Payoneer Questions

[Jel]

Looking for feedback on payoneer, few questions:

1. There are 2 different types of payoneer sponsor payments, one that payoneer deposit directly into your bank (eg streamate method), the other similar to epass/paypal where it stays in your payoneer account, and you can transfer out manually, or use an atm card - that correct?

2. Depends solely on the sponsor which of the above 2 methods they use - that correct?

3. Do you HAVE to have an atm card, or can you choose not to, and just transfer funds to your bank?

4. Euro guys... Idiotic fees for transferring funds to non-US banks?

cheers.

[Adraco]

Originally Posted by Jel

Looking for feedback on payoneer, few questions:

1. There are 2 different types of payoneer sponsor payments, one that payoneer deposit directly into your bank (eg streamate method), the other similar to epass/paypal where it stays in your payoneer account, and you can transfer out manually, or use an atm card - that correct?

2. Depends solely on the sponsor which of the above 2 methods they use - that correct?

3. Do you HAVE to have an atm card, or can you choose not to, and just transfer funds to your bank?

4. Euro guys... Idiotic fees for transferring funds to non-US banks?

cheers.

Payoneer is different in the way that it may work a little different from case to case, depending on which sponsor you gor the card from. For example the fee schedule will be different depending on who is youe "originating sponsors" the one you first got your account from. I made a post here about that few years ago.

As far as I know and understand, your Payoneer account is directly tied to a card, which means you need to get the card but you can choose to never use the card itself. But your account and card is the same, there is not like in Paxum one checking account and one card account, here your account number IS your card number. So if you want to see old transactions, you need to slect one of your old cards and then those transactions which happened when that card was active, will show up.


I will answer from my own experience, where I have my card/account originating from AWE/LiveJasmin.


1. Yes, there are even three different "types" of payment coming into your account. Two goes into our account/card and stays there until you choose to do anything with it and one that goes from sponsor, via Payoneer and then into your bank account without you having to do anything. The two that goes into your account are both similar, a sponsor payment comes in, you get an email and you can choose to load it to your account in 2 days time and it will cost $2 fee to receive the payment. Or you can choose to have it loaded to your card/account within 2 hours and then pay a fee of $5.

For the payments that are transferred int your account/card, you can then choose to withdraw to your bank or at the ATM with your card.

Note that the withdraw to bank account is not available for all countries, check if your's is on this list: https://www.payoneer.com/products/lo...nk-withdrawal/

2. As far as my understanding goes, you can make choices and settings within Payoneer to handle the payments as you'd like. The only setting I do not seem to be able to do, is to always choose to load incoming funds with the 2 day load time and the $2 fee. They always ***give me the option*** to get it within 2 hours for the $5 fee. And you can also choose to Always use the 2 hour fund loading time for the $5 fee. I assume you can also choose to always have funds cirectly deposited into your bank account.

3. Answered above, but as far as my understanding goes, yes you have to get the card. But the card in itself is free of charge. Your card number is your account number. There is, however, a $2 monthy maintenance fee on your account, as long as you have money in it. If your account is at $0, then no fee will be charged that month.

4. No idiotic fee, I think the transfer to bank account costs $8.95 or for some cards/accounts it is 1% -3% of the amount.

I am also not sure, but I thought I read somewhere that Payoneer was using Pacnet/Chexx Inc for their withdrawal to bank account service and since they shut down, Payoneer would only be using the card withdrawal but I cannot really find that right now, so I may be wrong here.

[Jel]

Thanks for the input Adraco.. my current payoneer sponsors (only 2) are the 'global transfer' or some such, I have never had a physical card, nor the option of one, it just goes direct to my bank for a $3 fee.

Seems that I'll need to get one then for the majority of sponsors who use payoneer in a 'paypal style' method. Thanks again mate for all that, it's very helpful

[Sid70]

There is also a Europayment service with Payoneer, you can have a EURO card and virtual German bank account.

[NatalieK]

I have a payoneer account with no card. The money is transferred into my account from several companies, just giving them the payoneer connected email address. There's a charge of $3 on every transaction & no charge or fees for it being placed into my account with euros.

Hope that could be some added information for you Jel!