EMC2payout debit card atm withdrawal commissions
 

Hello!

What kind of commissions are you getting when withdrawing money from the emc2payout debit card?
All the time, it is showing me a 3.5 usd commission charge for each withdrawal, even if it should only be 1.5$.
In this case, it is even more expensive than payoneer.

Can anyone check what kind of commission is getting?

based on our tests for the usd card :

the ATM fee is being charged at $3.5. On their website they say it is $1.5 but it is actually $3.5

You are also being charged fx conversion fees for around 2% of the total amount if you withdraw internationally. It does not show it anywhere, you just get a lower exchange rate than the visa official FX rate (from visa website). Also compared with another USD card , withdraw same amount same time same atm, globewallet card fx rate was 2% worse than the other card.....payoneer is 3% so is is worse

Thank you for the reply!
I was aware by the fx conversion fee.
But what is strange is the flat fee of 3.5$. They advertise on the website that this should only be 1.5$. When I asked support about this, they said that it is actually 1.5$, but the rest is charged by the atm rather than the issuer of the card. This is bullshit, as this thing is not happening with the payoneer card nor was happening with the epassporte card.

yes, it's bullshit, it's not the ATM, it's them...everybody i know is being charged the same $3.5....instead of $1.5 as advertised

what is your experience with paxum ? Is it better /cost effective ?

Hey Livesexoncams, Greenlab and All,

We announced previously that IPS got the card manager to cap cross border/foreign exchange fees for our card at 35 basis points. This is huge since Visa and ATM network fees can range from 70 basis points to well over 1%. Many card programs add a surcharge of up to 2% more! The Globe Wallet Visa card charges our cardholders $3.50 and 35 basis points (which is just over 1/3 of 1%). It is correct that we only have $1.50 charge, which is included in that $3.50. Although we announced this change previously, we apologize because you are right, it should be stated clearly on our fee schedule and we will see that it is corrected right away. Sorry for the confusion, but truly we have a very, very, competitive card program fee schedule, we believe to be lower than the other card programs you've mentioned overall. We have seen posts from Paxum cardholders who are being charged whatever the network pass through is (which is never lower than 70 to 110 basis points to our knowledge) plus the Paxum $2 charge, and we have seen posts from Payoneer cardholders who are paying up to 3% surcharge plus $2.15, as you've pointed out. So at $3.50 and just 35 basis points capped, the Globe Wallet is really a good deal on ATM fees! Here's the thing, I know you said you have seen 2% cost, please send me the statement example, the amount you withdrew, the costs, etc., and we will query the Globe Wallet Pre-Paid Visa card people and see if there is some error or not. But my guess is the local ATM machine operator has added on costs, because our card is at $3.50 + 35 basis points flat, which is an aggressive pricing for sure.

Thank you,
LauraLee

I don't have any experience with paxum.
What I can say is that payoneer has overall about the same fees as emc2, but it is definitely a more trustworthy name, being for so many years in the business.
I suggest people from emc2 to try to find a better solution for the debit card, maybe to try issuing their own card. The current fee schedule, which they advertise to be very reasonable, in fact it is not really like this. Together with the delays in loading the cards, can make them be not the best choice for many of us.
Maybe someone can do an extensive comparison of the fees from different payment providers.

Please read my post above, I did some comparing :)

Thank you,
LauraLee

35 basis points is not much. Good job on getting that deal.

Whatever fees the individual sees depends on the transaction.
Bottom line is
EMC2Payouts : $3.5 + 35 basis points
Paxum : $2 + 110 basis points

That's what I have seen from my transactions, don't care about any other providers.
For these types of services they are both fine as far as I am concerned.

I was thinking about a more extensive comparison, including monthly fees etc.

Paxum fees for USD withdrawals worldwide $2 flat rate.
And they have the best internal currency convertion rate for local currency withdrawals.