"Personal" to "Business"

Oktal_StudioOktal_Studio Posts: 4Member
Last time I received a payment there was this line in the email: "In order to continue using Payoneer’s online payment platform and avoid future delays, please fill out the application form."
So I did that and chose "Company" instead of "Personal" because I recently registered as a sole proprietor in my country.
Since filling the application form (about 10 days ago) I haven't received any notice or a confirmation regarding whether the status of my account at Payoneer changed from "personal" to "business", or whatever...
So, I have a few questions:
1) is the application still being processed? or may I assume that no explicit confirmation from Payoneer means everything is ok, and now I have a "Business" account?
2) With a business account, what information will my bank receive when I withdraw money? Will there be the name of my business, or my personal name?

Thanks.

Best Answer

Answers

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

    For starters, new applications can take up to 5 business days to be approved. If it has been over a week since you applied, I highly recommend you check your email and it is most likely that additional information was requested from you to approve the application. IF you are unable to find any emails from them, you should contact Payoneer support for assistance.

    1. In regards to the account that was registered under your name (personal) or the business name, this is set up depending on your choice. It is not possible to switch from personal to business (or vice versa), so the path selected will be the one that follows. If you applied for the wrong account type, you can reapply but make sure to use an alternative email address.

    2. Just like any bank transfer, the information used to verify the transfer apart from the banking account and routing information is the name on the account. If you have a business bank account, it would be wise to enter the business name under the bank name in order to avoid any delays in receiving your transfers.

    Happy and willing to answer general questions.

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

  • Oktal_StudioOktal_Studio Posts: 4Member
    Thanks, Adam, for the answer.

    Regarding my second question, the thing is that when I withdraw money to the bank account (business account) what my bank sees is that I (by name and surname) am the originator of the transfer, while I (as sole propriator) am the receiving party. Which, for some reason, is a problem for the bank. So I was wondering if, when I'm a business registrant at Payoneer, the name of the transfer's originator would be my business name.

    Anyway, did I understand correctly that it's possible to have 2 Payoneer accounts then? One 'personal', and another 'business', with 2 different mail addresses?
  • Oktal_StudioOktal_Studio Posts: 4Member
    Thank you for the quick and comprehensive answer.
  • inamlucky533inamlucky533 Posts: 1Member
    Dear when my account approved? ???
  • Cristale_PayoneerCristale_Payoneer Posts: 1,277Administrator ✭✭✭✭✭✭✭

    In order to verify what is the status of your request, please contact our Support Center

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