Thank you for visiting our Community Forum. For anything community-related please visit our SMB Network ( or Resource Hub ( For support inquiries please visit

Could someone explain me how does payoneer charges? Is there any hidden charges?

sarojstha Member Posts: 9
I am from Nepal so in Nepal, you can withdraw a maximum of NRs: 20,000 and the bank fee is 395 (for Nepal SBI) which means the total amount that needs to be exchanged is Nrs: 20,395.

Basically, Payoneer has mentioned that they use the conversion rate by aggregating or one from or Reuters. As per xe its 20395 Nrs = 178.424 USD. I could not find the exchange rate for NRs in Reuters so, I am considering the exchange rate of 1 USD = 114.313 NRs.

Also, the atm transaction fee = 0-3.5% (as per Payoneer). I don't know how much they charge so here I am happy to consider the charge amount is 3.5%.

Payoneer charge = 3.5% of 178.424USD = 6.24253 USD.

That means the total deducted amount should have been 178.424+6.24253 = 184.60053 USD.

But, the actual deducted amount was 188.93 USD per transaction. Could anyone from Payoneer convince me if there is not any ghost charge at all? Or I am missing some fees.

Basically, I am a freelancer and I am withdrawing money via Payoneer. So, if there are any hidden charges at all or there is any confusion about the exchange rate within you guys. I am happy to directly load money into the bank from freelancing platform.

It's not just about 4USD, as I have already mentioned our government won't allow withdrawing money more than 20,000 Nrs per transaction and I need to withdraw a minimum of 5 times i.e 5*4 = 20 USD per day. And this seems quite illogical business for me as it seems swift charge is way cheaper than these hidden charges.

Could anyone help me doing the math here?


  • GianmarcoPayoneer
    GianmarcoPayoneer Confirm Email, Administrator Posts: 2,241 ✭✭✭✭✭✭✭

    @sarojstha Hello,

    When using your card at the ATM, there are various fees that may occur:

    A fee charged by the ATM. Please be advised that Payoneer has no control over the fee imposed by the ATM.
    A currency conversion fee if the transaction is in a currency other than that of your card or a cross-border fee is the transaction occurs in a country outside of the issuing country of your card.*
    Payoneer's ATM withdrawal fee (listed in your pricing and fees).*
    Please note: Cashbacks are treated as ATM withdrawals and are subject to the same fees.

    *To view all applicable account fees, simply sign in to your Payoneer Account and click on the "Pricing & Fees" tab located under the "Help" menu.

    Thank you.

This discussion has been closed.