Escrow payments reduce the risk for buyers and sellers through using a trusted third-party to hold funds from a buyer and seller until goods or services have been delivered. Sellers can ship goods or provide services with confidence, knowing the buyer has paid, and buyers are sure that the seller will not paid until they have received the deliverables as expected.
HarbourYard has partnered with Payoneer to provide a total transaction fee.
This includes HarbourYard service fees and Payoneer financial transfer fees in a combined streamlined form.
The escrow fee schedule is calculated as follows:
For an Order value up to $5,000: 4.5% or $35, whichever is higher.
For an Order value from $5,000 to $50,000: $225 + 4% of order value over $5,000
For an Order value from $50,000 to $500,000: 2025 + 3.5% of order value over$50,000
For an Order value over $500,000: $17,775 + 2.5% of order value over $500,000
For an Order value over $1,000,000: $30,275 + 2% of order value over $1,000,000
The fee for a $7,000 order is $305 ($225 + $80)
[4.5% fee up to $5,000 = $225, plus 4% on $2000 = $80]
The escrow fee is based on the total value of a completed order. The fee is payable at the time the funds are released from escrow, and will be automatically deducted.
If a transaction is cancelled by the seller, Payoneer will refund the full amount to the Buyer.
Payoneer powers global commerce by providing a highly secure online business-to-business escrow service through its licensed wholly-owned subsidiary Armor Escrow Inc. Armor Escrow Inc. is fully licensed by the California Department of Business Oversight as an Internet Escrow Agent (License #9635661). Millions of professionals and businesses use Payoneer to receive payments in over 200 countries and regions, in 150 currencies. Leading global companies such as Google, Airbnb, and Getty Images rely on Payoneer to process payments to payees worldwide.
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