Payoneer Funds received as Intercity Local Fund Transfer - Not Good

bobbyscorpian

Its been two years I am successfully receiving Payoneer withdrawals in my local bank account But this only time the transaction reflected as "Intercity Funds transfer through check" and therefore I had to pay a handsome amount as service charges to my bank which is not acceptable for me Below is what appearing in my local bank account statement as description to Payoneer transaction I made

"Clg Chq Deposit 58xxxxx I/B 0007-FOREIGN EXCH. BR.,"

and then the service charges reflected with following description

"Comm-Local Funds T 0444-CBCUA6-001 COMM ON LOCAL FUNDS TR LFFT I/B 0007-FOREIGN EXCH. BR., "


Would like to know if there is any solution to this otherwise I have to consider ways other than payoneer to transfer my money.

bobbyscorpian

what a useless community this is probably third time I posted an issue and no one replied .... Not going to waste my time here again

[Deleted User]

Hi @bobbyscorpian We are sorry to hear about your experience, it generally happens when payment are sent through the processor to other banks in order to be processed to your bank account. . Because the banks are sometimes different, the amount charged is different too, however we cannot control through which bank the payment will be transferred since it depends of the processor itself.

tanmalik786

I have also suffered from the issue in almost all my recent transfers to Pakistan, the money transferred to my Bank Account appears as money transferred through an ATM machine. Which really is bad and let me dare say UN-ACCEPTABLE as well. This actually amounts to us having no proof that this is a foreign remittance and we may get penalized by our tax department for this lapse - apparently from Payoneer and their partner Banks.

I will request Payoneer guy's to please look into the thing and provide us with a solution to this issue.

princeali7

this is pretty serious topic, As in Pakistan there are lot of ban starting this year for non tax filer and we want to be tax filer but should also get the benefits of earning foreign remittance for the country and get credited for it.
Please guide this on how to prove your money as remittance

Thanks

penandweb

i guess payoneer clearly defines the payment received are "domestic" ones and not wire-transfers, unless its a wire transfer, you can't really prove its a remittance. the only way might be to backchannel.
But if there's a way to declare payoneer as a remittance, please enlighten us!

KazPayoneer

If the currency of the bank account you've added is set to your local currency, transfers will be sent through domestic, local transfers. If the bank account is set to USD, EUR, GBP (and the country is outside of those countries), it is a wire transfer.

Just wanted to state this for future reference.