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.

  • 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 The amount that can be withdrawn from the card should only be P2,500 so that “insufficient funds” message will not appear.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.

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