Understanding Payoneer Fees

martinjmartinj Member Posts: 2
Hello,

I'm new to payoneer and I'm trying to understand how the monthly maintenance fee works.

Say I transfer $120 to my account (first time). I'll be charged $10 as activation fee, and $3 as a monthly maintentance fee.

That means I'd only have $107.

The next month if I don't take out the money and I don't make any deposits. Will I still be charged $3 ?

And my second question is. If I use an ATM outside the U.S. which is capable to give me u.s. dollars, will I still be charged an exchange rate? (I read this on a blog)

Comments

  • DavidDavid Member Posts: 3,289 ✭✭✭
    martinj wrote:

    Hello,

    I'm new to payoneer and I'm trying to understand how the monthly maintenance fee works.

    Say I transfer $120 to my account (first time). I'll be charged $10 as activation fee, and $3 as a monthly maintentance fee.

    That means I'd only have $107.

    The next month if I don't take out the money and I don't make any deposits. Will I still be charged $3 ?

    And my second question is. If I use an ATM outside the U.S. which is capable to give me u.s. dollars, will I still be charged an exchange rate? (I read this on a blog)


    Hey,

    Welcome and thank you for visiting our forums.

    So you know, you can view an explanation of pricing and fees in your "My Account" under "General Information" and selecting the "Pricing and Fees" option.

    The monthly maintenance fee is charged as long as there is money in the account.

    In regards to your second question, if you withdraw the money in U.S. dollars there would not be an exchange rate. However, if you withdraw in a foreign currency, MasterCard imposes a fee of up to 3% for the currency conversion. If you visit the MasterCard website you can see what their current currency conversion rate is for your country to the U.S. dollar.

    Sign up for Payoneer and the US Payment Service

  • martinjmartinj Member Posts: 2
    Thank you David.

    It's not a good idea to use the payoneer account as a savings account then. there's pretty much no way to avoid the maintenance fee then.
  • DavidDavid Member Posts: 3,289 ✭✭✭
    martinj wrote:

    Thank you David.

    It's not a good idea to use the payoneer account as a savings account then. there's pretty much no way to avoid the maintenance fee then.


    The Payoneer Card is a prepaid card with usage fees. It is up to you to decide how you want to distribute the funds once they enter your account :).

    Sign up for Payoneer and the US Payment Service

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