₦airaland Forum

DONSMITH123:

nne4:
When an employer have accepted to give the job, kindly tell him to create milestone during the chat. Do not accept any project without the employer creating milestone otherwise FL will charge you o

ladyF:
Time will tell...

The scars from their feud must've really been deep

It's [size=20pt]LadyF[/size] again

coderXO:
And I am stating very clearly that the variation in rates been posted is wrong.
Absolutely impossible that you got charged 138 anytime since January this year.
Unless as I said, you did not withdraw the maximum.
Let's do this, when you are stating whatever rates, state how much you withdrew at the bank.
This whole year through, at any bank withdrawing N20,000 has ranged between $103 - $113 reflected on my statement which is equivalent N194 - N176
If you went and withdrew N5,000 or N7,000 is the only way you would get a crappy rate like N138 (because of the $3 flat charge ).
Anyway, I've made my point: Make sure you try your best to always withdraw the max (N20,000), else you get a poor "effective" exchange rate.

coderXO:
Some people don't know what they are talking about.

This is false information.

None of these banks set the rate.

It is set by mastercard, period.


The rule of thumb with your "Freelancer" Payoneer card is withdraw the max each time ( 20,000 ) or else you will shoot yourself in the foot.

The card charges $3.00 per withdrawal and exchanges at 3% less the official exchange rate.

If you went and withdrew N5,000 you effectively reduced the final exchange rate as opposed to the rate you'd get for N20,000.

$3 on N5,000 is a 12% reduced "effective" currency rate.

$3 on N20,000 is a 3% reduced "effective" currency rate.

End of.

coderXO:
I've been on freelancer 10 years. I'll tell you about fallacies.

A mastercard or visa is exchange rate is regulated by the company issuer, not the bank.

You can't have a one bank card charging whatever it wants. What stops them from changing 100 versus 200 versus vs 50 vs 1 vs 3?

The 5000+ banks throughout the world the issuing visa/mc are each setting the exchange rates individually as they chose?

What is GTB exchange rate for when you use you naira mastercard in India or Pakistan or Myanmar or Ghana or Korea or Thailand or etc etc.

They have set the exchange rates for these too from Naira to Riyals to Cedis to USD to Rupees to Baht to Ruble?
What you are saying and what applies live for transactions is clearly different. i indicated what i experienced you are still talking theories here. those figures i quoted are for different banks and estimated payout for each bank. you think the banks dont make a commission on the transactions too? the banks cut is independently set. anyways those figures were to guide the people here who might have a challenge choosing which bank ATM to use for their withdrawals. you can try dropping some tips on how to get the best rates too, will be greatly appreciated.

Come on now folk. Use your medula.

twosquare:
Are you serious or you are joking? 138 ke....haba....which kain country be dis. Abeg...it is not about discussing bids....can someone on this thread give names of bank with good exchange rates in terms of withdrawing from payoneer, so that we won't be shortchanged? Anyone?

twosquare:
These Banks, dem be original 419.....gurus in the house, which Bank has the best exchange rate at the moment.....contribution is needed.

Godmother:
Hmmm, don't mind me o, but I have checked everywhere. The only notification I saw was "End Project early"