiency in their working to attract more people to use the services. Currently, most people are not using the service worldwide as they have some restrictions that make it difficult for people to cope with.

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