A SOUTH AFRICAN WANTS TO OPEN A PAYONEER ACCOUNT - SELLING ON AMAZON

Vaughan

I wish to sell goods as a private seller on Amazon.com (USA), I am currently situated in South Africa. During my investigation into the process to be followed by me, it is recommended that I open a PAYONEER account. Please could someone supply me with assistance with the following questions:
1) Is it possible for my PAYONEER account to receive monies from a bank account held by me in South Africa?
2) Should I source my goods from a supplier in China, it is possible to pay this supplier from my PAYONEER account?
3) Is it possible to make payments to Amazon from my PAYONEER account?
4) Is it possible for my PAYONEER account to receive monies as a result of sales generated on Amazon.com (USA)?
5) Will PAYONEER require me to submit any documentation from IRS with regards to US tax?
6) Is their any limit on the number of transactions, as well as the monetary value of transactions that may occur in my PAYONEER account?

Assistance in supplying clarity on the above matters will be appreciated.

Coder_Dz

1) Unfortunately no, you can't fund your Payoneer account from your local bank account.

2) It is possible if you have a Payoneer card, and you already have funds in your account.

3) Like before, yes, if you have a Payoneer card, and you already have funds in your account.

4) Yes, you can withdraw from Amazon US to Payoneer's USPS via ACH, which is technically a US virtual Bank account that you can use to receive only.

5) If you're not a US citizen and not living in the US, then you don't have to submit or pay any US tax no whatsoever.

6) There's no limit on how much you can receive on your account, but the card has a limit, a good huge one, and there's a weekly or monthly limit for how much you can spend too, but it's also big.

I hope that has helped for a bit.

Vaughan

Coder_Dz thanks for your reply, this has certainly helped.

quaker

Does anyone know how much the monthly limit or annual limit is for the incoming funds ? I am planning to sell on Amazon and expect to sell for more than 5K $ every month. Will I touch their limit ?

Adam_Payoneer

quaker said:

Does anyone know how much the monthly limit or annual limit is for the incoming funds ? I am planning to sell on Amazon and expect to sell for more than 5K $ every month. Will I touch their limit ?

There is no limit to how much money you can receive to your Payoneer account. The only limit you will face is card usage limit which is normally around $5000 unless your card was issued in the USA (US residents only) or you signed up through a special program (which is rare and lower than $5000).
You can make up to ten ATM withdrawals for a total of $2500 and up to nine POS (point of sale) transactions for a total of $2500. POS transactions include purchases, cash disbursements, and bank teller withdrawals. (Mastercard limits cannot be raised). 

If the option to withdraw money to your bank is supported in your Payoneer account, the standard account can withdraw up to $10,000 every 24 hours. 

cal

I am trying to join payoneer in South Africa but I do not have a Swift number and my branch code for my bank is apparently too long? help