Microstock Photography Forum - General > Payoneer

Great new payoneer feature - Payout goes directly in your bank account

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Pixart:
Morphart, that's a transaction fee.  Paypal charges currencey exchange fees as well.

Edit to add
I was at the bank this morning and when I glanced at the big screen their current cost to exchange US to CDN was .99__ something.  Paypal is giving .95 this morning, so that is over 4% above what the bank charges you - I'm not sure what the other 4 decimal points were, so it could be close to 5%.

And unless you have an American based bank account, Paypal won't deposit in U.S. funds.  Not even into my U.S. $ bank account in Canada.  This is where they make their money, unless you turn around and buy something in U.S. $ from a merchant.

Pixart:
Sorry - read it wrong - you knew that.   ;)  Payoneer's page says in small print * Currency conversion applies to local currency transfers - but can't find where they hide what today's exchange rate is.

sweetgirll:
I like this feature, I also prefer to get money in my bank account!

Morphart:

--- Quote from: Pixart on June 10, 2011, 10:31 ---Sorry - read it wrong - you knew that.   ;)  Payoneer's page says in small print * Currency conversion applies to local currency transfers - but can't find where they hide what today's exchange rate is.

--- End quote ---

Yeah with conversion fee you are "screwed" any ways. The currency that are shown is never the currency you get. Will it be payonneer, paypal or you bank that those the conversion, each keeps a few cents for themselves. The only disadvantage payoneer has that I see over paypal is direct transfer to you bank account, where paypal you wait a few days before having it in you bank account, but paypal transaction fees are way less. Also I like the advantage of paypal and it's "Virtual banking account", it's like an invisible swiss bank ;p

If you don't want to get screwed by currency exchange you need to creat a US bank account and withdraw US money (or currency you get paid into).

luissantos84:

--- Quote from: Pixart on June 10, 2011, 10:14 ---Morphart, that's a transaction fee.  Paypal charges currencey exchange fees as well.

--- End quote ---

no they donīt.. I never had a transaction fee.. the thing we get is the low conversion.. like $ to EUR 0.71$ on the market, on paypal 0.69$ (example)

payoneer donīt?

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