I'm interested in using a Payoneer card for withdrawing from freelancing websites. Before I apply for one, there are some items still unclear:
1. The currency used on the freelancing sites is USD and my local one is RON (Romanian New Leu). Until now my preferred withdrawal method was 'local transfer', but I realized I'm losing money from the double conversion:
- USD>EUR (conversion made by the freelancing site at its own rate)
- EUR>RON (conversion made by the local bank at its own rate)
If I start using the Payoneer card, my understanding is that one conversion will be eliminated, thus having:
- USD>USD (freelancing site to Payoneer card, no conversion necessary)
- USD>RON (Payoneer to local ATM). The fee is $3+3%, but who gets to set the rate, the local bank or Mastercard?
Also, I might not withdraw too often from ATMs, is there a possibility to transfer money from Payoneer to a local account (in RON)? If yes, then what are the fees and is this a USD>RON conversion?
2. I understand that the card is issued in Belize, so chances are all transaction made are considered foreign and cross-border, does this mean that commonly know free transactions such as POS and online purchases are subject of "charges of up to 3%" from Mastercard?
3. Is it possible for 'pricing and fees' to vary much depending on which of your partners I chose to get the card from? Compared the fees on the Payoneer website, I found some that are higher, but also some that are significantly lower.
I think that's it for now. Thank you for taking the time to answer.