Payoneer MasterCard is a physical Prepaid MasterCard that can be used at your local ATMs, online stores and virtually anywhere where MasterCard is accepted. A Payoneer MasterCard can be attached with any currency in your Payoneer Account and you can use it to pay in that currency.

What are the benefits of having a Payoneer MasterCard?

One of the major benefits of having a Payoneer MasterCard is online shopping and payments. Mostly Payoneer users are freelancers and work online. Their money comes directly to their Payoneer accounts and thus available to be used by the attached Payoneer MasterCard at any time.

While, working as a freelancer, most people rely on paid tools and services to manage their clients, payments, invoicing, websites, etc. Having a Prepaid MasterCard attached to the account that you use to receive your payments can be very useful in this case. You can pay directly using the card and the payment will be deducted from your account automatically.

The other benefit, in my opinion, is withdrawal at ATMs. When you transfer your money from Payoneer directly to your bank account, it can take a couple of days to become available in your account. In some cases, it can take weeks. Or even months 😱While at an ATM, you can withdraw money using Payoneer MasterCard, directly from your Payoneer Account in a moment!

So, if you are someone like me who doesn’t like to wait for client money. Payoneer MasterCard is the best option to get your hands on that cash to buy that new RGB mouse you’ve been waiting for! 🤑

What are the fees associated with Payoneer MasterCard?

You can order and activate a Payoneer MasterCard for free.

But that’s not all. In order to be able to order a Payoneer MasterCard, you have to have at least $30 or more in your account. Payoneer charges a flat fee of $29.95 per year per card that you have attached to your account.

Transactions made via the card also have an additional fee of $3.15 (varies as per currency the card is associated with).

ATM declines and balance inquiries also have an additional fee of $1.00 per request.

Payoneer MasterCard Fees

On top of that, local ATMs do charge an extra fee for withdrawing cash using Payoneer MasterCard. Anddd, if you are withdrawing in a currency that’s not as same as the card’s currency, you’ll have to pay for currency exchange as well. Currency exchange rates can be confirmed by your local bank or you can check online. Payoneer also charges a rate of 3.15% of the transaction when withdrawing in a different currency.

The screenshot attached above of ATM fees is taken directly from my account. Payoneer does not provide this information publically for some reason, so it might as well be true that this rate varies account by account. You might be getting a better rate when making an ATM withdrawal than me 🙄

To view the fees and rates that apply to your account, log in to your Payoneer account and go to Help >> Pricing & Fees to see the exact rates.

If any of the above-mentioned rates are different than what you are getting, or if you have some comments about the Payoneer MasterCard or Payoneer in general, please leave a comment down below.

For a better, one-to-one discussion and getting involved in the local Payoneer community, join my Facebook group: Payoneer Pakistan.

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1 year ago

Hey! Thanks for this brief. I have on query.
For now I have GPB EUR and USD accounts. I ordered Virtual CARD for USD, can I order PHYSICAL CARD for USD too?