Monday, 8 July 2013

Payoneer Fees vs. Paypal Fees in 2017 (Now Updated)

Both Payoneer and PayPal have their own individual set of fees that set them apart from each other. The Payoneer card fees are mostly fixed, while PayPal's fees can be more percentage-based.

PayPal Fees


This can be a good thing in different ways. It all depends on your payment needs and circumstances. Nonetheless, fees are what they are and you have to pay them if you want to use your money.

PayPal transactions are always free whenever you buy something or send money to someone in the United States. PayPal is also free of charge when it comes to transferring money in the United States whenever it is done from a bank account or existing PayPal balance.

Now if money needs to be sent abroad to family, friends, or businesses, PayPal will charge 2.9% of the total balance that is sent plus 0.30 cents USD per transaction that is sent. PayPal Merchant Fees can vary and are usually charged on a monthly basis.

If you get a PayPal Standard Account, there are no monthly fees. PayPal Payments Advanced charges $5 per month and PayPal Payments Pro charges $30 per month in fees.

When you receive payments for goods or services with PayPal, they charge 2.9% (plus 0.30 USD) as a standard rate. If your monthly payments are over $3,000 then you can get a discounted fee as low as 2.4%.

Payoneer Card Fees


Payoneer is also fee-based and the fees do vary between certain countries (non-standard and slightly higher fees apply to countries such as India - similar restrictions apply to PayPal, however).

An ATM cash withdrawal charge is $2.75, no matter where in the world you are withdrawing from. If an ATM withdrawal or Point-of-Sale transaction is declined, the charge is $1.

If you sign up with Payoneer directly - that is, not through a partner such as Upwork or Fiverr - there is an annual fee of $29.95 for use of the card, with no monthly fees attached.

When paying for goods or services with your Payoneer prepaid MasterCard debit card at a Point-of-Sale machine, there is no charge or fee - it simply deducts the amount you paid from your card balance.

If you are using Payoneer in conjunction with a Payoneer Partner (Upwork, 99designs, and many more), you will be able to receive payments from that partner company with no extra card fees beyond the annual fee.

Withdrawing funds from these companies with Payoneer as payment method is free if you don't mind waiting 2 business days. For $2.50 extra, you have the option to withdraw your earnings within 2 hours.

When you want to receive a credit card payment from a client, the fee is a fixed 3% of the total payment.

In the event that you lose your Payoneer card, you can order a replacement card for $12.95.

Interested in learning more about Payoneer's prepaid card for getting paid online? Check out this Payoneer review to find out if it's for you.

You can also sign up with Payoneer directly to get your free Payoneer prepaid debit card (MasterCard).


Get Your Free Payoneer Card


Free Reloadable MasterCard Debit Card by Payoneer + $25 Bonus

Why Payoneer?

Before knowing why people, particularly those who love to engage in online transactions, should use Payoneer, it is only fitting to know first what Payoneer is. Payoneer is similar to PayPal and Skrill in the sense that it is a payment processor used internationally. The service guarantees secure, safe, fast, and convenient online payment transactions for less. This service is a hit among international freelancers and even for local netizens who get their income online.
Click here to sign up for your Payoneer card and get your $25 referral bonus (after you reach $100 in received payments).

How does Payoneer work?

Payoneer account holders automatically get a prepaid MasterCard, which functions like any other prepaid debit card with the MasterCard branding. Moreover, an account holder also gets an online card account connected to the MasterCard. The online account can be used by account holders to view their account balance and the history of their transactions. They can also manage their account and personal details on the online account.
So, how can account holders use the Payoneer MasterCard debit card? They can receive payments from anyone who also has a Visa or MasterCard account, and that includes anyone from any part of the world. This service does come with a processing fee, though. This should not be surprising since other payment processors also charge fees for their services. With Payoneer, a single credit card payment has a maximum load amount of $1,000.

Payoneer and PayPal verification

Payoneer works as well for those who want to verify their PayPal accounts, but do not have a bank account or credit card. Since PayPal does not issue cards to users outside the US, but at the same time requires all account holders to verify their account, having a Payoneer account (with the MasterCard debit card) is a very convenient option.

ACH/Direct Deposits for commissions, royalties, and online payouts from US companies

Payoneer also provides convenience as account holders can receive direct deposit payments from companies like Amazon and PayPal. This has been made possible through the US Payment Service feature of Payoneer.
As with the other services, Payoneer charges a reasonable transfer fee of 1% of the total amount received. On the other hand, account holders can also get online payments from partners of Payoneer like oDesk and Elance. This transfer can be done for free and takes at most a couple of days to execute. Payoneer account holders who want to expedite the transfer and receive their money within three hours maximum after the request will be charged $2.50.

Spending and withdrawals with Payoneer

As for the Payoneer card, as great as it is for online transactions, it can also be used in brick-and-mortar shops that accept MasterCard. Cash withdrawals can be done anywhere and account holders can receive amounts in local currency through ATMs, with a $3 ATM cash withdrawal transaction fee.
The global acceptance of the Payoneer MasterCard card and the flexibility of the currency (either US dollar or local currency with automatic exchange) are plus points for Payoneer. Moreover, the convenience and security of transfers from PayPal and other major US partners make it a must-have for anyone earning money online.

Get your Payoneer card + free $25 signup bonus

Payoneer is offering new cardholders $25 added to their account for free when they sign up through the Refer-a-Friend promotion. Apply for your card via the link below to qualify for your bonus.

Popular Companies That Use Payoneer - US Payment Service Whitelist

Update: Payoneer's new Global Payment Service allows you to send a Payment Request to any US or European company, meaning all Western companies can now pay you straight to your Payoneer card.

 

Read about the new Global Payment Service and don't forget to come back for your $25 signup bonus link given below.

---

 

How do you get paid with a Payoneer prepaid MasterCard debit card?

Payoneer is a global payment gateway that provides an affordable way for online freelancers, affiliate marketers, and internet entrepreneurs to get paid from anywhere in the world.
Signing up at Payoneer.com gets you a free MasterCard-branded prepaid debit card and online account which you can use to receive quick, hassle-free payments from over 60 major US companies including Amazon, PayPal, eBay, 2CheckOut, and Elance / Upwork.
To get access to receiving payments this way, you will first need to sign up for your Payoneer debit card and then opt in to the US Payment Service feature by applying directly online via Payoneer's website. The application for adding the US Payment Service to your Payoneer debit card account requires you to submit brief personal details, including a government-issued ID photo or driver's license.
Once your US Payment Service application has been approved, you will be given your new virtual US bank account details, which you can then use to withdraw funds via Direct Deposit straight to your Payoneer card, from any of the US corporations mentioned below.

What are the companies that use Payoneer?

Here are a few of the most popular US companies approved by Payoneer's US Payment Service:
  • Amazon (including the Associates Program and Kindle Direct Publishing / CreateSpace)
  • PayPal
  • eBay
  • 2CheckOut
  • Elance / Upwork
  • oDesk / Upwork
  • ThemeForest
  • Envato Studio
  • ClickBank
  • LinkShare
  • InfoLinks
  • ShareASale
  • GoDaddy
  • Digital River (OneNetworkDirect)
  • AvantLink
  • BuySellAds
  • Kontera
  • ... And over 30 more
To the see the full list of companies that accept Payoneer as an option to receive money via ACH / Direct Deposit, refer to the Global Payment Service page.
Thinking about signing up with Payoneer? You can check out this great Payoneer review to give you an idea of what you can expect.
If you act now and sign up for your free Payoneer debit card through this link, you will have a complimentary $25 added to your account once you reach $100 in payments (this is Payoneer's Refer-a-Friend promotion).