Why I Wouldn't Use Payoneer's Program with 2CO

Discussion in 'Payment Processing' started by sixty6, Jan 13, 2008.

  1. #1
    https://payouts.payoneer.com/payouts/partners/2CheckOut/fees.aspx

    When I first signed up for 2Checkout, I was fascinated by all their different features. When I went to their banking wizard, I saw Payoneer as an option and being as curious as I am, I decided to take a look.

    They take $2/month from the card balance and another $2/week when you load funds from 2CO. They also have an activation fee of $9.95

    Overall, they take about $10/month from my Payoneer account, when I only make around $100/month from 2CO (I just setup their account a few weeks ago). It seems like such a hassle.

    Instead, I had 2CO linked with one of my bank checking accounts, which is linked to my debit card. There are NO FEES TO HAVE 2CO ACH YOUR BANK ACCOUNT! So I can withdraw the money using my debit card, and it only takes 2 days to clear. They say that Payoneer gives you immediate access to your funds, but the problem is that Payoneer ALSO takes 2 days to clear funds into your card before you can use it.

    Also, I hoped to use Payoneer as a debit card, but apparently they have a fee for that as well - I thought the whole point of Payoneer affiliating with 2CO was so that it could offer customers a quicker way to access their funds...

    I'm going to just close my account with Payoneer and shred the CC when I get it in the mail. Plus, not many 2CO customers appreciate the horrible Payoneer support, they've been complaining about it alot on the 2CO forums.

    I hate it when companies affiliate with other companies without taking into consideration what a crappy product or customer service they offer at times..
     
    sixty6, Jan 13, 2008 IP
  2. buileminh

    buileminh Peon

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    #2
    There is a funny story that my card was approved 2 months ago but i have not received it yet :)
    Both 2CO and Payoneer are bad. I am seller in 2CO and my balance is now $-33.70 :D
     
    buileminh, Jan 14, 2008 IP
  3. sixty6

    sixty6 Well-Known Member

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    #3
    I read a lot about how people haven't received their Payoneer cards, but amazingly I just received mine in the mail. I decided that I'm not going to activate it, so I'll be cutting it and sending them an E-Mail telling them that I don't want it.

    Their fees are just unreasonable.
     
    sixty6, Jan 14, 2008 IP
  4. eddy2099

    eddy2099 Peon

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    #4
    Well, the Payoneer Card is good for those lives outside of the US where ACH is not available and where wire transfers is expensive and check payment too slow and expensive. It would however does not have any advantage if you are in the US since ACH is fast and pretty much free.

    If you are living outside the US then their fees are definitely cheaper than wire transfers.
     
    eddy2099, Jan 14, 2008 IP
  5. sixty6

    sixty6 Well-Known Member

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    #5
    I thought 2CO mentioned that wire transfers were only $10/transfer, that doesn't seem too hefty to me...This is over $10/month, not including ATM fees...
     
    sixty6, Jan 14, 2008 IP
  6. eddy2099

    eddy2099 Peon

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    #6
    Cool! It looks like they lowered the fees.
     
    eddy2099, Jan 14, 2008 IP
  7. sixty6

    sixty6 Well-Known Member

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    #7
    Yeah you can view their wire transfer fees here:
    http://www.2checkout.com/community/?cat=9#post-84

    $6/transfer in local currency
    $15/transfer in USD Currency to an area where USD is not the local currency (I don't know why anyone would choose this)
    $10/transfer in the currency listed at the link

    So there really isn't much of a difference..
     
    sixty6, Jan 14, 2008 IP
  8. eddy2099

    eddy2099 Peon

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    #8
    Well, actually not all currency are listed in the FX currency group and there are those who have no choice but to opt for the USD. We cannot ignore them or assume they do not exist.
     
    eddy2099, Jan 14, 2008 IP
  9. surf4fun

    surf4fun Peon

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    #9
    payoneer prepaid mastercard is like GOd for countries who cant get International credit cards easily..
     
    surf4fun, Jan 15, 2008 IP
  10. sixty6

    sixty6 Well-Known Member

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    #10
    But the funny thing is that people in the U.S. are complaining that they don't get their cards in the mail, so how can you expect them to ship it internationally efficiently? Plus, that many people are complaining about their support, if you live out of the U.S. you would have a hard time getting in touch with their support, wouldn't you?

    I mean it would be nice to see something similar to ACH Deposit established as an international means, instead of just the U.S.

    Why wouldn't they just take the local money in the wire currency if it's cheaper for them? Who in their right mind would want USD if they can't even use it where they live?
     
    sixty6, Jan 15, 2008 IP
  11. krok

    krok Peon

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    #11
    Hi.My first Payoneer card was approved 2 months ago and now I have received it
    My second Payoneer card was approved 2 weeks ago and now I have received it too( was mailed to me via USPS-EMS).
     
    krok, Jan 15, 2008 IP
  12. sixty6

    sixty6 Well-Known Member

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    #12
    I'm not trying to just blatantly bash the company, simply putting up why I wouldn't bother using Payoneer's debit card option, just seems like such a waste for U.S. customers, especially.
     
    sixty6, Jan 15, 2008 IP
  13. Hellfire81

    Hellfire81 Peon

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    #13
    I am German and I recieved 1 Payoneer from GAF (6 days after approved) and 1 from another programm (no idea where from) also within the same timeframe. Also I don´t know what to say about Payoneers customer service: they replied always within 24 hours (compared to PP for example TURBOFAST). So for international customers it´s okay I think if you make some more money
     
    Hellfire81, Jan 15, 2008 IP
  14. eddy2099

    eddy2099 Peon

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    #14
    Of course, we would all want to take wire transfer in our own currency but like I said, not all countries are listed in the FX Countries.

    Here are the countries which are listed in the FX Countries

    Listed is only 28 currencies which probably is used by some 40 countries of the 200 odd countries in the world. Say if someone is from China or Egypt, their currency is not listed above and thus cannot request for 2CO to send them in local currency, they will need to opt for receiving funds in USD and then their local bank would do the conversion.

    Although my country is listed in one of the countries sometimes the conversion which 2CO gives may not be as favorable as the conversion rate given by my bank.
     
    eddy2099, Jan 15, 2008 IP
  15. sixty6

    sixty6 Well-Known Member

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    #15
    Alright, so the difference in the situation is $1, but I see your point...
     
    sixty6, Jan 15, 2008 IP
  16. Lastbutnotleast

    Lastbutnotleast Peon

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    #16
    So international customers can get a Payoneer card through affiliate programs (although not directly)

    Good information ;)
     
    Lastbutnotleast, Jan 15, 2008 IP
  17. kewlchat

    kewlchat Well-Known Member

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    #17
    Im useing it through adultfriendfinder and it took like a week to get my card last month but then friendfinder changed my payment option from payoneer to check with out asking me, and i was supposed to get my check some time after jan 3rd but it still did not come and they payout again on the 16th and this time im switched back to payoneer, by my request but im wondering if im ever going to get a check or payoneer payment from them :(
     
    kewlchat, Jan 15, 2008 IP
  18. Lastbutnotleast

    Lastbutnotleast Peon

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    #18
    kewlchat, be careful with MSN in your domain names

    MSN is a registered trademark ;)

    "Free Msn Chat Rooms" | "Msn Chat Rooms"
     
    Lastbutnotleast, Jan 15, 2008 IP
  19. sixty6

    sixty6 Well-Known Member

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    #19
    I think you can use it internationally if you order it through Payoneer itself, since their order form has a number of countries to choose from.
    Well that sounds like more of a problem with adultfriendfinder than Payoneer, but they have a serious problem with getting the cards out, sometimes it doesn't even reach the person.
     
    sixty6, Jan 15, 2008 IP
  20. eddy2099

    eddy2099 Peon

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    #20
    No, if you order directly through Payoneer, you need to be from the US but once you get the card, you can use it internationally.

    See https://www.payoneer.com/CardOrder/OrderCard.aspx

    The other thing is that you need to sign up through an Affiliate if you want your affiliate to pay you through Payoneer. You cannot use a single payoneer card for all your affiliate programs as it does not work that way. It be nice if it does but it does not.
     
    eddy2099, Jan 15, 2008 IP