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Very low exchange rate used to transfer my latest payment.

sprabha684 Member Posts: 1
edited June 2020 in Ask The Community

I recently asked the payment from fiverr and got very less exchange rate and I asked them in support and got their reply as
"The Global Bank Transfer fee in your local currency is $3 per transfer.
The currency exchange rate is 2.75% above market rate at payment transfer time."

Pretty unprofessional and they did not understand my query.

That day exchange rate was 1 US Dollar = 61.94 Indian Rupee
Check in attachment.

Payment Amount: $1041.00
Transfer Fee: $3.00
Amount Transferred: 55227.28 INR

This is no where make near the exchange rate.

$1041.00 - $3 = $1038
55227.28/1038 makes 53.20 INR per US dollar?

Kindly tell me why so less exchange rate and what is going on?

Can some one tell me what is this nonsense? I am done with payoneer for my payment now.
Such a worst service and support.

Anyone has its India contact number so I can discuses.



  • Nissim
    Nissim Administrator Posts: 3,602 ✭✭✭✭✭✭✭
    You'll need to send this e-mail to [email protected] (including the information you provided here) so that a representative from our payments department can check the transfer and assist you further.
  • atulnarang
    atulnarang Member Posts: 14 ✭✭
    I think I am unnecessarily struggling to get Payoneer working when it is not really worth it looking at this. I would certainly not like to get my hard earned money getting eaten up by the middle men like Payoneer. I feel sorry for this guy for trusting Payoneer.
  • Nissim
    Nissim Administrator Posts: 3,602 ✭✭✭✭✭✭✭
    Just to update that we identified this as a technical issue and have refunded all affected account holders. We are continuously monitoring our system to ensure that similar issues do not happen again in the future.