Payoneer is one of the most popular money transfer service is back again in India, after closing operation in India for years. Payoneer is used to be one of the best alternative to PayPal back in these days, as it also used to provide Debit card, which is used for taking out cash money from the ATM. Again this time Payoneer resumed their service in India, with curtained some limitations as imposed by Reserve Bank of INDIA (RBI). Even though, this service is lucrative, as it will makes it very easier for all Indian bloggers & freelancers to get payment with fewer transaction fees than Paypal.
Important Note: You cannot get paid from everyone, as Payoneer let you accept the Payment in India only from some companies which are in their whitelist.
I contacted their Call Center with some queries:
Hey Team,
One of my top client who is an advertiser on my website is not on your white list database. Can I provide him my U.S bank service number, and he may transfer the all cash money using ACH or Wire transfer??
And the response I received was:
What is Payoneer and how it works?
Whenever you will sign up with Payoneer, it offers us US and EU Payment Service bank details, you might use it to get money directly to your own Payoneer account. It will directly transfer money into your local bank account on daily basis. You may use Payoneer- ACH transfers for US or SEPA transfers for EU.
Whenever you want to get money from any U.S. Client or European client, you may share your unique U.S or U.K. payment service detail (You will get the details under Payoneer account head) to get payment.
Whenever you use Payoneer instead of PayPal to receive money, you will save on Currency conversion & transaction fees. Blogger Amit highlighted that he was able to save about $5 when using Payoneer to receive money instead of PayPal.
I wouldn’t recommend Payoneer as the best alternative of Paypal, but it’s a best way to receive money from many companies that are popular among Indian freelancers and bloggers. The big benefit for blogger and freelancers is; you will save some notable fee in the transaction.
Important Note: Payoneer charges only $3 for every money transfer to your own bank account. So it’s advisable you to use it for bigger transaction only (Above than $80)
I recommend all Indian Affiliate Marketers, Bloggers, & freelancers to start using this Payoneer Service where ever possible instead of using PayPal. We will save some money in currency transaction & conversion fees. Some below mentioned are top services that you can use for Payoneer:
- Infolinks
- 99 designs
- Odesk Corporation
- Amazon.com
- Clickbank
- Truelancer
- Depositphotos
- GroupOn
- CPAlead
- eBay
- Elance
- GetttyImages
- People Per Hour
- ValueClick
- Prosperent
- PropellerAds
- SEDO
- Complete List of whitelisted merchants here.
This signup process is very simple to use, and you will be needed to provide your bank account details to receive your payment as the time of sign-up. Your account details will be approval within 24 hours, and once account has been approved you will receive your U.K and U.S Payment service details.
Get Instant $25 as a Bonus in your Payoneer account just by signup:
One more important reason for start using Payoneer. Whenever you signup for Payoneer and use it for $100 transaction, you will get paid a bonus of $25 just for using it. This is the only part of their launch promotion, and it is very lucrative enough for anyone.
(Also See: Some Extra Ordinary Ways for Earning)
Every Indian blogger can take this advantage of their referral program, as they also offer $25 referral bonus whenever your referred user complete their first $100 transaction.
Sign up with Payoneer and get paid instantly $25
Limitation for Payoneer in India:
· Limit of INR 5,00,000 per single transaction
· Monthly transaction limit is INR 2500000
· Daily amount transfer limit is INR 500000
Important Time Saving Tip: Start Saving your U.S or Europe payment service locally using Evernote or any note taking app. Using this way, you don’t have to login again and again to Payoneer every time to get the details.
It’s very good to see again Payoneer service in India, though I’m waiting for the day when Indian government will remove all the restrictions on services like Payoneer, PayPal, which will empower users like you and me to grow our online business in better way.
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