Minimum Payoneer Withdrawal – The “Insufficient Funds” Problem
For new Payoneer users, withdrawing money from an ATM can be quite frustrating – if you find out that you cannot fully withdraw your hard earned cash from oDesk (or from other site). Getting “insufficient funds” message in the ATM is something of a concern – because aside from getting stumped at needing the funds to spend for some expenses or want, “insufficient funds” deducts around $0.90 each time.
I’ve experienced a series of insufficient funds too, before I was able to withdraw funds off successfully from my Payoneer account. From those several uses with the Payoneer card, I finally set out to always leave at least P500 within my Payoneer account.
image credit to Adam Sonnett
- Always do a balance inquiry first before a withdrawal. Each balance inquiry done with the Payoneer card is entirely free, I get to decide the amount that I need to withdraw.
- Withdraw funds at P500 less than the amount that you have seen during balance inquiry.
If you have a $75 funds loaded in the Payoneer card, then doing a balance inquiry at any Mastercard ATM should show around P3,000 (depending on the Mastercard exchange rate for the day). The amount that can be withdrawn from the card should only be P2,500 so that “insufficient funds” message will not appear.
I’ve tried leaving funds from P100 to P300 which covers enough of the $2.15 withdrawal charge that Payoneer takes away, but I still get “insufficient funds” message and get deducted. I have not tried leaving at least P400 in my account, so I do not have any idea whether “insufficient funds” will still bug me at that amount.
roy
December 4th, 2008 at 10:18 am #
hi, how many days will my card balance appears, someone load it with 300 dollars but until now it did not show up.. I am worried, will you please help. thanks you.
Gem
December 4th, 2008 at 5:27 pm #
@roy
Hello there! I am able to see the balance loaded in just two days after I requested cashout from oDesk. For that I would be getting an email requesting me to load the money first.
Try checking with your website if you had requested cashout. Mine’s not automatic, I had to click some button on the site to get the amount from the site.
ahr'ae
August 21st, 2010 at 5:28 pm #
hi,questions on payoneer.. hope you could still help me out though i noticed that this blog is written 2 years ago..
1. Does purchasing on Philippine currency involves some additional fees also? If so, are the fees constant or varies on the amount of purchases? Or does the fees depend on the establishment where I would purchase? Planning out to purchase on SM dept. stores.
2. Is it not possible to withdraw all cash loaded on our card? Then how can we use our remaining funds then? Just through purchases?
3. How or when do they deduct the $3 monthly maintenance fee?
4. Does withdrawal fees vary depending on the atm machine used? If so, which one for you deducts the least?
I’m actually new to odesk and just had my first few earnings, so I really want to know everything about fees before making withdrawals to avoid ending up paying a lot.
Please help. Thanks.