Payoneer MasterCard is an internationally accepted prepaid debit MasterCard issued by Payoneer for seamless online payment solutions, fund transfers and ATM fund withdrawals.
Now many people are often excited to hear that this MasterCard is issued free of charge by Payoneer to individual who just applied for it through Payoneer platform or through Payoneer partners, but often forget the applicable maintenance fees that do come with the card.
It is one thing to apply for and get a Payoneer MasterCard for free and it is another thing to maintain the card at somewhat high cost and that many Payoneer MasterCard applicants are oblivious of.
It does not even matter whether you use the card or not for transactions as the moment you land the so-called free Payoneer MasterCard and activate it, there is already an outstanding fee waiting for you.
Now many people are often ignorant about these fees especially the Payoneer annual card maintenance fee, which will immediately put you in place of a debtor the moment you receive and activate the Payoneer MasterCard.
Little wonder people often cry foul when they receive fund in their Payoneer account for the first time and notice that the supposedly amount of fund received is in shortage.
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It is simply so because Payoneer will automatically deduct the card annual maintenance fee (which probably you are oblivious of) once your card is activated and you receive fund in your Payoneer account.
For those intending to get a Payoneer MasterCard, let’s now take a look at the real cost of having one and other charges that can easily be incurred;
· There is Payoneer MasterCard annual maintenance fee which is $29.95 and as we said, you will be billed for it immediately you receive and activate your Payoneer MasterCard and in addition receive fund that is up to that amount or more.
· You will be charged extra $3.15 dollar every time you withdraw fund with your Payoneer MasterCard from an ATM
· On the cause of ATM fund withdrawal with Payoneer MasterCard, if by any means, the transaction fails, you will be charged $1 for that; it is called ATM declining fee.
· For every ATM account balance inquiry, it attracts a fee of $1
· If you misplace your Payoneer MasterCard and request for replacement, it will cost you $12.95 for that
Those are the primary charges of obtaining and using the global Payoneer prepaid MasterCard.
After seeing those charges, we believe that if somebody still asks you whether Payoneer MasterCard is free, your response before would differ greatly than that of now.