Hello,

I tried to sign up for a Payoneer account just minutes ago and the first page i landed on had two withdrawal opinions. I'm smart enough to know that the one I choose can affect the structure and functionality of the account I open. So instead of processioning with something i may regret i have come here to ask questions.

1. For someone living in Lagos with only a GTB saving account which withdrawal opinion is better?

2. One reason I don't like the bank account opinion is that I'm not sure if i can connect my GTB saving account to revive funds. Secondly, the issue of banks paying well short of the real exchange rates when converting to Naira is not acceptable to me. GTB is one of the worst at this.

Will opening a Domiciliary savings account be better? In what bank is such an account easy to open and maintain.


3. Does the card cost a lot to use?

My earning stands at between $100 and $200 a month. It will grow soon but i want to be careful with the little i have now.

I would appreciate any information that would help me make up my mind on the issue.


Thank you

Advice

They allow you use Dom acct. Its better.
The card cost $30 . yearly.

Don't worry if all you have is savings account.
Use their card. Its OK.
This is my opinion only

eliok:
They allow you use Dom acct. Its better.
The card cost $30 . yearly.

Don't worry if all you have is savings account.
Use their card. Its OK.
This is my opinion only

Later when I get a dorm account can I easily switch to bank withdrawal opinion?

Yes oo

eliok:
Yes oo

Just talked to a guy that buys payoneer funds and he say he takes it at 300 naira to the dollar. That's daylight robbery!!!

I hope using the card will get me better value at an ATM or does the value depend on the bank you go to?

E100000:


Just talked to a guy that buys payoneer funds and he say he takes it at 300 naira to the dollar. That's daylight robbery!!!

I hope using the card will get me better value at an ATM or does the value depend on the bank you go to?

Payoneer Card is the safest, and I'll advice you don't withdraw with our Local ATM, instead use the normal POS withdrawal. The minimum rate you will get is $340 (this include all charges; both Local and international) compared to using ATM.

Internetsavvy:


Payoneer Card is the safest, and I'll advice you don't withdraw with our Local ATM, instead use the normal POS withdrawal. The minimum rate you will get is $340 (this include all charges; both Local and international) compared to using ATM.

Thank you for this advice!

One last question, please. By "normal POS withdrawal" you mean a private POS business like the ones on our streets right? And not the ones they often use inside banking halls.

From what I can understand, you are telling me to try to avoid all ATMs and banks when using the payonner card.

E100000:


Just talked to a guy that buys payoneer funds and he say he takes it at 300 naira to the dollar. That's daylight robbery!!!

I hope using the card will get me better value at an ATM or does the value depend on the bank you go to?

i buy at 330-340 per usd depending on the quantity..

300 per usd is robbery.. reach out to me via my whatsapp link in my signature..

E100000:


Thank you for this advice!

One last question, please. By "normal POS withdrawal" you mean a private POS business like the ones on our streets right? And not the ones they often use inside banking halls.

From what I can understand, you are telling me to try to avoid all ATMs and banks when using the Payoneer card.

Yes, the street ones and preferably the one at petrol stations in case you want to withdraw a large amount.

I'm not saying you should avoid all ATMs but I find it comfortable and cheap to use POS service(Zenith Bank) compared to ATMs.

For the below screenshot I paid them just 1k2 for charges, you can do the maths.