EasyPay is a system inside of xunread.com, that makes it Easy to Pay (hence EasyPay) all of your workers. It lists all of your hired workers in one area, with "pay now" links next to each one.
Its not a payment system itself though. You are always paying workers through an outside payment processor. Currently, Payoneer and Paypal are the two options. EasyPay simply makes super convenient to use payment links that you use to pay your workers at the other payment processors.
Workers are able to create invoices for their services which you can then pay and show for tax reporting. EasyPay intuitively shows your previous payment history to each worker as well.
To be clear, xunread.com offers EasyPay for FREE. We take no overhead fees or any kind of cut of payments sent to workers. You are able to continue to use EasyPay to pay your workers even if you cancel your xunread.com monthly subscription.
For example, you could pay your workers via Paypal, and only pay Paypal's normal fee structure.
However, xunread.com has negotiated a special arrangement with Payoneer (the processor we recommend). If you use EasyPay and pay workers with Payoneer, Payoneer will wave their normal 1% transaction fee. If you pay using your bank account directly, that means there are no fees when using Payoneer. If you do use a credit card with Payoneer, there is a 3-4% fee that covers the merchant processing fee that credit cards charge. Paypal has a similar credit card fee.
Using Payoneer/Paypal is extremely similar to most other money transfer services. The benefit of using EasyPay is that you are able to use payment links right from inside of your xunread.com account to pay your workers with these systems.
Payoneer performs additional security screenings for payments to workers that just created their Payoneer accounts. The initial payments can take 5-7 business days but after that, most payments happen within 24-48 hours.
As stated above, if you use EasyPay to send payments through Payoneer, there are no fees for that transfer. You send $100 USD (or AUD, GBP, EUR, etc), the worker receives $100 USD in their payoneer account. However, when the workers withdraw funds from their Payoneer account to their actual local bank, there is a 2% foreign currency transaction fee when converting from USD to PHP (Philippine peso).
ALL payment processors charge a forex fee. Its part of their conversion rate that they show how much a worker receives in PHP when you send currency to them. Payoneer's forex rate is the market rate plus 2%, which normally beats the conversion rates of Paypal, transferwise, remitly, etc.
That is why we recommend employers use Payoneer to pay their workers over any other processor.
Normally, most employers do not pay the 2% forex fee. It should be agreed upon during the interview/hiring process whether the monthly salary (lets say, $500 USD a month), excludes or includes the forex fees. In general, the stated salaries at xunread.com on worker profiles should be the desired salary that workers are looking for, knowing that they have a forex fee.
Now, if you would like to be more generous as an employer (and keep your workers happier), you are certainly welcome to pay the 2% forex fee as an added benefit.
There is no "signing up" for EasyPay. All employers have an Easypay area inside their xunread.com my account pages.
You don't need a Payoneer account either. Employers can pay a worker without ever creating an account, though its more convenient to have an account. During any payment to a worker, you have an option to create a Payoneer account so your payment info (like bank account) is saved for future payments.
All payments are actually handled through 3rd party processors (Payoneer/Paypal), and either provider has state of the art security and encryption systems to handle your payments securely.
Absolutely not. Payoneer and Paypal both use your existing bank accounts for payments. No applying for new credit cards, or creating new bank accounts, is necessary.
Workers can create Payoneer and paypal accounts for free, and very easily with a minimum of requirements to create an account. Accounts should take no longer than 5 minutes to create for them.
Its not required to signup for Payoneer's debit card. In fact, its NOT recommended.
You should link your local bank account (or create one) to receive payments/withdrawals.
If you do choose to get the Payoneer card, it has a $29.95 USD annual fee to use it, and as with any internationally-issued card, there are fees associated with using it in local ATMs. It varies per bank but generally, it’s PHP 200 per successful withdrawal.
Again, NO, you don't need the Payoneer card.
Using Payoneer should have no more fees than the standard 2% foreign exchange fee.
Normally, Payoneer has a 1% transaction fee. However, xunread.com has negotiated a special 0% transaction fee if you use EasyPay/xunread.com to initate the payments. Enjoy!
Usually its an issue of incomplete/insufficient identification. It’s either you have yet to submit a copy of a valid Government ID or the one you submitted is insufficient/unclear.
If your Payoneer account is already linked to a different platform/site, it can't connect to a new one (like xunread.com). You'll need to create a new Payoneer account to link to xunread.com.
xunread.com has a special negotiated bonus, where workers that use Payoneer to receive salary through EasyPay/xunread.com get a special bonus. Once you receive $1000 USD in payments, Payoneer will add $75 to your account as a signup fee.
For the first echeck payment, it will go through the standard processing time of 5 business days, due to additional security screening. If that is successful, then succeeding payments will be expedited to at most 2 business days.
Yes, it is possible. However you must explain why it’s different, what is the relationship with the bank account holder, etc. A form will be sent to you via email once you enroll with a bank account that has a different name.
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