The Direct Bank Payment payment method enables you to make free, local payments to your global service providers, directly from your bank account.

You simply select your bank, sign in to your online banking application, and pay!

• Payments using Direct Bank Payment are free--neither you nor your recipient are charged any fees by Payoneer for making the payment.
• Direct Bank Payment uses local transfer routes, which means your recipient will generally receive the payment within one business day (though it can take up to 3 business days in some cases).
• Because you are paying directly using your online banking application, you can choose from which bank account you’d like to make the payment.
• Enables you to avoid adding large payments to your credit card, freeing up your credit line for other uses

• When you choose Direct Bank Payment as your payment method, your recipients will not have to incur any fees, so they will receive the full amount that they are owed.
• Direct Bank Payment uses local transfer routes, which means your recipient will generally receive the payment within one business day (though it can take up to 3 business days in some cases).
• When using Direct Bank Payment, there is a lower risk of chargebacks and fraud.

You can use Direct Bank Payment when paying a payment request. Follow the below steps once you enter Payoneer online payments:

1. If this is the first time using Direct Bank Payment:
   1. Select Direct bank payment in the Select payment method
   2. In the Select bank section, select your bank. Start typing your bank name and then select it from list.

   If you have already set up your bank, select it in the Select payment method section.

2. Click Continue to your bank.
   At this point you will notice a text that states:
   By clicking below, you are permitting TrueLayer to initiate a payment from your bank account. You agree to TrueLayer’s End-User Terms of Service and Privacy Policy.

   TrueLayer is a trusted Payoneer partner and has also partnered with all banks supported by the Direct Bank Payment payment method. TrueLayer’s technology enables your payment information (recipient name, amount to pay) to be automatically passed to your bank, making is very simple for you to complete the payment once you sign in to your online bank application. TrueLayer, like Payoneer, does not in any way track or save your online banking credentials or any other personal banking information.

   You can learn more about TrueLayer on their FAQ page.

3. You will be redirected to your online banking application, from where you can make the payment from any of your bank accounts. Thanks to TrueLayer technology, you’ll already see your payment details, including the amount to pay and recipient name.
   Remember, Payoneer and TrueLayer do not track or save your online banking credentials or any other personal online banking information. All your personal data is completely private and secure.
4. Once the payment is completed within your online banking application and processed by Payoneer, you will receive confirmation of payment success. If there was any issue with completing the payment, we’ll also let you know.

   You can track your payments in your Payoneer account from the Manage > Your transactions page.

Direct Bank Payment uses Open Banking technology. Open Banking provides a secure way to enable companies such as Payoneer the ability to integrate banking-related activities of third-party banks (in this case, your bank) into their own applications (in this case, Payoneer’s payment flow).

To provide this payment flow, Payoneer has partnered with TrueLayer, a regulated Open Banking technology company and a leader in the Open Banking space.

You can read more about open banking here.

You can learn more about TrueLayer here.

Making payments using Direct Bank Payment is free!

Your payment is local! When your make a payment using Direct Bank Payment, your payment is routed to your recipient’s Payoneer account via a local bank account owned by Payoneer (a bank located in the same geography as your bank).

Payments typically reach the recipient within 1 business day, but can take up to 3 business days.

No! The username and password you use to sign in to your online banking application are completely private, and are not in any way tracked or saved by Payoneer or any of its partners.

Yes! Simply click the Change or add link, and update your bank as required.

No. You can have one bank set for Direct Bank Payment, but you can change the selected bank at any time by clicking the Change or add link, and updating your bank as required.