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The Ultimate Guide to Payoneer Fees and Charges

Payoneer is a popular online payment platform that allows businesses, freelancers, and entrepreneurs to receive and send payments globally. However, understanding Payoneer’s fee structure is crucial to avoid unexpected charges. In this guide, we break down Payoneer’s fees and charges to help you manage your transactions efficiently.

Payoneer fees and charges breakdown - a detailed guide on transaction costs, withdrawal fees, and ways to save money using Payonee.r


Payoneer Account Fees

•Account Registration Fee: Free


•Annual Account Maintenance Fee: Usually free, but a $29.95 annual fee may apply if the account remains inactive for 12 months.


Receiving Payments Fees

Payoneer allows you to receive payments from different sources, and the fees vary depending on the payment method.

•Receiving Payments from Payoneer to Payoneer: Free


•Receiving Payments via Global Payment Service (ACH, SEPA, SWIFT, etc.):


•ACH (USD) Transfer: 1%


•SEPA (EUR) and BACS (GBP): Free


•SWIFT (Other currencies): Variable fees depending on the bank


•Receiving Payments from Marketplaces (Fiverr, Upwork, Amazon, etc.): Fees vary depending on the platform’s agreement with Payoneer.


Sending Payments Fees

Payoneer payment sending and receiving fees. #payoneer #banktransfer #onlinetransaction

•Payoneer to Payoneer Transfers: Free


•Payoneer to a Recipient’s Bank Account:


•USD: Up to 2% above the market rate


•EUR & GBP: 1.5%


•Other Currencies: Up to 2%


•Payoneer to Debit/Credit Card: Varies depending on the card issuer.


Withdrawal Fees

Withdrawing funds from Payoneer to your local bank or ATM has associated fees:


Bank Transfer Withdrawals:

•USD to Local Bank: 1.5%


•EUR & GBP to Local Bank: Free


•Other currencies: Up to 2%


ATM Withdrawal Fees:

•Domestic ATM Withdrawal: $3.15 per transaction


•International ATM Withdrawal: May include additional fees charged by the bank


•Balance Inquiry: $1 per inquiry.


Currency Conversion Fees

Payoneer applies a conversion fee when transferring money between different currencies:

•Currency Exchange Rate Markup: Up to 3.5% above the market rate


Card Fees (Payoneer Prepaid Card)

For users with a Payoneer Prepaid Card, additional fees apply:

•Card Issuance Fee: $29.95 per year


•Card Replacement Fee: Varies by country


•POS Transactions: Free


Other Additional Fees

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•Chargeback Fee: $20 per dispute


•Rejected Transactions Due to Insufficient Funds: $1 per failed transaction


•Dormancy Fee: $29.95 after 12 months of inactivity.


How to Minimize Payoneer Fees

To reduce your Payoneer fees, follow these tips:

1.Use Payoneer-to-Payoneer Transfers whenever possible.


2.Choose Bank Transfers Over ATM Withdrawals to save on withdrawal fees.


3.Withdraw Larger Amounts Less Frequently to minimize transaction costs.


4.Use Local Currency when withdrawing to avoid currency conversion fees.


5.Stay Active to avoid dormancy fees.

Payoneer minimum of fee's. #payoneer #bank #freelance #onlinepaymente


Conclusion

Understanding Payoneer’s fees and charges can help you optimize your transactions and save money. Whether you’re a freelancer, business owner, or e-commerce seller, being aware of the costs involved ensures you maximize your earnings. Always review Payoneer’s latest fee updates on their official website for accurate and up-to-date information.


FAQs

1. Does Payoneer charge a fee for receiving payments?

It depends on the payment method. Payoneer-to-Payoneer payments are free, while receiving payments via ACH has a 1% fee.


2. How much does Payoneer charge for ATM withdrawals?

The standard ATM withdrawal fee is $3.15 per transaction.


3. Are there ways to reduce Payoneer fees?

Yes, using Payoneer-to-Payoneer transfers and minimizing currency conversions can help lower costs.


4. What is the annual maintenance fee for Payoneer?

Payoneer does not charge an annual maintenance fee unless the account is inactive for 12 months, in which case a $29.95 fee applies.


5. Does Payoneer have hidden fees?

Payoneer is transparent about its fees, but additional charges may apply based on currency conversions, ATM transactions, and chargebacks.


Disclaimer

This information is accurate at the time of writing and may change. Always check Payoneer’s official website for the most up-to-date fees and charges.


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