Freelancers Face Higher Fees from Payoneer
Payoneer has announced a big increase in transaction fees for payments in Pakistan. This could hurt freelancers who rely on the service.
The fee is now 3% of the total amount, plus $0.49 for USD transactions, up from 2%. Non-USD transactions will have fixed fees: 0.39 GBP, 0.45 EUR, 0.75 AUD, 0.67 CAD, or 73.76 JPY.
Payoneer’s support centre page also outlines details regarding the upcoming fee increase.
Problems on Pakistani Freelancers
The fee increase has received mixed feedback from Payoneer users in Pakistan. Payoneer is a handy way to get paid overseas, but small firms and freelancers will make less money with the additional costs.
Some users are worried about how this will affect their income, especially those who mainly use Payoneer for payments. However, Payoneer still provides better rates compared to regular banks for sending money across borders.
Alternatives for Pakistani Users
Despite the fee increase, Payoneer remains a popular choice for Pakistani freelancers and businesses. However, Users can use alternative payment methods that offer lower fees or more favourable exchange rates. Some alternatives include:
- Local Pakistani banks
- Online payment gateways
- Cryptocurrency exchanges
Conclusion
Payoneer’s fee increase for Pakistani users is a big changes. It will affect freelancers and small businesses and Agency’s . While Payoneer is still reliable, users may consider other options or discuss better rates with clients to reduce the impact.