Bank Transfer Fees if I Receive Payment Via Payoneer US Bank Account (ACH)

Nikhil
Nikhil Member Posts: 8
edited June 2019 in Payoneer in India
I want to know what is the bank transfer fee if i receive payment from Payoneer US bank account via ACH and then that payment get transfered to my indian bank acoount.

My last payment of $1.63 which I received from Upwork via Payoneer Us bank Account (ACH) got processed and I see no charge and full amount of 1.63 is being transferred to my indian bank account.

Kindly sad some light on this if there is a charge or not so I can proceed better with future payments.

Regards,
Nikhil

Comments

  • KazPayoneer
    KazPayoneer Confirm Email, Member, Administrator Posts: 1,562 ✭✭✭✭✭✭✭

    Hi there,

    The fee is typically 1% if you receive funds via ACH through our Global Payment Service, then to transfer it to your bank account the fee is 2%.

    Thanks!

  • Nikhil
    Nikhil Member Posts: 8
    edited June 2020
    > @KazPayoneer

    I received $1.63 in my local bank account and there is no fees charged. I have received full amount. Please can you confirm if there is 2% fees or not ?

    2% fees is counted in currency conversion rate ?

    Let's assume I receive $100 via Payoneer US bank Account (ACH).

    now market rate on master card website is 1 USD = 69.5500 INR

    So how much money in INR will I receive after deducting all fees ?
  • KazPayoneer
    KazPayoneer Confirm Email, Member, Administrator Posts: 1,562 ✭✭✭✭✭✭✭
    edited June 2020

    Hi,

    Payoneer will take 2% on top of the market rate. So you would get the equivalent of around 97-98 USD.

  • Nikhil
    Nikhil Member Posts: 8
    edited June 2020
    > @KazPayoneer said:

    Ok, so fee are in form of 2% of market rate, right ?
  • KazPayoneer
    KazPayoneer Confirm Email, Member, Administrator Posts: 1,562 ✭✭✭✭✭✭✭

    Hi,

    This is correct.

  • mrhripon
    mrhripon Member Posts: 2
    why it is taking extra $40 when I withdraw payoneer to bangladesh bank? and another questions is what is the middle via payoneer to bangladesh dbbl bank
  • Hannah_Payoneer
    Hannah_Payoneer Confirm Email, Administrator, Moderator, VIP Member, Community Mod Posts: 446 ✭✭✭✭✭✭✭

    HI @mrhripon

    I believe that you have selected USD as your transfer currency. When sending a USD transfer, other banks involved in the transfer sometimes charge correspondent fees. In addition, the beneficiary bank may also charge landing fees. You can check our FAQs here
    Payoneer does not have control over the additional fees (correspondent and landing) that are deducted by other banks.
    Please note that payment routes also sometimes change, affecting the correspondent fees charged.
    We are always looking to improve our payment routes so that we can provide you with the best service at the lowest fee.

    Did you know that Payoneer offers local currency transfers to Bangladesh in
    BDT?
    If you would like to receive your funds in BDT or require further information, please contact us directly.