Hi all,

Payoneer launches a great new feature. Agencies working with them can now deposit your money directly in your local bank account! Finally a serious payout method! Currently the list of countries supported is still small, but growing steady. Please read here:
http://www.payoneer.com/LocalBankTransfer.aspx

FOTOLIA AND SHUTTERSTOCK PLEASE BRING PAYONEER!!!

"The price per transfer is $5.95 or $9.95 depending on the bank account country*."  We have to pay that?  

I usually transfer in the hundreds or thousands. Even if I have to pay that fee I couldn`t care less.
I prefer to have a fast and reliable transaction rather than having to deal with anything like paypal or moneybookers in the middle which just cost time and patience....beyond that, with the conversion Paypal offers it is almost guaranteed that the transfer costs me more than just 6 or 10 bucks...

Quote from: michaeldb on June 09, 2011, 13:22

"The price per transfer is $5.95 or $9.95 depending on the bank account country*."  We have to pay that?  

I usually transfer in the hundreds or thousands. Even if I have to pay that fee I couldn`t care less.
I prefer to have a fast and reliable transaction rather than having to deal with anything like paypal or moneybookers in the middle which just cost time and patience....beyond that, with the conversion Paypal offers it is almost guaranteed that the transfer costs me more than just 6 or 10 bucks...

Currency conversion will apply same thing as paypal with this. If it's not paypal doing the conversion, it's your bank unless you own an account with that currency?

In my case (Canada withdrawing US funds):

If less that 150$ withdrawal: 50 cents.
+150$ = Free
or USD bank account = Free

I prefer the Free method over the 6-10$ method. Paypal as a minimum ammount for all country for it to be free withdrawal, better check how you withdraw don't see how you can get those charges.

See: https://www.paypal.com/cgi-bin/webscr?cmd=_display-withdrawal-fees-outside

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.

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.

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).

It's different in every country.  I remember at one time the U.S. had no service fee.  In Canada they charge to transfer to bank if under $150. 

virtual banking account?  I doubt. Paypal is getting more strict than you'd think
I had problems with Paypal so I actually prefer to get a real check, or a deposit into my bank account.....

 

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.

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).

With PayPal I have had numerous occasions where they locked my account after I used PayPal when not at home and making a purchase (i.e. buying an e-book on the road), and that meant a few weeks before I could get home, make the required phone call and get my account restored.  All that time they had my money and I couldn't access it.

Wow for this I agree this must suck bad. My experience so far with Paypal is good, but if I get my account locked once for sure I won't keep any money in there.

For currency fees, I opened a US bank account (I am in Canada). This permits me to withdraw from Paypal without any currency conversion. Then, when US $ gets back on track I will withdraw from my US bank account to cash in CAN, so Paypal don't handle the currency transfer.

Also, I don't remember but don'T paypal offer to convert the currency OR leave it to bank to convert it?

Paypal is well known for hijacking their clients money and refusing to payout for whatever reason. It always feels like gambling for me using them. I just hope we get a different payout system like payoneer soon on the Agencies which haven`t made the switch already.

Istock, Dreamstime, Veer are already offering payoneer. The biggest missing ones are Shutterstock and Fotolia.

Wow thanks for the information. I have been using Paypal for more than 5 years and never ran into any issue. Anyone else came to same conclusion as Velociarpo with Paypal "hijacking their money"?

I was planning to keep some $ in there while US currency picks up...

Quote from: velocicarpo on June 15, 2011, 09:38

Paypal is well known for hijacking their clients money and refusing to payout for whatever reason. It always feels like gambling for me using them. I just hope we get a different payout system like payoneer soon on the Agencies which haven`t made the switch already.

Istock, Dreamstime, Veer are already offering payoneer. The biggest missing ones are Shutterstock and Fotolia.

Wow thanks for the information. I have been using Paypal for more than 5 years and never ran into any issue. Anyone else came to same conclusion as Velociarpo with Paypal "hijacking their money"?

I was planning to keep some $ in there while US currency picks up...

When you do mostly small transactions, stay within your country, login from the same computer, do not use it on ebay or similar services, your chances are very good that you will never have a problem with them. The Problem occurs when you do anything what gives them an excuse to block your account for "security" reasons. E.G. when you suddently login from a different area, different IP. OR when you suddently want to transfer money in the thousands instead of the usual 10 to 100 bucks. OR when you had been involved on ebay with someone who had suspicious activity they may lock your account too.

Since I am oftenly travelling and using the liberty Microstock is giving me I, for example, login sometimes from other countries, just to transfer the payouts to my bank account. They ALWAYS used to lock then my account and I had to undergo a ridiculous process, providing them the same papers again and again, until they paid me my money. You may argue that this is for security but for me this sounds like BS since I transfer my moeny since Years to the same account lol. I just stopped using them. I have no need to argue for weeks with a company that my money is my money.

Could someone please explain Pioneer to me.

You get a card with one agency and it works with those others mentioned.

-Agencies deposit money onto the card.
-You can withdraw cash from the card (paying MasterCards currency exchange rate)
-You can make purchases with the card like a real credit card.
-You can transfer money to your own bank account.

Any surprises?

Annual fees?

Can you use it like a real credit card :  i.e. make purchases and get a bill?

Any other fees, like a transaction fees (other than currency exchange) when you withdraw cash or make purchase?

I import low $K from U.S. in goods each year, these vendors don't take Paypal so really I have to convert my U.S. earnings to Cdn. and pay Paypal exchange, then purchase on my MC and pay exchange going the other way.

I hope I can answer some questions...

To make it short, what you get is a fully functional (debit) MasterCard.

-Agencies deposit money onto the card.
Yes. You sign up. Get a card. Get a login to their site. Agencies can load this card. When you login to your account you see the balance, transactions etc. You can have one card and associate it with more agencies, e.g. I have one which gets loaded by Dreamstime and Veer.

-You can withdraw cash from the card (paying MasterCards currency exchange rate)
Yes. I withdraw from many different places around the world and always was VERY satisfied with the rate. 

-You can make purchases with the card like a real credit card.
Yes.

-You can transfer money to your own bank account.
This is the upcoming feature. Until now: no. You just have it on your card and can withdraw it from any ATM around the world, but you cannot transfer from the card to your account as of now (correct me if I am wrong).

- Annual fees?
When a Agency loads your card you have to wait like 2 days until the money is available. If you do not want to wait there is a immediate load fee of 3 or 5 US (?). There is a monthly mainentance fee if you use the card. If you do not use your card there is no fee at all. Please check their site for the rates...

Beyond that, no surprises .... Every now and then they exchange your card and you get a new one send...

Thanks so much for the in-depth response!  One more question

-You can make purchases with the card like a real credit card.
Yes.

Agency pays me $100 I spend $250 and get a bill with a due date for $150?  Or can I only spend $100?

You can only spend the $100, that is the concept of a prepaid debit card.

Hi,

I know this is an old thread but I wanted to update you guys and let you know that Payoneer's Local Bank Transfer (LBT) Service is now available to over 200 countries worldwide.

To view the list of countries you can visit our site http://www.payoneer.com/localBankTransfer-Avail.aspx.

As always, if you have questions regarding Payoneer and any of our services feel free to ask or contact me via PM.

Thank you so much David!!!

Link is broken.

.

Presumably you don't HAVE to pay into the bank - it can continue to function just as a prepaid (debit) card and as an alternative to making payments via Paypal online?

Currently we require that you choose to either receive payments to the Payoneer card, or directly to your bank. In the very near future we will be releasing a service that allows you to receive all payments to your Payoneer account, and then either use your Payoneer card to access the funds or withdraw them to your bank account (so you can choose).