eBay Sellers Stuck With Payoneer Annual Fees
As eBay transitioned to Managed Payments after splitting with PayPal, sellers in several countries were forced to link Payoneer accounts to receive payments for items sold on the platform.
Now, some of those sellers who have less than $2,000 in payments per year through Payoneer will find themselves stuck paying a $29.95 USD annual fee.
Previously, Payoneer only charged an annual fee if an account did not process any payments within a 12 month timespan, but they are updating the policy to now require a $2,000 minimum in some countries.
We are updating the criteria for charging an Annual Account Fee of 29.95 USD in some countries. In the affected countries, starting from the effective date, an Annual Account Fee will be charged if 12 months pass and you have received less than 2,000.00 USD (or equivalent) in payments.
For remaining countries, the criteria for charging an Annual Account Fee remains the same: an Annual Account Fee will be charged if 12 months pass without you having at least one transaction in your account.
Please select your country in the table below to see whether the change in criteria applies to your account, and to see the relevant effective date for your country. Note that, if applicable, on the effective date the updated criteria will be reflected in the Fees page in your Payoneer account.
Check to full list of countries impacted by this change here:
For countries not listed, the criteria for will still the same: an Annual Account Fee will be charged if 12 months pass without you having at least one transaction in your account.
Unfortunately, eBay sellers in those countries below the threshold are a captive audience - if they live in a country where eBay uses Payoneer as their sole payment processor, they must use the service and have no alternative options to receive payment.
It is unreasonable for eBay to expect sellers to pay additional fees to eBay's chosen payment processor when sellers have had no say in the matter and cannot chose another provider.
Given eBay's size and considerable power as a Payoneer partner, they should work to negotiate on behalf of sellers for an exception to this fee.
Will the updated Payoneer annual fee impact your selling on eBay or other online marketplaces? Let us know in the comments below!