(!) Payoneer card and bank withdraw blocked (!)

Latest update from Payoneer blog:
https://blog.payoneer.com/home-page/wirecard-in-the-news-its-business-as-usual/

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Any official statement from the Envato? It’s Monday in Australia?

I already set up my mind and I’ll be using PayPal for this upcoming payment but I was just reading their recent FAQ update and there’s something I don’t quite understand: does anyone knows exactly what Payoneer’s Virtual Balance and Virtual Currency is? Is it, perhaps, that GBP balance in the middle (img attached)? I mean, to which of the the 3 balances shown on the landing page would an eventual future payment go?


Thx guys!

I’m not sure if that is what you wanted to know. The EUR - GBP - USD slots show the money available on current Payoneer cards you have in different currencies.

Virtual balance is the money you’ve received that is stored within the Payoneer account, and isn’t linked to any of your cards. Currently that money can be withdrawn to your bank account, as it’s not the subject of the current legal dispute.

Their recent FAQ update was to highlight that any payments done in EUR would still go through, they needed to state this as the bank which handles EUR payments is the Wirecard Bank in Germany, which is excluded from the current legal fiasco.

Thanks! I see. And how do I access my Virtual Balance? I mean, obviusly right now it’s 0 as I never used it, but I wasn’t even aware I could send a Payment Request to go directly into my account and not to my prepaid card.

I’m not sure of this point myself. I assume it’ll show up once you’ve received it in the currency it was sent, but you could take this with Payoneer help desk to be absolutely sure. The option to receive money on cards should be disabled at this point.

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Got it! Yeah, I thought so. About contacting Payoneer’s help desk right now, I won’t even waste my time on that… that phone must be on fire, hahaha :fire: :fire:

PayPal shall it be for now. Thanks again! :slight_smile:

Their Facebook help page answers much faster. Provide them with the account number to skip a step.

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I did not have pleasant experience with paypal. Of course, I’m not the only one. Very often paypal tends to block money out of blue for no apparent reason. I’m not happy, but I will also probably have to go back to them.

Paypal, Skrill, Payoneer, even bank transfers are not without risk. The truth is, working online needs all the support authors can get. And many more withdrawal methods that work with everybody.
Paypal isn’t accepted in a ton of countries, but little is done to provide more solutions that ensure authors don’t have to go through hoops just to get paid.

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Definitely envato needs more withdrawal options.

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Any idea what will happen to the funds for authors who have no other choice but payoneer? I mean payout is due tomorrow, and i already sent envato a ticket to hold the funds till next month at least and i doubt ill get an answer before tomorrow due to increased ticket levels.

Just curious, if any Payoneer customers from US have issues with their cards. As I remember Payoneer uses different card provider for USA.

It’s likely to go through to Payoneer as planned under the assurances that Payoneer has taken the proper measures to ensure these funds are delivered to users’ bank accounts.

When the Envato withdrawal system was turned into the payouts system, it eliminated the ability to postpone withdrawals in situations such as these. This is the thread in which this change was announced, you can read what its advocates had to say at the time.

According to Upwork’s response to this issue. This freeze only affects non-US customers.

Good to hear. Payoneer has some problems (although this is not their fault), but in this case we have chance that situation will be successfully resolved. I mean that not all of their customers will run to take money from them and it helps them survive.

Given that US customers aren’t affected by the freeze, and neither are users who didn’t rely on cards. I imagine Payoneer will have no issue surviving this. The problem is their policy does not cover or insure their customers in case of situations like these, in fact their terms of service explicitly mention they will not mitigate any losses in the case of Wirecard safeguards failing.

Some E-money companies also affected by the Wirecard issue have vowed to reimburse affected users in 2 weeks span IF Wirecard was to fail at paying.

It will be resolved one way or another. I’d imagine they’re already working on finding a substitute card issuer to ensure card functionality is restored.

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We just have to be sure that we will be able to withdraw further payouts from Payoneer to Bank Account.

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Just a couple of questions after thinking and thinking…and more thinking…is it too crazy or naive to believe that the frozen money is safe and will be back to us any time soon as Payoneer says? And believe them when they say that from now on any future payment will be out of this freeze and we can withdraw it to a local bank account? I had money linked to the card right now, so frozen money at this moment, but should I trust that any future payment will be out of this issue? I’m asking for opinions because I really don’t want to change to Paypal or any other, and I think all this huge problem is not Payoneer fault.

This is one of the more important questions right now, at least for me.

The money is there in safeguarding accounts. However, it is not accessible by Payoneer. Only the FCA can lift the freeze. Payoneer said cards will return in a matter of days, but they can’t know for sure.
The main player here is the FCA, they’re not to be trusted. In February they froze EPayment funds and haven’t returned it to users since. This comes at the same time the UK gov is holding $1Bn in gold away from the Venezuelan government. Unrelated maybe, but who can tell.