ATM Transaction fee

axbxcxdaxbxcxd Member Posts: 1
Can anybody tell me about the atm transaction fees taken by our local atm booths?
I heard that when withdrawing money from atm, there is 15% vat. Is it true?

Comments

  • [Deleted User][Deleted User] Posts: 595
    Hi @axbxcxd, when using your Payoneer Card at the ATM, please note that the following fees can potentially occur:

    1. Payoneer's ATM withdrawal fee (Please note: Cash backs are treated as ATM withdrawals and are charged at our flat withdrawal rate).

    2. A currency conversion/cross border fee.

    3. A surcharge imposed by the owner of the ATM you are using (Payoneer has no jurisdiction or foreknowledge over a surcharge fee imposed by an outside bank or ATM).

    To view your pricing and fees, please log in to your Payoneer Account and select the "Pricing and Fees" tab located under the "Help" menu.

  • paulwilliamspaulwilliams Member Posts: 26 ✭✭
    Ok, I just received my Payoneer card and after reading the above I am dubious.

    They take 1% of my money just for receiving it...
    Then another $3 if I buy milk?
    Then another $30 per year for annual fees
    Then another 3% currency conversion fee
    ....

    Is there anyway to use a Payoneer card without losing mass sums of money ?
  • paulwilliamspaulwilliams Member Posts: 26 ✭✭
    I just put $50 in the new account , I haven't used it yet - now it's $20 ... WOW.
  • paulwilliamspaulwilliams Member Posts: 26 ✭✭
    edited January 2016
    I haven't received a single email back from Payoneer about the account - they sent the card pretty quickly but if I start using it I'm afraid of all the fees....

    Any help here please.

    If I withdraw $1000USD.

    Visit my ATM >> withdraw $1000USD

    What are the total fees for this? Doing bulk withdrawels is probably the only way with Payoneer.

    1% card fee = $990
    3% cross border fee = $960 USD
    $3 ATM FEE = $957 USD
    + Hidden FEES ???

    Therefore , my $1000 USD will become $957 USD overall ?

    4.3% FEE on all transactions overall with Payoneer...

    These breakdowns aren't clearly shown on Payoneer's website , it's up to the forum users to explain these multitude of fees ?
  • রিংকু মানবরিংকু মানব Member Posts: 11 ✭✭
    You are right :) . it is their business dear . not charity institution :)
  • peterfreelancernzpeterfreelancernz Member Posts: 3
    edited June 2020
    Hello!
  • LauraPayoneerLauraPayoneer Confirm Email, Member, Administrator, Moderator Posts: 716 ✭✭✭✭✭✭✭

    @peterfreelancernz how can we help you?

This discussion has been closed.