Payoneer: Good or Bad? Share your experiences. [POLL]

I would really like to hear peoples experiences with Payoneer, good and bad. Are they a trustworthy company or very dodgy?


Brennan

 

They rock! No more PayPal or Moneybookers for me. If you ever have a problem their live chat and email support is very helpful.

 

They are great and yes customer support is helpful.
Payoneer is one of the reasons why I decided to make money from affiliate programs

 

Here are My Reviews about Payoneer !!

I am using payoneer services since one year , and I never found any problem with the service . I love the payoneer customer support online service . There are no hidden charges , fee structure is clearly mentioned on the payoneer site .

Regards,
MB

 

I love payoneer so much. I like there service. My country is not PP allow country. So MB and Payonner i am use.

 

Never use it till now, but their card is quite attractive for me, a MasterCard which can access you account worldwide.
However their fees seems a little but higher than normal, I would really like to have a try anyway.

 

Never used them, but will in near future.

 

Well, I am certainly happy with them. I used them since last year when Plimus offered their card and that was the first time I heard of them. Withdrawal was easy on the ATM and it is actually great that they went with Mastercard as it makes the card accessible worldwide but online and offline.

They are friendly and quite innovative. I believe in the next few months when they offers the US Virtual Bank Account option, it would certainly be a godsend to many especially those who are from Paypal supported countries which can only withdrawal to a US Bank account.

I guess the only negative point I have about them is that at times, their website gets very busy and becomes inaccessible from Singapore.

 

US Virtual Bank Account option ? is it true ?
I'll dance if this will happen !
Thanks for sharing , go green !

Regards,
MB

 

eddy2099, I know you are not wizard, but how do you think if country don't allow citizens to create bank accounts in america it's a big issue to make it paypal supported ? That's why probably many countries can't use it for acceptance

 

I've got permission to talk about it so I would have to say this is definitely true. They are currently running a limited trial for this option and I am fortunate to be invited to take advantage of this.

I've actually added the Payoneer US Virtual Bank Account to Paypal, Plimus and Regsoft and they have accepted it. With Paypal, you will see the two small deposits, in my case, totalling 15 cents and got my US Virtual Bank account verified.

The account is offered by the First Bank of Delaware. You will get both the account number and ABA Routing number which would use.

One thing I can say is that all incoming ACH payments is free.

See http://www.techcrunch.com/2008/07/0...-accounts-make-international-cash-out-easier/

 

I do not believe that any country would prevent its citizens to sign up for a US Bank account. The restriction, I believe, is the policy of the US Central Bank. You know that the US Dollar is the most heavily traded currency in the world and at the same time, banks of the world would need to have a branch in the US or at least have a representative arrangement with a US bank in order to be on the world stage. With that said, I believe the US policy to 'Know Your Customer' is to minimize the risk of having their banking system made a mockery by people who use it for the purpose of money laundering. This policy got reinforced after September 11.

Basically, anyone in the world can set up a bank account in the US. US Citizens would definitely have no problem. As for the rest of the world, all you need to do to open a US Bank account is to go to a US Bank in the US and open an account in person so that their identity can be verified.

I have friends who either studied in the US before or worked there and have set up bank accounts which are still active after they returned home. I am not sure if visitors to the US can open bank accounts as I have not been into the US before so I cannot say.

However, with that all said and done, Payoneer has been working with The First Bank of Delaware to offer virtual bank accounts for its member. Basically, all money is channeled to Payoneer main bank account and then using the special routing bank account number, the money would be transfered to your account. It probably takes a day longer than normal ACH but it works.

I believe if you know me, you will know that I do not condone breaking any acceptable usage policy or contractual agreements or laws. With that said, there are several countries which have the Send/Receive status in Paypal and can only send money to a US Bank account. These people would indeed benefit from the Payoneer Virtual US Bank account system. I would certainly not recommend anyone to abuse the system who comes from a non-supported paypal country or one which only supports Send Only status to sign up for a US Paypal account and coupled with the Payoneer Virtual US Bank account to go around the loophole. I supposed if too many people do that, it will break down the system and probably cause trouble for the rest of us who use it legally.

 

@ Eddy

That's a great news for many PayPal users. I don't have any Payoneer card now, if I get one now and then will they give me option to get a virtual bank account in US?

Thanks for the great news, some green on the way

 

I have been using the Payoneer card for a year now and its great not having to wait for checks anymore. Its about time that Google and all affiliate networks start using prepaid cards, move on to the 21st century

 

payoneer is good

 

The Virtual Bank account is currently on trial now and only a select group of members are invited to join this. I would believe they want to be sure that the system works before opening this option up to the rest of the customers. I would believe you would agree with me that this is a better option then to do a quick launch and then find out that money can routed to the wrong accounts, it can get very messy.

Don't be disappointed if you sign up now and do not have the virtual bank account option. It would most definitely come soon.

Here is the welcome email for the Payoneer Virtual Bank account just to whet your appetite

 

I dont really like the fees

 

@ eddy

I agree that every kind of payment system needs a lot testing before get live in publicly. I need to do some research before go with them.

Thanks for your kind help

 

It's great news that everyone has either not used it or loved it. I will now think more seriously about signing up to such a service.

@rapidhunter, what's wrong with the fees?

 

The fees are actually in line with industry charges. Remember that with Debit Card, Payoneer does not have much avenues in making money compared to banks who offers credit cards. With Debit card, you cannot spend more than what you have in your account while with Credit card, the banks would hope that you do not pay in time so that they can charge their high interests on all outstanding money. On top of that, banks usually offers merchant accounts and gateway services and thus would make between 1 to 5% off each credit card transaction through their machine.

If you do not think that the benefit of the payoneer card outweights the $1 or $3 monthly fees that you pay then I think you should consider something else.

For me, the advantage of keeping funds in US$ to pay for online services and the ease and speed of withdrawing money is certainly worth the while.

More screenshots to whet your appetite.

Here is one of the load from Paypal



Here is from Paypal Bank Account Profile from my account