How To Get Payoneer Virtual US Bank Account - US Payment Service


Submitted by srk4you
May 11, 2012 - 1 year 4 weeks ago

Payoneer Virtual US bank account is an effective payment option or Payoneer MasterCard card holders. Payoneer Virtual Bank account is also known as US Payment Service. Payoneer cardholders can opt in to create a US Bank account at a US bank for $20 per year. It allows the recipient to receive funds from selected United States companies who are not yet Payoneer partners.

 

What is the fee for a US Bank account?

US Payment Service costs $20 per year (the yearly charge has been removed, no yearly charges apply now) and 1% of all transaction fees.
 
Is this a checking account?
Yes, Payoneer US Payment service is a virtual bank account and a checking account. However, you can only use it to receive funds and not send money from the bank account itself. Withdrawals can be made using your Payoneer card itself.

 

What are the eligibility criteria for Payoneer Virtual bank account?
 
To open a Payoneer virtual bank account, one must need to fulfill the required conditions:

1. Must be a Payoneer card holder. If you don't already have a card, you can get it for free here (click to get $25 bonus on your card).

2. Must have received at least 3 payments from any Payoneer card partners This eligibility criteria has been removed. You can now apply for US Payment Service if you are a Payoneer card holder.

3. Must receive funds from listed US companies

 

What companies can send the money to Payoneer Virtual Bank account?
Following are the companies that can send money to Payoneer US Payment Service:
  • Alamy Inc.
  • Amazon.com Inc. (and its subsidiaries, including CreateSpace, a DBA of On-Demand Publishing, LLC.)
  • AOL
  • Apollo Group, Inc
  • Apple Inc.
  • Barnes & Noble
  • Bright Market LLC
  • Digital River Inc. (and its subsidiaries, including SWReg)
  • eBay Inc
  • E-Trade Financial Corporation
  • Facebook Inc.
  • Getty Images Inc.
  • Google Inc.(Google AdSense, and its subsidiaries, including AdMob)
  • Half.com Inc.
  • Intel Corporation
  • Keynetics Inc. (Click Bank)
  • LinkedIn Corporation
  • LinkShare Corporation
  • LSI Corporation
  • Microsoft Corporation
  • Nokia Corporation
  • PayPal Inc.
  • Pepperjam Inc
  • Quotient Intergraded solutions
  • ShareASale.com Inc.
  • ValueClick Inc. (Commission Junction)
  • Yahoo! Inc.

As you can see, this list includes the most renowned United States companies and their programs like Google AdSense, ShareASale, Commission Junction, Amazon Associates etc.

What type of deposit does Payoneer bank account accept?

Payoneer US Payment Service accepts ACH (Automated Clearing House) or Direct Deposit from the US companies and clients who are not Payoneer partners. Wire transfers are automatically declined.
 
How to apply for US Payment Service?
First of all, you need to have a Payoneer prepaid MasterCard. If you're a freelancer, I recommend you to sign up for freelance websites and order a Payoneer card. Once you get 3 partner payments, you are eligible for virtual US Bank account.

If you already have a Payoneer MasterCard and have received 3 partner payments, contact Payoneer Customer Support.


Promote This Column on Other Sites:


Comments

Anonymous's picture
Anonymous

Hi,

My name is Nissim, I'm a Community Manager at Payoneer. I'd like to thank you for this great post, I'm sure many people will benefit from this information!

I just wanted to comment - we no longer require 3 partner payments to apply for the US Payment Service. Anyone with a Payoneer card can now apply by contacting our customer support department.

I'd love to share some additional comments with you, if you could contact me at nissimal [at] payoneer [dot] com.

Thanks!

Submitted by Anonymous on Sun, 05/13/2012 - 13:34.
Anonymous's picture
Anonymous

Hi Nissim
I am in Australia and hold a $US bank account. Can I transfer US dollars into my Payoneer direct debit card account via wire transfer?

Submitted by Anonymous on Sat, 10/13/2012 - 07:43.
Anonymous's picture
Anonymous

Hello,

this seems a good place to repeat a question I asked on the ipayoneer forum:

If I apply and get the virtual US bank account, do I as a non-citizen and non-resident of the USA

put myself into the tentacles of the IRS and end up being forced to file tax returns with the IRS?

This would not be my idea of "simply your life"!
--------------
I do wish someone from Admin. or whatever "powers-that-be" at payoneer

could/would answer this question, because it is highly relevant to people

who have nothing to do with the USA other than their relationship to payoneer.

Best regards,

Clinamen

Submitted by Anonymous on Fri, 07/27/2012 - 17:47.
srk4you's picture
srk4you

Hello Clinamen,
If you're from USA, then you apply as a US resident. If not, you apply from whatever country you belong to. Anyways, you don't even have to look this side because Payoneer automatically fills your "US Payment Service" credentials with whatever details you have given when signing up for your Payoneer card. So if you applied your Payoneer debit card as a legal resident of Kenya, your Payoneer virtual bank account is American while you are applying as a citizen of Kenya.

As far as IRS is concerned, Payoneer "might" report the transactions (I am not sure) but you will not be obliged to pay taxes in any way to the IRS offices in US. You pay taxes to the IRS of your country. And no matter you earn taxable income or not, you can report your earnings.

Submitted by srk4you on Tue, 08/21/2012 - 10:06.
Anonymous's picture
Anonymous

Hi,
I would like to know if i can transfer money from Payoneer straight into my bank account?

Submitted by Anonymous on Tue, 06/19/2012 - 08:49.
srk4you's picture
srk4you

Any money that is transferred to your US Payment service (Payoneer virtual account) is directly deposited to your Payoneer account (minus 1% fees).

Submitted by srk4you on Wed, 06/27/2012 - 17:06.
srk4you's picture
srk4you

Hi Nissim,
Thank you! Oh, it's good that Payoneer does not require the partner payments for their bank account service. And I also found that they do no charge the yearly charge from now on. I got my US Payment service account just a few weeks before and I had to pay it. Glad we don't have to pay the yearly charge next year onwards.

Thanks for your comment!

Submitted by srk4you on Tue, 06/05/2012 - 17:38.