Payoneer: wire transfer vs. prepaid card

[FedoraFan]

MFC no longer does international bank transfers to several countries, so m'lady was told to get a Payoneer card. I have a couple questions about this:

1) Does MFC pay out through Payoneer or First Choice Pay? Does it matter which one a payee signs up for?

2) Does the card have higher fees than the transfer method? I already know the prepaid card requires $25/year to keep it active.

3) Are there cancellation fees for the card or a Payoneer account in general?

Right now, it seems creating a Payoneer account for wire transfer seems like the best option, but it'd still be nice to know all the details.

Thank you for the help, fair denizens of ACF.

 

[melanieoncam]

Use FirstChoicePay's direct deposit. It's only a few dollars and goes directly to your bank. Wire transfer is expensive and only gets you the money 2 days sooner than direct deposit.

 

[IsabellaSnow]

I've never heard of the direct deposit, but the wire transfer costs $15 but there's no surcharge. I didn't like the card options and have used it before but didn't like it so I haven't gone back to using it.

 

[uncoveredmanhole]

Use FirstChoicePay's direct deposit. It's only a few dollars and goes directly to your bank. Wire transfer is expensive and only gets you the money 2 days sooner than direct deposit.

my receiving bank would charge an additional $15 for using that method.
does this not happen for international transfers in your country?

 

[melanieoncam]

my receiving bank would charge an additional $15 for using that method.
does this not happen for international transfers in your country?

I do get a cross-border fee if I use the card and have it loaded to there (so I have to pay 3% for sites that don't offer direct deposit) but I only get a $15 fee if I choose wire transfer. You have to choose Global Bank Transfer I think it's called and you have to give Firstchoice your banking information and request that it be done as direct deposit and not a wire transfer from what I remember.

I get a direct deposit through Firstchoice to my bank from Streamate every Tuesday and the fee is $1.50. I'm not positive but I think it's similar for other sites that offer direct deposit through them.

 

[Dan Epstein]

There are so many terms and mismatches here, do you mind if I'll help a little?

 

[Hereiam]

it is possible to have a EFT or direct deposit from my fcpay card amount to my bank account in Canada ? i didn't see anything any option about that in my fc acount

thank you

 

[Dan Epstein]

it is possible to have a EFT or direct deposit from my fcpay card amount to my bank account in Canada ? i didn't see anything any option about that in my fc acount

thank you

Hi, this is a good question. Our payment solution does not function like an e-wallet, and I will explain why. The aim is not to on board your funds online and store them there, until you send them with different applications, and many times with different fees. The prepaid card enables a fast and cost effective way to receive the payments within minutes to hours. This also means that no wires, or unexpected landing fees are involved. Let me know if that helps

 

[Petite-]

Hi I have a simple question: I've just activated my firstchoice card and is using it to receive fund from Streamate for the first time. I see Streamate has sent out the payment yesterday. What's the normal time for the fund to show on my card? I'm Canadian btw. @Dan Epstein Thanks!

 

[Dan Epstein]

Hi I have a simple question: I've just activated my firstchoice card and is using it to receive fund from Streamate for the first time. I see Streamate has sent out the payment yesterday. What's the normal time for the fund to show on my card? I'm Canadian btw. @Dan Epstein Thanks!

Hi, it should be loaded by now. Let me know if you require specific assistance.

 

[Emberblaze]

Hi I have a simple question: I've just activated my firstchoice card and is using it to receive fund from Streamate for the first time. I see Streamate has sent out the payment yesterday. What's the normal time for the fund to show on my card? I'm Canadian btw. @Dan Epstein Thanks!

SM payments always show up for me today. They are sent on Fridays and tend to show up at any point during the day. Usually mid day in my time zone.

It can be confusing because if you go to past payments on SM it shows the current pay as of Wednesday but it isn't actually given until Friday. I haven't recieved mine from SM so it's normal if you are being paid through them directly and not a studio that you haven't either.

When Firstchoice was still payoneer you would get an email your first payout asking if you want to pay 5 dollars for immediate load or wait a buisness day. I'm not sure if that's a practice Firstchoice kept. I haven't noticed if I've had a 5 dollar fee or not.

 

[Dan Epstein]

SM payments always show up for me today. They are sent on Fridays and tend to show up at any point during the day. Usually mid day in my time zone.

It can be confusing because if you go to past payments on SM it shows the current pay as of Wednesday but it isn't actually given until Friday. I haven't recieved mine from SM so it's normal if you are being paid through them directly and not a studio that you haven't either.

When Firstchoice was still payoneer you would get an email your first payout asking if you want to pay 5 dollars for immediate load or wait a buisness day. I'm not sure if that's a practice Firstchoice kept. I haven't noticed if I've had a 5 dollar fee or not.

That's a good point. I'll have this checked for you and update us here very soon

 

[Petite-]

The payment showed up on my card this morning! Thank you for the help!

 

[Kiki Jane]

Good to know this stuff! I was never able to set up Payoneer as a global bank transfer option through Streamate (Canadian here), but seemed like Firstchoice Pay would. Then, my money seemed to sit in Firstchoice Pay limbo for about 10 days after getting the email that the transfer went through... Not good. But I got an email this morning saying Firstchoice Pay doesn't do bank transfers to Canada, so I need to get a card. Good to know it's an efficient option.

@Dan Epstein can you please confirm that the card is my only option? (I'd rather a bank transfer, but we can't always get what we want). Thank you! Also, would I use the card by taking out the money at an ATM, then putting it into my chequing account? Sounds easy enough, I guess. Thanks!

EDIT: I checked the website and seems like the payments FCP tried to send by bank transfer were "cancelled and returned" and are no longer in my payment history. I hope I can still get that money on the card, Dan!!!

 

[Dan Epstein]

@Kiki Jane At the moment the card is the go to stable option. Please email me or contact me in here when you apply, so I can be 200% sure it goes seamless, thanks!