The following article will provide users with some information related to the Payoneer card such as: What is a Payoneer Card and how does it work,… Let’s explore with Vietnam-Ustrade.org!
What is a Payoneer Card?
The Payoneer Card is quite similar to a Mastercard, but this card is used for payments whereas Payoneer is just a card used for withdrawing money from abroad. After completing the registration process for a Payoneer account, users will own a Payoneer account capable of withdrawing directly to domestic bank accounts in Vietnam.
Payoneer is a company established in the US since 2005. It specializes in providing payment solutions for individuals or companies, organizations, businesses,… The company’s headquarters are located in New York City, USA, with additional representative offices in several countries worldwide.
Should You Use a Payoneer Card?
This is a question that most users ask. To answer this, users need to know some advantages of using a Payoneer card such as:
- Provides fast and secure currency transaction services. Unlike other banks, Payoneer takes only a few days, up to 4 days, to complete international payment transactions.
- The support team of Payoneer is quite professional, enthusiastic, and dedicated. With 24/7 online support, Payoneer is ready to assist with any questions or issues encountered while exploring or using a Payoneer account.
- Since its launch over 10 years ago, Payoneer has not encountered any cases related to scams or hacking,… nor has it received any negative reviews from customers. Therefore, it is not surprising that Payoneer has become one of the preferred payment methods both domestically and internationally.
Steps to Use a Payoneer Card
Step 1: Visit the official Payoneer website at https://www.payoneer.com/ to register an account following the system’s instructions.
Step 2: After registering, the system will require users to verify their personal information with identification documents.
Step 3: With these two steps, users will own a Payoneer account. To receive a Payoneer card, users must request a card by providing their address information from step 1 to receive the card. The delivery time can be up to 5 days.
Step 4: Finally, to use the card comfortably, users need to activate it in a manner similar to activating a local ATM card.
Transaction Fees When Using Payoneer
Just like other payment service providers, Payoneer offers various fee levels to ensure the best service for customers. Payoneer also has some fee structures such as:
This fee applies to basic account holders. Premium VIP account holders will have different transaction fee rates depending on their account type.
In addition to these fee levels, when users perform transactions in USD or EUR, they will pay an additional intermediary fee from third-party transaction banks. However, this fee is usually negligible, and to avoid these costs, users can open third-party bank accounts at ACB or Vietcombank.
Advantages and Disadvantages of the Payoneer Card
To have an objective and comprehensive view of the Payoneer card, users should review some evaluations from users about this transaction card. First, let’s look at the advantages of using Payoneer:
Pros of Using Payoneer
- Although there is a cost for transactions in USD, this fee is quite small and much lower than many other account types.
- The account registration process takes quite some time, but the transaction settlement time is very quick, completed in about 2 to 4 days.
- Other cards often face issues like being locked or limited. However, Payoneer has addressed these issues. Thus, users don’t need to worry about these problems when using the card.
- Currently, Facebook ads is a popular advertising method. Therefore, Payoneer has integrated Facebook ads payment transactions, helping users more flexibly promote their brands.
Cons of Using Payoneer
Despite many advantages, Payoneer also has some disadvantages such as:
- Because Payoneer places a strong emphasis on security and customer identity verification, and being a company based in the US, the registration and card delivery process can take quite a long time.
- When using transactions via Payoneer, users do not receive any information support. They only receive transaction details via email.
- Although Payoneer is quite secure, the perceived level of security isn’t rated highly compared to many other high-security payment services like Paypal.
- Transactions in USD or EUR incur additional fees from the local bank.
Conditions to Register for a Payoneer Account
As a legitimate banking card, registering for an account here requires some necessary conditions such as:
- Being at least 18 years old.
- Having a valid email address for registration.
- Having identification documents like: National ID, passport, or driver’s license.
- Having a specific domestic bank account in your name.
- A home or company address,… so that the company can send the Payoneer card from the US to you.
Conclusion
Hopefully, this article will provide you with useful information about using the Payoneer card. This will help users have an objective and comprehensive view of Payoneer.
See more: Debit card
