I recently got the Fiverr Card to be able to withdraw my funds. Only to discover what a disappointment it is. First, the card is issued by a banking corporation in Belize, a well known off-shore tax haven. Is Fiverr & Payoneer listed in the Paradise Papers?
Secondly, being an off-shore bank, they did not connect the MasterCards to 3D secure, which in turn leads to the majority of shopping sites to deny this card. It’s up to the shop owner to decide wether they want to accept an un-safe mastercard.
Third, I have have found a serious amount of non-3D-secure MasterCards from Payoneer on Darknet and various websites, all offering these stolen card numbers for sale. Since Fiverr card does not have the 3D-Secure it’s easy for anyone to just use your card online and steal all your funds, all without even breaking a sweat. IE. Your funds are not safe at all with Payoneer.
Then, on top of all these things, both Fiverr and Payoneer charges hefty fees and set exhchange rates in their own favor. These Fiverr cards are nothing but a income stream for these two companies, and they hide these funds in Belize. Hide from what you say? There’s a reason why companies use these off-shore banks.
And according to the terms, they can close your account on a wim’s notice, pretty much.
Ultimately it’s your choice, but you have been warned.
EDIT: I proceeded to try and cash out through an ATM, but no. There is a limit on how mych you can withdraw per day. And they have a overpriced exchange rate, and a withdrawal fee on top of it.
The maximum I could get was 250 USD, with a 4% markup on the bad exchange rate plus the 3.15 USD fee, and 3 x 1 USD fee for denied transaction as well, because I could not withdraw more than 250 USD in any 1 time transaction.
So in total I paid 6.15 USD in fees to Fiverr and 12 USD in other fees to get my 250 USD, a total of 18.15 USD or 7,26%.I will move my funds and take the cost of it, no one on Fiverr cares, nor does anyone else for that matter.
But moving 1000 USD costs me about 100 USD or more in total. Not calculating the time it takes to sit here and wait for the timer to run out, so I can continue securing my hard earned dollars.
I’ve noticed that you can add the card to PayPal, but Paypal also have a hefty fee table (3,4% plus fixed fee). For EU citizens, there is Skrill, they charge 2,25% Upload fee. (2,25 USD on every 100 USD). And they have a 3D Secure enabled MasterCard, like a real bank.
Only Payoneer or MasterCard is setting their own exchange rates, which is 7-12% below official market rate. For every 1000 USD transferred, you can rest assure they will take about 70-120 USD from that, on top of fees.
Conclusion: Fiverr Card is a very expensive and unsafe service. If you value your money, stay away.