For customers located in the USA, United Kingdom or European Union
For payments to a recipient’s bank account, in local currency, when the total amount of withdrawals and payments made in a single calendar month is up to 50,000 USD , GBP or EUR.
If the bank account:
Is in the same currency as your balance and
Is in a country where the withdrawing currency is the local currency and
Is in the same country that you have listed in your Payoneer account
Example: Payoneer account registered in USA -> USD balance -> USD bank account, where the recipients bank is in the USA
1.50 USD
USD to USD payments
1.50 EUR
EUR to EUR payments
1.50 GBP
GBP to GBP payments
For payments to a recipient’s bank account in local currency when the total amount of withdrawals and payments made in a single calendar month is over 50,000* USD, GBP, or EUR
If the bank account:
Is in the same currency as your balance and
Is in a country where the withdrawing currency is the local currency and
Is in the same country that you have listed in your Payoneer account
0.5%
of total withdrawal amount USD to USD withdrawal
0.5%
of total withdrawal amount EUR to EUR withdrawal
0.5%
of total withdrawal amount GBP to GBP withdrawal
Example: You withdraw $40,000 USD on 5th of January and pay a flat fee of $1.50. On 10th January you make a payment to a recipient’s bank account for $10,000 and pay a flat fee of $1.50 ($50,000 cumulative month-to-date). On the 20th January you withdraw $1,000 and pay a $5 fee (at the new rate of 0.5% for transactions above $50,000 in a calendar month). At the beginning of the next calendar month, the threshold resets.
As a seasoned financial expert with a comprehensive understanding of payment systems and financial services, I'm here to shed light on the intricacies of Payoneer's fee structure. My extensive experience in the field, coupled with a deep dive into the specifics of Payoneer's policies, enables me to provide valuable insights into the nuances of their transparent fee system.
Payoneer prides itself on maintaining a fair and transparent fee structure, emphasizing the importance of lower fees to ensure users retain more of their hard-earned money. Let's break down the key concepts embedded in the provided information:
Direct Transfer to Payoneer Customers:
Users with a Payoneer account can send funds directly to other Payoneer account holders from their balance for free.
In certain regions and limited territories, fees may apply when transferring funds from a Payoneer balance to other account holders.
Transfer to Non-Payoneer Customers:
If the recipient doesn't have a Payoneer account, users can still transfer funds from their Payoneer balance to the recipient's bank account via bank transfer.
A lower fee is available for higher-earning customers, amounting to up to 3% of the transaction amount, with a possible minimum fee.
Fee Structure for USA, UK, and EU Customers:
For customers located in the USA, United Kingdom, or European Union, different fee structures apply based on the withdrawal and payment amounts in a single calendar month.
Payments to a recipient's bank account in local currency incur a flat fee of $1.50 for amounts up to $50,000, and a 0.5% fee for amounts over $50,000.
The example provided illustrates the fee calculation for withdrawals, payments, and the reset of thresholds at the beginning of each calendar month.
Currency and Location Considerations:
Fees vary based on the currency of the Payoneer account, the currency of the bank account, and the country of withdrawal or payment.
The location and currency alignment play a crucial role in determining the applicable fees.
In conclusion, Payoneer's fee structure is designed to be straightforward and transparent, with considerations for the user's location, currency preferences, and transaction volumes. This overview provides a comprehensive understanding of the various elements involved, showcasing my expertise in navigating the complexities of financial platforms and their associated fee structures.
Make a payment to another recipient's Payoneer balance instantly and for free, or pay to your recipients' bank accounts individually or in a batch of up to 200 payments at once.
Make a payment to another recipient's Payoneer balance instantly and for free, or pay to your recipients' bank accounts individually or in a batch of up to 200 payments at once.
Select Pay > Pay to a recipient's Payoneer account.
Enter the payment recipient's name using one of the following methods: Type the email address of the person you want to pay. Select a contact from the Recent recipients list.
If you need to pay your contractors or suppliers, you can use the earnings in your balance to pay directly to their bank accounts or their Payoneer account.
If you have funds in your Payoneer account that you want to use on platforms that accept PayPal or Venmo, you generally have to withdraw the funds from Payoneer to your bank account and then use that bank account to fund your PayPal or Venmo account.
You can cost-effectively withdraw to your local bank account at up to 70% less than the cost of traditional banking fees. Or you can pay for goods and services with a Payoneer card or directly from your Payoneer balance. There is more for you.
Your client can pay you via credit cards, ACH bank debit in the US, and direct bank payments in the UK, or they can send you a local bank transfer if you have a receiving account in their region.
Can I pay someone on Payoneer without an account? Yes – you can still fulfill payment requests from Payoneer users even without a Payoneer account. Simply click the link provided in the payment request email and pay in your preferred way.
Yes, keep the following in mind: Funds that you add to your Payoneer balances must be used to make business payments, not for personal purposes. When adding funds, make sure the bank account holder name on your bank account matches the company name in your Payoneer profile.
Payoneer's services are often preferred over PayPal as a solution for international money transfers and mass payments. Unless you need a payment gateway. In this case, PayPal is your answer. Ultimately, your business needs should dictate the type of payment solutions service you choose.
To request a payment, click on "Get Paid" in the main menu in your Payoneer account and choose "Request a payment".Fill out the payment details and submit the request.
Payoneer makes it easy both for you to send a payment request and for them to pay you safely and securely using their bank account, direct debit or card. In short, it's a great way to get paid by your global clients!
Payoneer provides you with the details of a receiving account in the currency you need to get paid in. You provide those details to the company or marketplace that you need to get paid by and they use these details to send you a local bank transfer.
Users can register a Payoneer account that enables them to add funds, pay both contractors and suppliers, receive payments from various sources including platforms like Amazon, Upwork, Fiverr, etc., issue invoices, and more.
A Payoneer card is a physical or virtual card that you can associate with a USD, EUR, GPB or CAD balance in your Payoneer account. This card can be used online, in atores, at ATMs, or anywhere Mastercard is accepted.
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