New fees!!!

kanastaskanastas Member Posts: 3
edited December 2015 in Ask The Community
I have a question about the new fees.
1. Card Activation - Listed Countries $24.95
My country is listed here, will I have to pay this?
I have already payed $29 last month, and i already loaded money on my card, that mean i shouldn't pay this?
2. There is a fee for transactions originated in a country outside of the country of issuance OR in a currency different than the card currency of up to 3% above all fees assessed by MasterCard.
My payoneer is in USD, but ATM withdrawals in my country only works in local currency. This mean i will have to pay the 3%?
And is it 3% calculated on fees, or on total amount of money i withdraw?

Comments

  • Adam_PayoneerAdam_Payoneer Administrator Posts: 1,105 ✭✭✭✭✭✭✭
    Hi,

    1). Correct. There is no way you would have to pay over $50 for activation of the card and annual fee, we don't have a single program that has that kind of outrageous fee.
    The way our fees work in regards to first time users is that depending on how the account is registered, the account either has a yearly annual fee or a one time activation fee for receiving the card. 

    2) Correct. Apart from the ATM fee, you may encounter a fee of 1%-3% of the amount you withdraw. This is common when making transactions in a currency other than the one supported by your card. The currency conversion fee that takes place is calculated by the total amount of money you withdrew, not any ATM fees that are associated unless the ATM fee is associated with the bank were you withdraw your funds from. 

    Happy and willing to answer general questions.

    For any inquiries directly associated to your Payoneer account, please contact Payoneer's Customer Care Support Center.

  • kanastaskanastas Member Posts: 3
    Thank you.
    Just to clarify 3% is the amount calculated of the middle exchange rate?
    For example if the exchange rate is 1:100, i would get 1:97?
  • Adam_PayoneerAdam_Payoneer Administrator Posts: 1,105 ✭✭✭✭✭✭✭
    The conversion fee is not deducted from the amount you are suppose to receive.

    The best example would be if you plan to withdraw money in your local currency and with conversion the dollar amount if $100. The 3% fee you would pay would be based on the dollar amount. 3% of $100 is the $3 fee for the conversion. Total transaction would be $103. 

    Happy and willing to answer general questions.

    For any inquiries directly associated to your Payoneer account, please contact Payoneer's Customer Care Support Center.

  • kanastaskanastas Member Posts: 3
    Another question.
    Does annual fee still exists?
    I payed 29.95$ last month for annual maintenance.
    Now i pay monthly maintenance too.
  • Adam_PayoneerAdam_Payoneer Administrator Posts: 1,105 ✭✭✭✭✭✭✭
    kanastas Annual fees and monthly maintenance fees never apply under the same card program. The only way this could happen is if you switched your card program. Should that be the case, you will now pay only monthly maintenance and not have to pay the annual fee. 

    Basic example would be is that an account created through Payoneer only has a yearly annual fee of $29.95, whereas having a card program registered with Fiverr or Freelancer for example may incur a monthly maintenance fees.

    No two programs are ever the same in regards to these fees as it depends on the agreements with the website that pays through Payoneer. 

    Happy and willing to answer general questions.

    For any inquiries directly associated to your Payoneer account, please contact Payoneer's Customer Care Support Center.

  • paulwilliamspaulwilliams Member Posts: 26 ✭✭
    if I use my card at a convenient store , over the counter , what are the fees?

    I don't want to buy milk for $3 and be charged another $3.

    eg : $6 Milk
  • Adam_PayoneerAdam_Payoneer Administrator Posts: 1,105 ✭✭✭✭✭✭✭
    I assure you that you won't pay another $3 for a $3 purchase. You can read about the estimated rates for card transaction and withdraws to your bank via the following link: 
    http://blog.payoneer.com/everything-you-need-to-know-about-conversion-rates/

    Happy and willing to answer general questions.

    For any inquiries directly associated to your Payoneer account, please contact Payoneer's Customer Care Support Center.

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