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Nissim_Payoneer says

Hey Guys,

Small correction in regards to how the local bank transfer service works.

The pricing depends on the specific country and whether or not local transfers are available in that country. We currently offer local bank transfers in 45+ countries. If we support local transfers in your country, there is a charge per transfer (and up to a 3% margin from the mid market conversion rates). Again, transfers are made from a local bank account in your local currency, so they are much quicker than SWIFT transfers.

If we do not support local transfers for your country, they are sent via SWIFT . There is a charge per transfer with an additional 1% or $10 charge (whichever is lower, so a max charge of $19.95).

Charges per transfer are either $5.95 or $9.95 (depending on the country).

Pricing is of course always subject to change, and they do vary between partners and programs. The best thing to do would be to go to the application and see the exact charges listed for your partner and country, however I just wanted to give you a general idea.

In all honesty, if you’re looking to get paid to directly to your bank account this is a very cost effective and quick option.

Nissim | Payoneer Community Manager | payoneer.com

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EFEKT_Studio says


Payoneer? In my opinion it’s a big lost of money. It’s okay if you receive customization payments, etc., but for big bucks, a no no. Why? Because you loose a lot with payoneer’s/mastercard exchange rate. For example, I’ve lost about $200 in one month because of their exchange rate. Best of the best, for big money transfers is swift.
We are in same country and i never lose any cent, here is exchange rate from mastercard: http://www.mastercard.com/global/currencyconversion/index.html

1 USD = 1.52 BAM

and i don’t know how can you lose $200 on your transaction.

I’m not here to promote (or protect) Payoneer I just talking honestly that i’m very satisfied with their services.
  • Due to possible rounding differences, the published calculated cross-rates may not precisely reflect the actual rate applied to the transaction amount when converting to the cardholder billing amount.

That’s written under the converter. And if the rate is 1.52, when you withdraw the money from any ATM , you will get maybe 1.44 or so. On $1000 you loose $80.

I loose money with their exchange rate, I wouldn’t write it just for sake of writing or hating payonner. Swift is the best possible option and I wouldn’t use it if I didn’t had to.

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miseld says



Payoneer? In my opinion it’s a big lost of money. It’s okay if you receive customization payments, etc., but for big bucks, a no no. Why? Because you loose a lot with payoneer’s/mastercard exchange rate. For example, I’ve lost about $200 in one month because of their exchange rate. Best of the best, for big money transfers is swift.
We are in same country and i never lose any cent, here is exchange rate from mastercard: http://www.mastercard.com/global/currencyconversion/index.html

1 USD = 1.52 BAM

and i don’t know how can you lose $200 on your transaction.

I’m not here to promote (or protect) Payoneer I just talking honestly that i’m very satisfied with their services.
  • Due to possible rounding differences, the published calculated cross-rates may not precisely reflect the actual rate applied to the transaction amount when converting to the cardholder billing amount.

That’s written under the converter. And if the rate is 1.52, when you withdraw the money from any ATM , you will get maybe 1.44 or so. On $1000 you loose $80.

I loose money with their exchange rate, I wouldn’t write it just for sake of writing or hating payonner. Swift is the best possible option and I wouldn’t use it if I didn’t had to.

I know what are you talking about, i will try in next few months to combine payout methods and see what is the best option.

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plastic3 says
So, the maximum charge for the local bank transfer service would be $20.00, and depending on your country/transaction amount it can be lower
Nissim, no, as we already disscussed in another thread, commission will be 10$ + 1% (up to 20$) = maximum 30$..It’s transfer to Ukraine..
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Nissim_Payoneer says

So, the maximum charge for the local bank transfer service would be $20.00, and depending on your country/transaction amount it can be lower
Nissim, no, as we already disscussed in another thread, commission will be 10$ + 1% (up to 20$) = maximum 30$..It’s transfer to Ukraine..

We send transfers to the Ukraine via SWIFT . It’s $9.95 for the transfer, and then 1% of the transfer amount up to $10. So max would only be $9.95 + up to $10, max of $20.00.

If I wrote it wrong in another thread please link so I can go back and correct it (though it’s always been 1% up to $10, not $20).

For countries with local transfers, it’s only $5.95 for most (and up to 3% margin from the mid market conversion rates). We don’t charge the 1%/$10 for local transfer countries.

If it’s not clear in any way just tell me, and I’ll do my best to further explain ;)

Nissim | Payoneer Community Manager | payoneer.com

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plastic3 says

Nissim, i’ve checked the fees in my Payoneer account – it’s 10$ + 1%(up to 20$)=maximum 30$...sorry:))

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Nissim_Payoneer says

Nissim, i’ve checked the fees in my Payoneer account – it’s 10$ + 1%(up to 20$)=maximum 30$...sorry:))

@plastic3: Please send me a screenshot at nissimal@payoneer.com (or send me the e-mail address on your account).

Nissim | Payoneer Community Manager | payoneer.com

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plastic3 says

Already sent..

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Nissim_Payoneer says

Already sent..

Thanks!

Ok, so for SWIFT payments sent via Payoneer, it’s $9.95 for the transfer, and 1% of the transaction amount. The total charge for any single transfer has a max of $19.95, meaning the 1% is up to $10.00. The “maximum of $19.95” shown on the fee page is referring to the total transaction.

I do apologize if the fee page is confusing in any way, and I’ll see what I can do to have it displayed more clearly.

Nissim | Payoneer Community Manager | payoneer.com

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quickandeasy Volunteer moderator says

This could be interesting…

I need to look more into this!

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