I was talking to one of my friends on facebook and while discussing I asked him why don’t he apply for payoneer and his answer was because they charge 35$ a month…! :O NO! they don’t! so I thought about telling you all something about payoneer and tips about its usage.
For those who don’t know what payoneer is, its a master card issued to you on your name and current address which you can use for all prepaid credit card purposes (which includes getting paid online by various sites – freelancer, infolinks, odesk, fiverr etc) and to pay or use it where you need credit card for payments or verification purposes.
Payoneer card Registration fee:
Payoneer cards first time fee is 15-35$ (depending upon your country of residence).
For Pakistan its 35$ but you don’t have to pay it yourself.
If you’re getting paid from someone, like infolinks, when you get your card first time, they will deduct the fee from your payment themselves
Payoneer card Monthly fee:
Monthly maintenance fees is 2$ for an account (if you apply for their virtual bank account then its almost 2$ per month more)
How to take money out from Payoneer card (or account) :
You can use payoneer card at ATM and get cash out of it. You can also pay through it on stores and restaurants where master card is accepted.
Fees per transaction is normal credit card fee which is almost 2.5% of the amount withdrawn.
Tips for using Payoneer account and card:
Payoneer deducts 1$ if you check your card balance through ATM, so don’t do that! Check your account balance online from payoneer account and convert it to approximate rupees or your local currency, and withdraw the amount from ATM.
Payoneer $ rate is different from standard market, so its good to withdraw a little bit less amount. Like if you have 100$ in your account, try to withdraw 95. Why? because with every transaction they charge 1$ too. So if you try to withdraw and fail, you lose 1 $ already. So play wisely.
Banks in Pakistan which support ATM :
Currently I am able to use Payoneer card at MCB and HSBC ATMs only.
UBL, SCB, Habib banks ATM don’t accept Payoneer.
Got queries or updates regarding payoneer specially in Pakistan? do let me know through comments!
P.S. I’m using payoneer for almost 2 years now, and it’s a great relief to have it with me! Their support is great too!