Payoneer, a popular financial platform among freelancers and remote workers in Pakistan, has quietly introduced a 3% withdrawal fee, drawing widespread concern across the country’s growing digital economy.
The new fee structure, effective this week, impacts thousands of freelancers, agencies, and small businesses that use Payoneer to receive and withdraw payments in foreign currencies like USD, GBP, and EUR.
🚨 What’s Changed?
🏦 Withdrawal Fees
- 3% flat fee on withdrawals to non-local currency accounts (e.g., USD, EUR, GBP)
- Previously: Some withdrawals were free or charged lower rates
- Now: Applies uniformly across all currencies
🔁 Internal Transfers
- Transfers over 500 units (USD/EUR/GBP): 0.60% fee
- Transfers under 500 units: Flat fee of 3.00 in respective currency
📥 Receiving Payments
- Under $100: $1 flat fee
- Over $100: 1% of transaction
- Applies across major currencies including GBP, EUR, CAD, AED, AUD
These charges are in addition to existing currency conversion fees, not inclusive of them.
🇵🇰 Why Pakistani Freelancers Are Concerned
Pakistan’s digital workforce has expanded rapidly, with thousands of professionals depending on Payoneer for freelance earnings, IT exports, and remote work transactions. These new fees significantly cut into margins—particularly for micro and solo entrepreneurs working with small clients.
Freelancers have taken to online forums to express frustration, especially over:
- Lack of advance notice or transparency
- Cumulative effect of multiple transaction fees
- Impact during a time of economic instability and currency depreciation
📌 What Should You Do?
- Review your Payoneer “Fees” page for personalized details
- Reassess transaction frequency to reduce costs (e.g., withdraw larger sums less often)
- Explore alternatives: Wise (formerly TransferWise), Revolut (if available), or direct bank transfers via SWIFT
📢 No Official Statement Yet
As of now, Payoneer has not issued a formal statement explaining the decision or addressing user concerns in Pakistan. The lack of communication has added to the growing discontent among freelancers and online entrepreneurs.
🧠 Final Thoughts
The new fee structure may push many Pakistani users to seek more transparent and cost-effective alternatives. In the meantime, Payoneer users should plan financial activities more strategically to minimize charges.
