- Business and Employment
Killer Introduction to Payoneer Card, It's Services With $25 Bonus
What about a Free Internationally accepted debit card?
Payoneer is just like the world popular PayPal and is the Next BIGGEST rival of the PayPal Online Payment Processor. Payoneer is the company which gives you this great opportunity to get a Free Payoneer Card. I know you like Free things, same here too. This will be an Ultimate Guide for Payoneer and its awesome services such as US Payment Service with few strategies to minimize card fees. So ready to consume Payoneer Card today..! And now here we keep the first finger to the story..!
What is Payoneer
Don't you know about Payoneer yet? Here's a detail guide for you
As I said in the beginning of this lense, Payoneer is just like PayPal. Because both are Online Payment Processors. PayPal started to become the king of Online Payment Processing many number of years ago and there are few rivals such as LibertyReserve, MoneyBookers, Payza(AlertPay) etc. But those other Online Payment Processors don't have much respect with most of the Online Businesses, Money Making Programs. So ultimately PayPal becomes the only way to deal with those programs & businesses.
But, in 2005 Payoneer started their journey of capturing Online Payment Processing with their services and now Payoneer is a Big rival of PayPal and the best competition to PayPal. Let me clear this. There are services, businesses and money making programs or let's say online stores, which doesn't support or which doesn't accept Payza & MoneyBookers. However many of those accepts Payoneer same as PayPal. For example, If you see Adf.ly which is a Link Shortening Service, do use PayPal, Payoneer, LR but doesn't Payza & MoneyBookers.
And if you could do a research on this, you would find a great list which doesn't accept LibertyReserve, MoneyBookers & Payza, And a huge list which accepts both PayPal & Payoneer.
Okay, now you know the status of Payoneer with PayPal. Now I'll tell you more about Inside Payoneer. Payoneer started to provide their highly valuable service to worldwide since 2005. Today it's 2013 and Payoneer is now 8 years old trusted, powerful and valuable Online Payment Processor. It's 8 year survival will remove your doubts about the company itself. Because no any Online Payment Processing company can survive that much of days, that much of years without doing their part correctly, legally and accurately.
Payoneer is designed to make the Global Payments easy and safely manner. So it doesn't matter where you're, what's your position to get Payoneer Service, the matter is only your decision to get their service. I can say Payoneer is a worldwide high class service since it offer their services to 210+ countries in the world. So your country also may be included in this list.
If you knew about Payoneer a little, you might think Payoneer is for Internet Marketers, But it's not true, because Payoneer is not limited to Internet Marketers, but they include Internet Marketers in their service list. So If you didn't try Payoneer for the above reason, here's a few list of positions, occupations who use Payoneer to get their payments.
- Selling Agents.
- Abroad Students.
- Temporary Foreign Workers, Freelancers.
- and so on.
If you're touching the money, you pass the test to use Payoneer Services. There are many advantages of Payoneer Services, I'll tell you them in coming topics of this lens.
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Highly Useful List of Payoneer Services - Choose the right shot for your success
Even Payoneer looks similar to PayPal in the Online Payment Processing face, Payoneer is much more than world popular PayPal. There are handful of services which are provided exclusively by Payoneer Company to its users or consumers.
Payoneer is very popular for its MasterCardÂ® Debit Card. But Payoneer is not limited to Payoneer MasterCardÂ® and offer unbeatable services list to make it easier for you to use your money anywhere in the world, withdraw your money anywhere in the world.
Payoneer offers following services right now for its users,
1. Payoneer PrePaid MasterCardÂ® Debit Card.
2. Virtual PrePaid MasterCardÂ® Debit Card.
3. Global Bank Transfer.
4. US Bank Account..
So let's talk about each one in more detail, So you can see the potential and the power of Payoneer Services.
1. Payoneer PrePaid MasterCardÂ® Debit Card
From here I'll call this Payoneer Card or Payoneer MasterCard, because long names makes me silly!!! Okay, This service is the most popular across the world and you may also have heard about this at least once.
Anyway, the best service of Payoneer is its Payoneer Card. All Payoneer services are free to apply and small fee will be cut when you transfer, withdraw money. There are 2 types of Cards,
1. Debit Cards.
2. Credit Cards.
Debit Cards are the cards which have the money you load, the money you earn and they are your money while the Credit cards are having the money which is not owned by you, but the Bank gives you as a loan as a credit. And out of these 2 types, Payoneer Card is a Debit Card, So we can call Payoneer Card as Payoneer Debit Card too.!
There are 2 types of cards and there are few card providers too such as,
So out of above ones, MasterCardÂ® Cards are the Best one and the best rival of Visa Cards. And you know what, Payoneer Card also licensed by MasterCardÂ®, So we can call this Payoneer card as Payoneer MasterCardÂ® Card. Now you might think, this Payoneer Card has so many names..! ;)
Once you apply & approved for the Payoneer Card, you'll be shipped your Payoneer Card in an AirMail within 15-24 days, Great thing is the Payoneer Card arrives to your doorstep 1 week before the date they mention. Payoneer Card is a physical card and comes with a letter of instructions & details.
2. Virtual PrePaid MasterCardÂ® Debit Card.
This Payoneer Card is also same as the above one, But the only difference is this is not a Physical Payoneer MasterCard Debit Card which means you don't get any Physical Card shipped to your doorstep and all the details will be emailed to your instantly upon approval.
So you don't have to wait 15-24 days to get the card, But you have nothing to show or nothing to lose or cannot used in Local Stores since this is not a physical Payoneer Card. Few Benefits of this Virtual Payoneer Card are,
1. Use Instantly.
2. No waiting time.
3. No Bank Account Required.
4. Card cannot be stolen or lose.
While the disadvantages of Virtual Payoneer Card are,
1. You cannot use it Offline.
2. Nothing to show as a MasterCard.
3. Limited to Online Shopping.
4. You cannot withdraw money from ATMs.
If you use your money to Online Shopping, then this the Virtual Card suitable for you.
3. Global Bank Transfer.
This is another great service of Payoneer, Once you approved for this and setup the necessary things, you can receive Local & Wire Transfers directly to your Bank account safely.
I never used this service, even my friends used this one. Payoneer Global Bank Transfer service is available for 200 countries in 40 major currencies. Global Bank Transfer process charges rates starting from $2.99 and this rate is varying according to the Paying Partner, Country & Bank you transfer your money.
Benefits of the Global Bank Transfer Service,
1. Cost-effective: Reduce costs by taking advantage of our global banking network.
2. Fast: Funds transferred in as little as 1-3 business days.
3. Secure: Backed by Payoneer's industry-leading security and safety standards.
4. Easy access and management: One time set up of account details.
5. No monthly fees or maintenance charges.
4. Payoneer US Payment Service
Great service after the Payoneer Card and I use this service to receive my funds from PayPal to Payoneer. US Payment service is a service which gives you an opportunity to get a virtual US Bank Account even if you're outside US. Same as all other services of Payoneer, US Payment Service is also Free to apply for anyone.
When you apply for US Payment Service, they'll ask for an Identification Document such as your National ID, Passport, Driver's License. You need to send scanned copy or camera taken photo to Payoneer once they requested it.
When US Payment is enabled, your US Bank Account is enabled and you could receive ACH/Direct Deposits to your newly created US Bank Account without any problem even if you're living outside of US. All the funds which get deposit in your US Bank Account is added to your Payoneer Card and you can withdraw or use them in Online Shopping.
Remember, you cannot apply for US Payment Service if you don't have a Payoneer Card yet, So you need to have the Payoneer Card first and then the US Payment Service. Another thing I forgot to mention is, in order to own a Payoneer Card you should be over 18 years. But you can take this Payoneer Card for the name of your Mother, Father, Elder Brother or Sister.
Out of 4, What's suitable for you
Which Payoneer service you're going to use?
My Personal Experience With This Card - See the proofs for what I mentioned earlier!
My 1st ATM Withdrawal using Payoneer Card
Okay, Did you enjoy the screenshots of my usage statistics and other letters of proof? I hope so. If you had a little doubt about this, now it may have gone forever! Actually I started to use Payoneer since last year and it is a great pleasure to use their services such as Payoneer card and US Payment Service.
I'm using card to withdraw all my earnings from sites like Fiverr, MicroLancer, oDesk while US bank account is used by PayPal, Amazon and similar US companies. This is the easiest and most supported way to withdraw all your earnings through Internet. I'm saying this because, I'm already using this service.
Once you've been approved to Payoneer, you'll receive the letter in the 1st picture within 12-24 days. I received my card before 1 week what they stated in their approval email. New applications get the chance of applying to US Payment service which gives you the virtual US bank account, but I had to apply it separately.
Once you approved for US Payment service, you need to send your National Identity Card(ID) scanned copy or Driver's License copy or Passport copy. They use these information to prevent frauds and your information will be safe.
You can see ACH Corporate payments in the above screenshot of Payoneer statistics. Those are the funds I withdrawn from PayPal using the US bank account. I withdraw all my PayPal funds to Payoneer, so I can withdraw all the money without going to bank by using the nearest ATM.
You can see my 1st ATM withdrawal of Payoneer balance in the last screenshot. Simply, you can withdraw your balance using any ATM which accepts MasterCard cards. In addition that, you can pay to local stores which accepts those cards again. Want to read few surefire strategies to minimize Payoneer card fees? See the next section.
Minimize Card Usage Fees
Save few pennies with a strategy
As I said earlier many people say Payoneer fees are high, but they don't know that they are wrong at all. Simply, everything has a 50% of good and another 50% of bad. If you can use this service according to an effective strategy.
You don't get lost in the fees. So I'm going to reveal you my crazy strategy to minimize your card fees to a great extent.
1. You need to activate your card once you received it. Remember you can apply for this card for free and you receive the card at no shipping cost. Therefore don't think the card activation fee is high.
This activation fee is just a one-time fee and you won't be charged again for that.
2. Every time you load your card a fee of $1 or $5 is deducted from the amount you load. Here $1 is for all the Standard Loads which gets deposited to your account within 2 Business Days.
While the $5 is for all Immediate Loads where you can receive the funds under 10minutes of your request. Every time you're not in a hurry of money, you need to take the standard loading option, since it saves you a lot of money.
3. Suppose you earn at least $12,000 per year online. Then we can say one month average as $1000. And you want to withdraw all your money using Payoneer too. At this instance you don't need to withdraw little amounts such as $250, $350 etc.
Because, if you do, you need to pay the standard loading fee or immediate loading fee 4times per month. See the quick maths below.
$2 standard loading fee for 1 month $1 x 4 = $4
Monthly revenue = $1000
Monthly Profit $1000 - $4 = $996
$5 Immediate loading fee for 1 month $5 x 4 = $20
Monthly revenue = $1000
Monthly Profit $1000 - $20 = $980
I guess you got the point! Above fees are applicable only if you withdraw 4 times per month. But what will happen if you withdraw just once per month? How much would you save?
If you do the maths again, you would have $999 to withdraw. What about the yearly withdrawl amount. Yeah it will be $11,988!
Follow this strategy to save in dollars not just pennies. ;)
4. There are couples of fees available for Payoneer cards as optional fees which means, they are deducted only if you keep some money in the account. Below are some of them,
- Monthly card account maintenance $3 & $1
- Annual card account maintenance $29.95
Again, all those 3 fees are deducted only if you have any funds in your account. So why you need to keep your funds always in the account? Withdraw all of them and put them in your bank account. Then you'll not charge those 3 fees at all.
5. Don't take your card using a Partner program such as Fiverr, oDesk, ShareCash, Clickbank etc. since all those partner program cards have different fees and they have lot of fees.
But when you get your Payoneer card using a direct link to their site, it will not have lots of fees.
Another reason that you need to take direct card using this lens link, because you get $25 bonus and it means your activation fee is free plus you get few cents as a bonus. ;)