Payoneer Fee & Conversion Calculator
Calculate exactly how much will reach your bank account after Payoneer fees.
How Payoneer Rates Work
Understanding Payoneer's fee structure is crucial for freelancers and businesses operating internationally. Unlike traditional banks, Payoneer charges based on the source of funds and the destination currency. Most users encounter two main types of costs: receiving fees and withdrawal fees.
1. Receiving Fees
When you receive money into your Payoneer account, the fee depends on how the money was sent:
- From another Payoneer user: Generally free of charge.
- From Marketplaces: Platforms like Upwork, Fiverr, or Airbnb usually have specific agreements where receiving is free, but they may charge a fee on their own side for the transfer.
- Direct Bank Transfers: Receiving via the Global Payment Service (USD, EUR, GBP, etc.) typically costs between 0% and 1%.
- Credit Card Payments: If a client pays you directly via credit card through Payoneer, a 3% fee is standard.
2. Withdrawal and Currency Conversion
This is where most of the cost occurs. When you move money from your Payoneer balance to your local bank account, Payoneer applies a currency conversion fee. This is usually up to 2% above the mid-market exchange rate. If you are withdrawing the same currency (e.g., USD to a USD bank account in a non-US country), a fixed fee (often $1.50) may apply instead.
Practical Example
If you receive 1,000 USD from a direct client via bank transfer (1% fee) and withdraw it to your local currency (2% fee):
- Receiving Fee: 1% of 1,000 = 10 USD. Remaining balance = 990 USD.
- Withdrawal Fee: 2% of 990 = 19.80 USD.
- Total Fees: 29.80 USD.
- Final Amount: 970.20 USD equivalent in your local currency.
Tips to Minimize Payoneer Fees
To keep more of your hard-earned money, consider the following strategies:
• Use Payoneer to Payoneer transfers for contractors, as these are usually free.
• Withdraw larger amounts less frequently if your bank charges a flat incoming wire fee.
• Check if your marketplace (like Amazon or Upwork) has a preferred partnership rate.