Dan.com switches payments to Payoneer (2.Viewing)

MapleDots

MapleDots

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Interesting news, I will have to follow through to se if it's for the better or not.

Up to now the system has gone pretty smooth for payouts so Payoneer has big shoes to fill.
 
The big question for me here is....

I use Dan because of the ease of Payout, if it's now exclusively with Payoneer why don't I just make a Payoneer account and use my own landers to save money.

I'm going to have to check what the payoneer costs are and report back.
 
So I just signed up and Payoneer wants 2% to convert from CAD to USD

Is that on top of the 9% Dan already charges and then the 1% discount they give on top to the client for using bank transfer?

That moves it from 9 to 12%

I knew this would not be good news!!
 
Huge issue here.... Dan just announced the email should not have said it is mandatory and once hooked in there is no way to disconnect from Payoneer

I just signed up and I want to switch back to the old Dan system, there is no way I am paying another 2%, some of my domains sell for so much money that 2% extra conversion is a huge chunk. I had no such conversion fee with direct deposit from Dan.
 
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Hard to say for sure but it looks like there is another hidden 2% fee here on top of the 2% conversion fee they told me about when I signed up.
 
Received from Dan

We’d like to correct something about the messaging you’ve received about our Payoneer integration.

The normal bank wire flow that you’re used to will still be available for our users and we will not force any seller to use Payoneer. If you do not wish to work with Payoneer, nothing changes for you. Simply do not create or connect a Payoneer account and your next payouts won’t be impacted.

We will make this clearer in your payout settings so you can choose explicitly if you wish to receive bank wires from Dan or Payoneer. Each option has its advantages and disadvantages, however, as always you decide.

Thanks,

Dan
Click to expand...


Looks like they are back pedaling this already
 
This is why I was hesitant on even using them. I like to handle my own transactions. At least you have full control.
 
I was just going to post about this BS.

I knew Dan would screw users over the long-term, as they tend to make arbitrary decisions without any consultation, and are a bunch of tech-heads with zero financial wherewithal.

This Friday Morning BAM! of "Hey screwheads! We just signed a sweetheart deal with Paynoneer! That means no more Bank Transfers and more delays, refunds, issues and best of all, FEES, which we get a juicy cut, of course."

I cannot believe a company I deal with would issue such an insane ultimatum of "Payoneer or Else!" on a Friday morning, and then automatically lock "disable bank transfers" in settings, so you can't get paid unless you create a Payoneer account (which Dan also gets a fee on).

And Payoneer is NOT a "Bank Transfer System" they are a Paypal-competitor for online money management, so Dan is outright lying about what is really going on.

Dan is a pack of greedy little buggers and I never trust greedy little buggers.


Dan-P.jpg
 
It’s time to give a big FU to dan….it’s time for [notify]MapleDots[/notify] to start a new domain platform. :D
 
MapleDots said:
There should be a simple toggle switch to turn off Payoneer but it is on only, there is no manual off once you hook in.
Click to expand...

And there is also no way to Enable Bank Transfers (see image above) if you don't have a Payoneer account on Dan.
 
I love the old "there are no withdrawal fees, only currency conversion fees" part LOL

Well DUH! That's what all these services (like Paypal) do, promote a "no withdrawal or deposit fees" policy while absolutely gouging you on the exchange rate.

Paypal and Payoneer take about 4% of CAD off the "mid-market rate" on USD, which is an already-low rate that cuts maybe 2% off the top of what a bank would give you.
 
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