Fund Transfer to Wrong IBAN

mrbilal

Hi Everyone,

I need help regarding my issue that I transferred fund to the wrong IBAN that does not belong to mine. Actually, the Title of bank account and account number I entered for fund transfer did not match. Payoneer approved account number without verification of valid IBAN and Account title.

When I transferred amount to that IBAN and after few days I realized that IBAN was wrong and contact with Payoneer customer care they guide me that I had to wait for 14 business day after your money will bounce back to your account. After waited 20 days I could not get back my amount I again contact the customer care team and they said "we don't have any update on this matter". I contacted my local bank they said this issue can be resolved by Payoneer.

I tried to explain the whole issue in details. Please, anyone, have any experience like this before please guide me because Payoneer customer care team not taking my matter seriously and I am worried about my payment.

Thank you,

Rashid Bilal

[Deleted User]

Hi there, @mrbilal

I can see that you already contacted the Customer Support and your case is currently being handled by the relevant department

They will send you an email once the update will be available.

Please let us know in case if we can help you with anything else

Have a pleasant day!

mrbilal

Ok. But it's already been 2 months now and when the update will be available? I am waiting for this.

For now, just answer me of this question:

Can you explain how can Payoneer approved an Account for fund transfer that does not match with its title?

KazPayoneer

Hello @mrbilal, sorry about the issue you are facing.

To answer your question, we have many users who do not have access to their own bank account, so it is possible to add a bank account of a friend, supplier, or family member. We generally trust our users to enter in the correct account information as errors would lead to delays in payment to the correct account.

Since the information you initially provided was correct, it has caused an unfortunate delay in payment. Our bank transfer team is chasing the funds as best as they can so that we can reverse the payment back to your account, but in honesty, these situations take time, and usually a lot of time. This is because we are having to rely on third party resources, like our banks and any intermediate banks. These third party resources, sadly, do not operate on response times that Payoneer offers.

We hope to be able to e-mail you a response very soon.

Thanks for understanding.