International business account provider

Payoneer

Global business payment platform

A global business payment platform for receiving, holding and paying. Payoneer states that it is not a bank or a deposit-taking institution.

At a glance

Provider type: Global business payment platform
Legal model: Regulated payments provider. Explicitly not a bank or a deposit-taking institution.
Global reach: Very high
Business eligibility: Businesses, freelancers, ecommerce sellers and marketplaces operating globally.
Multi-currency: Receive in 70+ currencies. Local receiving details in 13 currencies. Hold multiple core currencies.
Local receiving details: Local receiving account details in 13 major currencies.
International payments: Send and receive across 190+ countries and territories.
Cards: Physical and virtual cards for eligible business use cases.
Accounting integrations: Marketplace and business-platform integrations. Named accounting products are not listed.
Customer-money model: Segregated customer funds. Customer funds held in segregated accounts. Regulated in multiple jurisdictions.

What is this provider?

Payoneer is listed as a global business payment platform for businesses, freelancers, ecommerce sellers and marketplaces. The comparison emphasises local receiving details, marketplace receiving, multi-currency balances and global payments. It is not a bank.

Which businesses can open an account?

Businesses, freelancers, ecommerce sellers and marketplaces operating globally.

Company requirement: Not separately stated as an incorporation list.

Owner or director residence: Not separately stated.

Sector restrictions and any requirement for a local presence are not stated beyond that eligibility. A published focus is not a decision that your company can open the account.

Where is it available?

The published focus is businesses, freelancers, ecommerce sellers and marketplaces operating globally. Accepted incorporation countries and founder-residence rules are not listed.

Is this actually a bank account?

Business-finance platforms can provide account details, cards and payment infrastructure while operating under very different legal models.

Payment institution

Regulated payments provider. Explicitly not a bank or a deposit-taking institution.

Holding and managing currencies

Holding a currency, converting it, receiving it and sending it are separate functions. A currency count on its own does not describe which of those the company can do.

Three different figures are stated: receive in 70+ currencies, local receiving details in 13 currencies, and hold multiple core currencies. Those are not one currency count.

Receive in 70+ currencies. Local receiving details in 13 currencies. Hold multiple core currencies.

Getting paid internationally

Local receiving details can make it easier for customers to pay domestically even when your company operates internationally. Those details are not the same as a domestic bank account in that country.

Local receiving details in 13 currencies, including marketplace and international customer payments.

Local receiving account details in 13 major currencies.

Paying suppliers and contractors

Send and receive across 190+ countries and territories.

Cards and company spending

Physical and virtual cards are stated for eligible business use cases. Expense management is not separately stated.

Business cards: Physical and virtual cards for eligible business use cases.

Expense management: Not separately stated.

Accounting and finance integrations

Marketplace and business-platform integrations. Named accounting products are not listed.

What does the account cost?

Check current provider pricing. Monthly plans, payment fees, FX, cards, extra users and local payout fees can all change, and this comparison does not repeat a figure that is not captured here.

Fees vary by transaction. A current FAQ says no general minimum volume is required to open a business account.

How is business money held?

A bank deposit, a partner-bank deposit, safeguarded customer funds and an e-money balance are different legal arrangements. They should not be treated as equivalent.

Segregated customer funds

Customer funds held in segregated accounts. Regulated in multiple jurisdictions.

Protection depends on the legal entity and jurisdiction serving the business.