Sharing my experience with Payoneer, do you face it too?
Had to withdraw Rs.70,000 ($700) from Bank Alfalah ATM in Pakistan. Did 4 transactions that cost me about $40 from Payoneer ($3 on card load + $3 per transaction + low exchange rates) and some bank charges per transaction as well - so basically I had to pay $40+ which is A LOT and that is the usual case with Payoneer.
This limit of Rs.20,000 ($200) withdrawal from ATM is hurting a lot because to get Rs. 70,000 I had to do 4 transactions and I keep losing good bucks on it because Payoneer charges per withdrawal from ATM. Not so safe to stay inside an ATM for so long. (: It un-necessary budges other people and there is a huge security risk.
While LBT (Local Bank Transfer) will be great. Payoneer has launched it’s LBT but it is no where near what LBT is. I wonder if there is another solution or service since no PayPal here in Pakistan?
Plus, Payoneer has $30 yearly activation charges and kills the leisure as we have to travel to ATM every time to withdraw funds.