Real bank account or just collecting account on Payoneer EU

Jesusfreund

Hi, I have a general question.

I am using Payoneer EU (Gibraltar) and I am wondering how it behaves with the OECD. I am asking myself if Payoneer is a "real" bank account or just a collecting account.

Will Payoneer send information of my account automatically to my country?

Adam_Payoneer

@universalllll

No, the Payoneer account information and the withdrawal details used are separate. The information you provide to Payoneer in relation to approving your account/payments will not be transferred to anyone under no circumstance.

When initiating a bank withdrawal, only the information associated to the transfer/payment are utilizes in order to ensure that the funds are deposited to your bank.

Adam_Payoneer

All global payment details (bank accounts) Payoneer provides are collection account details. Unlike standard bank accounts that are opened by simply walking to the nearest bank branch, the details we receive from the bank are set up directly through headquarters.

This is why details such as the bank branch code (swift code for example) are not available as the details weren't set up as regular bank accounts.

This means that the details only have the capability of acting as a mediator between the sender of the funds and the receiver of the funds (Payoneer). At no time will the funds be held in the collection account details we provide longer than the duration it takes to move the funds to your Payoneer account. 

universalllll

> @Adam_Payoneer said:

> This means that the details only have the capability of acting as a mediator between the sender of the funds and the receiver of the funds (Payoneer). At no time will the funds be held in the collection account details we provide longer than the duration it takes to move the funds to your Payoneer account. 

Thanks!

But what about the last question: "Will Payoneer send information of my account automatically to my country?"