How to open a payment system account in Payoneer
Main characteristics and experience with the payment system
Cost
2750 USD
Beginning of cooperation
June, 2018
Last contact
September, 2023
Last update
June, 2024
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- Licensed by SEC (USA), Money Service Operator Licence (Hong Kong), Singapore, JFSA (Japan) as well as in Canada, Ireland and India;
- Current account opening is possible, as well as internet acquiring of bank cards (preferred);
- IT clients are favoured;
- It is possible to open an account for a U.S. company;
- Unique IBAN;
- Provider of Master Card;
- No minimum balance;
- No maintenance fees;
- Pre-approval is available;
- Financial services partner of Amazon;
- Do not provide IBAN
Cost
2750 USD
Beginning of cooperation
June, 2018
Last contact
September, 2023
Last update
June, 2024
General information and GSL rating
2005
Year of foundation
USA
Country of license issue
SEC
Regulator
GSL rating
Year of foundation
2005
History
Founded in 2005. Opened an office in Hong Kong in 2015, India, Japan and the Philippines in 2016, the UK and Spain in 2017, Latin America (Buenos Aires) in 2019, Ireland and Singapore in 2020
Personnel
There are English-speaking staff
Payment system owners
BlackRock Fund Advisors - 8,63%; The Vanguard Group, Inc. - 7,21%; Temasek Holdings Pte Ltd. - 5,63%; Susquehanna Investment Group LLC - 5,23%; Wellington Management Co. LLP - 3,40%; Millennium Management LLC - 2,83% et al.
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Minimum requirements
120 000
Minimal turnover, €
0
Minimal balance, €
No
Do they work with offshore companies
No
Do they require a substance
Minimal turnover, €
120 000
Restrictions by jurisdiction
It is possible to open an account for a US company
Restrictions by activity
Favour IT clients. Restrictions by activity: crypto, gambling, adult, etc
Tariffs and services
1 000
Array
1 000
Array
0
Account maintenance, €/month
—
Acquiring commission
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Outgoing payments - 3%. If payment within EU, UK or USA in account currency, the commission is 1,5 USD / EUR / GBP. If the account turnover exceeds 50 000 USD / EUR / GBP per month, the commission is 1,5% (in the account currency)
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When a customer pays by credit card - the commission is 3,99%. ACH payment - commission is 1%, PayPal - 45%. Free of charge - internal payments between clients
Account maintenance, €/month
A fee of 29,95 USD is charged if payments of less than 2,000 USD have been received within 12 months
Account opening procedure
Account opening terms
Case by case
Possibility of remote account opening
Yes
Business description
Detailed
Types of accounts
Current
Document requirements
Completed bank forms; copy of client's passport; proof of address; standard set of corporate documents
Possibility of remote account opening
It is possible to open an account and undergo identification remotely. If you wish, you can organise a personal meeting with a manager
Types of accounts
Current
Chances to open an account
Predictable
Business description (text description)
The requirements to the description of the activity are standard: a story about the current state of the business and its formation, disclosure of the source of origin of funds, biography of the account beneficiary and contact information
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