Some eBay sellers vexed with new Payoneer annual account fee ($29.95) for not receiving $2,000 in payments

Payoneer, renowned for its global payment solutions, has gained significant popularity among eBay sellers due to its ease of use and seamless integration with the platform.

However, in recent times, a growing number of sellers are finding themselves at odds with the popular payment platform that is used for international transactions.

The bone of contention lies in Payoneer’s implementation of an annual account fee of $29.95, which sellers must pay if they fail to receive at least $2,000 in payments within a given year.

The introduction of an annual account fee has become a source of frustration for sellers who don’t meet the $2,000 payment threshold (1,2,3,4).

eBay sellers vexed with new Payoneer annual account fee

People are now arguing that this fee unfairly penalizes those who operate on a smaller scale, making it particularly burdensome for part-time sellers or individuals new to the eBay marketplace.

I had $1.44 in my payoneer account but they took it as part of the annual fee. I thought would have waited until I received 30 dollars. I’m wondering if they’ll take the rest of it when I receive more money to the account. I haven’t had the account for one year as yet
Source

Same here…… We are being forced to use one and only option by choosing Payoneer and now the latter is charging us annual fees by depleting our meagre funds……why remove PayPal as option when it’s available elsewhere……. Is this fair? Guess not…. :disappointed_face:
Source

Users have been quick to label the new policy a scam ever since the news first surfaced. It has also been claimed by some that they were absolutely unaware of the policy change until they noticed the deduction from their account.

Additionally, some sellers are questioning the company on the criterions by which they are deducting their hard-earned money. They argue that Payoneer fee structure should be more accommodating and transparent.

They announced the $29.95 fee in April 2023. They are telling me I created the account more than a year ago and I didn’t accumulate $2000 in transaction therefore the fee applies. Shouldn’t the fee only be implemented going forward? I did not hear about this fee when I signed up. Total bullshit.
Source

That said, the implication of the new Payoneer annual account fee can manifest in multiple ways. It may discourage new and smaller-scale eBay sellers from using the platform as their preferred payment platform.

Moreover, sellers who fail to meet the $2,000 payment threshold may find it financially challenging to absorb the additional expense.

No official comment in sight

Unfortunately, there has been no official response from the company. It remains to be seen whether Payoneer will address sellers’ concerns and modify its fee structure.

From a broader perspective, discontent among eBay sellers could surely prompt a shift towards alternative payment platforms.

So, a quick response is the need of the hour. That said, we’ll keep tabs on the latest developments and update this article accordingly.

Note: You can check our more such stories in our News section so be sure to follow them as well.

Featured image source: Payoneer

PiunikaWeb started as purely an investigative tech journalism website with main focus on ‘breaking’ or ‘exclusive’ news. In no time, our stories got picked up by the likes of Forbes, Foxnews, Gizmodo, TechCrunch, Engadget, The Verge, Macrumors, and many others. Want to know more about us? Head here.