The Payoneer CashLynk Prepaid Card is a MasterCard that is specifically designed for payroll deposits. Many companies choose to use Payoneer CashLynk to provide a payroll option for their employees. There are also companies that provide Payoneer CashLynk cards with their own brand on them so that you can deposit money on your card at anytime.
Choice Bank Limited provides the Payoneer CashLynk Prepaid Credit Card. Although this is a prepaid card and not a regular credit card, you must still be over the age of 18 to get one of these cards. Find other online credit card options here!
You can use your card anywhere that MasterCard is accepted, which makes it very convenient for online shopping. However, there are some things that you need to understand about using this card.
Payoneer CashLynk Prepaid Credit Card Overview
Like all prepaid credit cards, Payoneer CashLynk has a lot of fees associated with it; however, it does have fewer fees than the traditional prepaid card. While you do have to pay an activation fee of $9.95, a $19.95 fee to close your card and receive your money back, an inactivity fee of $2.95 and more, Payoneer CashLynk doesn’t charge anything to load money onto your card, no matter how you do it.
Many people with bad credit or who want to stay off of the grid in terms of having an account with a bank prefer to use prepaid credit cards. You do, however, need to be aware that there are fees for virtually every purchase that more than makes up for banking fees or interest fees you might pay on a normal credit card.
One of the neat things about using the Payoneer CashLynk is that it is great for use as a foreign travel credit card. When money is deposited onto your card, it is in US dollars, however, it automatically converts to foreign currency when you travel, eliminating the need to figure out conversion rates and foreign currency.
Payoneer CashLynk Prepaid Credit Card Benefits
- Use virtually anywhere
- You don’t need a bank account
- No one is declined
- No minimums for the card
Payoneer CashLynk Prepaid Credit Card Considerations
If saving money is your goal, then a prepaid credit card may not be a good option for you. Their fees can add up quickly and have you guessing as to where your money is going.
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