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Payoneer NOT closing Virtual Account system, only improving it

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PayoneerTeam

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Hi everyone,

We have a conversation going on in another thread, but since the title was misleading, I wanted to clarify:

Payoneer is NOT shutting down the Virtual Account program - just the opposite. We are upgrading it by switching to a stronger and more powerful bank. The new bank will allow for much more stability than we had before, which translates into a better service for our users.

Our new bank requires that we work with a predefined list of companies, but this doesn't mean we can't add more companies to the list.

Your regular payments from a partner will not change - they are still all open for you - and you can still receive payments from any MasterCard or Visa.

Also, this change affects a VERY small percentage of our users (barely qualified as a percentage), but I would be more than happy to talk to anyone whose companies can't pay through VA anymore about having them sign up to be our partners as well.
 
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Do you have a FAQ or something which could list the criteria one needs to satisfy to be able to sign up for a Virtual Account?

I heard about you testing out the VA system (about 3+ years back), but never really heard anything beyond that.
 
Yes, the basic criteria is to have received at least 3 payments from one of our partners over 3 months, which means you need to be an active Payoneer user.

Now we also have the white list of companies, but all the major ones are on it: PayPal, Amazon, CJ, CB, etc.

Since we are making this change (probably in the next week or so), we are holding off on reviewing applications until we have finished the switch so we won't need to issue 2 different accounts to people, but you can feel free to apply now and we will get to your application once we resume reviewing them.
 
Do you allow me to register new? i used to have mastercard from you guys 3years ago but i lost it and dont member my account details anymore.
 
Our new bank requires that we work with a predefined list of companies, but this doesn't mean we can't add more companies to the list.
Click to expand...

Paypal the biggest payment processor is not in the list?

OMG
 
Sonic said:
then why my Virtual Bank account is being suspended only for withdraw money from Paypal
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Hi Sonic,

Some of the PayPal activities aren't clear, so we had to take the safe route, but as I mentioned to you by PM, and would like to be sure to mention again, please feel free to email the address that we listed on the email and let us know who pays you through PayPal for what, and maybe we can reinstate it. It's done on a case by case basis, though, and I don't have guidelines for this.
 
Hi Sonic,

Some of the PayPal activities aren't clear, so we had to take the safe route, but as I mentioned to you by PM, and would like to be sure to mention again, please feel free to email the address that we listed on the email and let us know who pays you through PayPal for what, and maybe we can reinstate it. It's done on a case by case basis, though, and I don't have guidelines for this
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WTF!! now you are watching Paypal activities. you have the right to spy Paypal accounts? and how do you know if the activities are legal or illegal? I think Paypal have their own policies and anti-fraud system. so you are saying that Paypal allow illegal activities or what?
 
Sonic said:
WTF!! now you are watching Paypal activities. you have right to spy Paypal accounts? and how do you know if the activities are legal or illegal? I think Paypal have their own policies and anti-fraud system. so you are saying that Paypal allow illegal activities or what?
Click to expand...

Actually, it isn't Payoneer, it's the bank. It's a large bank that isn't reporting where the money is coming from or going, but needs to know that what's going on is legit. In most cases, we know exactly where it's coming from, which is why it has only been a small number of people affected by this.

I'm not saying PP allows illegal activities at all, but the bank may be a bit more harsh about what they allow and don't, so we need to make sure that everything is OK with them so that we don't have problems in the future.
 
PayoneerTeam said:
Actually, it isn't Payoneer, it's the bank. It's a large bank that isn't reporting where the money is coming from or going, but needs to know that what's going on is legit. In most cases, we know exactly where it's coming from, which is why it has only been a small number of people affected by this.

I'm not saying PP allows illegal activities at all, but the bank may be a bit more harsh about what they allow and don't, so we need to make sure that everything is OK with them so that we don't have problems in the future.
Click to expand...

I have Paypal and Alertpay account for almost 4 years without any issue or dispute.

all my payments are legit as well,

anyways the FEE 2% for bank transfer is very high and not mentioning when you withdraw money from ATM with Payoneer debit card $2.75.

costs:
Payoneer card monthly maintenance: $3
Payoneer card: $40 per year
Virtual bank account: $20 per year
Virtual bank account FEE: 2% per transaction
ATM withdrawal: $2.75

doing a example with $2500:
1- Transferring $2500 from Paypal to payoneer at 2%= $50 :O
2- Payoneer debit card monthly maintenance= $3
3- withdrawing from ATM machines ($2.75 each time you withdraw) and most ATM machines allow $500 as limit. so it is $2.75 x 5: $13.75 8-)
4- $20 per virtual account (1,66 per month) and $40 per debit card (3,33 per month) $20 and $40 are the cost per 1 year
5- When someone pay you through Payoneer you must wait up 2 business days to be loaded in your account. If you want your money deposited immediately you must pay $3

================================

$2500
-
$50
$3
$13.75
$1,66
$3,33
__________________

$71,74 on FEE's = $2,428

If you want high FEE's go to Payoneer :P
 
Last edited:
l0ck said:
Hello,
Can i verify my Paypal Account with Payoneer ?
Thanks
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Yes, you can use your Payoneer card to verify PayPal. Please remember, though, that since Payoneer is a prepaid card, you need to have funds on it before attaching it to your PayPal account. This is because they make a small charge, typically $1-2, to make sure the card is actually yours. Other than that, you shouldn't have any problems.
 
Ok thanks,
I have other question please:
Can add funds on my Payoneer directly ?, if yes , how to ?
Thanks for the great support on our forum.
 
l0ck said:
Ok thanks,
I have other question please:
Can add funds on my Payoneer directly ?, if yes , how to ?
Thanks for the great support on our forum.
Click to expand...

Once you have already begun to receive payments from one of our partners, you can also load the card through any Visa or MasterCard, but this is only once you have already begun receiving partner payments.

And you're welcome. :)
 
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