What Are Payoneer Fees in India in 2026?
- Author:
- Manoj Sharma
- Verified by:
- Editorial team
- Published:
- Last modified:
Short answer
Payoneer fees for Indian users: USD receiving: conflicting first-party figures (free for India per the India account page; 'fixed fee OR 1%' per the India pricing page; 1%, minimum 1 USD per the global pricing page); withdrawal to an INR bank account 3% per the India fee notice. Fees were checked on 30 Sept 2026.
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving fee | Conflicting receiving fee: free, fixed or 1%; 3% INR withdrawal | Each payment received | Freelancers and sellers paid via marketplaces or Payoneer clients |
| FX markup | Conflicting: 3% (fee notice) or 1-4% (pricing page) | Conversion to INR | Freelancers and sellers paid via marketplaces or Payoneer clients |
| GST | Not confirmed. Payoneer's India pricing page, global pricing page, India fee notice and withdrawal FAQ do not mention GST on Payoneer fees. | On the fee | Freelancers and sellers paid via marketplaces or Payoneer clients |
What are Payoneer fees at a glance?
Payoneer fees for Indian users, as published on Payoneer's own pricing pages and checked on 30 Sept 2026.
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: Receiving account (local bank details, e.g. USD) | Not confirmed: free for India customers per the India multi-currency account page; 'fixed fee OR 1%' per the India pricing page; 1%, minimum 1.00 USD, for a non-local currency per the global pricing page | Intermediary banks may take fees on USD wire transfers, outside Payoneer's control | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Receiving: Client pays by credit card via payment request | 2.90% + $0.49 per the India pricing page; the global pricing page lists up to 3.99% + 0.49 USD | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Receiving: Client pays by ACH bank debit (US only) | 1% | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Receiving: Client pays via PayPal (US only) | 3.99% + $0.49 | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Receiving: Payment from another Payoneer customer | Free | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Receiving: Marketplace and platform payouts | Set by each marketplace, platform or network | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Currency conversion to INR | India fee notice: 3.00% for withdrawals in a currency different from the bank account currency (effective 20 Oct 2025), included in the conversion rate; the India pricing page still shows 1-4% | When foreign currency is converted | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Payout to an Indian bank | Funds are automatically withdrawn to the user's Indian bank account, within 48 hours per the India pricing page or 24 hours per the India multi-currency account page. Payoneer's India fee-update notice lists 3.00% for withdrawals in a currency different from the bank account currency, effective 20 October 2025, and 3% with a minimum of 15 USD for withdrawals in a currency that is not your local currency (for example USD to a USD account). Its withdrawal FAQ says the fee is included in the conversion rate where conversion is involved. | When INR is sent to your account | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Annual account fee | 29.95 USD if less than 6,000 USD (or equivalent) is received in any 12 consecutive months | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Withdrawal to a bank account in a different currency (e.g. USD balance to INR account) | 3.00% of the transaction amount (India fee notice, effective 20 Oct 2025), included in the conversion rate | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Withdrawal in a currency that is not your local currency (e.g. USD to a USD bank account) | 3% with a minimum of 15 USD or equivalent (India fee notice) | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Registration fee | May apply in certain countries; India Not confirmed | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
| FIRA/FIRS/NOC | Free | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Custom pricing for higher volumes | The global pricing page offers tailored pricing for businesses processing over 50,000 USD a month; amounts not published | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
| GST on fees | Not confirmed. Payoneer's India pricing page, global pricing page, India fee notice and withdrawal FAQ do not mention GST on Payoneer fees. | Applies to the platform's fee | Freelancers and sellers paid via marketplaces or Payoneer clients |
How does Payoneer charge Indian users?
Payoneer charges through a receiving fee, an FX markup on conversion and, in some cases, payout or fixed fees.
- Transaction fee: USD receiving: conflicting first-party figures (free for India per the India account page; 'fixed fee OR 1%' per the India pricing page; 1%, minimum 1 USD per the global pricing page); withdrawal to an INR bank account 3% per the India fee notice
- FX markup: India fee notice: 3.00% for withdrawals in a currency different from the bank account currency (effective 20 Oct 2025), included in the conversion rate; the India pricing page still shows 1-4%
- Withdrawal fee: Funds are automatically withdrawn to the user's Indian bank account, within 48 hours per the India pricing page or 24 hours per the India multi-currency account page. Payoneer's India fee-update notice lists 3.00% for withdrawals in a currency different from the bank account currency, effective 20 October 2025, and 3% with a minimum of 15 USD for withdrawals in a currency that is not your local currency (for example USD to a USD account). Its withdrawal FAQ says the fee is included in the conversion rate where conversion is involved.
- GST: Not confirmed. Payoneer's India pricing page, global pricing page, India fee notice and withdrawal FAQ do not mention GST on Payoneer fees.
Calculation basis: Not modelled, because Payoneer's own pages conflict on the receiving fee and do not state GST. For a USD bank transfer to receiving-account details, the India pricing page lists 'Fixed fee OR 1% fee (depending on the amount received)' without the fixed fee or threshold; the global pricing page (last updated 1 January 2026) lists 1% with a minimum fee of 1.00 USD for a receiving account in a currency that is not your local currency; and the India multi-currency account page says receiving payments in USD is free for customers from India. For conversion to INR, the India fee-update notice lists 3.00% of the transaction amount for withdrawals in a currency different from the bank account currency, effective 20 October 2025, while the India pricing page still shows a 1-4% range. Payoneer says the conversion fee is included in the conversion rate, which is based on wholesale market rates, and that the fees applicable to an account are shown in its Fees page. GST on Payoneer's fees is not stated on any of these pages. Rechecked on 7 October 2026: the India pricing page, global pricing page, India multi-currency account page and the India onboarding guide (updated 29 July 2026) still give the same conflicting receiving and conversion figures, and none of them states how GST applies to Payoneer's fees, so the conflict is unresolved.
What does Payoneer charge by payment method?
Payoneer's fee depends on how your client pays. Methods not listed are not supported or not published for Indian users.
| Fee type | Amount | When it applies | Best for |
|---|---|---|---|
| Receiving: Receiving account (local bank details, e.g. USD) | Not confirmed: free for India customers per the India multi-currency account page; 'fixed fee OR 1%' per the India pricing page; 1%, minimum 1.00 USD, for a non-local currency per the global pricing page | Intermediary banks may take fees on USD wire transfers, outside Payoneer's control | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Receiving: Client pays by credit card via payment request | 2.90% + $0.49 per the India pricing page; the global pricing page lists up to 3.99% + 0.49 USD | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Receiving: Client pays by ACH bank debit (US only) | 1% | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Receiving: Client pays via PayPal (US only) | 3.99% + $0.49 | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Receiving: Payment from another Payoneer customer | Free | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Receiving: Marketplace and platform payouts | Set by each marketplace, platform or network | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Currency conversion to INR | India fee notice: 3.00% for withdrawals in a currency different from the bank account currency (effective 20 Oct 2025), included in the conversion rate; the India pricing page still shows 1-4% | When foreign currency is converted | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Payout to an Indian bank | Funds are automatically withdrawn to the user's Indian bank account, within 48 hours per the India pricing page or 24 hours per the India multi-currency account page. Payoneer's India fee-update notice lists 3.00% for withdrawals in a currency different from the bank account currency, effective 20 October 2025, and 3% with a minimum of 15 USD for withdrawals in a currency that is not your local currency (for example USD to a USD account). Its withdrawal FAQ says the fee is included in the conversion rate where conversion is involved. | When INR is sent to your account | Freelancers and sellers paid via marketplaces or Payoneer clients |
| GST on fees | Not confirmed. Payoneer's India pricing page, global pricing page, India fee notice and withdrawal FAQ do not mention GST on Payoneer fees. | Applies to the platform's fee | Freelancers and sellers paid via marketplaces or Payoneer clients |
What is the Payoneer currency conversion fee and FX markup?
Published FX markup: India fee notice: 3.00% for withdrawals in a currency different from the bank account currency (effective 20 Oct 2025), included in the conversion rate; the India pricing page still shows 1-4%. The markup is the difference between the mid-market rate and the rate Payoneer applies when converting to INR.
What are Payoneer withdrawal and settlement fees?
| Platform | Settlement to India | Payout route | Best for |
|---|---|---|---|
| Payoneer | Conflicting: auto-withdrawn within 24 or 48 hours | Auto to Indian bank in 24 or 48 hours; 3% withdrawal fee | Freelancers and sellers paid via marketplaces or Payoneer clients |
Is GST charged on Payoneer fees?
Not confirmed. Payoneer's India pricing page, global pricing page, India fee notice and withdrawal FAQ do not mention GST on Payoneer fees.
How much INR do you receive on $2,000, $5,000 and $10,000 with Payoneer?
The table shows each charge line by line at the XE mid-market rate for 4 Nov 2026.
| Platform and invoice | Fee | FX markup | GST | INR received | Cost | Best for |
|---|---|---|---|---|---|---|
| Payoneer, $2,000 | – | – | – | Not published | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Payoneer, $5,000 | – | – | – | Not published | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
| Payoneer, $10,000 | – | – | – | Not published | – | Freelancers and sellers paid via marketplaces or Payoneer clients |
How can you reduce Payoneer fees?
- Payment method: Ask clients to pay by local bank transfer to your account details, which usually costs less than cards, wallets or Swift wires.
- Invoice size: Where a platform charges a flat fee per payment, fewer and larger invoices lower the cost as a share of revenue.
- Conversion: Compare the rate offered with the mid-market rate on the day, because the FX markup is often the larger cost.
- GST: Keep the platform's tax invoices, since GST paid on fees may be claimable as input tax credit if you are GST registered.
How do Payoneer fees compare with other platforms?
Platforms are ranked by the INR received on a $5,000 invoice, with Payoneer included.
| Platform | Fees | FX markup | FIRA | INR on $5,000 | Best for |
|---|---|---|---|---|---|
| Skydo | $19 up to $2,000, $29 to $10,000, 0.3% above + GST | States zero FX margin at live rate | States instant, free FIRA per payment | ₹4,69,924 | Indian freelancers and exporters receiving mid to large B2B invoices |
| Razorpay | 1% per bank transfer (Rs 1,000 flat below Rs 1,00,000) + GST | States 0% markup on MoneySaver at live rate | FIRS within 24 hours of settlement; no charge listed | ₹4,67,579 | Indian businesses and freelancers on Razorpay invoicing foreign clients |
| Kotak Mahindra Bank | No inward, FIRC, SWIFT fee on current accounts; GST on conversion | Card rate, markup not published; 1.71% below mid-market on 7 Oct 2026 | Nil FIRC on current accounts; savings Rs 100 or nil | ₹4,64,564 | Service exporters wanting a current account without inward remittance fees |
| HDFC Bank | No inward charge; physical FIRC INR 200 + taxes; GST on conversion | Card rate ~1.79% below mid-market on 6 Oct 2026; markup unpublished | Physical FIRC INR 200; emailed advice free for trade | ₹4,64,186 | Existing HDFC customers wanting free SWIFT receipts or EEFC accounts |
| Payoneer | Conflicting receiving fee: free, fixed or 1%; 3% INR withdrawal | Conflicting: 3% (fee notice) or 1-4% (pricing page) | Free digital FIRA downloads; within 72 hours per guide | ₹4,48,842 to ₹4,68,431 (estimate) | Freelancers and sellers paid via marketplaces or Payoneer clients |
How did we verify this?
Fees were checked on Payoneer's own pages on 30 Sept 2026. INR figures use the XE mid-market rate for 4 Nov 2026. The formula is on the methodology page.
- Payoneer India home (checked 6 Oct 2026)
- Payoneer India pricing, Receiving account in non-local currency: 'Fixed fee OR 1% fee'; credit card 2.90% + $0.49; withdrawn within 48 hours; currency conversion 1-4% (checked 7 Oct 2026)
- Payoneer Digital FIRC / e-FIRA (checked 6 Oct 2026)
- Payoneer press release: in-principle PA-CB authorisation in India (checked 6 Oct 2026)
- RBI: Certificates of Authorisation under the PSS Act, 2007 (checked 6 Oct 2026)
- Payoneer Pricing (global), Via a receiving account in a currency that is not your local currency: 1% (minimum fee of 1.00 USD or equivalent); last updated 1 January 2026; conversion rates based on wholesale market rates and include the conversion fee; Get a custom package: processing over 50K USD monthly (checked 7 Oct 2026)
- Payoneer: We're updating the fees for some of our services (India selected), Withdrawals in a currency that's different from your bank account currency: 3.00% of the transaction amount; not your local currency: 3% with a minimum fee of 15 USD; effective October 20th, 2025 (checked 7 Oct 2026)
- Payoneer Withdraw to bank FAQ, if there is currency conversion involved, the fee is included in the conversion rate; India-based users can have one active bank account (checked 7 Oct 2026)
- Payoneer India multi-currency account, Receiving payments in USD is free for customers from the following countries: Japan, India...; automatically withdrawn within 24 hours; local receiving accounts in US dollar, British pound, Euro, Australian dollar, Canadian dollar, Singapore dollar, Hong Kong dollar, UAE dirham, Chinese yuan and Japanese yen (checked 7 Oct 2026)
- Payoneer: Onboarding guide for businesses in India, eligible payments are automatically withdrawn within 24 hours of receipt; Receive Digital FIRCs within 72 hours of an eligible Payoneer transaction (page modified 29 July 2026) (checked 7 Oct 2026)
FAQs about Payoneer fees
How much does Payoneer charge to receive money in India?
Fees: USD receiving: conflicting first-party figures (free for India per the India account page; 'fixed fee OR 1%' per the India pricing page; 1%, minimum 1 USD per the global pricing page); withdrawal to an INR bank account 3% per the India fee notice. GST: Not confirmed.
Does Payoneer add a markup to the exchange rate?
Published FX markup: India fee notice: 3.00% for withdrawals in a currency different from the bank account currency (effective 20 Oct 2025), included in the conversion rate; the India pricing page still shows 1-4%. Compare the rate Payoneer offers with the mid-market rate on the day you convert.
Is GST charged on Payoneer fees?
Not confirmed. Payoneer's India pricing page, global pricing page, India fee notice and withdrawal FAQ do not mention GST on Payoneer fees. Where a platform charges GST, it is added on top of the fee, so the total cost rises by 18% of the fee.
How long does Payoneer take to pay out to an Indian bank account?
Payoneer states: Payoneer says payments for India-based customers are automatically withdrawn to the Indian bank account within 48 hours (India pricing page) or within 24 hours (India multi-currency account page and India onboarding guide). Its withdrawal FAQ says the fee is included in the conversion rate where conversion is involved.
Does Payoneer provide a FIRA for each payment?
Payoneer's Digital FIRC page states that FIRA/FIRS/NOCs can be viewed, searched and downloaded in bulk from Reports & Statements, free at no additional cost. Its India onboarding guide says Digital FIRCs are delivered within 72 hours of an eligible Payoneer transaction, with a notification when they are ready.
Is Payoneer cheaper than other ways to receive international payments?
Payoneer does not publish enough pricing for Indian users to calculate a total cost, so it cannot be ranked on this site. The comparison table on this page shows platforms that publish full pricing, ranked by the INR received on a $5,000 invoice.