Payoneer is a global online payment platform that enables users to transfer money from one account to another. As a result, many Nigerians use this payment platform for business and personal transactions. However, there is an annual fee associated with using Payoneer services and this can be a disadvantage to small earners in Nigeria.
The annual fee is $29.95 for users who did not receive at least $2,000 in consecutive 12 months. This annual fee can be a significant burden for small earners in Nigeria who rely on Payoneer to transfer money from one account to another.
The disadvantages of the annual fee for small earners in Nigeria are numerous. Firstly, the annual fee takes away from the money they have already earned, making it difficult for them to save or invest in their future. Secondly, the annual fee can be a barrier to using the platform for small transferring needs.
This means that small earners in Nigeria might not be able to access the convenience of using Payoneer for small transfers which could be beneficial to them. Lastly, for those who are not able to meet the $2,000 requirement in consecutive 12 months, the annual fee becomes a burden that may not be worth it.
In conclusion, the annual fee associated with Payoneer services can be a disadvantage for small earners in Nigeria. The annual fee may not be worth it for those who do not meet the $2,000 requirement in consecutive 12 months, and it takes away from money that could be saved or invested in their future.
As a result, small earners in Nigeria should carefully consider whether or not the annual fee is worth it before signing up for Payoneer services.