I paid 40 GBP with my Payoneer card from my USD balance.
The statement says "Fx @ 1.26325", which is $50.53. What actually left my balance was $52.30. Divide the two and the real rate was 1.3075: 3.5% worse than the rate printed on the same line, with no fee line anywhere. Against the ECB mid-market rate that day (1.2591), the total was 3.84%, about $38 on every $1,000.
Payoneer does say its card charges up to 3.5% on purchases in another currency. It just never appears as a number on the statement, so you only see it if you do the division yourself.
Check your own: amount debited divided by the foreign amount is your real rate. Compare it with that day's mid-market rate.
