Payoneer is one of the leading international online money transfer service. It is in India performing these operations.Today we will give you Payoneer India review
A great alternative to Paypal. Using Payoneer enables you to receive payments from abroad with low transaction fees as compared to Paypal. Check below a screenshot of Payoneer pricing and fees. It is free in most of the services.
Payoneer Pricing and Fees
Payoneer Vs Paypal
Using Payoneer enables you lot of savings on Forex and transactions fees.
I will explain you the difference between Paypal and Payoneer via this example. Below is a screenshot of payment received using Paypal
The dollar rate as 17 March 2015 was Rs 62.6922 per 1 USD. I had received the payment at a rate of Rs 60.6255. That is 3.20 % currency conversion charges. I had finally received Rs 8184.44 in my bank
Had I used Payoneer I would have paid 2% currency conversion charges and would have received Rs 8294.17 for the same transaction. A net saving of Rs 110. Payoneer saves 1.2% compared to Paypal.
How Payoneer works ?
To use Payoneer you need to sign up, It is easy to sign up by a simple form provided by Payoneer. All you need to do is provide your name, address & bank details at the sign up. In 24 hours your application is accepted. Once your approved you can start using for USA & European Union Services. Every time you receive payments from these services, the payment is credited in your payoneer account. Then Payoneer directly deposits this amount in your local India account on daily basis.
Use Payoneer to receive payments from USA via ACH and EU via SEPA. Other way is to receive payments from companies which tied with Payoneer. All you need to do is select the payoneer as the payment option. I am listing few companies that have tied.
- Commission Junction
- Depositphotos Inc.
- Elance escrow corporation
- Envato Studio
- GoDaddy.com, LLC
- Infolinks, Inc
- All companies in merchant whitelist
Added Bonus $25 For Sign Up
There are 2 more great reasons to sign up with Payoneer. This will make you smile and cheer up further
- After sign up, when you receive payment of $ 100 with Payoneer you will get $25 bonus.
- You will receive $25 when you referral receives a payment of $100. The referred person is someone who signs up using your payoneer affiliate link.
The $25 reward is part of Payoneer promotion.
Limits of Payoneer In India
- The maximum amount per single transaction in India is Rs 5,00,000.
- The maximum amount transferred in your bank per day is Rs 5,00,000.
- Maximum amount transactions per month is Rs 25,00,000
I hope these are enough reasons for you to sign for Payoneer.