Important to know about Payoneer

Envato Authors Author Hangout
1

So recently we had a TF author develop a WordPress version of one of our HTML templates. This author, as well as my partner, both used Payoneer, so I thought I’d go ahead and order a card so dividing up the payments would be easy. After all, Payoneer advertises that card-holders can transfer money to another Payoneer card easily. Unfortunately, this isn’t true…

I’ve never used my card, and apparently I have to make a withdrawal from my marketplace earnings BEFORE I’m able to receive “private” payments:

http://community.payoneer.com/topic/1314-private-loads-are-not-supported-for-this-card/

So just a warning to anyone who plans to use Payoneer. I guess they do this to make sure accounts are valid or whatever, but clearly there’s a huge loophole if you want to use Payoneer in the way I intended to use it.

Now how much do I need to withdraw to my Payoneer card next month from my marketplace earnings in order to “activate” “private transfers”? I have no idea. And to add insult to injury, it appears that “private transfers” have a $300 limit.

2

Man, I had the same issue as I was intending to use payoneer for freelance gigs directly, avoiding paypal, as an alternative to wire-transfers.

I actually had my account frozen due to inactivity and that brought me to their support that requested I charge the account from Envato (the actual Payoneer partner, due to which you actually gain access to a card). Upon completing the withdrawal from my Envato balance, the card was activated, and the option to receive funds via direct card loading was enabled. I did this with the minimum 50$. It’s indeed for verification purposes… and after all the card also features “Envato” written on it, so it would be only logical that the primary usage should be from retrieving Envato funds…

Is it uncomfortable ? Yes. Is it bad business? No. It’s just a little hidden bit of information that should be plastered all over their ads as well, among the other useful bits. But then again, seeing as Nissim is around here most of the time I am sure this shall become a priority soon :slight_smile:

p.s: the limit for private transfers under my account states “1000$” (Amount to load: Max 1000$)
Furthermore, to quote Nissim on the link you provided : “Your account can receive private loads of up to $300 total, after which you will need to receive a partner/US Payment Service transfer in order to increase the limit.” (hence my 1000$ limit)

3
contrastblack said

Yes. Is it bad business?

Looks like bad business to me.

4
doru said
contrastblack said

Yes. Is it bad business?

Looks like bad business to me.

Yet the world is still spinning. :slight_smile:

There are a lot of things one can be nitpicky about, but this just feels somewhat overkill. I am all for grabbing pitchforkes and such, but would rather be a bit more positive in the hopes that improvement might come.

Alas, to each their own… :smiley:

5
contrastblack said
doru said
contrastblack said

Yes. Is it bad business?

Looks like bad business to me.

Yet the world is still spinning. :slight_smile:

There are a lot of things one can be nitpicky about, but this just feels somewhat overkill. I am all for grabbing pitchforkes and such, but would rather be a bit more positive in the hopes that improvement might come.

Alas, to each their own… :smiley:

You misunderstood me.

6
doru said
contrastblack said
doru said
contrastblack said

Yes. Is it bad business?

Looks like bad business to me.

Yet the world is still spinning. :slight_smile:

There are a lot of things one can be nitpicky about, but this just feels somewhat overkill. I am all for grabbing pitchforkes and such, but would rather be a bit more positive in the hopes that improvement might come.

Alas, to each their own… :smiley:

You misunderstood me.

In that case, I’m open and eager for clarification, and you have my sincerest apologies :slight_smile:

7

I was planning to start using Payoneer in March, but seeing this I will definitely avoid it. Such a pity that you have to withdrawl earnings before receiving ‘private’ payments, and the $300 limit must be a bad joke.

8

It’s not for everyone, if you play with small money $20-$100 you are wasting your time with this card as there is some bomb commission and the $300 is a limit for 5 years old doing business , but if you are active with money there above $300-$500+++ a month then it’s a great solution, still PayPal is cheaper but i think only US resident can get a PayPal card

9

Do you know what happens when the card expires? Do I need to request a new one or is it done automatically?

10

Hi Guys,

A few topics I wanted to address here.

CodingJack said

So recently we had a TF author develop a WordPress version of one of our HTML templates. This author, as well as my partner, both used Payoneer, so I thought I’d go ahead and order a card so dividing up the payments would be easy. After all, Payoneer advertises that card-holders can transfer money to another Payoneer card easily.

It sounds like there is a confusion here regarding two separate services that Payoneer offers cardholders.

  1. For any partner program that supports it (Envato for example does support it) Payoneer allows you to transfer funds from your Payoneer card to another Payoneer card. This card to card transfer service is done directly via your My Account page at Payoneer.com. It’s free to send funds to another Payoneer cardholder, and the transfer is processed within 2 hours.

The service has a limit to the amount that you can transfer and receive each month (which is listed in your My Account page and is well above $300). Also, both the sender and recipient need to have received at least (1) payout to their Payoneer cards. There is no requirement to the amount of the payment, the restriction is simply to confirm that both cards are valid and linked to a partner of ours.

  1. In addition, we offer cardholders a “Private Load Service” that allows them to receive direct payments from 3rd parties to their card, via Visa, MasterCard, JCB or Discover. This service does have limits and restrictions involved, and generally intended for you to be able to receive payments from friends and family, and also from people that you work with routinely.

    ____

For receiving payments from Envato, or from any of the thousands of companies we work with, there is no limit. We provide you with several methods to receive your funds, which include:

  • Payments to the Payoneer Prepaid Debit Card
  • Payments directly to your bank account, available to over 200 countries and in more than 50 currencies

As a fully regulated US company, Payoneer strictly adheres to all applicable online payment regulations. Our goal is to provide you with the best global payout solutions available, while at the same time ensuring the highest level of financial security. We do understand that there is a fine line between security procedures and unnecessary inconvenience, and we do our best to make sure that all procedures and requirements meet with this logic.

flashedge said

Do you know what happens when the card expires? Do I need to request a new one or is it done automatically?

A couple months prior to your card’s expiration date, we will contact you with instructions on how to receive a new card. While the new card is being shipped, your current card will remain active so that there is no downtime experienced on your end. Once you receive and activate the new card, the old card will then be automatically cancelled and all available account balances will be transferred to the new card.

I’d be happy to answer any specific questions you have about Payoneer and the services we provide.

Nissim | Payoneer Community Manager | payoneer.com

11

Hi Nissim! Can you tell me, what should i do, if i want withdraw money directly to my bank account from my non-exclusive AJ profile?
As i understand, i need to register a new Payoneer account with a new e-mail (otherwise when i try to register again from another AJ profile Payoneer system said that this account already exist)? or is it possible to use already existing account? and another question…as i understand, i can use my bank card details and the money will send from Payoneer account direct to my card?
Thank you so much for your time!

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plastic3 said

Hi Nissim! Can you tell me, what should i do, if i want withdraw money directly to my bank account from my non-exclusive AJ profile?

Hi!

If you have an additional account with one of our partners and want to set up Payoneer payments, simply select Payoneer as the payment method for that account. Once you arrive to the online application page, you have a few options:

  1. You can link the new partner account to your already existing Payoneer card. This is only if you want to receive payments to the card.

    2) You can instead sign up for direct bank transfers. For this option, you will need to enter an alternate e-mail address, as we allow an e-mail address to be used only once in our system

When you sign up for direct bank transfers, it will open a new account for you that has no Payoneer card associated with it. Payments sent here will be transferred directly to your bank account, with costs starting at only $2.99 per payment. In the future if you have additional partner accounts that you’d also like to receive payments from directly to your bank account, you can link them directly to this Payoneer Global Bank Transfer Service account.

You can view the exact sign up process for the Global Bank Transfer Service here: Get Paid Into Your Local Bank Account with Payoneer

13

Nissim, i mean, that i have two accounts on AJ…so when i try to withdraw money from second AJ account by direct bank transfer, do i need to register again with a new e-mail? Both profiles from Envato, so i don’t understand, what a problem to withdraw money to my Payoneer account from my both profiles…sorry for my english…and i have no Payoneer card, i want to use direct bank transfer for my both AJ accounts…Thank you!

14

If you already have a Payoneer account set up for direct bank transfers there’s no need to apply for an additional account. Just follow the instructions shown here once you get to the online application: http://blog.payoneer.com/how-to-add-multiple-partners-to-one-payoneer-account/

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Nissim_Payoneer said

It sounds like there is a confusion here regarding two separate services that Payoneer offers cardholders.

  1. For any partner program that supports it (Envato for example does support it) Payoneer allows you to transfer funds from your Payoneer card to another Payoneer card. This card to card transfer service is done directly via your My Account page at Payoneer.com. It’s free to send funds to another Payoneer cardholder, and the transfer is processed within 2 hours.

The service has a limit to the amount that you can transfer and receive each month (which is listed in your My Account page and is well above $300). Also, both the sender and recipient need to have received at least (1) payout to their Payoneer cards. There is no requirement to the amount of the payment, the restriction is simply to confirm that both cards are valid and linked to a partner of ours.

Just wanted to confirm that there’s no confusion with regards to the main point I was making (highlighted above in bold).

It’s not the end of the world, but this is one of those things we should have been made aware of when the service was first offered here. As authors, we already wait up to 45 days for Envato to pay us our earnings, so this situation has now bumped that number up to 75 for me. And when you rely on marketplace earnings to pay bills, waiting 2 1/2 months to see a return on your work is a pretty long time.

16

The main purpose of the Payoneer card is to receive payments from our partners. This can be done as soon as your card application is approved (even before you receive the physical card) with no limit as to how much you can receive. If both Payoneer cardholders sign up to receive payments from their respective Envato accounts, card to card transfers can be used almost immediately.

That being said, I do understand the point you are making, and I apologize if it was not clear that the card to card transfer service cannot be used until you have received a payment to your account. I will pass on this feedback to our customer support department, so that they may update the FAQs in your My Account page to clearly state this.

17
If you already have a Payoneer account set up for direct bank transfers there’s no need to apply for an additional account. Just follow the instructions shown here once you get to the online application: http://blog.payoneer.com/how-to-add-multiple-partners-to-one-payoneer-account/
Thank you, Nissim!