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Author Topic: Hey - Introduction from David from Payoneer  (Read 17589 times)

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JFP

« Reply #50 on: April 03, 2012, 04:03 »
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Agreed, I got the same issue and Payoneer support refused to provide any information on the 6% fees perceived. The only reply was "we checked your account and didn't see any issue" !



I am really impressed by your willingness to engage here. You are really paying attention to what people are asking in an upfront way. That is a really rare thing from a company rep.
Is there any way to make a straight forward comparison between the rates you use for currency conversion and what Paypal uses?

I can't really comment as to paypal and their services. By looking at their site I see they list their fees as anywhere between 3.5% - 4.5% depending on the country.

As I mentioned above, for Payoneer, ours are up to 3% above MasterCard's official rate.

And that's the point why I often payed 6(!!!)% over the market rate on foreign currency payments. MasterCards official (rip off rate) is about 3% above market rate and payoneer hammers another 3% on top of it. Even though your Homepage clearly stats that you guys ONLY charge a max of 3%. Noone of my other credit card companies charge over 1% and ATM withdrawal has no extra fee.
I really hope people start using Oanda.com to compare the market rate with the rate they got.

And please don't come telling me about having to add 3% because of risk. I worked as a currency trader for years and I know that all credit card companies use a real time conversion rate and the 3% is straight profit. There are many banks like the DKB (in Europe) who charge 0% on top of the market rate.

I you guys at payoneer want to keep your customers you better start using fair rates. It was 2.2% last year btw and you guys increased it without any notice!

Here a screenshot of a withdrawal in Bangkok. The market rate at that day was $648.80 - payoneer charged me $686.10 !!! I think that speaks for itself.


« Reply #51 on: April 03, 2012, 04:13 »
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@4FR and @JFP

Please email me at
davidst@payoneer.com with the email associated with your Payoneer account and I will be happy to look into the transaction for you.


« Reply #53 on: April 03, 2012, 05:28 »
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Payoneer cancelled my card and account without notifying me because I had not used it often enough and despite the fact that it had not reached its expiry date. I only found out when I tried to log in at their site. They wanted $9.99 to issue a replacement card  - for the privilege of using their already expensive service. Talk about squeezing the customer at both ends.

My credit and debit cards do not expire if I do not use them often enough. Sometimes we sign up for services on the basis that we may need to start using them more often at some point in the future.

Hey,

We did not cancel the account, we disabled the account due to an extended period of inactivity.

Hey,

When I came to want to use it it didn't work even though it had not expired - and you wanted me to pay to get it re-activated. IIRC I ended up receiving boiler-plate (possibly even automated) email responses.

If you still have your old card you can reactivate the account without paying the charge. Additionally, if your card expired we will issue a new card at no cost.

Hey,

I appreciate you engaging via this forum and would consider using the service again. Unfortunately I think that my account no longer exists.

Out of interest - do accounts still get cancelled for lack of activity even whilst the cards are inside of the expiry date ?


rubyroo

« Reply #55 on: April 03, 2012, 05:50 »
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Looking at that last post, you should change it's name to 'Hey-oneer'.  ;D

« Reply #56 on: April 03, 2012, 05:56 »
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Looking at that last post, you should change it's name to 'Hey-oneer'.  ;D

Hahaha! That's a good one, I will pass on the suggestions    :D

« Reply #57 on: April 03, 2012, 07:18 »
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Looking at that last post, you should change it's name to 'Hey-oneer'.  ;D

LOL!  :D

« Reply #58 on: April 03, 2012, 07:21 »
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Hi David,
Thanks for being part of this forum and for helping to sort out various issues. I use my Payoneer card mostly for online purchases and it serves me well. The only problem was with my renewal card that was sent to me when my last one was close to expiration. It got lost in the mail and I had to wait for a new one, so I was without a card for a while. I suggest sending cards by registered mail, yes, it costs more, but it is still cheaper than sending it twice. Thanks!

« Reply #59 on: April 03, 2012, 07:41 »
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Hi David,
Thanks for being part of this forum and for helping to sort out various issues. I use my Payoneer card mostly for online purchases and it serves me well. The only problem was with my renewal card that was sent to me when my last one was close to expiration. It got lost in the mail and I had to wait for a new one, so I was without a card for a while. I suggest sending cards by registered mail, yes, it costs more, but it is still cheaper than sending it twice. Thanks!

Hey,

I am sorry to hear your card got lost in the local postal system. I will pass on the suggestion for standard mail.

We do provide the option to get the card via DHL, while we do not charge for the service we do require you cover the shipping cost.

Thanks for the feedback.

« Reply #60 on: April 03, 2012, 08:27 »
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Just to clarify, the 3% is not above any additional fee from MasterCard. It is possible the ATM is charging a high fee or the bank operating the ATM is imposing rates of their own.

As I mentioned above if you can provide me with your Payoneer account email, I would be more than happy to look into the transaction.

David: I sent you some screenshot of transactions that have all been far above 3% - I always make sure I pay in the foreign currency so the conversion rate is set by Mastercard / Payoneer!

My other credit cards even give interest on the credit side of 2% and charge me 0% on currency conversion. You guys would make much more money if you don't charge 3% and more on currency conversion, because many more people would use your card and payoneer can "work" with the money "parked" on the cards, which earns payoneer much more than trying to make money with those hidden currency conversion fees.

I worked for a bank for years and you guys will loose many customers if you stick to those rates! My word on it!

« Reply #61 on: April 03, 2012, 08:35 »
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4FR: I must agree, even though such services are much easier to use then checks I still use checks because then at least I know exactly how much I pay.
I see no reason to stop using checks even with all the hassle involved.


« Reply #63 on: April 03, 2012, 09:26 »
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@4FR - I have not received an email with screen shots, please check the address, my email is davidst@payoneer.com.

Send it 80min ago to davidst@payoneer.com - check your SPAM since I attached screenshots

Else you can find my account by the transaction ID from my screenshot I posted on page2. All transactions in the last few months, especially the ones above $500 have been above 3% currency conversion rate.

Just sent the mail again!
« Last Edit: April 03, 2012, 09:31 by 4FR »

« Reply #64 on: April 03, 2012, 09:52 »
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@4FR - I have not received an email with screen shots, please check the address, my email is davidst@payoneer.com.

Send it 80min ago to davidst@payoneer.com - check your SPAM since I attached screenshots

Else you can find my account by the transaction ID from my screenshot I posted on page2. All transactions in the last few months, especially the ones above $500 have been above 3% currency conversion rate.

Just sent the mail again!

Thanks, got it, the first must have gotten caught up in my spam filter. I added you to my whitelist.

As I mentioned, Payoneer does not charge more than the listed percentage for currency conversion, I am going to check the exact transaction details with our card processor and get back to you.


« Reply #66 on: April 03, 2012, 14:04 »
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Hey, a card is inactive it will not work but it does not mean it has been expired. Additionally, it is a prepaid debit card so if there are no funds on the card it will not work either. We do not charge a fee for reactivating the card.

Well obviously a card with no funds on the account is not going to work. Did that even need stating ?

But the fact is that my account was dis-activated / cancelled ( call it what you like - it amounts to the same thing ) despite the card not having expired. The upshot of this was that I could not log into my account.

And whatever you say now, at the time your people wanted $9.99 to get it up and running again. Sadly I no longer have the old emails or else I would forward them to you. Lets assume that things have changed now.

Hey - but I'm not that bothered - I only ever received one payment to the card. I got the thing to use in case there was ever a problem with the account which I normally use.

:)


velocicarpo

« Reply #67 on: April 03, 2012, 16:42 »
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Hey, a card is inactive it will not work but it does not mean it has been expired. Additionally, it is a prepaid debit card so if there are no funds on the card it will not work either. We do not charge a fee for reactivating the card.

Well obviously a card with no funds on the account is not going to work. Did that even need stating ?

But the fact is that my account was dis-activated / cancelled ( call it what you like - it amounts to the same thing ) despite the card not having expired. The upshot of this was that I could not log into my account.

And whatever you say now, at the time your people wanted $9.99 to get it up and running again. Sadly I no longer have the old emails or else I would forward them to you. Lets assume that things have changed now.

Hey - but I'm not that bothered - I only ever received one payment to the card. I got the thing to use in case there was ever a problem with the account which I normally use.

:)

Such a thing never happened to me...maybe I`m spending too much money  ???  ;D

« Reply #68 on: April 03, 2012, 21:03 »
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Hello 4FR

I looked into the matter for you:

The transaction was converted using MasterCard's official rates, and a conversion charge no greater than that mentioned above,. A customer support supervisor contacted you with more detailed information regarding the transaction.
 
Additionally, we use MasterCards official rates, which can be estimated at: https://www.mastercard.com/global/currencyconversion/index.html.

I hope this helps resolve the confusion and am happy to help if there are further questions.

Thanks David, Dan contacted.

Exactly what I expected the Mastercard rate for my 20000 THB withdrawal is almost 3% (!!!) higher than the market rate for that date and you guys added another 2,3% + ATM charge + Foreign Currency Charge to it which leads to an effective 6% and higher !!!

For us costumers the FINAL % is of matter and as long as you guys work with a mastercard conversion rate which is FAR off any acceptable value, we feel ripped-off by your currency conversions!

No way Payoneer can be competitive with those rates once customers are aware of this "hidden" cost.

« Reply #69 on: April 03, 2012, 21:58 »
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Hello 4FR

I looked into the matter for you:

The transaction was converted using MasterCard's official rates, and a conversion charge no greater than that mentioned above,. A customer support supervisor contacted you with more detailed information regarding the transaction.
 
Additionally, we use MasterCards official rates, which can be estimated at: https://www.mastercard.com/global/currencyconversion/index.html.

I hope this helps resolve the confusion and am happy to help if there are further questions.

Thanks David, Dan contacted.

Exactly what I expected the Mastercard rate for my 20000 THB withdrawal is almost 3% (!!!) higher than the market rate for that date and you guys added another 2,3% + ATM charge + Foreign Currency Charge to it which leads to an effective 6% and higher !!!

For us costumers the FINAL % is of matter and as long as you guys work with a mastercard conversion rate which is FAR off any acceptable value, we feel ripped-off by your currency conversions!

No way Payoneer can be competitive with those rates once customers are aware of this "hidden" cost.

Yes, its quite horrible to be honest - especially how hidden this information is. Sorry Payoneer, but you are only a solution for US microstock contributors or people that have not done their research - unfortunately you hide this information so well that im sure most people will never know they are paying 5-6% over the market exchange rate. Paying 5-6 dollars for every 100 dollars spend is just mind-blowingly insane.

Please tell that we are getting all this wrong...

If not there is only one conclusion:

1) Payoneer is NOT a solution if you plan to use your card outside the US

« Reply #70 on: April 04, 2012, 00:52 »
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Hey, a card is inactive it will not work but it does not mean it has been expired. Additionally, it is a prepaid debit card so if there are no funds on the card it will not work either. We do not charge a fee for reactivating the card.

Well obviously a card with no funds on the account is not going to work. Did that even need stating ?

But the fact is that my account was dis-activated / cancelled ( call it what you like - it amounts to the same thing ) despite the card not having expired. The upshot of this was that I could not log into my account.

And whatever you say now, at the time your people wanted $9.99 to get it up and running again. Sadly I no longer have the old emails or else I would forward them to you. Lets assume that things have changed now.

Hey - but I'm not that bothered - I only ever received one payment to the card. I got the thing to use in case there was ever a problem with the account which I normally use.

:)

I mentioned the first part become sometimes people confuse the card with a credit card. Additionally, if you still have your old card you can reactivate the account without paying the charge.

If you would like if you email (at davidst@payoneer.com) or DM me the email address associated with your Payoneer account, I can look into the matter for you to see exactly what was going on.

I look forward to hearing from you.

« Reply #71 on: April 04, 2012, 03:37 »
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Please tell that we are getting all this wrong...


Payoneer does not have any hidden fees. Our entire list of pricing and fees is fully explained and available at any time. If you have any specific questions I am happy to answer them.

Let me be clear, you are not being charged 6% for currency conversion. The issue here seems to be with MasterCard's official rates which are used by millions of people in over 210 countries worldwide.

MasterCard's rates are used for all debit/credit MasterCard cards worldwide. When compared to other leading international on-line payment solutions, you will see that these rates are highly competitive and are considered to be among the best rates available on the market.



 


   

« Reply #72 on: April 04, 2012, 04:12 »
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Please tell that we are getting all this wrong...


Payoneer does not have any hidden fees. Our entire list of pricing and fees is fully explained and available at any time. If you have any specific questions I am happy to answer them.

Let me be clear, you are not being charged 6% for currency conversion. The issue here seems to be with MasterCard's official rates which are used by millions of people in over 210 countries worldwide.

MasterCard's rates are used for all debit/credit MasterCard cards worldwide. When compared to other leading international on-line payment solutions, you will see that these rates are highly competitive and are considered to be among the best rates available on the market.


Don't take this personal David, but thats WRONG

I have several payments (non ATM withdrawals) that I payed in the foreign currency and you guys charged me far over 3%, in few cases even up to 6%

I also have a straight comparison between two ATM withdrawals from the same ATM within 5minutes. One with my VISA and one with the Payoneer Mastercard. You guys charged me 6,2% more.

I have worked for the bank long enough David to know exactly how currency conversion works. The effective % you guys charged our cards is a fact. We as customers don't care if its Mastercard, Payoneer or whoever.


« Reply #74 on: April 04, 2012, 05:14 »
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@4FR

I understand what you are saying but as I mentioned you are not referring to a charge by Payoneer but rather the conversion rates used by MasterCard. You would experience the rates with any MasterCard, which is a leading provider of debit/credit cards around the world. 
 
You mentioned VISA if you go to http://corporate.visa.com/pd/consumer_services/consumer_ex_rates.jsp and estimate the rates they use, you will see they are similar to the rates of MasterCard (if not the same).

I do apologize that you are not satisfied and I will pass on your feedback.


I have other Mastercard CCs also, but they don't add another 3% on top of the Mastercard rate like you guys do!

Talking about competetive. I don't know one single CC that charges MORE than you do.

You guys better come up with a solution FAST


 

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