2 Days Top Clear A Pvt Load Is Too Long

NicoNico Member Posts: 6
Hi

I recently paid someone with a pvt load (because I had already reached my limit of 5 C2C transfers in a month) and when you took the weekend into account, it took 4 days for the funds to be available.

This seems unacceptably long. Couldn't you streamline the process? After all, the funds are debited to my other card instantly!!!

Comments

  • DavidDavid Member Posts: 3,193 ✭✭✭
    Nico wrote:

    Hi

    I recently paid someone with a pvt load (because I had already reached my limit of 5 C2C transfers in a month) and when you took the weekend into account, it took 4 days for the funds to be available.

    This seems unacceptably long. Couldn't you streamline the process? After all, the funds are debited to my other card instantly!!!



    As mentioned, private loads, once they are approved, take up to 2 business days to arrive in your account.

    I thank you for the feedback and will make sure to pass it along.

    Sign up for Payoneer and the US Payment Service

  • eminemin Member Posts: 1
    I second this, it's not like you guys wait 2-3 days for clearing the payment. you took the money from the card instantly, and hold on to it for 3-4 days (just my luck, as I did private load on Friday night). can you give us one reasonable explanation why you hold the money couple of days when you can load it immediately without copy-pasting some company made script.
  • NissimNissim Head of Community Administrator Posts: 3,604 ✭✭✭✭✭✭✭
    edited November 2012
    Emin, the initial charge is only a pre-authorization hold on funds. At this stage, Payoneer has not yet completed the transaction and it can be cancelled at any time. The actual funds have not yet been transferred, but are "on hold" in the loader's account.

    There are strict security procedures we must follow with online payments, certain checks and follow ups that Payoneer is required to make (as a fully regulated company). For this reason, the process takes some time.
  • GedeGede Member Posts: 6
    edited February 2013

    Ok, and why is that everyone else accepting credit cards, offline, lets you take the goods right away, and online, immediately process your order while paying with a CC?

     

    What is the difference between Payoneer accepting CC payments, and other companies accepting CC payments?

     

    What does "fully regulated" means? Or "initial charge" and "pre-authorization hold on funds"?

     

    Afaik the money from the people payed me through you, is in your account., and that's it.

  • NissimNissim Head of Community Administrator Posts: 3,604 ✭✭✭✭✭✭✭

    A pre authorization is a temporary hold on funds. It means the merchant (in this case Payoneer) does not actually have the funds yet, we just have received approval to charge them. We then have security procedures that we must carry out, after which we complete the payment.

     

    Every service has different procedures, and online payment companies are requires to have higher security than general online shops and merchants.

  • GedeGede Member Posts: 6
    edited February 2013

    So, the people who paid me through you have not been charged yet on their cc? And they can cancel in one or another way?

  • NissimNissim Head of Community Administrator Posts: 3,604 ✭✭✭✭✭✭✭

    If the private load attempt is on hold, the pre-authorization will be pending for up to 7 business days, after which it will expire and be released to their card. If it has been declined or requested cancelled, we will cancel the pre-authorization and the funds will be released back to the method of payment.

     

    In all cases, if the transaction is not completed by Payoneer within 7 business days the pre-authorization will expire and the funds will be released back to the method of payment.

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