Payoneer now charges an annual fee
Thread poster: Samuel Murray

Samuel Murray  Identity Verified
Netherlands
Local time: 17:30
Member (2006)
English to Afrikaans
+ ...
Feb 24

For those who don't know yet, Payoneer has changed its terms of service, and now charge $30 per year for inactive accounts. If you have insufficient funds to pay the $30 per year, Payoneer will simply take the money from your next payment. So if your account remains inactive for e.g. 5 years before you get another payment by Payoneer, you can kiss the first $150 of it goodbye. I recommend closing your Payoneer account if you have one (unless you get lots of money via Payoneer).

 

Vladimir Morozov
Russian Federation
Local time: 17:30
English to Russian
+ ...
Could you please provide a link Feb 24

to this change in PayPal's T&C?

 

Georgi Kovachev  Identity Verified
Bulgaria
Local time: 18:30
Member (2010)
English to Bulgarian
+ ...
What do "inactive accounts" mean? Feb 24

Hi Samuel,

Thank you a lot for the information.

I wonder what "inactive accounts" might mean. Would your account be considered inactive if you have not logged in throughout the year, or you have logged in but had not made any transaction.

For instance, I just checked Skrill and saw that one only needs to log in during the year in order to avoid a monthly fee of 5.00 EUR. I am considering proposing a 2% discount to my clients that currently pay via PayPal in
... See more
Hi Samuel,

Thank you a lot for the information.

I wonder what "inactive accounts" might mean. Would your account be considered inactive if you have not logged in throughout the year, or you have logged in but had not made any transaction.

For instance, I just checked Skrill and saw that one only needs to log in during the year in order to avoid a monthly fee of 5.00 EUR. I am considering proposing a 2% discount to my clients that currently pay via PayPal in order to urge them to switch to Skrill. The current applicable fee for Skrill to Skrill transactions is 1.45% (receiving money is free).
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Thayenga  Identity Verified
Germany
Local time: 17:30
Member (2009)
English to German
+ ...
PayPal does the same Feb 24

If you're not using your account, either one, the provider will charge an Inactivity fee.

@ Georgi

With PayPal it suffices if you log into your account, let's say once a months. They want their customers to use their accounts. So if you receive a payment maybe once a month or every two to three months, no fee will be charged. Just don't leave it sitting still for several months.


 

Samuel Murray  Identity Verified
Netherlands
Local time: 17:30
Member (2006)
English to Afrikaans
+ ...
TOPIC STARTER
@Vladimir Feb 24

Vladimir Morozov wrote:
Could you please provide a link to this change in PayPal's T&C?

It's not PayPal. It's Payoneer.


 

TranslateWithMe
Poland
Local time: 17:30
English to Polish
+ ...
Information Feb 25

Hi,

I have information in my mailbox at Payoneer:

"We are updating our fees, including adding an annual fee that will be charged only if you did not complete at least one transaction using your Payoneer account or your Payoneer card in the last 12 months. This update will take effect from August 8, 2020."

I still don't know if they count 12 months from the last transaction or from the effective date of the update i.e. August 8, 2020.

In the HEL
... See more
Hi,

I have information in my mailbox at Payoneer:

"We are updating our fees, including adding an annual fee that will be charged only if you did not complete at least one transaction using your Payoneer account or your Payoneer card in the last 12 months. This update will take effect from August 8, 2020."

I still don't know if they count 12 months from the last transaction or from the effective date of the update i.e. August 8, 2020.

In the HELP section I can see 29.95 USD per year.

KR
Katarzyna

[Edited at 2021-02-25 06:55 GMT]
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Samuel Murray  Identity Verified
Netherlands
Local time: 17:30
Member (2006)
English to Afrikaans
+ ...
TOPIC STARTER
@Katarzyna Feb 25

TranslateWithMe wrote:
"...if you did not complete at least one transaction using your Payoneer account..."


Okay, so unlike with PayPal, simply logging in isn't enough: you need to complete a transaction.


 

Thayenga  Identity Verified
Germany
Local time: 17:30
Member (2009)
English to German
+ ...
PayPal and Payoneer Feb 25

Samuel Murray wrote:

Vladimir Morozov wrote:
Could you please provide a link to this change in PayPal's T&C?

It's not PayPal. It's Payoneer.


They both have pretty much identical procedures. Payoneer is satisfied with infrequent logins and/or transfers, either incoming or outgoing.


 

TranslateWithMe
Poland
Local time: 17:30
English to Polish
+ ...
not so easy Feb 26

Samuel Murray wrote:

TranslateWithMe wrote:
"...if you did not complete at least one transaction using your Payoneer account..."


Okay, so unlike with PayPal, simply logging in isn't enough: you need to complete a transaction.


Hi,

I was "forced" to use the service by one of my clients from the USA from whom I got only one job for 20 USD in the past. I can make a payment from the service if it is min. 50 USD (so now I cannot do this). I cannot pay in money from my own account (e.g. Paypal) to increase my balance to 50 USD and make the payment. Any other option to "complete a transaction"?

Also, the date 8 August (eefective date of the fee update) is important, because if they count the 12 month period from this date I can keep the account until August and wait, maybe my client will give me jobs (unlikely). If they count from the last transaction I am already past 12 months from it.

Cheers
Katarzyna


 


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Payoneer now charges an annual fee

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