Credit Or Debit? [Payoneer Card]

ForbannetForbannet Member Posts: 2
[couple questions regarding my Payoneer card.]
Greeting everyone!

My name is Djalma; I'm from Brazil and started using Payoneer recently. So far I loved it.
I work as a freelance translator and programmer [C+/C#/Au3] on oDesk; and I send all my earnings to my payoneer account.

The transaction speed is extremely fast and the fees are low.

This is my card (the numbers and info are hidden so its ok mods/admins)
2wd7fc7.jpg



I use this card Online (for example in Blizzard Store for World of Warcraft) and it works just fine.
And I also use this card in "real life" such as buying in a regular store/supermarket here (In Brazil.)

Whenever the cashier/clerk inserts my card into the card-machine, it asks if it should be used as a Debit or Credit.

If I try to use as a Debit card, it will ask for a password; so I have to type in my password (my PIN). But the transaction always fail. Always.
By the other hand, if I use it as a Credit card, it works just fine. It doesn't ask for a password and *BLING*, it works.

So its a Credit card? [einstein?]

Another question is:

My Girlfriend, she's also a freelancer on oDesk and she just applied for a payoneer card (She did not receive it yet.)

My account and and hers account are a little bit different; and it looks like she is going to pay 9.95USD for card activation and 3.00USD for each month.
While I had to pay 29.95USD for the annual maintenance and there is no activation fee...

So what came up to my mind is that I didn't pay attention and when I signed up for my account I applied for a regular Payoneer, not oDesk payoneer. (Which is fine for me since I already paid the fee and the card is indeed working fine.)


Is my card Credit or Debit? What are the differences? can I add a "oDesk" payoneer card to my account so I will have both cards sharing the same balance? Is the conversion fee from the Debit Card and the Credit card different? (because my currency is BRL so the funds are converted from USD to BRL, and the fee on my card at least is VERY NICE; I have a Citibank Debit Card that rips me off whenever there is a currency conversion)

Sorry for the rant, and thanks for the attention.

Comments

  • NissimNissim Head of Community Administrator Posts: 3,749 ✭✭✭✭✭✭✭
    Hi Djalma,

    Thanks for joining our forum and sharing your experience with us! We're very happy to hear from you.

    The Payoneer card is a prepaid debit card, meaning it does not draw on a line of credit and can only be used up to the available card balance at any given time. When purchasing in stores, you can charge it as "credit", since the card is not linked to a bank account. Debit transactions in stores, with PIN confirmation, are generally to charge bank debit cards. It a subtle difference, and I do apologize for any confusion.

    Your PIN would be needed when withdrawing cash at an ATM.

    I'm also happy to hear that your girlfriend has chosen Payoneer! Payoneer provides payment solutions for over 2,000 companies, allowing each one to customize our services to best suit their needs. As such, pricing and fees may vary, depending on the partner program you apply with.

    You cannot have more than (1) active card per account, however you can link your card to additional partner accounts and receive all your payments onto the same card.

    As for conversion fees, there is no difference between "credit" and "debit." The rates are based on MasterCard's official currency exchange rates at the time of purchase.

    Thanks again for taking the time out to share your experience with us, and if you have any additional feedback or suggestions we'd be more than happy to hear them :)
    Nissim
    Director of Community at Payoneer
  • ForbannetForbannet Member Posts: 2
    Thank you for the swift answer;
    I intend to keep using Payoneer for a long time by now; simply because Payoneer Mastercard is not a RIP-OFF when it comes to currency conversion.

    I will give you some numbers so you'll understand what I mean;

    My VISA Debit Card currency is USD
    My Mastercard Payoneer is also USD.

    But when I do transactions in Brazil, there is a conversion; ( no problem, I can live with that )

    Whenever I purchase something I'll have the purchase "value" in my Currency and also in USD.

    So lets Imagine I go shopping and I spend 10.00BRL (which is the Brazilian Currency).

    1USD = 1.89BRL

    1USD(on my VISA Card) = 1.48BRL

    1USD(on my Payoneer Mastercard) = 1.86BRL (Very fair.)


    If I spend 10.00BRL on my VISA, VISA(Citi) takes away 6,76USD from my balance.
    While with my Payoneer Mastercard, Mastercard(Payo) only takes away 5.37USD from my balance (lovely.)


    I knew for a long time that this conversion was totally wrong, they are rip-offs, since I had no other option I kept using my card for everything for over 2years, I've lost a couple hundred (if not thousand) dollars in "wrong conversion".


    So it seems that from now on I will move all my funds to my Payoneer account, Payoneer is not ripping me off, and it seems that Mastercard does not OVER-EVALUATE my Currency just like Visa does; also, when you TRY TO ____BUY____ Dollars from Visa, they will sell you for 1,92BRL; 1,94BRL, while when you try to SELL THEM YOUR DOLLARS they will pay 1,45BRL, 1,48BRL.

    I will also tell my friends (who also suffer from the same problem) to use payoneer, it will simply fix their problems! Payoneer is not a rip-off.


    Thank you Payoneer!.
  • NissimNissim Head of Community Administrator Posts: 3,749 ✭✭✭✭✭✭✭
    Thanks for the kind words! I'm glad to hear that you're satisfied with our service :)
    Nissim
    Director of Community at Payoneer
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