Received payment from client in USD through BOA

I Received a payment for my services from a client to the amount of $13,429.92 through ACH. Today I received an email saying that a payment has been received to the amount of $0.01 and "While you can continue to receive payments, your Global Payment Service has not yet been verified and future payments may be held for review until verification is complete.

In order to verify your Global Payment Service, please provide us with a copy of your Certificate of Incorporation."

I have provided the certificate of incorporation for the verification, but why is that I only see $0.01 as received a payment, I got an email from Bank of America that states "You have been sent an electronic payment in the amount of $13,429.92 . This payment is for invoice GPA-Aug-001."

How long will it be before my account is completely vetted and verified and when can I get my money?

I keep waiting for hours on both your chat line and phone lines to reach an agent and then they get disconnected.

Please help

Regards,
Dhanalakshmi
Cust ID:27269713

Answers

  • [Deleted User]
    [Deleted User] Posts: 1,147

    @ Dear @dhanalakshmi why did you receive an email from bank of America if the payment was supposed to be transferred to Payoneer? In regard to the verification of your information, you simply need to submit what was requested and the information will be verified once the payment reaches the system.

  • dhanalakshmi
    dhanalakshmi Member Posts: 6
    edited October 2018
    Thank you for replying @Cristale_Payoneer The client making the payment must have provided an email from within the ACH system to notify the receiver of a transaction for an electronic transfer. My question was I am supposed to receive $13,429.92 but the recent transaction on Payoneer shows 0.01, your support says that they are not aware of what this transaction is and must be a test. Do banks normally do a test for ACH before doing the larger transfer?

    And how long does it take for the verification to be completed? Do I have to submit a document every time I receive a payment?

    Thanks,
    Dhanalakshmi
  • [Deleted User]
    [Deleted User] Posts: 1,147

    There is such a possibility, test Payment method allows merchants/companies to check how the payment process works without making real payments. To start receiving payments, you'll have to contact the company and request for the transfer, make sure you receive a payment ID and contact us back for any additional inquiry.

  • dhanalakshmi
    dhanalakshmi Member Posts: 6
    edited October 2018
    @Cristale_Payoneer From your reply, I understand that this transaction for 0.01 was by the bank to test the account, my client says that the funds have been debited from their account on Friday and the transaction ID is 0667854276. Can you please look into it at the earliest.

    And my GPS account is still completely vetted even after 4 days of submitting the documents.

    Regards,
    Dhanalakshmi
  • [Deleted User]
    [Deleted User] Posts: 1,147

    You have to contact the support team and provide them with the payment ID because this is not an issue that can be resolved here on the forum.

  • dhanalakshmi
    dhanalakshmi Member Posts: 6
    > @Cristale_Payoneer said:
    > You have to contact the support team and provide them with the payment ID because this is not an issue that can be resolved here on the forum.

    @Cristale_Payoneer Update - I saw the payment under upcoming transactions on Oct 05, then I received an email from support team on Oct 11 asking for additional information, which I did immediately and contacted support through Chat after long wait times to request them to expedite the process of verifying the information. On Oct 14 (Sunday) I surprisingly received an email that my payment has been processed. I now (Oct 15) am waiting for the funds to be available in my local bank account.

    Though the overall process is slow and stressful, a few of your customer agents, especially Kaz was good and helpful.
  • [Deleted User]
    [Deleted User] Posts: 1,147

    The loading time differs from one payment to another because as you already know, for some payments our payment approval department may request verification details to review the source of the payment to make sure it complies with our terms and conditions. It is important to keep track of your inbox to make sure that in case anything is requested you can provide it on time to avoid any delay regarding the loading time of your payment.