Payoneer claims to be one of the best financial service business for online payment services. Payoneer issues a MasterCard for each members to withdraw money using any ATM that accepts MasterCard worldwide. Payoneer claims that it has been doing great so far, i have also used Payoneer and its MasterCard quite for a long time but with my experience was not best overall.
I signed up for Payoneer on August 21, 2014. It was great for receiving payments it even worked for PayPal verification that time, on Jan 29, 2015 they removed my USPS which is the bank account. After losing my bank account i emailed / called them about 4-5 times, the only answer i would get was “your case is still under review, please wait for the respond” but there was no respond from payoneer. After using card without USPS for 3 months until i got error ‘Account Blocked! (#MA104) Please contact customer support’ while trying to login.
I was using Payoneer’s MasterCard for domain & hosting purchases and for online payments for goods & services by transferring funds in my account from a friend’s account. As i got blocked, i emailed payoneer for the issue as it prompt me to contact customer support. So, after 4 days of my email i finally got an email why my account was blocked and will never be opened again, the only single reason was “undisclosed reasons”.
Here is what i think of payoneer after using it for about 6-7 months:
- Your money is not in safe hands
- Your USPS can be taken away anytime without notice
- Your account can be closed anytime without notice
- You contact support, they will not help you but will keep lingering you
- They will not return your Thousands of Dollars you had before your account was blocked for annoying undisclosed reasons.
- Payoneer = waste of time and waste of money
- High risk, No profit
- Total scam
What i suggest to all payoneer holder is to withdraw all their money from their accounts and stop using payoneer, it is really uncertain how & when your account will be closed and they don’t even give you your money back, total scam. For those who want to sign up for Payoneer, i discourage you to do so through my experience, but you can test your luck with them by visiting this page MasterCard in Nepal. Even though they provide a good service in my opinion- Payoneer is a scam.