Global Payment Service - FAQ
What is the Global Payment Service?
The Global Payment Service enables businesses to work with international clients without worrying how to get paid. Payoneer provides you with your own personal receiving account(s) in the US, EU or UK which allows you to receive bank payments from companies as easy as a local transfer. Any payments made are then automatically transferred to your Payoneer account, which you can withdraw directly to your local bank account, wherever you are. The Global Payment Service removes the complexity of being paid by your global clients while reducing the cost.
What currencies can I receive with the Global Payment Service?
- USD from companies in the United States. Transferred via ACH
- EUR from companies in Europe. Transferred via SEPA
- GBP from companies in the United Kingdom: England, Northern Ireland, Scotland, and Wales. Transferred via BACS and FPS
How do I receive funds via the Global Payment Service?
Contact your client directly with the details of your receiving account and start getting paid at any time. Payments to your receiving account will be automatically deposited directly into your Payoneer account within 3-5 business days.
Alternatively, you can “Request a Payment” from your Payoneer account. This option offers your clients several ways to pay, including credit card, eCheck or local bank transfer (via the Global Payment Service), depending on availability.
Where can I view my Global Payment Service details?
To view the details of your receiving accounts, please log in to you Payoneer Online Account and select the "Global Payment Service" tab located under the "Receive" menu. From here, select the relevant currency in order to view the details of your receiving account.
Why don’t I have access to all available Global Payment Service currencies?
We do not automatically provide access to all currencies for all Payoneer users. If you would like the ability to receive an additional currency, please contact us.
Why haven't I received my payment sent via the Global Payment Service?
Once a local bank transfer is made, it takes between 3-5 business days to be processed and reflect on your Payoneer Account. Please note that we cannot determine the date when the payer makes the transfer, as this is done with their bank.
If 5 business days have passed since the transfer was sent and it still doesn’t appear on your Payoneer account, please contact us with the following information:
- Name of the company that sent the payment
- Date that the payment was sent
- Payment amount
- Trace number (only relevant for the US Payment Service). Kindly contact the company for the trace number. The trace number must contain 15 digits and no other characters
- The last 4 digits of your Global Payment Service account number in the relevant currency. To find this, please log in to your Payoneer Online Account and select the "Global Payment Service" tab located under the Receive menu. From here, select the relevant currency in order to view the details of your receiving account.
- Screenshot of the transaction
I was asked to provide documents in order to continue using the Global Payment Service. How can I send them?
Log in to your Payoneer Online Account and select the "Global Payment Service" tab located under the Receive menu. At the bottom of the page you will see the option to upload your documents. Please make sure the documents are clear and in full size.
We accept the following file types: bmp, emf, gif, jpg, png, tif, pdf, jpe, jpeg, and tiff. (Jpeg files are preferred.)
Why am I being requested to provide documentation if I am already receiving payments via the Global Payment Service?
As a regulated US company and online service provider, Payoneer requires specific documentation to help ensure the security of our users and to comply with the rules and regulations imposed by the US government, MasterCard®, and our associated banks.
For this reason, we may ask for additional documentation even if you have already received payments in the past.
What should the payer enter as the recipient’s name when making a transfer?
The payer needs to enter your name as it is written in your Payoneer account. To check it, log in to your Online Account and select the "Global Payment Service" tab located under the Receive menu. Here you can find all of the details required to send a local bank transfer, including the “Beneficiary Name,” which is the name the payer will need.
What is the address of my Global Payment Service bank account?
Only international wire transfers require a physical bank address, and Payoneer’s Global Payment Service does not support wire transfers at this time. To view all necessary information to receive a local bank transfer via the Global Payment Service, log in to your Payoneer Online Account and select the "Global Payment Service" tab located under the Receive menu.
Why was my Global Payment Service disabled?
There are several reasons why this may happen. If your Global Payment Service has been disabled, please contact us for further assistance.
Can the Global Payment Service be used to receive payments from any company?
You can receive payments from any US, EU or UK company, in accordance with our Global Payment Service Terms & Conditions.
Is there a limit to the amount of money I can receive via the Global Payment Service?
Payoneer customers in India have a limit of $10,000 per transaction. Payoneer customers globally do not have any limitations on the amount of payments received via the Global Payment Service.
Please note that payments received vie the Global Payment Service are subject to approval by Payoneer before they are loaded.
What account type should I provide for initiating transfers via the Global Payment Service?
For USD transfers you need to select "Checking Account".
For all other Global Payment Service currencies there are no restrictions.
Are there any fees associated with the Global Payment Service?
There is no fee for companies on the Tungsten Network to use Payoneer’s Global Payment Service, however, there is an exchange rate fee for withdrawing the funds to your bank account. This fee is less than a standard bank wire transfer fee.