A receiving account is essentially a set of bank account details based in a specific country and currency (see supported countries/currencies here). You provide these bank account details to your clients or marketplaces you work with in those countries, in order to receive payments via bank transfer directly into your Payoneer account.
Receiving accounts, as in their name, can only be used for receiving funds, and not for sending funds.
Receiving accounts enable you to receive payments via bank transfer via various routes. The routes available to you are based on account type and other eligibility criteria. You’ll see available options in your account when you request receiving accounts.
- Local transfers – get paid by local bank transfer in different countries as if you had a local bank account in that country. Transfers in each country are done via local payment networks (for example ACH in the US, BACS in the UK, and so forth). Once you are issued a receiving account for a specific country/currency, you can see the supported payment networks in the account guidelines in your Payoneer account.
- International wire transfers – get paid by wire transfer worldwide, via the SWIFT network. Getting paid via wire transfer is useful when your payers are located in countries where we don’t have receiving accounts for local transfers, in cases where there is no other option to get paid by your marketplace or client in the country from which they initiate the payment, or simply if you prefer to get paid in one single currency (for example, USD) by all your global payers.
- Domestic wire transfers – get paid by wire transfer locally. Domestic wire transfers are only supported for transfers in USD in the USA, Hong Kong, and Singapore. You may wish to get paid via domestic wire transfer in the USA if you need to receive your funds faster, and don’t mind paying the extra fees, or to receive payments from businesses in Hong Kong or Singapore that require payment in USD.
In addition to using receiving accounts to get paid by your clients and marketplaces, you can use them to add funds to your Payoneer balances from your own bank account. For more information on using receiving accounts for adding funds to your Payoneer balances, see this FAQ.
Please note: Typically, once assigned, your receiving account’s issuing bank cannot be changed. In certain cases, you may be able to request a different issuing bank. If you are experiencing issues with one of your receiving accounts, access our solution guide by opening the receiving account’s details page and clicking on the solution guide link. Choose the issue that best describes your problem and follow the guidance provided. If you still need further assistance, contact us.
To get started with receiving accounts, you request your first set of accounts for the countries where you do business. You may be asked to provide identity documents required by regulation in order to issue you the accounts. You may also need to complete the Receiving account questionnaire, which helps is better understand the nature of your business.
In some cases, we may also be required to:
- verify your bank account (you can learn more about bank account verification here)
- collect information about your company’s ultimate beneficial owners UBOs (you can learn more about providing UBO information here)
In such cases, we’ll send you an email requesting that you provide the information. The request will also appear in Verification Center. Please provide this information as soon as possible to avoid delays in receiving account approval and/or receiving your payments.
To request your initial set of receiving accounts:
- Sign in to Payoneer.
- Click on Get paid and choose Receiving accounts.
- Review information, and click Request accounts.
- Follow the on-screen guidance to select the receiving account or accounts that best suit your current business needs, based on the countries where you do business. You can always request receiving accounts for additional countries at a later time. You can see the list of available countries/currencies here.
- If needed, you’ll be asked to provide required identity documents and to complete the Receiving account questionnaire. We ask you for this information to better understand the nature of your business and to keep your account safe from fraud and identity theft. You’ll only need to submit these documents once.
- Once you provide all requested documents, you can track the approval status of the receiving accounts you requested from the Pending accounts tab in the Receiving accounts page. Approval times can range from up to several minutes to up to 3 business days, depending on various factors including your type of business and geographic location.
- When your receiving accounts are approved, they’ll appear under Approved accounts and you’ll be able to start using them to get paid.
Note: We recommend that you review the receiving account guidelines before sharing your receiving account details with your payers.
For a general explanation about getting started with receiving accounts, please see the question How do I get started with receiving accounts? above.
To request your first set of receiving accounts using the mobile app, follow these steps:
- Sign in to the mobile app.
- Tap Actions > Request receiving accounts.
- Review information and click Request accounts.
- Follow the on-screen guidance to select the receiving account or accounts that best suit your current business needs, based on the countries where you do business.
- Review and submit your request.
- If needed, you’ll be asked to provide required identity documents and to complete the Receiving account questionnaire. We ask you for this information to better understand the nature of your business and to keep your account safe from fraud and identity theft. You’ll only need to submit these documents once.
- You can track the status of document submission and approval by tapping Receiving accounts pending on the app home page. Approval times can range from up to several minutes to up to 3 business days, depending on various factors including your type of business and geographic location.
- When your receiving accounts are approved, they’ll appear under the Receiving accounts tab that you access by tapping any balance on the app home page. We’ll also notify you via email and push notification (to receive a push notification, make sure you have notifications enabled in the mobile app).
- Payoneer provides you with the details of a receiving account for a specific country/currency.
These details include a bank account number, beneficiary name, and other bank-related details. - You provide these details to the company or marketplace with which you work.
Please note: Make sure to provide all bank details listed for the receiving account, including the exact beneficiary name as listed there. In addition, make sure to specify the supported transfer network(s) for the specific receiving account. This is indicated in the guidelines for the receiving account. Finally, make sure to provide your exact business address as it appears in your Payoneer profile. - The company or marketplace uses these details to send you a bank transfer.
- You receive the funds to your Payoneer account.
Please note that while a receiving account has some functions of banking, it is not a bank account. Companies can transfer payments using your receiving account details, but you cannot charge your receiving account. Any charge attempts will be declined.
Local bank transfers
Companies or marketplaces located in the following countries can send you local bank transfers using the bank account details you provide them, in accordance with the Terms and Conditions of receiving accounts. When you provide those details to your payers, make sure they can pay you via one of the supported transfer methods, also listed below.
| Country/region | Currency | Local transfer method |
|---|---|---|
| United States | USD | ACH |
| Eurozone | EUR | SEPA Credit Transfer (SCT) or SEPA Instant Credit Transfer (SCT Inst) |
| United Kingdom | GBP | BACS, CHAPS, or FPS |
| Japan | JPY | Zengin |
| Australia | AUD | BECS, HVCS, or NPP |
| Canada | CAD | EFT |
| Hong Kong | HKD | Autopay, RTGS/CHATS, or FPS |
| Hong Kong | USD | N/A |
| Singapore | SGD | GIRO/ACH, FAST, or MEPS |
| Singapore | USD | N/A |
| United Arab Emirates | AED | RTGS and IPI |
| New Zealand | NZD | BECS |
| Mexico | MXN | SPEI |
International and domestic wire transfers
Companies or marketplaces can send you international or domestic wire transfers using the bank account details you provide them, in accordance with the Terms and Conditions of receiving accounts.
| Country/region | Currency | Wire transfer method |
|---|---|---|
| United States | USD | Fedwire via SWIFT |
| International | USD | SWIFT |
| Hong Kong | USD | Domestic wire via SWIFT |
| Singapore | USD | Domestic wire via SWIFT |
Please note the following differences between payments sent via local vs wire transfer:
| Local transfers | Wire transfers via SWIFT | |
|---|---|---|
| Length of time it typically takes for a payment to reach your Payoneer account | 1-3 business days | 1-3 business days Domestic wire (Fedwire) in USA: 1 business day Domestic wire (SWIFT) in Hong Kong/Singapore: 1 business day |
| Fees typically taken by third-party banks (before the funds reach Payoneer) | None | Average of 20-30 USD |
| Country of transfer initiation | Transfer must be initiated from the country associated with the currency (e.g., transfers in USD must be initiated in the USA; transfers in GBP must be initiated in the UK) | Transfer can be initiated from any country (except for domestic wire transfers in the USD, Hong Kong, and Singapore, which must be initiated in those regions) |
Note:
- You cannot receive payments from a company that is owned by you unless you are eligible to the add funds from your bank. Learn more about Adding funds to your balances from your bank.
- Payments received via receiving accounts are subject to approval by Payoneer before they are loaded.
- Payments via wire transfer (via SWIFT) from the following countries are not supported for receiving accounts issued by Citibank: Russia, Belarus.
- To be able to send payments via SWIFT (wire) transfer, your marketplace or client’s bank needs to support sending funds over the SWIFT network. (For example, Amazon US does not support funds transfer via USD wire transfers, only via local bank transfers (ACH).)
- If the company you work with has an online platform where you need to submit your banking information to receive payments, enter the details of your receiving account in the relevant currency and save your information. Pay careful attention to entering the correct beneficiary name, exactly as listed in your receiving account details. If you have any additional beneficiary names listed, you may also use those. Name mismatches can result in failed payments.
Please note that different companies have different ways of sending payments, so you may need to contact them if you have questions about their payment platform. - If the company you work with doesn’t have a unified payment platform, you can simply send the details of your receiving account by email to your contact person within the company. They can use these details to send you a local or wire bank transfer. Pay careful attention to providing the correct beneficiary name, exactly as listed in your receiving account details. If you have any additional beneficiary names listed, you may also use those. Name mismatches can result in failed payments.
- Alternatively, you can request a payment from your Payoneer account and your client will be able to pay you using your receiving account details. Other payment methods may also be available when paying via payment request.
Yes. For the exact guidelines for any receiving account you have been issued, please see the guidelines listed for the receiving account in your Payoneer account. View the guidelines by clicking on the relevant account on the Receiving accounts page.
Below are some general guidelines when it comes to using receiving accounts:
| Guideline | Notes |
|---|---|
| Only payments for business transactions from business accounts are supported | |
| Payments from personal bank accounts will be declined | |
| Payments made from a bank account in your name will be declined | Transfers from a bank account in your name will be accepted when using a receiving account to add funds from your own bank |
| Funds transferred to your USD balance from a bank account in a different currency must be converted to USD before making the transfer | Relevant for wire transfers to USD receiving accounts |
| Funds transferred to your AUD balance from a bank account in a different currency must be converted to USD before making the transfer | Relevant for wire transfers to AUD receiving accounts |
| To receive transfers to your EUR balance from a bank account in a different currency, funds must be sent in one of the following currencies: USD, GBP, AUD, CAD, CZK, DKK, HUF, ILS, NOK, NZD, PLN, SEK | Relevant for wire transfers to EUR receiving accounts |
| To receive transfers to your GBP balance from a bank account in a different currency, funds must be sent in one of the following currencies: USD, EUR, AUD, CAD, CZK, DKK, HUF, ILS, NOK, NZD, PLN, SEK | Relevant for wire transfers to GBP receiving accounts |
| Payments via a JPY receiving account must be sent under the name ﾍﾟｲｵﾆｱ ｼﾞﾔﾊﾟﾝ(ｶ | |
| Payments that do not use your beneficiary names as listed in your receiving account details may be declined | If a payment is sent to you under a beneficiary name not listed in your receiving account details, you may need to provide documents to prove the name’s association with your business before you can receive the payment |
To view the details of your receiving accounts, please follow the steps:
- Sign in to Payoneer.
- Click on the Get paid tab and choose Receiving accounts.
- Use the filters to help locate specific accounts.
- Click on an account to view its guidelines and bank account details.
To see details of your receiving accounts in the Payoneer mobile app:
- Sign in to the mobile app.
- Tap a balance.
- Tap the Receiving accounts tab to see receiving accounts details.
To share the receiving account details with a client who wants to pay you via bank transfer:
- Tap Share.
- Review the guidelines.
- Tap Share Account Details.
In certain cases, to ensure that you continue to receive payments smoothly, we may ask you to verify additional beneficiary names you receive payments under to prove the names’ association with your business. These names appear in your receiving account details under Additional beneficiary names.
Once listed in your account, your clients can use these names in addition to your standard beneficiary name when paying you.
Payoneer is licensed to issue receiving accounts in the UK via its UK legal entity Payoneer Payment Services (UK) Limited. When providing UK (GBP) receiving account details to marketplaces or clients, please specify Payoneer Payment Services (UK) Limited as the bank name.
To request receiving accounts in additional currency, choose to request more accounts in the Receiving accounts page, and follow the instructions. If you would like to clarify about the availability of a currency that is not shown, contact us.
To request additional receiving accounts in a currency you already have, choose to request more accounts in the Receiving accounts page, and follow the instructions. There is a limit to the maximum number of receiving accounts you can have in the same currency. This will be shown when you request the additional accounts.
Need an additional receiving account in the same currency for your Amazon store?
Follow these steps to add a new receiving account in the same currency:
- Sign in to Payoneer.
- From the main menu, go to Business networkand choose Store Manager.
- Inside Store Manager, click Add New.
- Follow the on-screen instructions.
- Sign in to Payoneer.
- Click on the Get paid tab and choose Receiving accounts.
- Click on the receiving account you’re trying to use with your payment provider.
- Click on the link to the solution guide.
- Select the issue you are having with your receiving account and follow the on-screen instruction.
To see details of incoming payments sent to you by clients or marketplaces via receiving accounts, go to the Transactions page of your Payoneer account.
The Future transactions table shows transactions that are pending but that have not yet impacted your balance. The All transactions table shows transactions that have impacted your balance.
Select a specific transaction in either table to see more details about it.
Payer information appears in the transactions table under the Description column. In addition, the name of the payer as reported by the processing bank is displayed in the Transaction details section (available by selecting a transaction in the table). Look for: Payer name (from bank).
If you are experiencing issues with one of your receiving accounts, you may be able to solve those issues by following the guidance in our solution guide. To access the solution guide, open the details page for the receiving account and click on the solution guide link. Choose the issue that best describes your problem and follow the guidance provided.
Make sure to provide your clients with the details of your receiving account exactly as they appear in the relevant receiving account details. Pay careful attention to ensuring your clients use the beneficiary names as listed. If you have any additional beneficiary names listed, you may also use those. Payments sent under names that are not listed in your receiving account details may be declined.
If you still need further assistance, contact us.
Local bank transfers and wire transfers can take up to 3 business days to be processed and reflected in 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 your payment has not arrived within 3 business days from it being sent by the payer:
- Ensure your payments are from initiators that meet the account guidelines.
- Verify that you don’t have outstanding requests for information in Verification Center that must be completed before the payment can be delivered. See more details here.
- If 5 business days have passed and the payment still doesn’t show up in 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
- The last 4 digits of your receiving account number in the relevant currency
- Screenshot of the transaction
- Additionally, for USD transfers, include the trace number. The trace number must contain 15 digits and no other characters. Please request the trace number from the company that sent the payment.
As a regulated 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 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.
For more information on acceptable documents and how to provide them, please visit this FAQ.
For more information on how to complete the Receiving account questionnaire, please visit this FAQ.
For information on providing business ownership information, please visit this FAQ.
The payer needs to enter your beneficiary name as it is written in your Payoneer receiving account details. To check it:
- Sign in to Payoneer.
- Click on the Get paid tab and choose Receiving accounts.
- Click on the receiving account whose bank account details you need.
- Copy the beneficiary name and provide it to your payer.
- If you have additional beneficiary names listed for that receiving account, you may also use those
Generally, you will not need to provide a bank address when providing bank account details.
For local bank transfer to your EUR receiving account and for USD wire transfers, you may be asked for a bank address. Look for the bank address details together with the rest of the bank account details.
There are several reasons why this may happen. If your receiving accounts have been disabled, please contact us for further assistance.
Payoneer customers globally do not have any limitations on the amount of payments they can receive via receiving accounts.
Fees associated with getting paid via receiving accounts vary depending on country and currency, and range from free to a small percentage of the payment.
If you are a Payoneer customer, you can see the exact fees that apply to you in the guidelines for using your receiving accounts in your Payoneer account (click on a listed receiving account to see its guidelines), as well as in the Pricing and Fees page.
A general overview of our fees is available here.
Note: For wire transfers, there may be fees taken by intermediary banks that participate in sending funds from one bank to another. These fees average around 20-30 USD (or equivalent). These are not within Payoneer’s control nor does Payoneer know in advance what those fees might be.
For step-by-step instructions, please choose the relevant Amazon platform:
- Amazon US
- Amazon EU or Amazon UK
- Amazon Japan
Because Google only pays to local bank accounts, you will only be able to receive payments from Google Ireland (since Citibank EUR receiving accounts are issued by Citibank Europe, which is based in Ireland).
When providing your receiving account details to Google, keep in mind that Google requires a match between the country of the receiving account bank and the country of the specific Google entity (for example, Google UK will only pay out to a bank account located in the UK). To see the address of the bank associated with a specific receiving account, in your Payoneer account click on the receiving account to review its details. The bank location can be seen under Account details in the Bank address line.
When providing your receiving account details to your clients to receive payments, keep the following in mind:
- Receiving accounts are not debitable (cannot be charged), they can only receive funds.
- Receiving accounts cannot receive cash or check deposits, only supported bank transfers. To see what types of bank transfers are supported, review the guidelines for using your receiving accounts in your Payoneer account (click on a listed receiving account to see its guidelines). Note that the guidelines may differ per currency/per bank.
- Receiving accounts can generally only be used to receive business payments from other businesses. This means that your payer must pay you from a business account and not from a personal account. Review the guidelines for using your receiving accounts in your Payoneer account (click on a listed receiving account to see its guidelines). Note that the guidelines may differ per currency.
- When making a payment to your receiving account, the payer must use the supported bank transfer method for the specific receiving account country/currency. We recommend sending this information to your payer in advance. The supported bank transfer methods for each receiving account are listed in the Guidelines section of the receiving account details page.
- Make sure that clients are using the correct receiving account details, including the correct beneficiary name as listed in your receiving account details. Clients may only use your additional beneficiary names if they appear on the relevant receiving account details page.
Yes, if your receiving accounts is enabled you may start receiving funds prior to receiving the card; however, you will only be able to use the funds once the card is active.
