Paypal vs Payoneer

Discussion started by JimPlatt

Hey People, After a bit of advice....Was just wonder if someone out there uses Payoneer as a payment method and find it better or worse than Paypal? Bit frustrated with how much I lose out from converting $ to my local currency (pounds sterling in my case). The exchange rates they apply in their conversion is always way lower than the markets! Do Payoneer do the same? Have tried getting a Global currency Mint card etc but that doesn't work now!

Any advice much appreciated.

Jim

Answers

Posted 10 months ago
1

As far as I know payoneer has 3.5% exchange rate and PayPal 4.5%. But personally I prefer to use PayPal, because it has lower bank account transfer fee in my country (literally free), and Payoneer charge $15 +2% per transfer.
It really depends on your local laws.

Posted 10 months ago
0

In my experience, I would never use Paypal again, they are thieves who think your money is theirs...

Not to mention that as soon as you have exceeded €2,500, they will start demanding a lot of senseless paperwork, in fact they will block your account and keep your money until you give them what they ask for.

Also they will return the money to any idiot who requests it and you will lose sales (although this also happens in the others, I think to a lesser extent).

It is also true that I have never used Pionner, I have been using a bank transfer for a long time and I have not had any problems, also there are no fees for receiving your money. So I can't tell you much more.

LemonadeCG wrote
LemonadeCG
Out of curiosity - how much wire transfer costs to you? I was always under impression that wire transfer is much more expensive than withdrawal through online banks like paypal, or payoneer and that one would only choose it if there are no other options available.
TheGoodBrick wrote
TheGoodBrick
Normally CGTrader charges me about 0.45 dollars when they send the money to my bank acount, and that's it! I think it's not bad.
LemonadeCG wrote
LemonadeCG
Really? I thought it's a fixed rate, something like $20-$50 for the transfer. Or maybe it's your bank that takes big fee for wire transfer? I'm very surprised to hear that it's that cheap. On the other hand paypal is transferring funds to my bank free of charge, but their currency exchange rate quite sucks.
TheGoodBrick wrote
TheGoodBrick
My bank does not charge me anything (that I have noticed) and I think the conversion from dollars to euros is not bad at all. For example, this last month (very weak) is 240 dollars, and about 220 euros will enter my account. So the only loss I see would be those 20. The only problem that I have seen is that in the months in which the euro exceeds the dollar, the conversion remains the same. Also sporadically, maybe every 6 or 7 months CGTrader charges about 15 dollars when making the payment, but as I told you, the normal thing is about 0.41. And if I remember correctly, when I was with PayPal, those fees were several dollars.
LemonadeCG wrote
LemonadeCG
Thank you for such detailed answer. Paypal's fees depends on the transfer amount and they're indeed reaching several dollars. I think i will stick with paypal for now, since i don't have many reasons to be upset with them. nevertheless, it has been nice to find that wire transfer is viable alternative, just in case. P.S. if i were you, i would probably try to contact cgtrader and ask what's up with that occasional $15 dollar fee. Sounds quite odd to me.
Posted 10 months ago
0

In my experience, I would never use Paypal again, they are thieves who think your money is theirs...

Not to mention that as soon as you have exceeded €2,500, they will start demanding a lot of senseless paperwork, in fact they will block your account and keep your money until you give them what they ask for.

Also they will return the money to any idiot who requests it and you will lose sales (although this also happens in the others, I think to a lesser extent).

It is also true that I have never used Pionner, I have been using a bank transfer for a long time and I have not had any problems, also there are no fees for receiving your money. So I can't tell you much more.

Posted 10 months ago
1

I've been using paypal for more than 10 years, never had major issues with them. Yes, their currency exchange rate is unfair, but good thing is that they keep your money in original currency and only convert it (forcefully) to your currency at the moment of withdrawal, so if you don't need the money immediately, you can wait and plan withdrawal when the rate is more favorable.

I wanted to try pyoneer some time ago, mostly because of (presumably) lower fees, but never managed to go through their support system which is basically non-existant.

Posted 10 months ago
1

My CGt Payout fees got to 0 when Payoneer was set as payout method instead of Paypal. It was very nice but Payoneer at given point abruptly blocked my account + funds, answer to question why was that I presumably violated terms of use. Answer to question what terms did I violate was, we do not need to answer that but it can be one of following reasons, got some list of options including suspicion of money laundering, etc. In essences non of them was something I was doing but they just presumed otherwise and they didn't care investigating in detail. Basically they just block you indefinitely if there is some odor of something you have no clue about.

Took me 4 months to get funds back to CGt and work again as usual with Paypal account and paying lots of payout fees.

I’m reluctant to try anything ells after this ordeal.

Posted 10 months ago
1

After having issues with internet banks I switched to wire.
The minimum is 200 USD.
My latest payout fee here to get my money transferred to my bank was 0.45 USD.
My local bank charges 2% transaction fee (no "base" or "minimum" or "fix" additional fee), and the (currency) conversion fee is 1% (no additional fee).
Here in Europe probably the cheapest and most reliable way to get paid is wire.
...and if something goes sideways, you have much higher chance to reason with a local bank teller than with a PayPal or Payoneer support agent somewhere far away...
Just my two cents...

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