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Annual account fee AND account maintenance fee new policy

nilkug
nilkug Member Posts: 2
This regards the new fees rule for the Annual Account fee. It can be accessed in the fees list of Payoneer account website. The notification is available to all account owners who receive 2,000 USD as monthly payments.

I usually pay a Maintenance fee of 29.95 USD, with no additional fees. Up till now, it has been a card maintenance fee (if I have a Payoneer Mastercard) or the Annual Account fee, either way it would have been a fee deduction of 29.95 USD.

Payoneer has sent a notification recently about a policy update, below which an Annual Account fee will be deducted if I have received 2,000 USD or less into my account as payments. That's an additional 29.95 USD fee.

Does that imply that I now have to pay a yearly fees of a total of about 60 USD? Any helpful feedback is most welcome.

Comments

  • Elena_Payoneer
    Elena_Payoneer Member, Administrator, Moderator, VIP Member Posts: 535 ✭✭✭✭✭✭✭

    Hi @nilkug ! Thank you for your question, I'm happy to help clear things for you.

    We have introduced new annual account fee of 29.95 USD as a necessary step to keep providing an excellent service to all of our customers. This fee is based on the actual costs of the services your Payoneer account comes with.

    Please keep in mind that if you receive more than 2000 USD within 12 months, this fee will be waived for you.

    As Payoneer cards are an additional service that we provide, the fee for their maintenance is charged separately.

    We hope for your understanding. If you have further questions or concerns, please don't hesitate to reach out. We're here to help in any way we can.

  • Bob2023
    Bob2023 Member Posts: 2
    Thanks Elena ... when does the new annual fee go into effect?
  • Kiara_Payoneer
    Kiara_Payoneer Administrator, Moderator, VIP Member Posts: 598 ✭✭✭✭✭✭

    Hi @Bob2023, the new annual fee criteria is already active since the 15th of April 2023. For more information you can find all Payoneer fees here.

  • blueberry
    blueberry Member Posts: 1
    In the account page (Fees), It says - Fee is only charged if you have not had at least one transaction in your Payoneer account or on your Payoneer Card over the previous twelve months.

    I recieved a message that states - Starting 30 days from the date of this message, we’ll charge this fee(30$) if you receive payments totaling under 2,000.00 USD (or equivalent) in any consecutive 12-month period.

    We are a new business and have not reached the level to receive 2,000 USD in a year. The payment we recieve are not fixed aswell it can vary from 50$ to 300$.

    Will i be charged 30$ for this??
  • Kiara_Payoneer
    Kiara_Payoneer Administrator, Moderator, VIP Member Posts: 598 ✭✭✭✭✭✭

    Hello @blueberry,

    You can check according to your country here.

    @Elena_Payoneer said:
    Hi @nilkug ! Thank you for your question, I'm happy to help clear things for you.

    We have introduced new annual account fee of 29.95 USD as a necessary step to keep providing an excellent service to all of our customers. This fee is based on the actual costs of the services your Payoneer account comes with.

    Please keep in mind that if you receive more than 2000 USD within 12 months, this fee will be waived for you.

    As Payoneer cards are an additional service that we provide, the fee for their maintenance is charged separately.

    We hope for your understanding. If you have further questions or concerns, please don't hesitate to reach out. We're here to help in any way we can.

    If you have any other questions, feel free to contact customer support.

  • Jehan_Paula
    Jehan_Paula Member Posts: 1
    As a beginner in the online selling platform, I'm going through a difficult situation to carry out my store. As I'm a beginner, my store doesn't get many orders, it's a difficult task to collect 2000$ within 12 months for me I'm sure there are others who are facing this problem. what's your idea about it? Are there any solutions?
  • kenji
    kenji Confirm Email, Member Posts: 3
    edited June 2023
    hi i am kenji. i start payoneer in japan last month.

    This regards the new fees rule for the Annual Account fee.
    i open new acount on payoneer last month.and i receive the new fees rule message.
    i should pay fees this month? or 12month later?
  • Kiara_Payoneer
    Kiara_Payoneer Administrator, Moderator, VIP Member Posts: 598 ✭✭✭✭✭✭
    edited June 2023

    Hi @kenji,

    Thank you for reaching out to us. We understand that you have concerns regarding whether you should and when to pay the annual account fee as you recently created your account.

    I'll be happy to explain it to you. The inactivity fee will be automatically deducted from your balance, in case a 12-month period has passed on your account without reaching a total of 2000USD in income.

    Therefore, if you maintain an active account and reach the $2000 threshold within the given timeframe, no fee will be deducted.

    I hope this helped and welcome to Payoneer!

  • xtao
    xtao Member Posts: 3
    Hi, I received a message saying "an Annual Account Fee will be charged if 12 months pass and you have received less than 2,000.00 USD (or equivalent) in payments", and I would like to know if the fee applies to a user who has never received any payments from anywhere in the past 12 months and doesn't have any balance as well.
  • Kiara_Payoneer
    Kiara_Payoneer Administrator, Moderator, VIP Member Posts: 598 ✭✭✭✭✭✭

    Hi @xtao,

    Thank you for your question. Basically yes, the Annual Account Fee will apply to a user who has never received any payments from anywhere in the past 12 months and doesn't have any balance as well. According to the message you received, if 12 months pass and you have received less than 2,000.00 USD (or equivalent) in payments, the fee will be charged. Since you haven't received any payments, you fall into this category, and the fee will be applicable to your account.

    I hope this answer will help you! You can also scroll up and read a bit more about this new update in our account fees.

  • MauricioMBG
    MauricioMBG Member Posts: 2
    But on the page that describe this fee, it says that if the account is active (i.e. I received any amount during the year) I do not need to pay the annual fee. So accumulating $2000 is just another way of not having to pay the fee: leaving the account inactive with more than $2000. But even if I don't accumulate this amount, if the account is active (received any amount in the 12-month period) I won't pay the fee.
    The fee is for inactive accounts (without any transactions during the year) OR that have not accumulated 2k. Correct?
  • Kiara_Payoneer
    Kiara_Payoneer Administrator, Moderator, VIP Member Posts: 598 ✭✭✭✭✭✭

    Hi @MauricioMBG,

    We understand your point, but this is not how it works. The Annual account fee was updated recently and if you check my answers above, you'll see this fee will be applied if you do not reach the 2000USD threshold. Even if you are active on your account, if the amount of your activity does not reach this threshold the fee will be automatically charged after a 12-month period.

    You can learn mora about this new fee here: paynr.co/annualfee

    Thank you for your understanding!

  • xtao
    xtao Member Posts: 3
    Hi @Kiara_Payoneer,

    Thank you for your reply.

    > Basically yes, the Annual Account Fee will apply to a user who has never received any payments from anywhere in the past 12 months and doesn't have any balance as well. According to the message you received, if 12 months pass and you have received less than 2,000.00 USD (or equivalent) in payments, the fee will be charged. Since you haven't received any payments, you fall into this category, and the fee will be applicable to your account.

    Does that mean the fee will be deducted from my Payoneer balance once I receive payments of more than 29.95 USD in the future, or will the fee be withdrawn immediately from my linked bank account? 

    Also, what will happen to the fee if I close my Payoneer account within 12 months of account opening? (FYI, I opened my Payoneer account in August 2022, so it's only been 10 months since I opened the account.)
    Will I still be charged the fee even if I close my account right now?

    Thank you for your help.
  • Kiara_Payoneer
    Kiara_Payoneer Administrator, Moderator, VIP Member Posts: 598 ✭✭✭✭✭✭

    @xtao, the fee is deducted automatically from your balance once you have enough funds.

    If you close your account, you won't be charged this fee. Only if you keep your account active.

    For more personal questions, please contact our Customer Support Center

  • hasan4411
    hasan4411 Confirm Email, Member Posts: 1
    edited June 2023
    Suppose I do 1500 USD transaction annually and I use a Payoneer master card, then how much will my annual fee be?
  • Kiara_Payoneer
    Kiara_Payoneer Administrator, Moderator, VIP Member Posts: 598 ✭✭✭✭✭✭

    Hi @hasan4411,

    We understand you have doubts about the exact amount of the annual fee. If your income only reaches 1500USD yearly, you'll be charged the regular and only annual fee which is 29.95 USD.

    If you have further questions regarding this fee, I recommend you read the previous posts on this page.

    I hope my answer helped you.

  • Definist
    Definist Member Posts: 2
    Hi @Kiara_Payoneer

    Could you please clarify these two moments:

    1. Payments with a threshold of 2000$ in 12 months mean all transactions including also personal withdrawals from available balance to a local bank account or receiving incoming payments from others only?

    2. Effective date means the day of the instant charge for the past 12 months or the next 12 months starting from this date?
  • Kiara_Payoneer
    Kiara_Payoneer Administrator, Moderator, VIP Member Posts: 598 ✭✭✭✭✭✭

    Hi @Definist,

    Regarding your first question, only incoming payments will count towards this fee.

    On the date of the charge, we look back at your transactions for the past 12 months. If you have received more than 2,000.00 USD (or equivalent) in that time, you will not be charged a fee as this will qualify you for a special waiver.

    Once the first 12 months have passed, you must receive at least 2,000.00 USD (or equivalent) through any consecutive 12-month period to qualify for the fee waiver and avoid being charged. If you are charged, you will not be charged again for 12 months.

  • Pasan
    Pasan Confirm Email, Member Posts: 1
    I created my account while back, and haven't used it ever since the signup.
    If I used it, do I have a penalty?
  • saadullah85
    saadullah85 Confirm Email, Member Posts: 1
    edited July 2023
    Someone knows so please tell me what is this. i login after along in my Payoneer, I just check this notification. Please someone explain me what is this annual fee about??
  • Cyanex
    Cyanex Confirm Email, Member Posts: 1
    edited August 2023
    Hello everyone,

    I hope you're all doing well. I had a question regarding the Payoneer fees for freelancers. I've Know that they deduct 2 percent each time I send money from Fiverr, which is quite understandable. However, I recently came across some information stating that after the 12-month period of having an account, Payoneer deducts $29 annually. I'm a bit curious about this aspect.

    Does this annual fee apply to every Payoneer account holder, or is it specific to individuals who have a debit card and other associated features? Additionally, I'm wondering whether an account that hasn't received any payments for over 12 months would still be subject to this annual fee.

    I would greatly appreciate any insights or clarification you might have on this matter. Thank you in advance for your help!