Payoneer More Than Doubles Its Fees for Pakistani Users

Popular online money transfer platform Payoneer has significantly raised the transaction fee for sending or receiving payments in Pakistan, a move that could severely hurt business for local freelancers who rely on the service.

The transaction fee has been raised to 3% of the total transaction amount, plus an additional $0.49 fixed fee for all transactions based on USD, up from the previous 2%. As for non-USD transactions, the fixed fee will be charged based on the relevant transaction currency as follows: 0.39 GBP, 0.45 EUR, 0.75 AUD, 0.67 CAD, 73.76 JPY.

Note that this change applies to sending or receiving payments through debit/credit cards as well as payments received through the Request a Payment option or through the Initiate a Payment section using a debit or credit card.

However, the change to Payoneer’s fee system is not immediate as it is set to take place on October 20, 2024. Following the effective date, any applicable updated fee for eligible services will be reflected on the Fee page under account settings. Any existing fee applicable in addition to the fee mentioned above will remain unchanged.

Here is what Payoneer’s support center page says about the fee increase:

To ensure we can keep giving you the best service, we periodically review our fees as the market changes. While these adjustments are necessary, our commitment to empowering your business growth remains our top priority.