Islamabad, May 3, 2025: Payoneer has introduced a new fee structure for users in Pakistan, making transactions more expensive than before.
These updates affect various services, including bank withdrawals, third-party transfers, and Payoneer-to-Payoneer payments.
Whether you’re a freelancer or a business, it’s crucial to understand how these changes will impact your wallet.
Updated Withdrawal Fees
Starting now, if you’re withdrawing funds to a bank account in a different currency, such as transferring USD to EUR, you’ll face a 3% fee on the transaction amount.
This rate also applies to non-local currency withdrawals, like sending USD to USD, when the bank is outside Pakistan.
However, the minimum withdrawal fees will remain the same, so if you usually withdraw small amounts, the impact may be less significant.
Bank Account Transfers Now Cost More
For those sending money from Payoneer to another person’s bank account, there’s a new 3% fee on all transfers, whether they involve currency conversion or not.
This applies regardless of the currency and destination country, making international transfers more costly.
Payoneer-to-Payoneer Payments No Longer Free
Gone are the days of free transfers between Payoneer accounts.
Now, payments of 500 USD, EUR, or GBP or more will incur a 0.60% fee.
For smaller payments under this threshold, a fixed charge of 3.00 in the respective currency will be applied. Domestic transactions in these currencies will also carry a 3.00 fee.
New Receiving Fees
Payoneer has also updated its receiving fees. If you’re receiving payments in USD below $100, a flat fee of $1.00 will be charged.
For payments of $100 or more, the fee will be 1% of the total amount.
This structure applies to several other currencies, including GBP, EUR, and JPY, with similar flat fees for smaller amounts and percentage-based fees for larger ones.
What You Need to Do
If you use Payoneer regularly, it’s essential to familiarize yourself with these new fees. Make sure to visit the ‘Fee’ section of your Payoneer account to get a breakdown of charges based on your typical transaction habits.
This update affects individuals, freelancers, and businesses, so understanding the full scope of these changes will help you manage your costs more effectively.
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With these new fees, Payoneer is making it clear that international transactions won’t come cheap for Pakistani users.
Whether you’re withdrawing funds, transferring money, or receiving payments, it’s important to plan ahead and factor these extra costs into your budget.
Stay informed and adjust your strategies to avoid surprises in your future transactions!
