Comment by Marsymars
1 day ago
It’s okay, but the cash is pretty tricky to get full value from if you’re not on your toes. It goes through the “Payoneer” service. The Payoneer terms aren’t entirely clear, but seem to imply that you’ll get charged an annual fee after a year if you keep the account open but inactive.
If you want the payment in non-USD, Payoneer takes a 2% cut on conversion fees - I figured I’d take the payment in USD, but neglected to do a full read-through of how the payment would happen - it comes as a wire transfer, and the bank I used has a 15 USD incoming wire transfer, so I got hit with that instead of the 2% conversion fee. (And the payment got blocked until the bank called me to inquire about whether I was expecting a wire transfer.)
I really would have just preferred a physical cheque in USD. (The mechanism with which I’ve received refunds for recalls from other companies that didn’t want to do internationalized payments.)
Not sure if it is different than mine but I use Payoneer to get payments through Fiverr, From my knowledge they don't really hold money but just transfer it to your available card. I have never been hit by a fee for inactive account (i've paused my gigs on Fiverr but not my Payoneer account for more than a year at this point)
The fees are quite real though, before I've moved to using BTC for payments i've been getting around 900~ while when i moved to BTC my payments went up to 1900~ thanks to no wire and skipping Fiverr's and Payoneer's cuts.
From “Payoneer Fees”: https://www.payoneer.com/about/pricing/
> Annual account fee: This fee applies only to accounts that receive less than $2,000 USD (or equivalent) over a 12-month period. Customers who pay for an Annual Plan are not subject to this fee. 29.95 USD