Posts by cyzer

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cyzer says

So some updates.

Yes the money came back and now it’s close to what was in the fees list. So I am kind of satisfied. This thread should be removed BUT there should be some information about that “pre-authorization temporary fee of 20% above the actual billing amount until the transaction is complete”.

There will be more similar angry and uninformed people who will open such threads.

Thanks for your support Nissim!

[SOLVED]

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cyzer says

Well deserved! The most deserved of all time! He was born with this star! :))) Felt is like the wise godfather of community :D

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cyzer says

So apparently – we have got 20% pre-authorization fee until the transaction is complete.

Nissim answer:

“Hi,

One thing I wanted to mention quickly that may be causing some confusion in rates. When using the prepaid debit card, there are two stages to each transcation:

- Pre-authorization of merchant charge request: the merchant’s payment processor contact Payoneer and asks to charge the card - Processing of charge: once authorized, the merchant’s payment processor completes the purchase

This is a fully automated process that normally happens in seconds. In some cases, however, merchants do not complete the purchase right away. When this happens, you will see the charge as “pending authorization” in your Payoneer account until the merchant completes it.

For specific merchants, pre-authorizations are made at amounts up to 20% higher than the actual amount. This is to ensure that you have sufficient funds to complete the purchase, and is applied for merchant times such as restaurants, hotels, car rental companies, etc (merchants that offer service prior to payment being completed).

If the charges below are for such merchants, this means the pending amounts you see are up to 20% higher than what the actual charge will be. Once the merchant completes the charge you will be able to see the actual amount applied (at that time I can also provide you with a full breakdown of rates/fees applied).”

This definetly should be public and written clearly in the fees list.

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cyzer says

I would never use Payoneer card for purchases. It’s way too hard to keep track of all kinds of hidden fees. When I first used the card I tried to withdraw money. Apparently my exchange rate calculations were wrong and I tried to take out more money than I had on the card. I tried once without sucess, then reduced the ammount by 10$ and tried again – no sucess, reduced by 10$ more and tried again. Still no sucess. Went home to see where is the problem and found out I was actually charged comission for each unsucessful attempt. That’s when i decided I’ll use that card as little as possible which were basically – take out all my money as soon as it arrives. International money transfer is expensive. Don’t let them fool yourself believing someone could do that for cheep. They have their own methods to cover the expenses. If you are getting that for low price – then someone else is covering those expenses through all kinds of fees. Be smart and don’t be one who covers expenses for others.

Thanks Filips for your advice!

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cyzer says

I wrote letter to payoneer support. Will see what they come up with.

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cyzer says


Chilli pizza – 14.81×2.5 + 3%. = verry off. Very bad.

Sorry I don’t get, what is bad here?
14.81×2.5 = 37.025
35.96 / 100×3 = 1.0788
35.96 + 1.0788 = 37.0388
So I paid 37.025, but I needed to pay 37.0388, if the conversion is exactly 2.5LTL = 1USD


Shop – very bad.
The same thing:
195.17×2.5 = 487.925
474.99 / 100×3 = 14.2497
474.99 + 14.2497 = 489.2397
So one more time I paid less, because the conversion is not exactly 2.5

Am I wrong?

PS: But I agree with you, it’s better to use this card with atm and withdraw the max money that possible in one time. Then you lose minimum.

Well it is much better than what i paid. I dont understand where my money went to.

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cyzer says

I’m fairly satisfied with Payoneer card, use it more than 2 years.
Sometimes it happens that you pay more than you expected. It happens to me few times, but mostly I withdraw at atm. It all depends on what bank the shop use. Some of this banks have crazy conversion, for example, not 1USD ~ 2.5LTL but 2.4LTL or even 2.3LTL. And if you have dollar card you lose your money in such places all the time.
Month ago I was in Vilnius, and here is my experience:
- atm – 400.00 LTL – $167.69
- Chili Pizza – 35.96 LTL – $14.81
- shop – 474.99 LTL – $195.17
Pretty normal, isn’t it?

Atm – 167.69×2.5 + 3.25×2.5 + the 3%. = good.

Chilli pizza – 14.81×2.5 + 3%. = verry off. Very bad.

Shop – very bad.

Seems that the only reasonable use of this card is atm.

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cyzer says

So, the story goes like this. Applied for the Payoneer card. Got the card. Loaded money in. Happy with the card with my money!! Yay! Went to the city! Aaaand started doing some tests by withdrawing and purchasing. Ok so, I live in Lithuania so ~2,5 LTL = 1 USD (Master Card Rates)

I withdrawn 100LTL at atm and 44,73USD (111,8LTL) were removed. Ok so its 3,25USD(8,1LTL) for the withdrawal + 3% (3LTL) – ALL GREAT! ok.. not that great but At least as promissed.

And then I decided to pay with the card for some coffe and food.

I bought two cups of coffee – actual price in cafeteria 11,80 LTL – bought it… and 5,80USD were removed from my card. Wait a minute ? The purchases made with card has to be free + 3% if your card is issued outside US OR in a currency different than the card currency right ? Ok so 5,80USD is 14,5LTL . Where did the ~2,70LTL go ? Hmmm…. Weird.

So now I thought ok this has to be something I missed.. I went and checked the fees in the official page. Yeah its free + 3% if your card is issued outside US OR in a currency different than the card currency. obviously 2,70LTL is not 3% of 11,80 LTL….

Ok i went to different shop and I even asked if their bank is different and then bought some food with the card. The actual price in the shop was 31LTL. And after the purchase I checked my card…. 15.26USD was removed for this particular purchase. WAHHAHATTT?? 15.26USD x 2.5 = 38,15LTL… 38,15LTL was removed from the card for a 31LTL purchase ???

Thats supposed to be free + 3% :D

“*There is a fee for transactions originated in a country outside of the country of issuance OR in a currency different than the card currency of up to 3% above all fees assessed by MasterCard.”

So you are saying the mastercard took it? Ok, I need to know that. What fees ? where ? what for ?

And Now I am waiting Nissim to see this thread and explain where did every missing dollar went because that is absolutely not tolerated and the fees explanation is misleading.

PS: I don’t actually care too much who and why takes that missing money. i used your card and alot of that money goes to the wind… that is total waste.

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cyzer says

i actually disagree somewhat. i find a lot of really interesting new Authors with maybe 3 or 4 fresh new items, far more interesting than the same old boring Tim McMorris crap that’s used everywhere.

...pulling … dagger… out… of…heart… :D

My apologies my good sir, I shall do my best to release the best non-crap ever heard, in the future! :)

I would tend to somewhat agree a bit, ofcourse not the “crap” part but yes your tracks do sound all abit the same and they are overused. Never used them just because of that reason :) But anyway I got my favorit one it’s the Genesis. I will definetly use that one someday with some lifting off rocket or some space scene.

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cyzer says

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