I am from India and work as a freelancer on Fiverr and have withdrew money many times through Payoneer. I changed my bank after some weeks and now I am not getting funds credited to my bank account. The bank keeps funds on hold and ask for invoice (as it is a foreign exchange transaction) and other documents such as FEMA declaration. I can fill up the FEMA form, but as Fiverr doesn’t have any invoice system I cannot provide the invoice to them.
I tried to explain my bank the whole case, but they are not listening, and I cannot do anything… I showed them the CSV Earning file from Fiverr, screenshots of funds received and transferred by Payoneer, but all in vain. Sometimes, they credit the funds and mostly, they just revert back to Payoneer, and Payoneer transfers it again.
My bank said that the transaction is flagging as a trade transaction and hence they have strict policies regarding the same and hence they need invoice copy and all. Is it possible for Payoneer to somehow transfer the funds as a normal transaction instead of trade transaction? Is it possible for me to draw an invoice in the name of Fiverr and submit to bank? Would it be legal?
What’s your opinion about this? What should I do further? Shouldn’t I do banking with them? Their rest of the services are excellent, but the main problem is with the inward remittance…