Does Payoneer require a bank account for its services?

Yes, Payoneer does require a bank account for its services. When you sign up for a Payoneer account, you are asked to provide details of a bank account. This is because Payoneer operates as an online money transfer service, which means it needs a bank account to transfer funds to and from. The bank account also serves as a backup for withdrawing your funds in case you cannot access your Payoneer account. However, it’s important to note that the bank account must be in your name, as Payoneer does not accept third-party transfers.