I've been using my Payoneer prepaid debit Mastercard since 2011. Since the card can only be used at GTB and Zenith bank ATMs, I used to withdraw my funds at any GTBank branch.

At first, I used to withdraw my funds at the rate of about N145 to a dollar. That is, if I have $1,000 of the card, I'll be able to withdraw N145,000.

But since late 2012 or so, I discovered that GTBank has been ripping me off gradually. When I first noticed, I could only withdraw at the rate of about N135 to a dollar (even though the standard exchange rate was around N160 to a dollar). I still continued using their service after all.

However, it got to an unbearable state recently when I discovered that two recent N2,000 withdrawals I made from my card reflected a whopping $18 on both occasions! By my calculations, GTBank was selling the dollar to me for $111, even when the standard exchange rate is around N160 to the dollar)

I then decided to try Zenith bank, and I was able to withdraw at the rate of N147 to the dollar. To me, that's much better. What it means is that if you have $1,000 on your Payoneer card, you will be able to withdraw N111,000 at a GTBank ATM, but a Zenith bank ATM will give you N147,000. Can you see the difference?

I'm blowing this out so other Payoneer card users will know the right place to withdraw their funds. For now, avoid GTBank like a plague. They steal!

I have used my Payoneer card on all the regular ATMs I use my other cards and they have worked (GTB, Zenith, FCMB etc). I haven't sat to calculate the exchange rate, I just do not expect to get the exact value in the card as there are withdrawal fees to be paid. I may be wrong but I think I get charged 1k for every 20K withdrawal. I may be wrong about the exact figure that is charged but I know a good amount of money is taken when I do withdrawals of 100K in bits of 20Ks. I mistakenly checked the card's balance once through an ATM machine without making a withdrawal and was charged for it.

DualCore1: I have used my Payoneer card on all the regular ATMs I use my other cards and they have worked (GTB, Zenith, FCMB etc). I haven't sat to calculate the exchange rate, I just do not expect to get the exact value in the card as there are withdrawal fees to be paid. I may be wrong but I think I get charged 1k for every 20K withdrawal. I may be wrong about the exact figure that is charged but I know a good amount of money is taken when I do withdrawals of 100K in bits of 20Ks. I mistakenly checked the card's balance once through an ATM machine without making a withdrawal and was charged for it.

Oh well, I've never tried FCMB, but I'm sure it doesn't work with all ATMs. I once tried tried it at a Keystone Bank ATM and I got a funny message ("Card not Smart" ).

The only legitimate withdrawal fees due on the card is the $0.90 charged per ATM withdrawal or balance check. And that should be less than N160. As far as I know, that's the only transaction fee due on a Payoneer card aside the $3.00 monthly maintenance fee.

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webincomeplus:
I've been using my Payoneer prepaid debit Mastercard since 2011. Since the card can only be used at GTB and Zenith bank ATMs, I used to withdraw my funds at any GTBank branch.

At first, I used to withdraw my funds at the rate of about N145 to a dollar. That is, if I have $1,000 of the card, I'll be able to withdraw N145,000.

But since late 2012 or so, I discovered that GTBank has been ripping me off gradually. When I first noticed, I could only withdraw at the rate of about N135 to a dollar (even though the standard exchange rate was around N160 to a dollar). I still continued using their service after all.

However, it got to an unbearable state recently when I discovered that two recent N2,000 withdrawals I made from my card reflected a whopping $18 on both occasions! By my calculations, GTBank was selling the dollar to me for $111, even when the standard exchange rate is around N160 to the dollar)

I then decided to try Zenith bank, and I was able to withdraw at the rate of N147 to the dollr. To me, that's much better. What it means is that if you have $1,000 on your Payoneer card, you will be able to withdraw N111,000 at a GTBank ATM, but a Zenith bank ATM will give you N147,000. Can you see the difference?

I'm blowing this out so other Payoneer card users will know the right place to withdraw their funds. For now, avoid GTBank like a plague. They steal!

everything you said is true,I guess I will start using zenith ATM to withdraw......during the period when you withdrew from gtb ATM have they ever told you that you have reached the daily maximum limit....

Helo how much will u sell ur dollar now? Let me know pls