Reply
This is an open group. Sign in and click the "Join Group" button to become a group member and start posting.
cancel
Showing results for 
Search instead for 
Did you mean: 
Reply
This is an open group. Sign in and click the "Join Group" button to become a group member and start posting.

India

Community Leader
Sandeep C Member Since: Oct 24, 2013
Is payoneer card accepted in India. Any one using it.
Moderator
Valeria K Moderator Member Since: Mar 6, 2014
Hi Sandeep, You can use Payoneer in India. Please, find more information about payment methods recommended for Indian freelancers here.
~ Valeria
Untitled
Active Member
Nitin Kumar S Member Since: Jun 9, 2014
[quote=Sandeep Chauhan]Is payoneer card accepted in India. Any one using it.[/quote] You can use Payoneer as a withdrawal method at oDesk. But as per the regulations implemented by RBI no foreign provider can issue a card to any Indian citizen unless that provider(bank) is also having a branch in India. Don't go for Payoneer if your needs are local currency(INR)
Community Leader
Sandeep C Member Since: Oct 24, 2013
Thank you Valeria for your reply. Thank you Nitin for your reply. I did want to know from actual users from India about how was their experience of using payoneer. I am using LFT method to withdraw my money. And I wanted to know which other alternatives are available. I guess LFT is best methon to receive funds except that USD-INR exchange rate is less that actual market rate. I had done search on this and think that AXIS bank gives full amount (exchange rate= updated exchange rate). Anyone having any idea on this.
Active Member
Nitin Kumar S Member Since: Jun 9, 2014
[quote=Sandeep Chauhan] I had done search on this and think that AXIS bank gives full amount (exchange rate= updated exchange rate). Anyone having any idea on this.[/quote] Sandeep you might be right about AXIS bank but that won't be applicable here. Currency conversion is done by JP Morgan Chase Bank and funds are routed to your bank's branch in INR. So whichever bank you choose exchange rate won't be affected. As of now, I would recommend for withdrawals in following order (based on my own experience) 1) LFT - Obviously the best suited as of now. I don't need to elaborate on this. 2) WIRE Transfer - Now here the live exchange rate comes into play. Wire transfer would be in USD from oDesk. So it will depend which bank you choose to receive money (you can go for AXIS for best rate). BUT THERE IS A HEFTY 30USD WIRE TRANSFER FEE. So unless and until you don't really earn insanely in a particular month. I don't think this would be profitable to you. NOTE- IF there is some urgency and you need your money very badly, then go for it. As this is the fastest transfer method. 3) Paypal - Even lower exchange rate than oDesk. Restrictions from RBI a) You can not spend your earnings from Paypal b) Any funds in your Paypal account will be transferred automatically to your bank account daily (i.e No holding period) Rest methods I don't recommend, they are not a good fit for India. Cheers Nitin
Community Leader
Sandeep C Member Since: Oct 24, 2013
Thank you so much for this information. I was really looking for this clarification. :-)
Active Member
Nitin Kumar S Member Since: Jun 9, 2014
Glad I clarified your concerns Smiley Happy
Active Member
Sourav B Member Since: Mar 31, 2014
Hi Nitin I see you have been helping a lot with information, I just want to know one thing, I mean I get my funds on my HDFC account, but as many of you know about HDFC, I don't want to elaborate, I just need to know if I can use any other bank for that matter?? Please give me 2-3 names if you know. Thanks
Community Leader
Sandeep C Member Since: Oct 24, 2013
You can use any other bank like SBI, PNB, BOI, AXIS or any other bank for money transfer.
Active Member
Nitin Kumar S Member Since: Jun 9, 2014
[quote=Sourav Bhattacharjee] Please give me 2-3 names if you know. Thanks[/quote] You can use SBI, BOI, PNB. I use these 3 most frequently. Funds are received between 2 - 3 days.
TOP KUDOED MEMBERS