How to Send Money on Payoneer: The US Business Owner’s Guide

If your business works with international contractors, suppliers or partners, you need a fast and reliable way to send payments. Payoneer is a global payment platform that makes it easier for US entrepreneurs and expats to transfer money abroad without the delays and high costs of traditional banks.

In this guide, you’ll learn how to send money on Payoneer, the types of accounts you can pay into, the fees you should expect, and the exact steps to complete a transfer.

How to Send Money on Payoneer

After you create, verify, and fund your Payoneer account, it’s simple to start sending money. There are two main ways to transfer funds from the US: to another Payoneer account or directly to a recipient’s bank account.

Payments to Another Payoneer User

1. Log in and start a payment: Sign in to your Payoneer account, then open the “Pay” section and choose “Pay to a recipient’s Payoneer account.”
2. Enter recipient details: Add the recipient’s email address, select which currency balance you want to use, and enter the payment amount. You can also include a short description or purpose for the payment to keep records clear.
3. Review and confirm: Check the payment summary, including any fees, and once everything looks correct, click “Pay.”¹

This option is fast, often free, and best for partners, contractors or suppliers who also use Payoneer.

Payments to a Bank Account

1. Access the payment option: Log in to your Payoneer account, go to the “Pay” section, and select “Pay to a recipient’s bank account.”
2. Provide bank details: Choose the balance you want to pay from, then select an existing recipient or enter new bank account information. Add the payment amount, currency and a reference or description for clarity.
3. Finalize the transfer: Review the details on the confirmation screen, including the applicable fees and exchange rates, then click “Pay” to complete the transfer.²

Bank payments are convenient for recipients who don’t have Payoneer, though they can take a few business days to arrive and usually involve fees, especially for international transfers.

Types of Accounts You Can Send To

Payoneer supports multiple payment destinations, giving US businesses flexibility when managing domestic and international obligations:

• Other Payoneer Accounts: Quick and often fee-free transfers between Payoneer users, commonly used by freelancers and vendors.
• Bank Accounts: Direct transfers to US and international bank accounts, useful for suppliers or employees without Payoneer accounts.
• Other Providers: In some cases, payments can be routed to third-party providers such as Wise Business, depending on the setup.

Understand which option works best for your business to ensure a balance of speed, cost, and convenience.

Wise Business: An All-in-one International Accounts with No Hidden Fees

Payoneer Fees for Sending Money

Like most financial platforms, Payoneer charges fees depending on where the money is going and whether a currency conversion is required. Here’s a simplified breakdown.³

Exact fees vary by account type, currency and destination. Always review the transaction summary before confirming a payment.

Best Practices for US Businesses

To get the most value from the platform, it’s important to build good habits around how payments are managed.

• Verify fees and exchange rates: Before completing a transfer, always review the final cost. Small percentage differences can add up quickly, especially for recurring international payments.
• Stay compliant with IRS rules: International transfers may need to be reported for tax purposes. Keeping organized digital records of all Payoneer transactions helps your business stay compliant and avoid penalties.
• Use payment descriptions: Adding clear notes for each transfer makes it easier to identify expenses later. This simple step can streamline bookkeeping and simplify audits.
• Maintain balances in multiple currencies: If your business pays suppliers or staff in different countries, holding funds in those local currencies can reduce conversion costs and speed up payments.
• Schedule payments strategically: When possible, align transfers with favorable exchange rates or plan ahead for recurring expenses, such as payroll, to avoid last-minute fees.

These practices help US businesses control costs, reduce compliance risks, and keep international payments running smoothly.

Final Thoughts

For US entrepreneurs and expats, Payoneer offers a practical way to pay overseas suppliers, freelancers, or partners without the high costs and delays of traditional banking. By understanding the supported accounts, fees and transfer steps, you can confidently manage international payments and keep your business running smoothly.

Frequently Asked Questions

How Do I Send Money to Payoneer?

Funds can be received into your Payoneer account from client payments, online marketplaces, or linked bank accounts. Once available, you can use that balance to send money.

Can US Citizens Use Payoneer?

Yes. US citizens and businesses can register for Payoneer, provided they complete the identity verification process and meet compliance requirements.

Is Payoneer Safe for Business Transactions?

Yes. Payoneer is a regulated financial services provider. It uses encryption, compliance monitoring, and authentication tools to protect accounts and payments.

Save Time and Money On Overseas Payments With Wise Business

Wise Business can help you save big time on international payments.

Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in currencies.

Signing up to Wise Business allows access to BatchTransfer which you can use to pay up to 1000 invoices in one go. This is perfect for small businesses that are managing a global team, saving a ton of time and hassle when making payments.

Some key features of Wise Business include:

• Mid-market rate: Get the mid-market exchange rate with no hidden fees on international transfers

• Global Account: Send money to countries and hold multiple currencies, all in one place. You can also get major currency account details for a one-off fee to receive overseas payments like a local

• Access to BatchTransfer: Pay up to 1000 invoices in one click. Save time, money, and stress when you make 1000 payments in one click with BatchTransfer payments. Access to BatchTransfer is free with a Wise Business account

• Auto-conversions: Don't like the current currency exchange rate? Set your desired rate, and Wise sends the transfer the moment the rate is met

• Free invoicing tool: Generate and send professional invoices

• No minimum balance requirements or monthly fees: US-based businesses can open an account for free. Learn more about fees here

Use Wise Business >>