Mastercard Exchange Rate

ztalk112ztalk112 Member Posts: 2
I withdrew 20 New Zealand Dollars from an ATM (in New Zealand) today and it cost me 20.42 US Dollars (according to my Payoneer account).
 
I withdrew the same amount from my PayPal account today and that cost me USD 17.21
 
So the Payoneer Mastercard rate is 18.6% more expensive than the PayPal exchange rate . . . and that doesn't include the fee incurred to transfer funds into my Payoneer account.
 
Is that normal?
 
If it is, I won't be using Payoneer in future.

Comments

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

    Hi,

     

    Please note that your Payoneer card has an ATM cash withdrawal charge of $3.15 - this is most likely the difference in charges that you are seeing. 

     

    You can avoid ATM fees by making purchases online or in stores. In addition, you have the option to withdraw funds from your Payoneer account to your local bank account, in NZD. We support local bank transfers to New Zealand which means that we'll send your funds from a local bank in your country. This is a much quicker and lower cost payment method when compared to traditional wire solutions.

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