How does Payoneer work in the Philippines?

Payoneer is a financial services company that provides online money transfer, digital payment services, and provides customers with working capital. In the Philippines, Payoneer operates much like it does in any other country. Here’s a step-by-step guide:

1. Sign Up: First, you need to create a Payoneer account. This process is free and can be done on the Payoneer website.

2. Receive Payments: Once your account is set up, you can start receiving payments. Payoneer allows you to receive payments from foreign clients or companies in multiple currencies.

3. Withdraw Funds: You can withdraw your funds from your Payoneer account to your local bank account in the Philippines. The funds will be converted from the original currency to PHP (Philippine Peso) based on the current exchange rate.

4. Use Payoneer MasterCard: Payoneer also provides a MasterCard that you can use to make purchases or withdraw cash from ATMs worldwide.

5. Payoneer Billing Service: You can also use Payoneer to request a payment from your clients. This service allows you to send a bill to your client’s email, and they can pay it using their credit card or eCheck.

Remember, while Payoneer provides a convenient way to receive payments from abroad, it does charge fees for some of its services. Always check the current fees on the Payoneer website.