Today, I had a customer load my payoneer card. The transaction appeared in my account with a note saying: missing information, please contact Support!!!!!
Guess what? they asked my customer to fax them a copy of his driver license, eventhough the same customer loaded my card several times this month.
When I phoned Payoneeer support, their representative was accomodating, yet I was told that the card was issued mainly for 2CO payments, private loads is only a bonus. What bonus?
Notes:
- Between the loader and the card holder they charge 6.5% + US$2.15, what bonus are they talking about?
- The loader info will be verified in two working days.
- After verification, the card is loaded in another 3-4 days?
- That means I will not be able to cash before 5 days, and that is if, from what I have been reading, the network is not down.
Payoneer guys should do some simple mathematics, they are not cheaper than Bank wires, their only advantage is speed, or that is what I thought which seems not to be the case with them.
3 Comments »
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The Payoneer Security Department is working with top-of-the-line secure technology and adheres to stringent regulations for customer privacy, authentication and identity verification. Payoneer complies with the required KYC (Know Your Customer), BSA (Bank Secrecy Act), AML (Anti-Money Laundering) procedures and OFAC (Office of Foreign Assets Control). These procedures are enforced to insure the security and safety of all Payoneer cardholders.
To clarify the fees:
-The loading fees are 3.5% of the amount loaded when using a Visa or MasterCard.
-When loading via US Bank account it is $5 the first time and $2 every additional load from the same bank account.
If you have any specific questions about your payment feel free to email me at Allan@payoneer.com
Allan
Payoneer
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Dear Allan,
Thank you for your response.
I am still confused about payoneer fees.
You have 2 *Pricing & Fees* pages:
1- The one accessed from your homepage does not mention and fees for ATM withdrawals.
2- The one accessed from within the account states: ATM withdrawal -outside US $2.15 + up to 3% of transaction amount Per Trx When withdrawal is requested.
I withdraw in Egyptian currency; the amount I cashed was always 3% less than the exchange rate.
So what you are charging actually is: 3.5% from the loader and 3% + US$ 2.15 from the card holder = 6.5% + US$2.15
As regarding complying with security regulations, I think the requirements should be requested from the loader at the loading page, not after he completes his payment, so he would be free to proceed or to seek another payment method.
Thank you
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I will be more than happy to clarify the fees structure with you. Can you please email me your details so that we can be in touch.
Thank you,
Allan
Allan@payoneer.com