Just withdraw from ATM.
ATM withdrawal was successful. The bank that I usually use still doesn’t work for me, both ATMs and in-store terminals. My secondary bank worked.
My friend was able to use ATM of the same bank that didn’t work for me with no issue. Go figure.
I guess I can let out a sigh of relief for now and wait for the 6th and whatever updates it brings. Thank you everyone for participating in this post. You have no idea how much relief and support it provided me with. <3
What I read said that Mastercard won’t allow them to use their cards any more. I don’t know if that is still in effect at this time. That was the last part of this mess they needed to solve.
It’s understandable that Mastercard doesn’t want to be associated with this scandal.
Apparently I wasn’t the only one wondering about that one video showing customer service employees at Payoneer:
she says is that she is in the Payoneer customer service center (it is her first sentence) on Sunday morning June 28, 2020, when the customer support is working only Monday to Friday, and once it is after 5:01 pm on Friday, the customer support is not answering to anyone. Who are these people talking to? When was this video filmed? Is this staged?
I was able to make a small purchase online. It’s a relief !
I agree. This post helped a lot. ! Thanks a lot everyone!
I got to know about this last night. It’s still an issue to be resolved for those who don’t have a local bank account and are dependent on the card. Specially in this Covid-19 situation. Suppose, Payoneer is going to send new cards, there will be huge delays due to current pandemic. My local shipments are taking 2 - 3 weeks on average. The new cards will take way longer to reach. I wish the best for anyone facing this problem.
I try ATM yesterday and it work. Tunisia here
I understand, but they will get a new issuer soon. You can’t load the Wirecard issued Payoneer card again, and it makes sense because they are moving out and finding another partner they can trust and have the assurance of not getting burnt like WC.
No need to close your account. Remember the saying, "Be careful the bridges you burn, you may need to cross them again."
Paypal’s horror stories scare me like hell.
No, I don’t. I only leave minimal amounts there if I know I want to purchase something online that requires USD. It is only the money in my local bank account that I believe to be mine. Any fintech can close down anytime and the money is in limbo. WC is a close call.
Smart thinking. I use Paypal and know the horror stories too. Scary.
Sure, the card has “technically” been turned into a one-time load non-reloadable card.
You wouldn’t be so sure if 4 major local banks in your country were closed, leaving all of their employees suddenly unemployed, and leaving everyone with funds in them unable to get them.
It happened in my country almost 30 years ago. It took 20 years for some people to get their savings.
At least some still got it. In my country, money is insured up to a certain amount with Central Bank. If that is just formality, I don’t know, but in most sane climes, you will get the money back, and it is insured. I’m just saying it is a bit safer with local banks.
In my country it was insured, too, and it didn’t help.
If you’re living someplace sane.
I’m just saying that in some countries people might have a good reason not to feel 100% safe with local banks.
We have to invite Hogwarts’ goblins to keep our money for us then.
It’s not the most convenient way because it involves a lot of additional movements. Their card was useful in many ways. I could just withdraw the required amount, pay taxes and forget about it.
Payoneer cards were banned in Russia because Payoneer refused to register with local tax authorities (at the same time, PayPal managed to register in a proper way).
Here are the main problems I faced since May:
- It’s impossible to get your money during long holidays and weekends.
- The largest state bank rejects Payoneer payments because they use strange payment descriptions, which trigger security systems. The largest private bank does the same.
- Payoneer customer support has no idea about the process of money withdrawal. When you ask them about the information provided to the bank, they say: “It’s only your name.” When I showed them screenshots below, they were like: “Well, maybe it’s not your name. We have a lot of partners, so there’s no way to know it.”
In fact, it says the following:
(Foreign exchange transaction 20200 (Payment for services), VAT has to be paid separately).
The payment was made by Citibank Ireland (with a lot of , after it).
There were no issues when they used the following description:
For now, I have to switch to PayPal with their rates and fees…
I don’t blame Mastercard though, I blame Payoneer for not having the foresight to have broken up with wirecard months ago. I heard red flags from wirecard were showing up as far back as last year.
Here in the U.S. which is where I am based, as far as I know about Paypal’s debit card, the only fees come from of course ATM (which is actually cheaper than Payoneer at $1.50 per withdrawal), and cash reload fee of $3.95. Which is when you reload cash onto your card at a retailer like CVS, Walgreens, 7-Eleven, etc. I don’t do the latter, so no worries.
Also paypal instant transfers to my paypal debit card cost me $0.25 per transfer. Money arrives in 30 minutes or less. Again, cheaper than Payoneer’s $3.00 per immediate load.
I know Paypal can withdraw money from our bank accounts at any time it wants to. That’s what is scary. I’m not seling on ebay or using them for any other sales so it’s not really a concern at this time however.
They don’t offer it here. It was available a couple of years ago, but they closed all cards here.
When you transfer USD to PayPal, you lose around 5% on exchange rate. There’s no way to use USD, so I have to exchange it.
In addition, they take 3-4% per withdrawal. So, I lose around 8-9%, which is a lot.
They have only one advantage: They are registered with tax authorities, and I can be sure that my funds won’t be held by the foreign exchange control.
In the case of Payoneer, I have to talk with the bank representatives once in a while, and I never know if my payment is processed immediately or in a week.
At the same time, I hope they will find a solution to offer debit cards here.