ATM Fees

charlie566
charlie566 Member Posts: 1 ✭
in Ask The Community
I know that Payoneer charges $3.15 when you withdraw money from your account using an ATM. But where is this shown when you look at a transaction on the Payoneer dashboard? Is it included in "Transaction Amount" or is it included in "Fee"?

Anyone have any knowledge on this?

I'd assume "fee", but if so, the currency conversion rate (set by Mastercard) is adding 5% to the mid-market rate, which doesn't sound right. It should only be about 0.3%, I believe.

Example, from a withdrawal of 2000 Thai Baht I made last year when the exchange rate was 35 Baht to the US dollar:
Transaction Amount: $60.24
Fee: $10.36
Total amount: $70.60
(Using the mid-market rate on that day, 2000 baht should have cost me $57.08. The difference between that, and the actual transaction cost, was $3.16, which is why I was wondering if Payoneer's fee is included in the transaction amount).

It would also be nice if the Payoneer dashboard broke down all the fees, and showed the conversion rate being used.

Comments

  • [Deleted User]
    [Deleted User] Posts: 179 ✭

    Hey, I saw your message regarding your issue on the thread. We unfortunately do not have the tools to assist you with this matter through the forum. Please know that the forum is reversed for general topics and not individual issues.

    In order to have someone from our support to take a look at this issue and answer your questions, i suggest you directly contact our support via Chat, email or phone at 1-646-658-3695.
    Please use our forum channels for general discussions only and not individual issues, thank you!

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