Quote:
Originally Posted by Adraco
One thing I, as a keen Payoneer user, absolutely HATE, is the total un-disclosure of the fees. There seems to be different fees depending on what sponsor is paying me. With some each load is $1, for some it's $2 and for others it's $3 and then a few more bucks for instant load. Why?
Show me a calculation, with say 5, 10, 15, 20, 30, 40 and 50 transactions per month, then we can start talking about who's the cheapest and who's not.
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Hi Adraco,
The fees are NOT hidden, but we try to accommodate our partners, and if they decide to eat the cost then the loads are different. But we usually charge a flat rate of $5 instant load or $2 for a 2 day load. If it?s cheaper than that, then it's a bonus for you that the sponsor took the cost upon themselves.
About the calculation per transaction, it's very hard to do, simply because each partner is different, but I can say that I would advise you to use your Payoneer card in a way that would minimize your costs. Instead of withdrawing $100 at a time, withdraw the $2500 limit (or whatever smaller amount you'd like). That way you aren't charged the ATM fee multiple times for, ultimately, withdrawing the same amount of money. For what it's worth, in most countries you pay a fee for each withdrawal from an ATM in your regular bank account, so in general it is best to make one $300 withdrawal rather than 6 $50 withdrawals.
The way you use your account is very important in choosing what type of payment system you want to use. If you know you make a bunch of small transactions (withdrawals or payments), then maybe a $45 annual fee (plus a few other small fees) is the best for you. However, if you can use your card in a way that you minimize your transactions, the $2 monthly fee (ONLY when you have money in your account), plus a couple more transaction fees will end up costing you a LOT less than a flat annual fee.
Also,it's worth mentioning that if you perform a certain amount of withdrawals (any type of spending transactions) per month, we reduce the cost of each transaction to $1 - this is automatic.