Payoneer jumps into domain name escrow business

[SpareDomains]

Global payments company begins catering to the domain name industry.

Global payments company Payoneer is getting into the domain name escrow business with the help of former Escrow.com president Brandon Abbey.

Read more...

http://www.payoneerescrow.com/

http://domainnamewire.com/2016/09/12/payoneer-jumps-domain-name-escrow-business/

 

[Abdillahi Abdillahi]

I have been using payoneer for the past four years and had received a lot monwy through them. I like their card though banks do charge here 4% . Before 3-4 months I applied for their escrow...Armoured Payments was the name I think and I went throught some questions and other checks and they accepted me. It is really great .

Their email support takes time but they do provide 24/7 phone support and also more than 8 hours live chat so I think there are no worries.

They will be real player indeed. They also offer free bank transfer to many countries so that is another feature that will help a lot. Paypal is just wellknown for bwing the first starter but I even see Skrill being better than Paypal.

 

[Jurgen Wolf]

https://escrow.payoneer.com/escrow/escrow-payments-faq

I don't see "free bank transfer"...
Payments to Sellers or refunds to Buyers requiring an international wire will be charged an additional $45.

Regarding their MasterCard...
It costs ~$30 (yearly fee) + high commissions when using ATMs + limits...

 

[Jayseen]

Thank goodness! Payoneer just keeps getting better!

 

[Abdillahi Abdillahi]

https://escrow.payoneer.com/escrow/escrow-payments-faq

I don't see "free bank transfer"...
Payments to Sellers or refunds to Buyers requiring an international wire will be charged an additional $45.

Regarding their MasterCard...
It costs ~$30 (yearly fee) + high commissions when using ATMs + limits...

Many users dont see alot of things in payoneer and I guess it is because of account type or history. They do provide free bank transfer in many countries

https://www.payoneer.com/products/local-bank-withdrawal/

Check there. The annual 30 is affordable and worths every penny. Payoneer charges only $3.15 per transaction when doing ATM withdrawal, the rest of costs are those of the ATM owner. I have used this service , ATM for the past four years and is even cheaper than getting money through Western Union.

 

[Jayseen]

https://escrow.payoneer.com/escrow/escrow-payments-faq

I don't see "free bank transfer"...
Payments to Sellers or refunds to Buyers requiring an international wire will be charged an additional $45.

Regarding their MasterCard...
It costs ~$30 (yearly fee) + high commissions when using ATMs + limits...

You sound a little too harsh on Payoneer(judging by your previous posts on this thread)...
Have you, by chance, had a bad experience with them?

 

[Jurgen Wolf]

Because I know Payoneer.
And I had their card.

And again: when using their Escrow-service they charge $45 for wire transfer.

 

[Abdillahi Abdillahi]

Because I know Payoneer.
And I had their card.

And again: when using their Escrow-service they charge $45 for wire transfer.

If that 45 is including the intermediary bank fees then they are not charging anything more than what banks are taking. I sell on NameJet and though Namejet doesnt charge other than their 15% comm, when they wire the money more me, intermediary banks take such fees to wire the money to my account.

 

[Jurgen Wolf]

With Sedo I lose no more than $20 when using Wire Transfer from their German bank to my Ukrainian bank.

But the most disappointing thing with Payoneer is that buyers can't pay for domains via PayPal.
All other Escrow-services accept PayPal.

 

[Abdillahi Abdillahi]

With Sedo I lose no more than $20 when using Wire Transfer from their German bank to my Ukrainian bank.

But the most disappointing thing with Payoneer is that buyers can't pay for domains via PayPal.
All other Escrow-services accept PayPal.

Paypal used to accept Payoneer bank accounts but they suddenly stopped when they realized (probably) that Payoneer is moving ahead too fast and becoming a genuine competitor. So maybe that is related? In time I think Payoneer Escrow might accept payments from Paypal but it will need some changes from Paypal too.

 

[Kate]

I know for a fact that Payoneer have noticed the frequent incoming payouts from Sedo and escrow.com.

 

[steitieh]

Paypal used to accept Payoneer bank accounts but they suddenly stopped when they realized (probably) that Payoneer is moving ahead too fast and becoming a genuine competitor. So maybe that is related? In time I think Payoneer Escrow might accept payments from Paypal but it will need some changes from Paypal too.

No They didn't stop - All my PayPal balances goes to my US Bank in Payoneer. In fact - sometimes we shouldn't discuss fees "especially when they're still lower than competition" because of Convenience! Payoneer appreciate loyal clients too - they assigned a dedicated account manager for me and their response time is sometimes in few minutes.

Their card is in my pocket all the time where I can withdraw about $2500 per day via ATMs or user any POS for $5000 purchases per days. That's better than many global ATM cards out there.

They do NOT charge 4% nor does banks - they charge a Fixed $3.5 per ATM withdrawal , Banks charge a fixed amount (NOT because of Payoneer - but because if you withdraw from a different bank than the one that issued your card in your country , they will STILL charge you)

I've NEVER been charged 4% by banks or Payoneer - been with them since they started.

And in case of Ukraine - my wife is from Ukraine and she says it's terrible dealing with PayPal in Ukraine - so if you have like $20K in PayPal funds - what's your solution? Payoneer solved this and gave you a debit card and they charge ONLY 1% to get the funds to your Payoneer account from PayPal.

In Short - Payoneer is a WONDERFUL company - I wish it all the best - and I hope to see it replace PayPal soon as it has all the potential to do so.

Kharasho?

-Rami

 

[alcy]

is there a fee for atm card for north americans? I read some activation fee somewhere.
any way to get signup bonuses for them? cheers.

p.s. paypal should take example from them and offer escrow too! that'd be nice.
sounds like payoneer is a nice alternative for people outside usa/canada.

 

[Abdillahi Abdillahi]

No They didn't stop - All my PayPal balances goes to my US Bank in Payoneer. In fact - sometimes we shouldn't discuss fees "especially when they're still lower than competition" because of Convenience! Payoneer appreciate loyal clients too - they assigned a dedicated account manager for me and their response time is sometimes in few minutes.

Their card is in my pocket all the time where I can withdraw about $2500 per day via ATMs or user any POS for $5000 purchases per days. That's better than many global ATM cards out there.

They do NOT charge 4% nor does banks - they charge a Fixed $3.5 per ATM withdrawal , Banks charge a fixed amount (NOT because of Payoneer - but because if you withdraw from a different bank than the one that issued your card in your country , they will STILL charge you)

I've NEVER been charged 4% by banks or Payoneer - been with them since they started.

And in case of Ukraine - my wife is from Ukraine and she says it's terrible dealing with PayPal in Ukraine - so if you have like $20K in PayPal funds - what's your solution? Payoneer solved this and gave you a debit card and they charge ONLY 1% to get the funds to your Payoneer account from PayPal.

In Short - Payoneer is a WONDERFUL company - I wish it all the best - and I hope to see it replace PayPal soon as it has all the potential to do so.

Kharasho?

-Rami

Great info Rami. Thanks, They told me they stopped using the bank accounts created by Payoneer through an email long long time ago. I read online that some countries tried to bypass Paypal requirements and added the US bank account and used US address then they suddenly had a US paypal that can send and receive money and they could withdraw to Payoneer too. This alerted paypal and they stopped it.

I live in Yemen and all banks in Yemen charge a massive 4% when I use the card but Payoneer is stable at 3.15 $ regardless of the amount you want to withdraw. They do mention that surcharge and other fees might be applied by banks on their fees page. Their ATM decline is $1 and also balance check .Even with that 4% , I still like them and find them to be very affordable .

You saying Paypal still accepts payoneer bank accounts?

 

[Abdillahi Abdillahi]

is there a fee for atm card for north americans? I read some activation fee somewhere.
any way to get signup bonuses for them? cheers.

p.s. paypal should take example from them and offer escrow too! that'd be nice.

You sign up and refer friends and once they receive and send 100 you receive 25 . I think that offer is still running.

 

[Jurgen Wolf]

PayPal is not necessary for me at all, but many endusers and domainers prefer PayPal...

Regarding cards...
MC or VISA by my bank is significantly cheaper to use than Payoneer...

 

[steitieh]

Great info Rami. Thanks, They told me they stopped using the bank accounts created by Payoneer through an email long long time ago. I read online that some countries tried to bypass Paypal requirements and added the US bank account and used US address then they suddenly had a US paypal that can send and receive money and they could withdraw to Payoneer too. This alerted paypal and they stopped it.

I live in Yemen and all banks in Yemen charge a massive 4% when I use the card but Payoneer is stable at 3.15 $ regardless of the amount you want to withdraw. They do mention that surcharge and other fees might be applied by banks on their fees page. Their ATM decline is $1 and also balance check .Even with that 4% , I still like them and find them to be very affordable .

You saying Paypal still accepts payoneer bank accounts?

Hey Abdullah - Anything online can be used or misused - ofcourse if you use it pretending you're an american and to verify an American account it will be totally rejected. Just like my PayPal's debit card (US Debit Card) was rejected by iTunes etc.

The bottom line is; Payoneer made my business SO MUCH easier and I do recommend them to anybody who has a presence online!

PayPal is not necessary for me at all, but many endusers and domainers prefer PayPal...

This makes it VERY necessary !! Why do we NEED PayPal ? because our BUYERS use it! so , it's VERY necessary for you unlike you say. and ONLY Payoneer solves your problem here! instead of paying the fees to escrow etc - you can take PayPal directly and take them to Payoneer. The higher the transaction - the lower your fees will end up being.

I am not arguing here - I am just talking about a massive experience in domaining + Escrow + Sedo + DN.COM + Payoneer + PayPal etc. and I live in a country "Jordan" that is NOT so fortunate with PayPal or Stripe for example (Just like Ukraine) - Who solves our problems? Payoneer.

It's also true that sedo used to wire my payment to my bank with ZERO $$$ in Jordan - not even $10 - But intermediate banks always charged what ends up being $40 or so.

The MOST convenient method of ALL the above (at least to me) is PAYONEER.

-Rami

 

[Jurgen Wolf]

How it solves when buyer strictly wants to pay via PayPal???
https://escrow.payoneer.com/segments/domainnames
PayPal is NOT supported.

 

[steitieh]

How it solves when buyer strictly wants to pay via PayPal???
https://escrow.payoneer.com/segments/domainnames
PayPal is NOT supported.

Not in Case of Escrow - when the payment is $1000 or less (at least in my experience - and sometimes up to $3000) people don't usually mind paying directly to your PayPal - No need for escrow at all - I know this takes us out of the scope of the "Escrow" part of Payoneer - but here it does solve our (at least MINE) problem to accept PayPal and have access to my funds very fast while PayPal would ONLY allow me to withdraw $500 a day and via a VISA Card.

Escrow.com would NOT take BIG payment via PayPal - Not even via Credit Card if you go big - you will need to send an ACH. and So is the case with Sedo. So PayPal is NOT ALWAYS an option even in the case of escrow.com or sedo.com !!! Getting my point?

 

[Jurgen Wolf]

I get...
But any direct PayPal-transactions, even on $500, - are dangerous due to their possible chargebacks and blocking of accounts... too many precedents... Direct PayPal is suitable just to receive the parking earnings, no more.

And regarding Ukraine...
PayPal works here in send-mode only, I can't receive it at all.

 

[steitieh]

I get...
But any direct PayPal-transactions, even on $500, - are dangerous due to their possible chargebacks and blocking of accounts... too many precedents... Direct PayPal is suitable just to receive the parking earnings, no more.

And regarding Ukraine...
PayPal works here in send-mode only, I can't receive it at all.

Ah - there you go - that's the problem my wife told me about probably - if you cannot receive PayPal payment then this option is out totally -

I know many people say PayPal is dangerous in domaining - I cannot deny because I cannot guarantee the opposite - but I will share my personal experience -

I am with PayPal since 2001 - I've been domaining since 1998 - Been using PayPal heavily since 2003+ - NEVER HAD ONE Charge Back - except once by a member here in NamePros THIS year and it was by mistake - he fixed it after talking to him.

I sold to end users I NEVER met - I sold to people from ALL countries - and never had an incident.

Disclaimer: that doesn't mean you can't get messed up - it's just my experience as I believe any business has a risk and I consider using PayPal and taking a chance is part of that risk.