Real bank account or just collecting account on Payoneer EU

JesusfreundJesusfreund Posts: 3Member
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?

Best Answer

Answers

  • Adam_PayoneerAdam_Payoneer Posts: 1,109Administrator ✭✭✭✭✭✭✭
    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. 

    Happy and willing to answer general questions.

    For any inquiries directly associated to your Payoneer account, please contact Payoneer's Customer Care Support Center.

  • universallllluniversalllll Posts: 1Member
    > @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?"
Sign In or Register to comment.