Payoneer ATM fees

codenpixelcodenpixel Posts: 1Member
Hello,

I'm trying to find formula for fees on ATM witdrawal.I have read most of the help section and cant figure out how do they came to that exact amount,which is,in my opinion too large.
Simple withdrawal of
419.82 amount
17.84 fees taken
437.66 total amount

Thats ATM fee of 3.15 + 4%

How these 4% fits in the story ?

Any help ?
Thanks,

Answers

  • Chris CChris C Posts: 6Member
    you are withdrawing exactly 419.82? And is that in one operation? It´s not exactly 4% according to the numbers, did the atm say anything about fees before you withdrew?

    As far as i know, some ATMs have their bank´s fees on top of the 3.15, some don´t have additional fees at all, and if you are withdrawing in a different currency there might be some weird conversion rates. Some i have encountered only give out even numbers, so i cant withdraw 29 from them for example.
    Either way, i think payoneer has control over the 3.15 part, the other depends on which bank´s atm you are withdrawing from, cause it´s different in a lot of places i tried. Here where i am, i usually pay a flat 5 on top no matter what the amount withdrawn. So for a 100 withdrawal it´s basically 5%, makes more sense to do it with larger numbers.

    Thats all i know
  • jgonzalezdjgonzalezd Posts: 1Member
    edited December 3
    It's not clear how they charge. But here's what I was told after withdrawing 185.16 USD from an ATM in colombia that charges 4 USD per withdrawal:

    "so, 189.23 + (up to) 3.5% currency conversion fee - which is approximately 6$+ 3.15 Payoneer ATM fee. Please also note that there is the ATM fee, that I am not sure how much, it depends on the ATM, however even without it it concludes in 199$. Makes more sense now?"

    Not sure why she saw 189 instead of 185. Though.

    In overall I get a 13+ USD fee per withdrawal.
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