u/PhaseNo191

Is anyone else annoyed by Payoneer charging a $29 annual fee if your account doesn’t receive at least $6,000 per year?

This feels unfair for freelancers, beginners, and small online earners who are still growing. Not everyone processes thousands of dollars annually, especially in countries where income opportunities are limited.

Instead of encouraging users, they punish smaller accounts with fees. What makes it worse is that many people don’t even notice the charge until it’s deducted.

Platforms like this should support freelancers, not penalize them for not earning enough. Anyone else thinking of switching to another payment platform because of this?

I’m currently in a really bad financial situation. I have a credit card with BPI.

Original limit started at ₱30k, eventually naging ₱169k. I got offered pala madness 300k.

From June 2025 to April 2026, I’ve already paid ₱393,000 (minimum payments).
This does not yet include what I paid from August 2014 to May 2025, which I haven’t fully computed but roughly estimate to be ₱1.3M+.

Despite all that payments, my current balance is still around ₱1.2M plus may unbilled pa.

I already reached out to BPI, and ang offer nila is restructuring:

Around ₱46k/month for 4 years

Total magiging ₱2.2M

I used to have a strong income from online selling (buy and sell), but I got permanently banned from the platform due to brand authorization issues. They didn’t accept my documents (gift receipts), so nawala bigla yung main income ko.

At that time, I tried to stay afloat and protect my credit record. I used credit-to-cash to keep paying my dues, hoping na makaka-recover yung business.

But it never did.

So instead of stabilizing, lalo lang lumaki yung utang ko due to compounding interest, and now I’m stuck with a balance I realistically can’t pay anymore.

The problem is:

I’m currently unemployed. I only have a small sideline on a commission basis (around 10% of my client’s sales), but the income is not consistent.

So realistically, hindi ko talaga kaya yung ₱46k/month.

What I’m struggling with:

Ang laki na ng nabayad ko (₱1.6m+ years before that), pero parang mas lalo lang lumobo yung utang

Feeling ko trap yung MAD — kahit nagbabayad ako before, hindi bumababa yung balance

Btw I'm

Btw, I’m currently 8 days past due since hindi ko nabayaran yung latest minimum.

Right now, parang mas logical sakin na:

Not accept the restructuring (kasi hindi sustainable)

Focus muna on getting stable income

Then later, try to negotiate a settlement

From what I’ve read, possible daw na:

₱1.2M → around ₱300k–₱600k settlement (depending sa timing and collections stage)

Questions:

May naka-experience na ba ng ganito with BPI or other PH banks?

Is it really possible to settle for a much lower amount later?

How bad are the consequences if I stop paying for now? Kulong ba ako?

Not looking for judgment, just trying to make the most rational decision at this point. Medyo overwhelming lang talaga.

Thanks in advance 🙏