Can you use Payoneer for cross-border payments?
Based on a blogger's shared experience, I don't recommend using this service.
On one hand, the upfront costs are high—you need to cover the basic setup and expenses for establishing a Hong Kong company. On the other hand, the payout cycle is long (T+10, meaning it takes at least 10 business days for funds to arrive), so most people won't even have a chance to benefit from any shortened processing times before closing their site. Finally, even if you pass the initial account review and start accepting payments, your account may still be suspended at any time if you're deemed unable to meet ongoing usage requirements. Disputes typically require at least six months before you can withdraw your funds.
Overall, based on this blogger's own experience and those of people around them, I wouldn't recommend using Payoneer for cross-border collections.
Unlimited-limit overseas cross-border payment and settlement service (supports various cross-border collection scenarios)
