Does Payoneer provide you with a bank account?

Yes, Payoneer does provide you with a bank account of sorts, but it’s important to note that it’s not a traditional bank account. When you sign up for a Payoneer account, you are given a virtual bank account in a US bank (First Century Bank or Bank of America), a European bank (Wirecard), a UK bank (Barclays), or a Japanese bank (JPMorgan Chase). This account can be used to receive payments from companies worldwide. However, you cannot deposit money into this account like a traditional bank account. It’s essentially a receiving account, and the funds can be accessed through your Payoneer card or transferred to your local bank account.