Yes, Payoneer does require you to have a bank account in order to open an account and use their services. It is not possible to fully register for a Payoneer account without providing your bank account details.

During the Payoneer sign-up process, you will be prompted to enter your bank account information. This is mandatory and you cannot bypass this step. Payoneer needs your bank details in order to verify your identity and enable fund transfers.

The bank account you provide when opening your Payoneer account will be the primary account used for withdrawals from your Payoneer balance. It is also used to confirm your ownership of the account.

While you can add other withdrawal methods like debit cards later, you must link a bank account first when registering. The bank account holder name must match your Payoneer account name as well.

So in summary, a local bank account is required when setting up a new Payoneer account. They need to verify your banking information and account ownership for security and compliance purposes. Payoneer relies on bank accounts as the main method for customers to withdraw funds globally.