Payoneer has introduced a new fee structure for users in Pakistan, effective immediately. The Payoneer fee update for Pakistan affects various transactions, including bank withdrawals, third-party transfers, and payments between Payoneer accounts. The changes are based on transaction size, destination, and currency type.
Under the Payoneer fee update for Pakistan, users withdrawing funds from their Payoneer balance to a bank account in a different currency—such as USD to EUR—will now face a 3% fee on the total transaction. The same 3% fee also applies to direct withdrawals in the same currency, such as USD to USD, if the recipient bank is outside Pakistan. Existing minimum withdrawal fees remain unchanged.
Sending money from a Payoneer balance to another individual’s bank account now incurs a 3% fee, whether or not a currency conversion occurs. This fee applies uniformly, irrespective of the recipient’s country or the transaction currency.
The Payoneer fee update for Pakistan also modifies internal transfers. Payments between Payoneer accounts in USD, EUR, or GBP will attract a 0.60% fee if the transfer amount is 500 units or higher. For amounts below 500 units, a flat fee of 3.00 in the respective currency applies. Domestic transactions within Pakistan for these currencies will also be charged a fixed 3.00 fee. For other currencies, the platform will show the applicable fee before payment confirmation.
Incoming payments now have updated fees based on both currency and the amount received. For instance, USD payments under $100 will incur a $1.00 fee, while amounts equal to or exceeding $100 will be charged 1% of the total. Similar fee structures apply to payments in GBP, EUR, CAD, AED, SGD, MXN, AUD, HKD, and JPY, with flat rates for smaller transactions and percentage-based charges for larger ones.
For transactions involving currency conversion, Payoneer’s standard conversion fees still apply. These charges are separate from the new fee updates and will continue to be automatically calculated during transactions.
Payoneer users in Pakistan—whether individuals, freelancers, or companies—are encouraged to regularly check the ‘Fees’ section in their Payoneer account to stay informed about applicable charges for their transaction types and currencies.
RELATED: Etsy Opens Doors to Pakistani Sellers with Payoneer Payments