Posted Thu Jan 3 5:17AM
think twice about using payoneer. i've had the card for a while now and won't use it anymore, the fees are really high, especially if you are using foreign exchange transactions. for example in nepal the bank rate was $1=88 rupees and the rate i got from payoneer was $1=78. google it and you will see lots of people very unhappy with the fees.
Posted Thu Jan 3 5:23AM
well, i need it to withdraw money from ATM, not for paying with the card or making any transactions. does it apply for that as well?
where can i see at what are the rates at which payoneer converst money?
Posted Thu Jan 3 6:43AM
Drawing cash from an ATM with a Payoneer card is probably the most expensive way there is of using it.
You'll find some info on fees here. Exchange rates though will vary.
Posted Thu Jan 3 8:14AM
if i understood correctly, withdrawal fee is 2.15USD?
and currency coversion rate is managed by the bank which ATM I am withdrawing money from?
is that right?
Posted Thu Jan 3 12:51PM
payoneer is great if you use it for online purchases in USD or any place that takes USD like Panama or whatever, but to use it as an ATM in any foreign country, the expenses are ridiculous and in my opinion not worth it.
Posted Thu Jan 3 1:53PM
There is a FAQ section on the Payoneer site - you don't need an account to access it.
I would think it has answers for most of your questions...
Posted Fri Jan 4 2:40AM
is there some other similar alternative to Payoneer? unfortunately for now i cannot have moneybookers or paypal credit card.
Posted Fri Jan 4 4:05AM
Not really. You're going to lose out on exchange rates whatever you do, unless you can use a US$ account.
If you can't have PayPal or MoneyBookers then Payoneer is your only real choice - but as it says in the FAQs, if you use an ATM to draw cash there are usually extra charges (in addition to their own), so it's better to use the card only for purchases, or via cashback.
Even then though, there are monthly maintenance charges on Payoneer.
Can you not use PayPal and then transfer to a bank account? Takes a little longer and they will still get you on the exchange rates but I've always found that the best way.
Posted Fri Jan 4 5:52AM
i thought this will be easier, but i guess it is not.
thanks a lot for your input.
Posted Mon Jan 7 11:26AM
Here's what Payoneer said on their site. It may help you.
Q: How do I get the most value from my funds?
A: Buy products and services with your Payoneer card instead of cash. When you withdraw cash you may be subject to fees set by the ATM* networks and by the bank you are withdrawing from. When you make purchases with the card, the merchant pays all fees (except for fees on foreign transactions). Strongly consider making use of the "cash-back" option when shopping at retailers if prompted by the clerk - this, too, is free.
(Edited on 2013-01-07 11:26:57 by IvanJekic)
Posted Tue Jan 8 7:33AM
so, is there a way oi can apply for a card before i request payout?
i cannot find the link to it at istock site