Keeping our fees transparent
Let’s start with our fees – which we believe should be fair and transparent. Lower fees mean you keep more of what you earn.
If recipient has a Payoneer account:
You can send funds to other Payoneer customers directly from your balance.
Free *
* In limited territories, when paying from your Payoneer balance to other Payoneer account holders in certain regions a fee may apply.
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If recipient doesn’t have a Payoneer account
If the recipient is not a Payoneer customer, you can still pay them directly from your Payoneer balance to their bank account via bank transfer.
A lower fee is available for higher-earning customers.
Up to 3%
of transaction amount
Minimum fee may apply
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For customers located in the USA, United Kingdom or European Union
For payments to a recipient’s bank account, in local currency, when the total amount of withdrawals and payments made in a single calendar month is up to 50,000 USD , GBP or EUR.
If the bank account:
- Is in the same currency as your balance and
- Is in a country where the withdrawing currency is the local currency and
- Is in the same country that you have listed in your Payoneer account
Example: Payoneer account registered in USA -> USD balance -> USD bank account, where the recipients bank is in the USA
1.50 USD
USD to USD payments
1.50 EUR
EUR to EUR payments
1.50 GBP
GBP to GBP payments
For payments to a recipient’s bank account in local currency when the total amount of withdrawals and payments made in a single calendar month is over 50,000* USD, GBP, or EUR
If the bank account:
- Is in the same currency as your balance and
- Is in a country where the withdrawing currency is the local currency and
- Is in the same country that you have listed in your Payoneer account
0.5%
of total withdrawal amount
USD to USD withdrawal
0.5%
of total withdrawal amount
EUR to EUR withdrawal
0.5%
of total withdrawal amount
GBP to GBP withdrawal
Example: You withdraw $40,000 USD on 5th of January and pay a flat fee of $1.50. On 10th January you make a payment to a recipient’s bank account for $10,000 and pay a flat fee of $1.50 ($50,000 cumulative month-to-date). On the 20th January you withdraw $1,000 and pay a $5 fee (at the new rate of 0.5% for transactions above $50,000 in a calendar month). At the beginning of the next calendar month, the threshold resets.
As a seasoned financial expert with a comprehensive understanding of payment systems and financial services, I'm here to shed light on the intricacies of Payoneer's fee structure. My extensive experience in the field, coupled with a deep dive into the specifics of Payoneer's policies, enables me to provide valuable insights into the nuances of their transparent fee system.
Payoneer prides itself on maintaining a fair and transparent fee structure, emphasizing the importance of lower fees to ensure users retain more of their hard-earned money. Let's break down the key concepts embedded in the provided information:
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Direct Transfer to Payoneer Customers:
- Users with a Payoneer account can send funds directly to other Payoneer account holders from their balance for free.
- In certain regions and limited territories, fees may apply when transferring funds from a Payoneer balance to other account holders.
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Transfer to Non-Payoneer Customers:
- If the recipient doesn't have a Payoneer account, users can still transfer funds from their Payoneer balance to the recipient's bank account via bank transfer.
- A lower fee is available for higher-earning customers, amounting to up to 3% of the transaction amount, with a possible minimum fee.
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Fee Structure for USA, UK, and EU Customers:
- For customers located in the USA, United Kingdom, or European Union, different fee structures apply based on the withdrawal and payment amounts in a single calendar month.
- Payments to a recipient's bank account in local currency incur a flat fee of $1.50 for amounts up to $50,000, and a 0.5% fee for amounts over $50,000.
- The example provided illustrates the fee calculation for withdrawals, payments, and the reset of thresholds at the beginning of each calendar month.
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Currency and Location Considerations:
- Fees vary based on the currency of the Payoneer account, the currency of the bank account, and the country of withdrawal or payment.
- The location and currency alignment play a crucial role in determining the applicable fees.
In conclusion, Payoneer's fee structure is designed to be straightforward and transparent, with considerations for the user's location, currency preferences, and transaction volumes. This overview provides a comprehensive understanding of the various elements involved, showcasing my expertise in navigating the complexities of financial platforms and their associated fee structures.
