Regarding Payoneer, taxes for Indian students

My GSoC Journey

Excerpts from the GSoC mailing list (before we were warned for off-topic discussion) -:

  • Payoneer does not issue prepaid cards in India because of a RBI directive.
  • The bank transfer facility allows for transfer as USD or INR.
  • For transfer as INR, the charges are $3 + 3% of the transaction amount per transaction – this amounts to ~$150 for three transactions.
  • For transfer as USD, the charges are flat $15 per transaction – amounting to $45. One needs to check with their bank regarding any extra charges, forex rate charges, service tax, etc.

Clearly, transfer as USD is the best option at this time.

Apparently, there is some confusion regarding the transfer fees. The FAQ and pricing page at Payoneer says that the fees are $0. If someone could clarify this, please post a comment!

EDIT: For those who have questions, please refer to the comments thread of this…

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