Receive payment from another Payoneer account is completely free.
There’s 1% fee when you get paid by companies and online marketplaces, using your USD account. This fee can be waived if you use EUR, GBP, JPY account to receive money.
2.00% of total amount fees will be applied if you withdraw your funds (USD, EUR, GBP) from Payoneer to local bank account. But Transfer JPY to bank account is fee free.
Payoneer allows you to withdraw funds from your account to local bank account. The currency conversion rate is 2% over the mid-market exchange rate.
Sending money from Payoneer to Payoneer account is instant. International transfers to your local bank account can take 3 to 4 days to complete.
Payoneer’s born for freelancer, online sellers, affiliate marketers to receive money and compatible with most of online marketplaces like Amazon, Upwork, airbnb and so on. It has robust customer support, which you can reach through message, live chat and telephone, it’s not 24/7 though. But if you report lost or stolen card, the line is 24/7 available. Payoneer’s community is very unique and helpful that members can interact with each other.
One feature makes Payoneer stand out is that clients can order a Prepaid MarsterCard, whereas other providers like OFX only allow you to transfer funds to bank account. However, you need to sacrifice a $29.99 annual fee to maintain the card.