Transaction Pending - unclear explanations, mess with the docs required, lack of communication.

Raf_BuksRaf_Buks Member Posts: 1
edited August 2019 in Payoneer in Pakistan
I have a company account. I've been using the service to receive payments from other company using Payoneer for many months. The incoming transfers were always processed within minutes. Until now...

As I was asked, I provided Payoneer with some additional documents on my company a month ago. I submitted all the documents except for the second, third and fourth "Beneficiary Owners". I only provided one (me) because there was only one. I own 95% of the company. The forms themselves were stating that for those three remaining Beneficiary Owners - there is no need to provide any details if there is only one - which was the case. I thought everything is fine. I made sure every document and information requested was submitted correctly. It was, everything was on the list checked as "Submitted". Then, I just got back to work.

To my surprise a month later (yesterday) my incoming payment was put on hold. I talked with customer support twice but I was not provided with any reason for this situation. The only explanation they were able to provide was "the verification team needs more time" because they need to check the docs I provided a month ago! But at the same time, I was told this is not the reason - they just need more time.

Well, I got back to my laptop and took a look at the Verification Center and to my surprise, all the docs I submitted a month earlier were still having the status "Submitted" not "Approved". Even though I submitted them a month ago.

The "verification center has another tab which is named "Required" and there - to my even bigger surprise - I found that this very transaction is on hold because of the three pieces of information I haven't provided. And these were... You won't believe... The second, third and fourth Beneficiary Owners. Yes, the ones I was not supposed to provide if there are no more of them. (!)

Again - The forms clearly stated a month ago - that I was not supposed to give these detail if there are no more Beneficiary Owners. There were no more of them - ONLY ME.

Yet the forms stayed as not submitted remaining on the list as the very reason for the transaction to be put on hold!

Some simple questions for Payoneer crew:

1. Why approving the documents takes a month?!
2. Why did nobody warn me that it can take so long?!
3. Why did nobody warn me that incoming transaction can be put on hold for several days because of that? I would use another bank until this is resolved!
4. Why not required information is given as a cause of putting the transaction on hold?!

For god sake, if I knew that I would just use another online bank. I chose this one because of the company that is paying me uses Payoneer. The incoming transaction (still pending BTW) is from another Payoneer account. What is more - this company has been paying me in this way for several months and the transactions were always processed within minutes.

Please, treat your customers seriously. Everyone should be warned of a possible delay with transactions and of the documents required not yet approved which can cause that delay.

Keeping your customers "in the dark" - like described above - is just not fair.

I need to pay my bills. I need access to my money.

My Customer ID is: 23689382.

Please advise/help.

Answers

  • Raf_BuksRaf_Buks Member Posts: 1
    I have a company account. I've been using the service to receive payments from other company using Payoneer for many months. The incoming transfers were always processed within minutes. Until now...

    As I was asked, I provided Payoneer with some additional documents on my company a month ago. I submitted all the documents except for the second, third and fourth "Beneficiary Owners". I only provided one (me) because there was only one. I own 95% of the company. The forms themselves were stating that for those three remaining Beneficiary Owners - there is no need to provide any details if there is only one - which was the case. I thought everything is fine. I made sure every document and information requested was submitted correctly. It was, everything was on the list checked as "Submitted". Then, I just got back to work.

    To my surprise a month later (yesterday) my incoming payment was put on hold. I talked with customer support twice but I was not provided with any reason for this situation. The only explanation they were able to provide was "the verification team needs more time" because they need to check the docs I provided a month ago! But at the same time, I was told this is not the reason - they just need more time.

    Well, I got back to my laptop and took a look at the Verification Center and to my surprise, all the docs I submitted a month earlier were still having the status "Submitted" not "Approved". Even though I submitted them a month ago.

    The "verification center has another tab which is named "Required" and there - to my even bigger surprise - I found that this very transaction is on hold because of the three pieces of information I haven't provided. And these were... You won't believe... The second, third and fourth Beneficiary Owners. Yes, the ones I was not supposed to provide if there are no more of them. (!)

    Again - The forms clearly stated a month ago - that I was not supposed to give these detail if there are no more Beneficiary Owners. There were no more of them - ONLY ME.

    Yet the forms stayed as not submitted remaining on the list as the very reason for the transaction to be put on hold!

    Some simple questions for Payoneer crew:

    1. Why approving the documents takes a month?!
    2. Why did nobody warn me that it can take so long?!
    3. Why did nobody warn me that incoming transaction can be put on hold for several days because of that? I would use another bank until this is resolved!
    4. Why not required information is given as a cause of putting the transaction on hold?!

    For god sake, if I knew that I would just use another online bank. I chose this one because of the company that is paying me uses Payoneer. The incoming transaction (still pending BTW) is from another Payoneer account. What is more - this company has been paying me in this way for several months and the transactions were always processed within minutes.

    Please, treat your customers seriously. Everyone should be warned of a possible delay with transactions and of the documents required not yet approved which can cause that delay.

    Keeping your customers "in the dark" - like described above - is just not fair.

    I need to pay my bills. I need access to my money.

    My Customer ID is: 23689382.

    Please advise/help.
  • KazPayoneerKazPayoneer Confirm Email, Member, Administrator Posts: 1,795 ✭✭✭✭✭✭✭

    Hi there, I see our social media team on Twitter is handling this inquiry as well as all of your concerns. Very sorry about any miscommunication or mishaps you've experienced.

This discussion has been closed.