How do fees work and why are they generated?
It is a certain monetary amount that banks or platforms charge since they facilitate the sending of money to any account or place in the world.
These fees are charged by your bank or the government, in the case of taxes, because they facilitate the sending of money and this is a commission that they always have for international shipments.
Below you will see a more detailed description for each payment method
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What is the rate that ✔️banks handle?
These may vary depending on the bank and the configuration that the bank account has. Since, for example, for international transactions the fee or commission may be higher. You can consult the table of rates where the costs for some countries are specified.
Note: If your country is not in this table, do not hesitate to contact us to provide you with the specific information of your country.
What is the fee handled by ✔️Payoneer?
There are no fees when making transfers on the platform, however, when you withdraw your money, you are charged a fee of around 2%.
What is the fee handled by ✔️PayPal?
The fee is around 5% of the value consigned to the account.
What is the fee in ✔️cryptocurrencies?
They work like banks, to make transfers specific networks are used for cryptocurrencies, which depending on how much they are used, charge a certain commission on your payment.
For Binance accounts, if you use the BEP-20 network you are only charged 0.8 USD, but if you use the ERC-20 network you are deducted between 5 and 10 USD (may vary depending on network congestion)
Table of rates (Banks)
Country | Payment method | Fee (Local currency) | Fee (USD) |
Chile | Bank transfer (CLP) | 1.6USD + 1.8% | 20 USD approx |
India | Bank transfer (INR) | 0.4 USD + 0.5% | 20 USD approx |
Mexico | Bank transfer (MXN) | 1.5USD + 0.45% | 20 USD approx |
Peru | Bank transfer (PEN) | 1.52USD + 1.50% | 5.3 (careful with fees for receiving USD payments, only BCP and Scotiabank have no extra fees). |
USA | Bank transfer (USD) | ACH > 0 fees Wire > 15 USD Aprox | N/A |
Argentina | Bank transfer (ARS) | 1.54 USD + 7% from "Dolar Contado con Liquidación" | 20 USD approx |
Colombia | Bank transfer (COL) | 1 USD + 0.4% | N/A |
Spain | Bank transfer (EUR) | 0.32 USD + 0.42% | 20 USD approx |
Brazil | Bank transfer (USD) | 2.1USD + 0.3% | 20 USD approx |
Honduras | Bank transfer (USD) | x | 20 USD approx |
Nicaragua | Bank transfer (USD) | x | 20 USD approx |
Bolivia | Bank transfer (USD) | 1.54 USD | 20 USD approx |
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