How can one avoid Payoneer fees?
Avoiding Payoneer fees can be a bit tricky, but not impossible. Here are a few strategies you can employ:
1. **Choose the Right Withdrawal Method**: Payoneer charges different fees for different withdrawal methods. For instance, withdrawing to a bank account in a different currency can incur a 2% fee, while withdrawing to a bank account in the same currency has a flat fee of $1.50. Therefore, choosing the right withdrawal method can help you save on fees.
2. **Avoid Small Transactions**: Payoneer charges a flat fee for transactions, regardless of the amount. Therefore, making larger, less frequent transactions can help you save on fees.
3. **Use Payoneer’s Global Payment Service**: This service allows you to receive payments from companies worldwide without any fees. However, it’s only available for certain types of payments and in certain countries.
4. **Negotiate with Your Clients**: If you’re using Payoneer to receive payments from clients, you could try negotiating with them to cover the Payoneer fees.
Remember, it’s always important to read the terms and conditions of any financial service you use to make sure you understand all the potential fees and charges.