Payoneer · receiving accounts
Payoneer Business Account
Local receiving accounts in USD, EUR, GBP, AED and more — built for marketplace sellers, freelancers and exporters getting paid from abroad.
Is Payoneer Business Account worth it?
- free-zone companies: Payoneer Business Account onboards free-zone entities on its published criteria.
- startups watching fixed cost: Payoneer Business Account asks for no minimum balance and no monthly fee — workable before revenue is steady.
- founders outside the UAE: Payoneer Business Account onboards fully remotely — no branch visit required.
- import-export businesses: Payoneer Business Account covers USD, EUR, GBP, AED + — wide enough for regular foreign-currency flows.
Pricing
- Monthly fee
- AED 0
- Minimum balance
- AED 0
Eligibility
- Not suitable for
- businesses wanting a UAE-local IBAN or local payment acceptance — Payoneer is cross-border marketplace collection. Companies needing lending, cheque handling or a licensed bank account
Business operations
- Approval time
- 1–3 days
- Free-zone companies
- Yes
- Branch visit
- Not required
- Multi-currency
- USD, EUR, GBP, AED +
How onboarding goes
- Application: Submit the request through the provider’s channel and upload documents
- Compliance review: KYC checks and document verification
- Decision: Typical timing: 1–3 days
- Go live: Access activated and the product is live
Documents you'll typically need
- Valid UAE trade licence (mainland or free zone)
- Memorandum and Articles of Association
- Passports and Emirates IDs of shareholders and authorised signatories
- UBO (ultimate beneficial owner) declaration
- Office tenancy contract, Ejari or flexi-desk agreement
- Recent invoices or contracts for new companies; 6–12 months of bank statements for operating businesses
Typical pack for this category — the provider confirms the exact list on application.
Not for you if…
- You need broad FX coverage — only ~4 currencies supported.
Free to open. Receiving fees up to 1% (bank debit) / 3.99% (cards); currency conversion up to ~3.5%; USD 29.95 annual fee if volume under USD 6,000/12 months.
Verified answers
What are Payoneer’s receiving fees?
Receiving via a local-currency receiving account is free; receiving in a non-local currency, from a credit card (up to 3.99% + USD 0.49) or from an EU/UK/US bank account or ACH (1%) carries the fees listed on Payoneer’s pricing page. Payments between Payoneer customers are free.
Source: payoneer.com · verified
What do Payoneer withdrawals and cards cost?
Withdrawals to a bank account cost up to USD 4.00 when the recipient is in the same country, or 1.2%–4% with currency conversion. The card has an annual fee of USD 29.95, free standard delivery, and ATM withdrawals cost USD 3.15 (EUR 2.50 / GBP 1.95 / CAD 3.15 / JPY 470 equivalent) plus up to 1.8% / 3.5% depending on currency conversion.
Source: payoneer.com · verified
Frequently asked questions
Is Payoneer Business Account worth it for free-zone companies?
Yes — Payoneer Business Account onboards free-zone entities on its published criteria.
Is Payoneer Business Account worth it for startups watching fixed cost?
Yes — Payoneer Business Account asks for no minimum balance and no monthly fee — workable before revenue is steady.
Is Payoneer Business Account worth it for founders outside the UAE?
Yes — Payoneer Business Account onboards fully remotely — no branch visit required.