Withdrew money to my bank account, $50 gone

mark8989mark8989 Member Posts: 1

Hello,

 

A week ago, I withdrew $600 to my bank account. Payoneer deducted $12 fees.

 

Just today I called my bank and asked if any bank wire arrived, I was told only $532. My local bank confirms that they only charges me $6 in fees. So I should have received $582 after Payoneer and my bank fees. I wonder what happened to the other $50? This made me worry of withdrawing large amounts. Hope a staff can help.

Comments

  • RomiRomi Community Manager Member Posts: 2,542 ✭✭✭
    edited June 2020

    The Card to Bank fee in your local currency is with the conversion exchange rate of 2-2.75% above market rate at payment transfer time.

    The Card to Bank fee in USD is 2% of the total amount per transfer.

    Please be advised, there are 2 options to charge the fee:

    1. The option “add fees to amount” will have the fees charged from your bank account.
    2. The option “deduct fees from amount” will be charged directly from the transfer before it is transferred to your bank.

    Please be advised, when sending a USD Wire other corresponding banks are often involved in the transfer, and therefore charge corresponding fees. In addition, the beneficiary bank may charge landing fees.

    Payoneer has no control over the additional fees that are deducted by the other banks.

    Should you require further assistance or information, please contact us at [email protected]

     

    By the way, I see that the amount withdrawn was $588.

    Romi

    Community Manager at Payoneer


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