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crossroad says

Hi Nissim_Payoneer,

I have a simple question about payoneer’s bank transfer service. For example If I have 1000 US$ in Envato account, and I want to transfer it to my bank account in Latvia in Euros.

If I understood correctly, there will be 2 different types of charges.

1. Payoneer fees for bank transfer. How much it will be to transfer $1000 ? Will the bank also charge fees to receive the money? How much it will be?

2. You said payoneer uses official master card exchange rates + 2% conversion charge for Euros. According to Master card exchange, 1000 USD = 773.335 EUR . So how much will be the conversion charge on it?

Thanks.

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SuggeElson says

I`m impress how fast payoneer send my money last month , i use global bank transfer and get money after 16 hours , great.

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Nissim_Payoneer says

I`m impress how fast payoneer send my money last month , i use global bank transfer and get money after 16 hours , great.

Thanks!


Hi Nissim_Payoneer,

I have a simple question about payoneer’s bank transfer service. For example If I have 1000 US$ in Envato account, and I want to transfer it to my bank account in Latvia in Euros.

If I understood correctly, there will be 2 different types of charges.

1. Payoneer fees for bank transfer. How much it will be to transfer $1000 ? Will the bank also charge fees to receive the money? How much it will be?

2. You said payoneer uses official master card exchange rates + 2% conversion charge for Euros. According to Master card exchange, 1000 USD = 773.335 EUR . So how much will be the conversion charge on it?

Thanks.

For Latvia, we support local transfers.

You can choose to get paid via local bank transfer, in either EUR or LVL . Funds will be sent to you from a local bank in your country, so you should not be charged any international transfer fees by your bank.

The cost per payment is $2.99, and then we convert the funds. We use the official market mid-rate at the time of transfer, which is generally the best rate available. We then apply a conversion charge of 2% (if you choose Euro) and up to 3% (if you choose LVL ). When you sign up for the service, it asks you which currency you’d like to get paid in.

So to be clear, there are 2 charges for getting paid in EUR /LVL:

1) $2.99 for the payment 2) 2% for the conversion (for EUR ); or 3% for the conversion (for LVL )

Edit: A great tool is http://www.xe.com/, as they use the mid-market rates: http://www.xe.com/faq/rates_buyorsellrates.php

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crossroad says

Nissim_Payoneer,

Thanks for such a wonderful support.

1. About the payment charges, $2.99, is it constant? Or will it increase if i transfer more than $1000?

2. About the conversation fees, if I transfer $2000 to LVL , would it be $60 (ie. 2000 * 0.03) ?

Thanks.

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Nissim_Payoneer says

Happy to help :)

Indeed, the payment fee is constant. It’s $2.99 for local transfers to Latvia, regardless of the payment amount.

You’re correct in the calculation of the conversion charge; it would be up to 3% of the payment amount for converting to LVL (it may be slightly less, but will never exceed 3%). EUR would be only 2%, however we find that it is beneficial for some members to be able to transfer to their local currency directly.

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AGSoft says

I’ve been using Paypal for almost seven years now, and I’ve never had a problem with it(thousands of dollars have been sent and received so I’m by no means a casual spender).

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sheerazmughal says

Hi Nissim_Payoneer , its great to have you here providing answers and support ppl here. I am from Pakistan and am planning to sell my personal products here i.e Themes and other IT stuff. What payment options would suite me being living in Pakistan??? I am not running any company but a single developer having a bank account in local currency however i can also open an account in USD if it seems more feasible in my current scenario. looking forward. regards

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global-trend says

Skrill (Moneybookers) is really a 3rd class company. 22 days already passed, but not yet received my hard earned money in my bank account! :(

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FalconFX says

Payoneer is the way to go !!!

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