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Payoneer now offering direct bank transfers to local bank accounts

Discussion in 'Payment Processing' started by PayoneerTeam, Aug 9, 2011.

  1. PayoneerTeam

    PayoneerTeam Active Member

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    #21
    Hi,

    We did some digging so here are the answers for you:
    SEMrush
    1) This has nothing to do with us. The RBI has banned all foreign (non-Indian) companies from issues MasterCards and Visas to Indian residents. This is not specific for Payoneer in any way.
    2) We can't issue the card to begin with. Regardless, every company that issues a credit card has specific numbers they use and those show where the card was issued.
    3) You don't have a 3 :)
    4) Indian ATMs haven't blocked foreign cards, the RBI has.
    5) This has nothing to do with the user. As a company issued prepaid MasterCards, it is OUR responsibility to know local laws and regulations of each country that we issue cards in, as well as adhere to MasterCard's rules. As you can imagine, MasterCard would not want anyone issuing cards illegally, or the RBI wouldn't let them work within the country either.
    6) Yes, Visas cannot be issued by foreign companies either.
     
    PayoneerTeam, Sep 5, 2011 IP
    SEMrush
  2. MarcelB

    MarcelB Member

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    #22
    what about morocco support ?

    Thx
     
    MarcelB, Sep 5, 2011 IP
  3. Card

    Card Well-Known Member

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    #23
    Within How much the funds will arrive to bank account if we choose option of Local Bank Transfer?
     
    Card, Sep 5, 2011 IP
  4. PayoneerTeam

    PayoneerTeam Active Member

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    #24
    Yes, we have transfers to Morocco, they cost $9.95. It is done through SWIFT, though, so it counts as an international transfer to your bank, so you may want to check the fees with your bank before you switch. We work with Barclays UK if they ask you for that information.

    It generally takes a few working days. It just depends on how long it takes for the banks to transfer it.
     
    PayoneerTeam, Sep 6, 2011 IP
  5. sampathsl

    sampathsl Guest

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    #25
    Hello Payoneer Team, Is this service available for my country Sri Lanka? if not could you please add Sri Lanka into this list? Thanks!
     
    sampathsl, Oct 29, 2011 IP
  6. creativelist

    creativelist Banned

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    #26
    Pakistan not in list in future is it possible
     
    creativelist, Oct 29, 2011 IP
  7. Nissim-Payoneer

    Nissim-Payoneer Active Member

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    #27
    Both Sri Lanka and Pakistan are available via SWIFT ;)
     
    Nissim-Payoneer, Oct 29, 2011 IP
  8. chandan123

    chandan123 Prominent Member

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    #28
    if we not used payoneer account for long time will it deactivated automatically ?
     
    chandan123, Oct 29, 2011 IP
  9. Nissim-Payoneer

    Nissim-Payoneer Active Member

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    #29
    Accounts will not be closed due to inactivity. Cards may be temporarily disabled, for security reasons, but are automatically re-enabled once a payment is received.
     
    Nissim-Payoneer, Oct 29, 2011 IP
  10. sampathsl

    sampathsl Guest

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    #30
    Hello Nissim, I inquired about the bank transfers from Payoneer support (Ticket no : LTK52905409876X ) but somehow Payoneer support team informed me that the transfers are not available. Could you please tell me how do I make a transfer from my Payoneer account to a local bank account using SWIFT?

     
    sampathsl, Oct 29, 2011 IP
  11. Nissim-Payoneer

    Nissim-Payoneer Active Member

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    #31
    It's likely that the partner program you applied with does not currently offer the worldwide local bank transfer service. Feel free to contact them and request that they enable it.
     
    Nissim-Payoneer, Oct 29, 2011 IP
  12. DPParadise

    DPParadise Well-Known Member

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    #32
    Payoneer, I am not an indian, but what is RBI ? Is it main government bank of India ? For example I am in Ukraine and it's kinda prohibited to have foreighn account (card or checking) without written permission of NBU (our main national bank, permission is close to impossible to get) but nobody really cares, Payoneer (and your competitors like Paxum, Alertpay, Moneybookers, etc) included.
    As well as I am not even sure that RBI have such power over non-Indian company, I mean it's not obligation to Payoneer to report their doings to RBI. RBI or NBU simply couldn't track all this at all. So please continue to provide service to Indians;) or stop serving other countries where it's prohibited too;) Card comes in the mail which nobody could open up.
     
    DPParadise, Oct 29, 2011 IP
  13. sampathsl

    sampathsl Guest

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    #33
    About 90% of my Payoneer income comes through the Virtual Bank account. I receive a very less money from the partner. Is there a way for me to transfer money in the payoneer account to local bank account without involving with the partner program? What is relation between a bank account transfer with a partner program we registered? thanks!
     
    sampathsl, Oct 29, 2011 IP
  14. PayoneerTeam

    PayoneerTeam Active Member

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    #34
    Well, it isn't that we don't WANT to issue them - they are actually physically blocked. Only Visas and MasterCards that are issued in India actually work there (for Indian citizens). Besides, no company would want to get in trouble with the RBI (Reserve Bank of India), regardless of the size of the company. No one else is issuing them either, this isn't a Payoneer issue.

    I know that there are issues with Ukraine, too, but the cards aren't blocked there, it's a different case.

    Hi Sampathsl,

    Unfortunately, we can only allow the bank transfer for our partners. When a partner makes a payment, it is sent directly to the bank account - it doesn't make a stop in your Payoneer account along the way. We aren't an eWallet. So VA payments can only go to the card now. If this changes in the future, of course I will let you know.
     
    PayoneerTeam, Oct 30, 2011 IP
  15. asmazergui

    asmazergui Member

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    #35
    when we have a virtual US bank account, can we withdraw money from it to a local bank account?
    are the funds automatically loaded from the VBA to the prepaid card ?
    thanks
     
    asmazergui, Oct 30, 2011 IP
  16. PayoneerTeam

    PayoneerTeam Active Member

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    #36
    When you receive funds through the virtual account, they appear on your prepaid card. At present time, we do not have a way to transfer them directly into a bank account.

    I will let you know if we do in the future.
     
    PayoneerTeam, Oct 31, 2011 IP
  17. sampathsl

    sampathsl Guest

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    #37
    Thanks! it would be an outstanding improvement to the payoneer service. Hope to hear from you in very near future.
     
    sampathsl, Oct 31, 2011 IP
  18. tady_bear

    tady_bear Peon

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    #38
    I am from Pakistan, please can you tell me how can i transfer my funds to my local bank account directly.


    King Regards.
     
    tady_bear, Nov 2, 2011 IP
  19. Nissim-Payoneer

    Nissim-Payoneer Active Member

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    #39
    If your partner/affiliate programs supports the worldwide local bank transfer service, you need only select Payoneer as your payment method for your account and provide the details for the bank transfer option. If you have already applied for the prepaid card option, you can contact our CS department and they will assist you in making the switch to local bank transfer.
     
    Nissim-Payoneer, Nov 2, 2011 IP
  20. Reimara

    Reimara Peon

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    #40
    I have received the payoneer card some months ago, but honestly i still confused to use it... by the way, it's a good news ... :)
     
    Reimara, Nov 4, 2011 IP