Quote:
Originally Posted by nikki99
3rd world countries, every time I withdrawal money from paxum I need to pay a fee $8 dollars aprox, is that normal?
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Mastercard charges a 1% fee if you withdraw in a non USD currency some banks or card issuers may add on an additional 2-3% or more which RedPass do not do.
Since I see Payoneer in a RedPass/Paxum thread thread I will bring up this thread:
https://gfy.com/showthread.php?t=1048440 Where both Paxum and Payoneer claims that MC charges up to 3% in currency conversion fees.
MC charges 1%, look it up, research it and realize thats the way it is.
I did a withdrawal in THB on my RedPass card.
I got 31 THB/USD which were as good as the rate for $100 bills at
Bangkok Bank
I did the same transaction at one of our competitors and got:
Which is an exchange rate that is 3% worse.
So for someone withdrawing in non-us currency and making $2.000 a month they would make more than $700 a year using RedPass compared to our competitors.