General Questions Before Signing Up

I will be moving to Cambodia in 3 months. I also have two software products I will be selling online soon.

First question is since ATMs in Cambodia dispense US dollars, what foreign currency fee would I be charged when using the Payoneer mastercard?

Second question is I am considering either Avangate and Fastspring for my merchant account service provider. Are the Payoneer fees with these companies the same or do fees vary by company? If they vary can you tell me which company has the lower fees?

Last question is how long is the Payoneer valid from date of issue before a new card must be ordered?

Thank you

Comments

  • NissimNissim Head of Community Administrator Posts: 4,013 ✭✭✭✭✭✭✭
    edited May 2012
    Hi Mike,

    When making purchases in a foreign currency (non-USD) or outside the US, a conversion fee of up to 3% that may be applied.

    As for card fees, you should choose whichever partner program is better suited to your need. Pricing is based on the specific program and requirements if its users, and in general is very similar when compared.

    Edit: Cards are generally given an expiration date of 3 years after the issuing date. A couple months prior to expiration, you can receive a new card (free of charge).
    Nissim
    Director of Community at Payoneer
  • Mike MillerMike Miller Member Posts: 4
    Nissim

    I appreciate the fast response. The term "a conversion fee up to 3%" is a bit ambiguous as it sets a ceiling but does not list a minimum. Is there in fact a minimum, why would it be this low and under what situation could it go as high as 3%?

    Thanks
    Mike
  • NissimNissim Head of Community Administrator Posts: 4,013 ✭✭✭✭✭✭✭

    Nissim

    I appreciate the fast response. The term "a conversion fee up to 3%" is a bit ambiguous as it sets a ceiling but does not list a minimum. Is there in fact a minimum, why would it be this low and under what situation could it go as high as 3%?

    Thanks
    Mike


    Hi Mike,

    When making foreign currency transactions, or transactions outside the US, there are a few different parties involved (MasterCard, Payoneer and our issuing bank). There is no minimum set, and for most transactions you will see conversion charges of between 1-3% (where applicable).
    Nissim
    Director of Community at Payoneer
  • Mike MillerMike Miller Member Posts: 4
    Nissim,

    Is there any way to know in advance when the fee will be closer to 1% versus 3% by going to a website and getting this info prior to making a withdrawal? A 2% spread could add up to quite a difference over a period of time based on the amount of withdrawals.

    Thanks again
    Mike
  • NissimNissim Head of Community Administrator Posts: 4,013 ✭✭✭✭✭✭✭
    Hi Mike,

    I do not believe that such details would be listed as it may depend on many factors including the currency, country and merchant, however if you could PM me with the e-mail address on your Payoneer account I would be more than happy to check with our card processor and get back to you.
    Nissim
    Director of Community at Payoneer
  • Mike MillerMike Miller Member Posts: 4
    Nissim, I won't have a Payoneer account until after my products are ready and I sign up with Fastspring who I believe I will be using to process my sales. Once I do that should I post again here again, or would it be better to contact you direct?

    Thanks again
    Mike
  • NissimNissim Head of Community Administrator Posts: 4,013 ✭✭✭✭✭✭✭

    Nissim, I won't have a Payoneer account until after my products are ready and I sign up with Fastspring who I believe I will be using to process my sales. Once I do that should I post again here again, or would it be better to contact you direct?

    Thanks again
    Mike


    Hi Mike,

    You can feel free to post again her, or also feel free to contact me directly at any time.
    Nissim
    Director of Community at Payoneer
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