Page 1 of 2 12 LastLast
Results 1 to 25 of 43

Thread: About Payoneer's Fee's

  1. #1
    Veteran Member CinnimonKiss's Avatar
    Joined
    Sep 2011
    Location
    Paradise
    Posts
    475
    Thanks
    1,916
    Thanked 1,061 Times in 294 Posts
    My Mood
    Happy

    Thumbs down About Payoneer's Fee's

    Hello, you girls who get paid through payoneer notice extra charges to each transaction. For example I spent $23.75 at PizzaHut and noticed on my transactions it posted as $28.00 and something cents!?!?!?!?!?! Also I have been noticing it a lot, with most transactions..i dunno if ALL are but i noticed with some. Also I bought a money order yesterday for 550.00, the money order fee was only .60 cents. Then of course checked my transactions on Payoneer and it was posted as $558.86 ?

    Honestly if their charging this much for purchases and such, im going to just once they load my card each week...withdrawal (which they "SAY" their charge is only $2.75) that money and only leave around like $50.00 in my card just to keep it open.


    PLEASE LET ME KNOW IF THIS HAS BEEN HAPPENING TO U GUYS!?..

    Very worried and concerned.

  2. #2
    Veteran Member CinnimonKiss's Avatar
    Joined
    Sep 2011
    Location
    Paradise
    Posts
    475
    Thanks
    1,916
    Thanked 1,061 Times in 294 Posts
    My Mood
    Happy

    Default Re: About Payoneer's Fee's

    Also I forgot to say..im in the U.S

  3. #3
    Veteran Member CinnimonKiss's Avatar
    Joined
    Sep 2011
    Location
    Paradise
    Posts
    475
    Thanks
    1,916
    Thanked 1,061 Times in 294 Posts
    My Mood
    Happy

    Default Re: About Payoneer's Fee's

    conversion fee?..i guess..fuck...w/e..i just read through the Payoneer thread...my question isnt really answered in that thread. hmmm

    all I can say is wow that sucks...

  4. #4
    Veteran Member CinnimonKiss's Avatar
    Joined
    Sep 2011
    Location
    Paradise
    Posts
    475
    Thanks
    1,916
    Thanked 1,061 Times in 294 Posts
    My Mood
    Happy

    Default Re: About Payoneer's Fee's

    oh JESUS!....yaaa I was looking at my transactions and it had a pop up for chat representative and I opened it..told whats going on with my card and the person said something about cross border fees on each transaction. ....?..then my internet went down and cut us off.

  5. #5
    Veteran Member ElianaIsis's Avatar
    Joined
    Aug 2011
    Posts
    478
    Thanks
    5,642
    Thanked 887 Times in 306 Posts

    Default Re: About Payoneer's Fee's

    It's the 3% cross boarder fee on every card transaction. Doesn't matter what it's for they add it to any purchase or cash withdrawl.

  6. The Following 2 Users Say Thank You to ElianaIsis For This Useful Post:


  7. #6
    Featured Member
    Joined
    Jun 2010
    Posts
    1,425
    Thanks
    1,866
    Thanked 2,048 Times in 719 Posts
    My Mood
    Angelic

    Default Re: About Payoneer's Fee's

    Wow 3% is a lot of money when you take into consideration all the other fees they slip in .

  8. The Following User Says Thank You to ukmissy For This Useful Post:


  9. #7
    Veteran Member CinnimonKiss's Avatar
    Joined
    Sep 2011
    Location
    Paradise
    Posts
    475
    Thanks
    1,916
    Thanked 1,061 Times in 294 Posts
    My Mood
    Happy

    Default Re: About Payoneer's Fee's

    How can I minimize ATM*-related fees and Cash Withdrawal fees?
    Select your ATM carefully. You may be subject to fees set by the ATM networks and the bank you are withdrawing from. These fees vary from bank to bank. Find an ATM with the most favorable terms and use it as often as possible.
    Consolidate your ATM usage by withdrawing the maximum allowed by your Payoneer card and the ATM. For example, a $3.00 fee on a $100 withdrawal costs 3% of your hard-earned cash. A $250 withdrawal would only cost you 1.2%
    Do not try to withdraw more than your card account balance from an ATM. You will be charged a fee for the failed transaction. Make sure to calculate the total fees prior to withdrawing the funds.
    As an alternative to an ATM, consider making use of the “cash-back” option when shopping at retailers if it is possible to do so – this is generally free.
    How is my foreign exchange (FX) rate determined?
    Foreign exchange conversion rates and cross-border fees are determined by MasterCard® and computed at the time of the transaction – both retail point-of-sale and ATM*. Because exchange rates are constantly changing, your rate is determined based on the date and time of the transaction. This rate will also be used to convert any applicable bank or ATM fees.



    I found this on the payoneer website!....Shitttty deal.

  10. The Following User Says Thank You to CinnimonKiss For This Useful Post:


  11. #8
    Veteran Member SweetPinkCupcake's Avatar
    Joined
    Aug 2011
    Posts
    605
    Thanks
    1,240
    Thanked 1,441 Times in 386 Posts

    Default Re: About Payoneer's Fee's

    Wow. Goodbye, swiping my payoneer card. Im just making use of cash advances at my bank

  12. #9
    Banned Fridays's Avatar
    Joined
    Apr 2011
    Posts
    2,440
    Thanks
    5,169
    Thanked 4,889 Times in 1,426 Posts
    My Mood
    Daring

    Default Re: About Payoneer's Fee's

    for every $600 I withdraw, Payoneer charges me $13.95.
    Plus the $2-3 ATM fee.
    So for $600 I actually pay $615 or so.
    I never pay anything with my Payoneer card, Just withdraw the cash and pay cash.

  13. #10
    Senior Member bmodel84's Avatar
    Joined
    Feb 2011
    Location
    In a fantasy
    Posts
    122
    Thanks
    157
    Thanked 111 Times in 55 Posts
    My Mood
    Cheeky

    Default Re: About Payoneer's Fee's

    Wow, I havnt used my payoneer in awhile and didnt realize how expensive it is to use. Its a shame that we end up having to withdrawl and pay with cash because for me I always liked the security of using a card and skipping cash for the most part. I always felt better carrying a card around rather than a wad of cash. Stupid fees!

  14. #11
    Veteran Member ElianaIsis's Avatar
    Joined
    Aug 2011
    Posts
    478
    Thanks
    5,642
    Thanked 887 Times in 306 Posts

    Default Re: About Payoneer's Fee's

    Just a heads up, they do have a fee for cash back at the store too. I think it's $3 as well. The fees are crazy considering they get you coming and going, but that is the cost of convenience.

    Honestly the majority of the time I just go to walmart and transfer the money from my payoneer card onto my prepaid account there. It's still costing me $3 cause that's the reload fee on that card plus the 3% on the entire amount, but then I only have to think about it once and not every time I need to use the card.

  15. The Following 4 Users Say Thank You to ElianaIsis For This Useful Post:


  16. #12
    Featured Member
    Joined
    Aug 2006
    Posts
    829
    Thanks
    433
    Thanked 1,332 Times in 328 Posts

    Default Re: About Payoneer's Fee's

    yup robbery i pay over hundreds in fees per month. My rent alone is like 50 bucks more a month because of the fees. Sad actually, and theres no option to transfer to another bank account is there?

  17. #13
    Veteran Member ElianaIsis's Avatar
    Joined
    Aug 2011
    Posts
    478
    Thanks
    5,642
    Thanked 887 Times in 306 Posts

    Default Re: About Payoneer's Fee's

    They do actually have a direct deposit option from what I've read, but then of course you have to wait for that delay at the bank and go by banking holidays and weekends too.

  18. The Following 3 Users Say Thank You to ElianaIsis For This Useful Post:


  19. #14
    Member Paris_doll's Avatar
    Joined
    Dec 2011
    Posts
    52
    Thanks
    30
    Thanked 56 Times in 16 Posts

    Default Re: About Payoneer's Fee's

    Why do you guys use payoneer if its so expensive?
    just curious...

  20. #15
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: About Payoneer's Fee's

    I would also point out that, as of yesterday, all funds transfers from 'foreign' banks across the border into the bank accounts of US citizens are now being scrutinized by IRS / ICE.


    (snip)"What we have is an overlapping system of public sector agreements (between the U.S. and other governments) and private sector agreements (between individual banks and the IRS). A public sector agreement allows for the individual institution to supply information to the IRS, and the presumption is that the banks will indeed do that. But if a bank falls short in its global enforcement on behalf of the IRS, it can be grouped with non-compliant institutions and countries.

    Conversely, the IRS presumes that banks in non-compliant countries will be non-compliant about supplying information, so the 30 percent withholding tax will be required. It then becomes incumbent on the individual bank to decide how it wants to operate going forward. It can choose any of the following actions:

    1) The bank can provide an affidavit to the IRS that it has no U.S. customers -- including U.S. clients with individual assets less than $50,000. By doing so, it is not subject to the withholding tax.

    2) The bank can refrain from doing transactions in U.S. dollars. All U.S. dollar transactions must pass a U.S. Federal Reserve Bank, which is the point at which the US Government can exert authority and control. If a financial transaction is done in, for example, Japanese yen, then it eventually must pass through the Bank of Japan, not a U.S. Federal Reserve Bank -- and so is not subject to IRS withholding.

    3) The bank can choose to protect its clients' privacy and ignore the HIRE Act rules. In that case, any U.S. client will simply have to plan around the 30 percent withholding tax on any transfer made in U.S. dollars (which is, after all, a credit to be claimed on the U.S. taxpayer's account).

    4) The bank can choose to enter into a private agreement with the IRS, and thereby avoid being subject to withholding on transfers in U.S. dollars for U.S. clients -- unless those transfers are to a non-compliant bank.

    So again, it is not a simple issue of an entire country -- or even an individual bank -- being on or off a list of IRS-compliant entities. Like a constantly moving target, countries and banks will be moved on and off the lists of which are compliant and which are not, depending on how well they show their willingness to enforce the new law.

    As a result, the estimated enforcement cost of the HIRE Act -- which is being thrust onto banks worldwide -- is many times higher than the anticipated increase in tax revenue collection

    The law is actually an unprecedented effort by the U.S. to bring every bank in the world under its domain and control in regard to financial transactions by U.S. persons. So, you can imagine that unless a foreign bank has a significant number of U.S. clients (and significant income from those clients), they probably will be inclined to simply not accept U.S. clients after the law goes into effect."(snip)

    from


    ... the point here is that Payoneer's 'credit card' status makes it one of the few remaining methods of bypassing IRS reporting requirements ( and potential 30% IRS estimated tax withholding requirements ) by foreign banks.

    ~
    Last edited by Melonie; 01-02-2012 at 12:50 PM.

  21. #16
    Banned
    Joined
    Aug 2010
    Posts
    2,724
    Thanks
    2,845
    Thanked 3,510 Times in 1,483 Posts
    My Mood
    In Love

    Default Re: About Payoneer's Fee's

    Payoneer is US based I thought? New York.

    I always thought cash back was free? Cross border fee's shouldnt apply if your in the US using a US card though? Can anyone have a Payoneer rep verify any of this thread as some readers may take some things above to be fact with no evidence.

  22. #17
    God/dess SarahTime's Avatar
    Joined
    Jul 2011
    Location
    Texas
    Posts
    3,681
    Thanks
    8,041
    Thanked 13,685 Times in 2,854 Posts
    My Mood
    Inspired

    Default Re: About Payoneer's Fee's

    They charge you a percentage of every purchase as a conversion fee. This is why I refuse to use them. I would rather pay the fed ex fee once and deposit it into the bank. I use my debit card way too much, the fees were adding up to ridiculous amounts just to use my payoneer card.

    I am in the US also and when I called them to figure out why it cost me so extra on each purchase they said it was the conversion fees.
    xoxo ~ Sarah




  23. #18
    Banned
    Joined
    Aug 2010
    Posts
    2,724
    Thanks
    2,845
    Thanked 3,510 Times in 1,483 Posts
    My Mood
    In Love

    Default Re: About Payoneer's Fee's

    What is it thats being converted though, super confusing

  24. #19
    Banned Melonie's Avatar
    Joined
    Jul 2002
    Location
    way south of the border
    Posts
    25,932
    Thanks
    612
    Thanked 10,563 Times in 4,646 Posts
    Blog Entries
    3
    My Mood
    Cynical

    Default Re: About Payoneer's Fee's

    Cross border fee's shouldnt apply if your in the US using a US card though?
    Only if the originating bank for the Payoneer funds is also in the USA ! If those funds come from a foreign bank ( i.e. StreamMates or other non-US based webcam hosts ) then a cross-border transfer is in fact taking place.

    I was able to determine that Payoneer actually 'aggregates' payments received ( from US or non-US sources ) at the state chartered First Bank of Delaware. From this overall 'aggregate' account, funds are then transferred as required to individual Payoneer debit card accounts in the names of the individual payees.

    Also, if a non-US based webcam host is actually paying Payoneer in Euros, for example, then every US dollar denominated transaction by a US camgirl debit card holder will involve a 3% 'conversion' fee to convert the original Euros into US dollars. In fact, with the new laws taking effect, non-US based webcam hosts are now virtually forced to conduct their cross-border funds transfers into the USA using some currency OTHER than US dollars in order to avoid the IRS 'foreign bank compliance' and potential 30% estimated tax withholding for US payee issues as discussed above( under option #2 ).

    ~
    Last edited by Melonie; 01-02-2012 at 02:02 PM.

  25. #20
    Banned
    Joined
    Aug 2010
    Posts
    2,724
    Thanks
    2,845
    Thanked 3,510 Times in 1,483 Posts
    My Mood
    In Love

    Default Re: About Payoneer's Fee's

    All above my head, will ask Nissim to add some info.

  26. #21
    Banned
    Joined
    Aug 2011
    Location
    Aboard The Spaceship
    Posts
    4,787
    Thanks
    3,183
    Thanked 10,142 Times in 3,290 Posts
    My Mood
    Breezy

    Default Re: About Payoneer's Fee's

    I know that if you take out ANY amount of money with "cash back" (think Walgreens or grocery stores), they still charge you the Payoneer fee that's like $2.85 or something per transaction. No matter if I take out $20 or $100+, and no matter the store. So its like, I might as well just go to a random bank's ATM and spend the $5.00 + $2.85 to withdrawl $500 and just pay cash...

  27. #22
    Banned
    Joined
    Aug 2011
    Location
    Aboard The Spaceship
    Posts
    4,787
    Thanks
    3,183
    Thanked 10,142 Times in 3,290 Posts
    My Mood
    Breezy

    Default Re: About Payoneer's Fee's

    Quote Originally Posted by PrincessJenny View Post
    Payoneer is US based I thought? New York.

    I always thought cash back was free? Cross border fee's shouldnt apply if your in the US using a US card though? Can anyone have a Payoneer rep verify any of this thread as some readers may take some things above to be fact with no evidence.
    I thought they were based in Belize?

  28. #23
    Veteran Member
    Joined
    Jul 2011
    Location
    The South
    Posts
    311
    Thanks
    1,839
    Thanked 945 Times in 235 Posts

    Default Re: About Payoneer's Fee's

    Quote Originally Posted by PrincessJenny View Post
    What is it thats being converted though, super confusing
    They charge us conversion fees because of where the bank is located. I am in the US but the bank that my payoneer card uses is based in Belize. So even though I live in the US, it doesn't matter because I'm using an international bank which makes all of my transactions international transactions. I get charged an extra 3% on ATM withdrawals.

    I asked Nissim a few months ago about this and he said they were trying to get more US based banks for their cards but apparently that hasn't happened yet.

  29. The Following 3 Users Say Thank You to Avamonet For This Useful Post:


  30. #24
    Banned
    Joined
    Aug 2011
    Location
    Aboard The Spaceship
    Posts
    4,787
    Thanks
    3,183
    Thanked 10,142 Times in 3,290 Posts
    My Mood
    Breezy

    Default Re: About Payoneer's Fee's

    Quote Originally Posted by Paris_doll View Post
    Why do you guys use payoneer if its so expensive?
    just curious...
    DailyPay, easy & almost guarenteened on time payment option (versus checks that are always getting lost), fees are often just as much or more if you use FedEx check options or wire deposit.

  31. #25
    Banned
    Joined
    Aug 2010
    Posts
    2,724
    Thanks
    2,845
    Thanked 3,510 Times in 1,483 Posts
    My Mood
    In Love

    Default Re: About Payoneer's Fee's

    Got some info from Nissim-Payoneer:

    "Payoneer doesn't charge you per transaction. However, rules and regulations with international banking may cause MasterCard and our issuing bank to impose what's called a "cross-border fee" when USDs pass from one country to another, as in our case (our bank is Choice Bank in Belize).

    The fee for USD transactions outside of our bank's issuing country should only be up to 1.8% (it can be lower). As mentioned, this is not a fee imposed by Payoneer, and we do not profit from it. In fact, it's a fee common to all banks and credit/debit cards operating in these conditions.

    If anyone is experiencing a fee of more than that (1.8%) please have them PM me their e-mail address (as listed on the Payoneer account) so that I could look into it.

    Regarding cashback, the method in which merchants are now processing these transactions may be what's causing the confusion. When withdrawing cash from an ATM, while Payoneer has a fee for it, the fact is that the majority of that fee is charged by the operating ATM and our issuing bank. When getting cashback on a purchase, some merchants are now processing the transactions as an ATM does, and therefore the transaction triggers the standard ATM cash withdrawal fees.

    In regards to the comment about partners paying in Euros and therefore causing a conversion charge to all cardholders, this is incorrect. If there is any kind of conversion regarding the partner's direct transfers to Payoneer, they're done between Payoneer and the partner. The cardholders will in no way be penalized or charged for partner transfers to us behind the scenes, and no USD transaction will ever be charged an international currency conversion fee. As I mentioned previously, the cross-border fee imposed by MasterCard should be only 1.8%.

    I've been reading through the entire thread, and do apologize that I cannot comment personally. I encourage anyone who would like to post on the Payoneer support thread to do so, as I will be able to reply there, and of course contact me directly via PM. In the OPs case, for example, we definitely are not charging any fee that would bring a $23.75 USD transaction to $28.00, so I'd like to be able to check the account details there.

    Thanks"


    "Payoneer is a US based company. The cards are issued by Choice Bank in Belize."
    Last edited by PrincessJenny; 01-03-2012 at 06:13 AM.

Page 1 of 2 12 LastLast

Similar Threads

  1. $250 house fee (Fri. and Sat.) & $200 house fee (weekdays)
    By emily405 in forum Stripping (was Stripping General)
    Replies: 30
    Last Post: 04-22-2013, 08:28 PM
  2. Payoneer Cashback Fee HeadsUp
    By GlamourRouge in forum Camming Connection
    Replies: 7
    Last Post: 10-21-2011, 02:50 PM
  3. stage fee
    By tennisqt in forum Stripping (was Stripping General)
    Replies: 36
    Last Post: 02-09-2008, 08:48 AM
  4. Not even my house fee......
    By Pure in forum Stripping (was Stripping General)
    Replies: 18
    Last Post: 12-16-2006, 01:53 PM
  5. how much is your house fee?
    By REDHED in forum Stripping (was Stripping General)
    Replies: 30
    Last Post: 03-18-2005, 11:54 AM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •