Private Load Fees Confusion

Howard SHoward S Member Posts: 52 ✭✭

Hello,

 

I'm a little bit confused about the private load fees and would really like an answer.

 

Private loads attract a fee of 3.75% which is paid by the loader or the person receiving the funds, but when you go to put in your credit card, there I see a transaction fee of 3.75% I guess for processing the credit card, is this so?

 

Do I have to pay the 3.75% twice, please explain?

 

Howard 

Comments

  • RomiRomi Community Manager Member Posts: 2,542 ✭✭✭

    Hi Howard,

    Please note that the 3.75% charged in connection with posting private payments goes to covering the credit card processing fees that Payoneer is charged by the credit card companies and the payment processor.

    When posting a payment you can choose if you'd like the fee taken off the loaded amount, in which the calculation would seem "straightforward": if you load $1000 the 3.75% is $37.5 as you would expect.

    If you choose to pay the fee on top of the amount loaded, then the $1000 that is loaded onto the payoneer card is actually the 96.25% that remains after we deduct the fee of 3.75%.
    In this case we charge you $1039, so that after we deduct the 3.75% we end up with $1000, which is loaded to the card.

    And indeed if you calculate 3.75% of $1039, you'll find that it's $39.

    Romi

    Community Manager at Payoneer


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  • Howard SHoward S Member Posts: 52 ✭✭

    Hi Romi,

     

    So in this instance you only charge 3.75% once?

     

    Howard 

  • Howard SHoward S Member Posts: 52 ✭✭

    Check the image please, why is there a second 3.75% in the credit card payments section?

     

    Howard 


  • RomiRomi Community Manager Member Posts: 2,542 ✭✭✭

    Hi,

    For the load we charge %3.75 - which amounts to $20.75 (this is since you chose to pay the fees), then there is a %3.75 fee on top of the $20.75, which results in $20.78 total.

    Romi

    Community Manager at Payoneer


    Find us on Facebook & Twitter

  • Howard SHoward S Member Posts: 52 ✭✭
    edited April 2014

    So I wasn't being wrong then about 2 fees, you would charge the loader twice if they decide on paying the load fee or charge the loader and receiver in essence.

     

    This is a little more expensive than PayPal, even when you withdraw to the USPS.

     

    Howard 

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