Payoneer is a leading player in the prepaid debit card market which is largely used by freelancers to easily avail their payments. It helps you to easily transact with customers and clients online as payments have been made easier. It is a New York based company that is powered by MasterCard. In this article Payoneer MasterCard – pros and cons will help readers weigh the advantages and disadvantages of Payoneer.
1: No Account Needed:
The best pro in Payoneer MasterCard – pros and cons is that it does not require you to hold a bank account. You can use this card in any ATM to access your funds within 2 hours. You no longer have to worry about steep bank charges.
The second on the list of Payoneer MasterCard – pros and cons it is known to be the fastest mode to avail your earnings. It is much faster than PayPal or any other such service.
The third on the list of Payoneer MasterCard – pros and cons is that it’s the cheapest option available. Although opening a Payoneer account is free, it does charge minimal administrative costs to maintain your account. It is far better than what the regular banks charge. In addition you can check your transactions and balance online and also avail support online.
The fourth pro on the list of Payoneer MasterCard – pros and cons is that it’s as secure as your transactions using your bank account like that of PayPal.
Though there are not many cons, it is worthwhile to mention the couple of those that have come up before you consider opening an account with Payoneer
1: Forex Rates:
The first con on Payoneer MasterCard – pros and cons is that the Forex rates that are followed by Payoneer are lower than the global rates, unlike PayPal. Hence you might lose out on some money when transacting with people using another currency.
The second con to be mentioned on Payoneer MasterCard – pros and cons is with regard to their customer support. Their customer support is not as great, speedy or responsive as that of PayPal.
3: Private Payments:
The last con to be mentioned on Payoneer MasterCard – pros and cons is with regard to the cap on private payments. Payoneer does not allow you to make high private payments with the maximum of USD 1000 and also there is no way to raise such an amount for requesting payment.
With this, you can choose to opt for a Payoneer card knowing of both the advantages and disadvantages. The verdict clearly is that, there is much more to be gained than lost by using Payoneer.