I have been working with Payoneer for more than a decade . From March 1 it seems all transaction to withdraw to a european bank will suffer a 3% transaction fee + the conversion fee. This will become an expensive proposition.
I think I might be changing all my payments to paypal to avoid this fee. So far I have seen no fee to withdraw to a linked account in Paypal.

Are some of you european contributors that were working with Payoneer facing the same dilema?

Also got this email today (I'm located in Germany).

Keep in mind there is also a yearly fee of 29,95 USD to be paid for a Payoneer account, if your account received less than 2000 USD within 12 months. So this means you might want to terminate your Payoneer account, if you will switch to a different solution.

Paypal currently doesn't charge any fees for withdrawals to a local bank, but their USD -> EUR conversion rate is much worse for us than at Payoneer. But with the new 3% Payoneer fee, Paypal should indeed be better.

Does anyone know a better solution how to get the most amount of EUR out of Adobe's USD payments? I've heard something about Revolut, but can't find the details.

I will look into that. I receive most of my funds in Dollars, and then I retrieved them to my European account. So I was already charged a currency exchange fee by Payoneer. Now this will be add to the new 3% fee. A dollar account could work but if Paypal does not charge anything (apart from the currency exchange fee) to retrieve to my bank account this could be a much better option I think.

I also keep hearing about Revolut. I wonder if the main stock agencies will provide this option in the future?

i just went to their site and their fees are so much better than Paypal, Skrill or Payoneer.

Correct me if I'm wrong but you should be able to set up a USD account in your own bank and transfer to your own bank with no conversion that doesn't incur the 3% transactional fee.

As per the email it states is only on USD to EUR transfers

Hope what I'm saying is right and that it helps

I will look into that. I receive most of my funds in Dollars, and then I retrieved them to my European account. So I was already charged a currency exchange fee by Payoneer. Now this will be add to the new 3% fee. A dollar account could work but if Paypal does not charge anything (apart from the currency exchange fee) to retrieve to my bank account this could be a much better option I think.

I also keep hearing about Revolut. I wonder if the main stock agencies will provide this option in the future?

i just went to their site and their fees are so much better than Paypal, Skrill or Payoneer.

Quote from: pixdeluxe on January 02, 2024, 06:15

Correct me if I'm wrong but you should be able to set up a USD account in your own bank and transfer to your own bank with no conversion that doesn't incur the 3% transactional fee.

As per the email it states is only on USD to EUR transfers

Hope what I'm saying is right and that it helps

You can only withdraw money in local currency on Payoneer.
But if you can find some way to get $ or Euros into a bank account in a non-Euro paying European country, I'd be happy to hear it. Agencies should add more ways of payout. Many of us would probably find it more worthwhile to pay out of our own pockets for international bank transfer than PayPal and Payoneer fees.

I quit Payoneer many years ago. Be aware that I were also hit by a "border crossing" fee when I used the card to make online purchases even in US$. I asked how I could avoid the fee, the answer was "unless you shop in Belize". Anything you do outside Belize may be subject to the 'border crossing" fee.

FYI PayPal won't let you transfer your balance, even when it's in US$, to a non-American US$ account, I tried it every which way in the UK and I presume it'll be the same in the Euro region.

Do you mean that Paypal won't transfer US$ to your country's currency? If yes, then you are correct.

I transfer USD into my country's currency all the time. That being said, Paypal's conversion rate is not very good. Besides that, there is no other fees unless you wish to receive the money fast.

You're not better at PayPal either. They just raised some fees as well.  Got a letter not too long ago stating the increase in fees. Not sure if its just for us unfortunate Canadians. Over here we get taxed to death over here for everything. Probably for breathing too. ☹️

I just canceled my account. They were already worse than paypal before that change. It's about time Shutterstock and Adobe introduced some new payment processors. It's not 2010 anymore

Quote from: k_t_g on January 02, 2024, 23:48

You're not better at PayPal either. They just raised some fees as well.  Got a letter not too long ago stating the increase in fees. Not sure if its just for us unfortunate Canadians. Over here we get taxed to death over here for everything. Probably for breathing too. ☹️

Hi, I am also Canadian.

When you withdraw USD from Paypal to a Canadian bank account, other than the poor conversation rate, are there any other fees that I am not aware of?

Not sure. Sorry. All I know is that if our account is not used for so long, they charge us a fee. New fee is for use with some kind of transaction card. I'm surprised you didn't get the Policy change notice. They stated the new fee in that updated contract policy. Sorry I'm not much help.

When I get around to it I can always post some of the notice here or you can find it at PayPal I guess.

I see what you mean now. Thanks.

I saw the Paypal notices. These said fees are not the regular transaction fees when you regularly receive money from the payers or withdraw money to your Canadian bank account. If you need to receive the money fast, there is an additional charge. But when I make a request, the money will be in my bank account the next day. There is no need to pay the extra.

Quote from: Orchidpoet on January 03, 2024, 16:29

Quote from: k_t_g on January 02, 2024, 23:48

You're not better at PayPal either. They just raised some fees as well.  Got a letter not too long ago stating the increase in fees. Not sure if its just for us unfortunate Canadians. Over here we get taxed to death over here for everything. Probably for breathing too. ☹️

Hi, I am also Canadian.

When you withdraw USD from Paypal to a Canadian bank account, other than the poor conversation rate, are there any other fees that I am not aware of?

Not sure. Sorry. All I know is that if our account is not used for so long, they charge us a fee. New fee is for use with some kind of transaction card. I'm surprised you didn't get the Policy change notice. They stated the new fee in that updated contract policy. Sorry I'm not much help.

When I get around to it I can always post some of the notice here or you can find it at PayPal I guess.

I see more and more better options that Payoneer or Skrill that have have hefty fees.
I heard of Revolut and now just discovered another one WISE .
I think all contributors specially european ones that have higher fees with Payoneer should write to the stock agencies to implement cheaper options like these Revolut or Wise
Ig is outragous to pay 5% to just retrieve the money to your bank acount( 3%+ exchange fees)

The best option would be a direct bank transfer. The German agencies I submit to do this , but also international agencies like Alamy and Canva can do it, so why not the others?

Quote from: everest on January 05, 2024, 02:27

I see more and more better options that Payoneer or Skrill that have have hefty fees.
I heard of Revolut and now just discovered another one WISE .
I think all contributors specially european ones that have higher fees with Payoneer should write to the stock agencies to implement cheaper options like these Revolut or Wise
Ig is outragous to pay 5% to just retrieve the money to your bank acount( 3%+ exchange fees)

The best option would be a direct bank transfer. The German agencies I submit to do this , but also international agencies like Alamy and Canva can do it, so why not the others?

SS does it if you earn >$5000/month
I think others don't do it because there are fees. You remember that Canstockphoto put the transaction costs on contributors even for Paypal/Skrill. And bank transfer fees are much higher, I belive.

I have not received any communication from Payoneer regarding the new 3% withdrawal fee. Could anyone copy paste here the email from Payoneer ?

Hi,
Here at Payoneer, we are constantly working to provide the best products and services in the market. We are reaching out today to inform you of changes to our pricing structure that will be relevant as of March 1, 2024.
To continue providing the highest quality product possible, we occasionally need to update our prices due to changes in the market.
Please see the table below to understand which prices are changing and how this will affect you and your business:
New Pricing Structure
Withdrawing your balance to a bank account : 3% of transaction amount
Withdraw funds from a Payoneer balance to your bank account : 3% of transaction amount
Example:
USD balance > EUR bank account, bank is in EU :  : 3% of transaction amount
EUR balance > USD Bank account, bank is in Hong Kong : 3% of transaction amount
Payments to recipient�s bank accounts via bank transfer : 3% of transaction amount