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: Fees & Details + $25 Bonus
Discover what Payoneer's prepaid MasterCard debit card can do for you - with low fees, you can easily receive your online earnings today. Sign up here for your free card and $25 bonus.