Send Payoneer wage payments to your Bitwage Premium EUR Account


#1

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It’s easy to configure Bitwage to process wages and payments earned through the Payoneer wage collection service. PAYONEER will transfer your wages to your Bitwage Premium EUR Bank Account by SEPA. You will set up your transfer through PAYONEER. This tutorial will show you the steps involved.

  1. Go to Withdraw to Bank Account on your Payoneer Portal

  2. Click on Withdraw from EUR

  3. in Enter withdrawal Details click on Add NEW

  4. Enter Business (or Personal) and Netherlands

  5. Finally Enter your unique EUR account details.

  6. Wait 3 Business Days for the account to be approved by Payoneer.


#2

The ToS is very US-centric with information that is irrelevant to Europeans. But exceptionally, it mentions EUR in a clause that says all money will be converted to USD because all bitwage’s external 3rd parties are USD-based. So if I understand correctly, even if no bitcoin is paid out, there is still a USD conversion, correct?

And if there is a bitcoin payout, then is it correct to say that the money will go through two conversion losses (EUR -> USD -> BTC), with bitwage’s 1% fee also added on top of that?


#3

The currencies are set per bank account. We support 25 different currencies.
Any deposit not in the currency of the bank account gets converted to the currency of the bank account first.
Best regards,

John


#4

Indeed you “support” many currencies, but that support has a cost. You’ve not addressed what I said about USD being the sole currency that those other currencies are converted into. Specifically, we see this in the Terms and Conditions:

Bitwage will not be liable for any currency conversion issues as only US Dollar is sent to our preferred partner.

I’m not sure what “issues” may arise that the clause above was intended for, but it certainly implies a conversion will happen. Also, who is this “preferred partner”?