Payoneer local bank transfer Fee in India ?


#1

Hi guys,
any author use payoneer in india? and local bank transfer fee($5.95 per payment) is exactly what they promise ? i’ve withdrawn $50 from envato to payoneer and payoneer transferred it to my bank account only $30. Is there any hidden charge ?

Thank you


#2

i never used Payoneer, why don’t you use Paypal, even their conversion rate is little lower that the actual rate they transfer the whole amount. Is there any specific reason you choose Payoneer?


#3
martinjamez said

i never used Payoneer, why don’t you use Paypal, even their conversion rate is little lower that the actual rate they transfer the whole amount. Is there any specific reason you choose Payoneer?

I use only paypal so far, but i just wanna know how payoneer works in India.


#4

Hi,

Payoneer provides an excellent solution for Indian residents, providing you with a local bank transfer service. This means that we send your payments from a local bank in India, in INR. Our conversion rates are among the best available, being only up to 3% above the official market mid-rate at the time of transfer.

We charge only $5.95 per transfer to your bank account, and there are no other costs associated with the service. If you’d like to send me an e-mail with your payment reference number (or account e-mail address) I’d be happy to look further into your most recent payment.

Nissim | Head of Community at Payoneer | www.payoneer.com


#5
Nissim_Payoneer said

Hi,

Payoneer provides an excellent solution for Indian residents, providing you with a local bank transfer service. This means that we send your payments from a local bank in India, in INR. Our conversion rates are among the best available, being only up to 3% above the official market mid-rate at the time of transfer.

We charge only $5.95 per transfer to your bank account, and there are no other costs associated with the service. If you’d like to send me an e-mail with your payment reference number (or account e-mail address) I’d be happy to look further into your most recent payment.

Nissim | Head of Community at Payoneer | www.payoneer.com

I send you an email. moreover i would like know if i can change my bank account ?

Thank you


#6

Great, thanks, will check.

You can change your bank account on file by submitting a request here: http://www.payoneer.com/emailform.aspx (Category is “Global Bank Transfers”, Subject is “How do I change my bank details”.)

Nissim | Head of Community at Payoneer | www.payoneer.com


#7
Nissim_Payoneer said

Great, thanks, will check.

You can change your bank account on file by submitting a request here: http://www.payoneer.com/emailform.aspx (Category is “Global Bank Transfers”, Subject is “How do I change my bank details”.)

Nissim | Head of Community at Payoneer | www.payoneer.com

I did it . Thank you :)

#8

Hi xnorpix,
I’m using Payoneer’s “Global Bank Transfer” and its the best method for withdrawing from Envato for Indian authors.


#9

i am trying to find out which is the cheapest method to withdraw money in india for smaller amount like 1000 USD/month. everybody seems same to me.

paypal charges 3-4% fees in name of currency conversion. payoneer also does the same 3% rate + $6 (approx) extra fees which is 0.6%( for 1000 USD), so total is 3.6%

skrill is also same. so, how payoneer is better???


#10

Hi,

For local bank transfers to India, we now charge only $2.99 per transfer. In addition, we convert funds from USD to INR using rates of only 2.75% above the official mid-market rate.

As a local bank transfer, we send funds from a local bank in India, in INR. This is very quick and generally arrives within 1-3 business days.


#11
Nissim_Payoneer said

Hi,

For local bank transfers to India, we now charge only $2.99 per transfer. In addition, we convert funds from USD to INR using rates of only 2.75% above the official mid-market rate.

As a local bank transfer, we send funds from a local bank in India, in INR. This is very quick and generally arrives within 1-3 business days.

If I want to transfer $200 to my local bank account in India how much Indian Inr I will receive in my local bank account?


#12
chandanlive said

If I want to transfer $200 to my local bank account in India how much Indian Inr I will receive in my local bank account?

11000 to 12000 :wink: nearly


#13
dr3772 said
chandanlive said

If I want to transfer $200 to my local bank account in India how much Indian Inr I will receive in my local bank account?

Ok but how much Payoneer will deduct?


#14

If you choose the Payoneer Global Bank Transfer Service, we charge $3.00 for each transfer to your bank account in your local currency (in this case INR).

We convert funds from USD to INR using rates of up to 2.75% above the official mid-market rate at the time of transfer. You can estimate mid-market rates using websites such as XE.com.


#15
Nissim_Payoneer said

If you choose the Payoneer Global Bank Transfer Service, we charge $3.00 for each transfer to your bank account in your local currency (in this case INR).

We convert funds from USD to INR using rates of up to 2.75% above the official mid-market rate at the time of transfer. You can estimate mid-market rates using websites such as XE.com.

I have check xe now 1 usd = 60.8079 Current Currency Rate

See my math USD $200 = INR 12161.58 as per xe.com
convert funds from USD to INR using rates of up to 2.75% for $200 = $5.5 = INR 334.44
$3.00 for each transfer $3 = INR 182.42
Total money deduct INR 334.44 + INR 182.42 = INR 516.86
Total money value = INR 12161.58 - INR 516.86 (Payoneer deduction)
I get money from my local bank account = INR 11644.72

I am right?


#16

@chandanlive - I have shown below the simple math considering $200 withdrawal using Global Bank Transfer.

$200 - $3 = $197 (Final amount in USD, which will be converted to INR using rates of up to 2.75% above the official mid-market rate at the time of transfer)

$1 = 60.8 x 2.75% = INR 59.128

Total = 197 x 59.128 = INR 11648.216.


#17
templatin said

@chandanlive - I have shown below the simple math considering $200 withdrawal using Global Bank Transfer.

$200 - $3 = $197 (Final amount in USD, which will be converted to INR using rates of up to 2.75% above the official mid-market rate at the time of transfer)

$1 = 60.8 x 2.75% = INR 59.128

Total = 197 x 59.128 = INR 11648.216.

Perfect its better then paypal?


#18

I’m using Payoneer for withdrawing my earnings since last year and its 100% better than any other withdrawal options on Envato especially for Indian authors.


#19
templatin said

I’m using Payoneer for withdrawing my earnings since last year and its 100% better than any other withdrawal options on Envato especially for Indian authors.

Very nice thanks for your help :slight_smile:


#20

Hi, templatin

I have a verified PayPal a/c. I want to use PayPal for withdrawing my earnings. What is your opinion?