Thursday, January 23, 2014

Payoneer Fees

Using the Payoneer Debit Mastercard is subject to charges to your account. Some of the charges you incur are:

Card activation which is $3.95. If you are outside U.S listed countries namely; Albania, Angola, Belarus, Bosnia Herzegovina, Cote D’Ivoire, Congo, Ecuador, Ethiopia, Iraq, Kosovo, Lebanon, Liberia, Macedonia, Montenegro, Pakistan, Sao Tome and Principe, Serbia, Somalia, Turmekistan, Zimbabwe you are charged $24.95
Monthly card account maintenance fee. This is $4 but if you transact with your card at least four times in a month you pay $2. Note that when your account balance drops to zero you are not charged if you don’t use the card. Don’t use it at the ATM or sign up for trial offers to avoid being charged or having Companies charge you for the trial offer if you forget to unsubscribe. Usually you get a few days or months of free usage and then your card starts being charged automatically. This usually happens when you get a deposit to your account. You notice a large chunk of your money is not there. You didn’t unsubscribe from the trial offer! Sign up for trial offers at your own risk.
If you want to replace your card you will be charged $12.95. Card replacement happens when you lose your card or the card expires. For account security always notify Payoneer immediately when your card gets lost. You can do that by logging in to your account.

Withdrawing Money from the ATM
I live in Kenya so my experience is with local banks and ATMs. As a rule I always withdraw my cash from PESA POINT ATMs simply because they don’t swallow cards. I am not sure about the process of recovering retained cards but I am sure it takes time. It’s Kenya alright! They charge $1 for cash withdrawal plus Payoneer charges $3.15. The total is deducted from your account.
Other charges incurred when you use your card at the ATM are $1 for ATM withdrawal decline. Balance enquiry incurs a similar amount. Bank wire to Kenya is $50. Guys at the United States of America only pay $3.

Shopping with your card
Shopping with your card is always free and is a better way of using your money than getting cash at the ATM. Swipe free at any MasterCard point of sale worldwide.
These charges are subject to change. Always check for the latest charges and fees by logging in to your Payoneer account.

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