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Paypal vs Payoneer

Inspirawtion
Inspirawtion Member Posts: 1 ✭
in Ask The Community
Hello Guys.
So far I have used paypal and witdrawed money to my bank account where I don´t have to pay any fees only like 1 dollar for withdrawal from ATM machine. What would be advantage for me to use payoneer? Would I save any money that way? So far it seems to me that I would have to pay yearly fee of 30 dollars and I would pay like 3 dollars for withdrawal from ATM machine. What am I missing? Are there better exchange rates for dollars or what?
Thanks a lot for your answers :-)

Answers

  • molay30
    molay30 Member Posts: 1 ✭
    o:)
  • TristanP
    TristanP Member Posts: 49 ✭✭
    In my case: I do live in the Netherlands were, in general, only EUR accounts are possible. I do earn some money in USD, which is paid out to PayPal and/or Payoneer. So by using Payoneer I avoid currency conversion at all, as much as possible. Besides that I travelled 6 times to countries outsides the Euro zone over the last 2 years. You could imagine how conversions would've summed up without using Payoneer.
    Also I have an USD bank account in Romania. Withdrawing money to it from my PayPal account directly is not an option, as PayPal only supports Dutch and American bank accounts for Dutch citizens. Payoneer did offer a great service here!
    As for exchange rates my experience is that some banks are indeed quite expensive. For instance I noticed one of Payoneer's competitors is offering better exchange rates on their online platform than Raiffeisen Bank Romania does. So well.. I may imagine Payoneer may compete well with most banks.
    Long story short. I saved a whole lot more then 30 dollars by using Payoneer. :) (I fact I think a lot of their clients did over the last months alone, by not needlessly converting dollars in whatever.)

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