Popular online money transfer service Payoneer has significantly increased the fees for sending or receiving payments in Pakistan. This change could greatly impact local freelancers who depend on Payoneer for their business.
The new transaction fee is now 3% of the total amount being transferred, plus a fixed fee of $0.49 for each transaction in USD. This is an increase from the previous fee of 2%. For transactions in other currencies, the fixed fee will be different: 0.39 GBP for British pounds, 0.45 EUR for euros, 0.75 AUD for Australian dollars, 0.67 CAD for Canadian dollars, and 73.76 JPY for Japanese yen.
Please note that this fee increase applies to all types of payments made or received through Payoneer. This includes payments made using debit or credit cards, as well as payments received through the “Request a Payment” option or when you use a debit or credit card in the “Initiate a Payment” section.
The new Payoneer fee changes won’t take effect right away. They will start on October 20, 2024. After this date, you will see the updated fees for eligible services on the Fee page in your account settings. Any other fees that are currently applied will stay the same and will not be affected by this change.
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