Opening a Payoneer Company Account

You can open an llc account instead of an individual account via Payoneer with your LLC company information in the USA.

Previously, Payoneer required a lot of paperwork for company account openings, but now they provide automatic pre-approval after entering your LLC company's EIN number.

When opening an account for the first time, Payoneer does not ask for any documents from you for verification, but when money transfer starts to occur in your account, the company may ask for your formation documents and ID (sometimes your EIN confirmation letter).

When you open a Payoneer company account and get approval, it provides you with a USD account number. If you want, you can also activate additional currencies.

Thus, you can withdraw money to your Payoneer account from platforms such as Amazon, Shopify, Stripe. You can spend the money you withdraw with your Payoneer card or transfer your income to a bank in your country of residence.

Payoneer Debit Card

Once you open an account and your account is approved, your Payoneer account will now be connected to Amazon, Shopify, Stripe, etc. You can withdraw money from platforms such as. Once your first $100 balance arrives in your Payonner account, you can now request a card.

When your debit card arrives at your residence address, you can complete the card activation and withdraw the balance in your account as cash from ATMs or trade with your money using your card. Generally, these types of cards are used to buy goods, services, etc. for trading purposes rather than withdrawing money. It is used to use the money in the account by purchasing it. In this way, situations such as using different cards to trade and consuming the limit or losing money due to exchange rate differences are eliminated.

Opening a Payoneer Company Account

Opening a Payoneer business account is very easy.

In order to open a Payoneer company account, you must first form an LLC company in the USA and obtain an EIN number for this company.

If you own a US LLC company, you can proceed directly to the account opening process. If you do not have an LLC company yet, you can first establish an LLC company in the most preferred state of Wyoming and get free EIN application support . Please check out the guides below;

LLC company formation guide: https://startupsole.com/northwest-ile-amerikada-sirket-kurmak/

To benefit from the free EIN application campaign: https://startupsole.com/ucretsiz-ein-basvuru-kampanyasi/

Steps to Open a Payoneer Company Account

First of all, access the site from the link https://www.payoneer.com/business/

Access the registration page by clicking the SIGN UP AND NOW button.

In the next step, you are asked to choose the category related to your business model.

If you are running a freelancer or agency, you can choose the first option, if you are running a marketplace like Amazon, you can choose the "Online seller - Marketplace" option, if you are selling through Shopify Dropshipping or an e-commerce site, you can choose the "Online seller - Webstore/Dropshipper" option, and if you are doing a business outside these categories, you can choose the Other option.

After choosing your business model, you are asked to choose your average monthly turnover. If you will have a higher monthly turnover, you can choose other options. However, you cannot register online for accounts with higher volume. To do this, you can fill out the Payoneer contact form and make a one-on-one transaction with a customer representative. Since commission rates for accounts with high turnover will vary, you will be asked to register with special approval from the beginning.

You can choose $5,000 – $9,000 per month and continue.

After selecting the monthly average turnover amount, click the "Register" button on the page below.

Payoneer has two types of accounts: Individual and Company The first option is to open a personal account. Since we will open an LLC company account, select the account type "Company".

After choosing the account type, you must fill out the registration page completely and accurately.

The descriptions of the fields on the registration page above are as follows;

Company Details:

Legal Company name: The full name of your LLC company

Doing business name: Generally a DBA is not used, otherwise you can leave it blank

Registered Legal Entity of Your Business: Select the company type, usually Limited Liability Company (LLC).

Company Website: If your company has a website, write it down, otherwise you can leave your Amazon store link blank.

Authorized representative's details:

Enter your personal information of the company owner.

Enter your name, surname, e-mail and date of birth respectively.

After entering all the information completely, click the REGISTER button and move on to the next step.

In the Contact Details section, you need to enter your company address and mobile phone in the USA.

After entering your mobile phone number, click on the "Send Code" button and enter the verification code sent via SMS into the relevant field.

Note: You can enter your mobile number with TR area code or your virtual phone number with US area code, if available. Zadarma.com to get a number with a US area code .

After entering the SMS verification code, click the “NEXT” button and proceed to the next step.

In the next stage;

You need a password for your account and an answer to a security question.

Then, in the Company ID section, enter your company's EIN number with a hyphen (-).

In the last section, enter your company's formment date (date on the company formment document) and type the security code in the picture and click the "NEXT" button.

When you reach the last page of the registration process, you will be asked for bank account information. This account number must be a USD account in the name of your company in the US.

Choose your bank. If your bank is not in the high school, you can select the other option and enter the bank name manually.

For example, if you are using Wise Corporate, type the bank name as in the example below, enter your account and routing number correctly, then click the "SUBMIT" button and submit the application.

After submitting the form, you will see a page like below. This page states that your account is under review.

After a short review phase, if there are no extra issues, your account will be approved in a short time.

If everything goes well, within a few hours (or days) you will receive an account confirmation e-mail from the Payoneer Team, as shown below, to your e-mail address you registered with.

In the email, they state that your account has been approved and you can now manage your account by logging into your Payoneer customer panel.

As soon as the first $100 balance hits your account, you can request a payoneer debit card for your company.

As standard, Payoneer provides you with an account number for USD and GBP balances. If you need an EUR account or another account, you can add a new balance. The accounts you add will be approved and added to your panel within a few minutes.

You can click on the relevant balance to learn your account numbers and account information (IBAN, Account or Routing Number) for your balances.

In order for the Payonner account to be fully approved, try to receive a payment into your account and then you will be asked for some company documents. Afterwards, you can send and receive money to your Payoneer account with full approval.