Exchange Rate

RobmegRobmeg Posts: 4Member
Please do help me I a, ripped off by Payoneer! I am transferring my Euro to my Philippine Peso account. When I submitted it, that was 1 Euro equal to 57.3 Philippine Peso which is lower than the current exchange rate but that was ok now I received a message that says 1 Euro equal to 0.3932! What the hell is this! WHERE ARE YOU GETTING THIS FROM!

Answers

  • KazPayoneerKazPayoneer Posts: 934Confirm Email, Member, Administrator ✭✭✭✭✭✭✭

    Hi there,

    Sorry to hear about this. Typically what happens is that the fee 2% is applied on top of the exchange rate, which is the rate at the time of transfer. The fee is applied on top of that mid-market rate.

    Thanks!

  • Aleksandra_PayoneerAleksandra_Payoneer Posts: 208Administrator ✭✭✭✭✭✭✭

    Hello @Robmeg

    I would like to apologize for this inconvenience. There is a display issue at the moment which is causing the wrong conversion rate to be shown in the withdrawal notification email and transfer confirmation. However, please rest assured that the the right amount was transferred according to the mid-market conversion rate.

    I am sorry once again for the confusion this caused, we're working on solving it as soon as possible.

    Will be happy to answer general questions about Payoneer service.

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

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