Wirecard issues and Payoneer

TimelyHedgehogTimelyHedgehog Member Posts: 1
edited June 2020 in Ask The Community
Hi,

Wirecard is on the news, its CEO resigned and the stock crashed due to failing regulatory checks with 1.9B$ missing/unaccounted for. https://www.wsj.com/articles/mystery-surrounding-wirecards-missing-2-billion-deepens-as-banks-say-they-dont-have-it-11592562966


My Payoneer card is issued by Wirecard Card Solutions Ltd. What role does Wirecard play in regards to our Payoneer funds? Is our money safe and why?

Thank you.
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Comments

  • slivaroslivaro Member Posts: 12 ✭✭
    Hello,

    I just saw the news and I am asking the same, Is our money in jeopardy here?

    Any statement from Payoneer regarding the current situation is appreciated.
  • Leonid_PayoneerLeonid_Payoneer Administrator Posts: 631 ✭✭✭

    Hi,

    In regards to recent news reports about Wirecard, we can confirm that the funds stored on your Payoneer Prepaid MasterCard® Card are safe and secure. Your Payoneer Prepaid MasterCard® Card is an e-money product issued by Wirecard Card Solutions Limited, regulated in the United Kingdom by the FCA (Financial Conduct Authority), reference (900051). As an authorized e-money issuer, Wirecard Card Solutions Limited complies with the requirements of UK Electronic Money Regulations 2011, which are designed to ensure the safety of the funds stored on your card. Even in the unlikely event of insolvency of Wirecard Card Solutions Limited, the funds held on your card would remain secure as they are held in safeguarded accounts at regulated credit institutions in the EEA and designated as customer funds.

  • emilmatei_roemilmatei_ro Member Posts: 28 ✭✭
    Hi

    Will Payoneer issue another card in case of Wirecard insolvency?
  • slivaroslivaro Member Posts: 12 ✭✭
    Here you can read more on UK Electronic Money Regulations 2011 in the case of insolvency: http://www.legislation.gov.uk/uksi/2011/99/regulation/24/made
  • emilmatei_roemilmatei_ro Member Posts: 28 ✭✭
    sure, my question is if Payoneer is prepared to replace the prepaid cards issued by Wirecard if they suddenly stop working? they've been proactive with Brexit, hopefully they're working on a solution to avoid any disturbance of the service.
  • slivaroslivaro Member Posts: 12 ✭✭
    Someone from Payoneer staff can answer that. I hope they have alternatives.
  • nikolapridanikolaprida Member Posts: 2
    Hi, I would like to know if you plan to change the bank in the future or what happens with future payments and current money
  • fp12fp12 Member Posts: 2
    edited June 2020
    WireCard has now filed for insolvency: https://www.theguardian.com/business/2020/jun/25/wirecard-files-for-insolvency-amid-german-accounting-scandal

    Given how much payoneer relies on them to hold our funds, I believe the current response by the company is **totally unacceptable**. I would expect Payoneer to explain what measures are being taken to ensure there won't be issues now or later, and maybe take steps to replace your current e-money issuer and issue new cards.
  • bubadubabubaduba Member Posts: 21 ✭✭
    I think a lot of us are interested in this topic. Fully expecting our cards to stop functioning soon and Payoneer will have to reissue new ones from another provider or stop offering prepaid cards altogether.

    Wirecard is on track to stop existing.
  • Leonid_PayoneerLeonid_Payoneer Administrator Posts: 631 ✭✭✭

    We completely understand the concerns raised in this thread.
    We've prepared this blog post to explain the situation better and answer how Payoneer is making sure that our clients' funds are secure.

  • bubadubabubaduba Member Posts: 21 ✭✭
    This is why Payoneer is the best! Thanks for the fast reaction and hopefully you can find alternative card issuers in future just so our Prepaid cards are extra safe. Thanks!
  • slivaroslivaro Member Posts: 12 ✭✭
    > @Leonid_Payoneer said:
    > We completely understand the concerns raised in this thread.
    > We've prepared this blog post to explain the situation better and answer how Payoneer is making sure that our clients' funds are secure.

    Thanks for the update, appreciate it!
  • vino97vino97 Member Posts: 15 ✭✭
    Hi,

    Thanks again to Payoneer for answering our questions on all of these concerns.

    But I have one that has not yet been asked and which seems to depend on the future of Wirecard : our receiving accounts in EUR from the Global Payment Service.

    Details about these receiving accounts are provided by Wirecard Bank AG. What does this mean for the availability of global payment services on SEPA transactions? Can we continue to provide these informations to our customers for our future payments? Or will the global payment services in EUR be temporary interrupted?

    Thank you.
  • nicknicknicknicknicknick Member Posts: 2
    Yes, the global payment service it's a good question indeed. I asked about the card but forgot to mention the account itself.
  • vino97vino97 Member Posts: 15 ✭✭
    I went through the blog post again, and read in the section 4 of the FAQ that if it were to happen, we could still get paid into our Payoneer account, and hold funds in our EUR balance.

    This may mean that the Global Payment Service in EUR will always be available with actual bank informations no matter what happen to Wirecard Bank AG. But more clarification from Payoneer about this is welcome.
  • Leonid_PayoneerLeonid_Payoneer Administrator Posts: 631 ✭✭✭

    @vino97 said:
    Hi,

    Thanks again to Payoneer for answering our questions on all of these concerns.

    But I have one that has not yet been asked and which seems to depend on the future of Wirecard : our receiving accounts in EUR from the Global Payment Service.

    Details about these receiving accounts are provided by Wirecard Bank AG. What does this mean for the availability of global payment services on SEPA transactions? Can we continue to provide these informations to our customers for our future payments? Or will the global payment services in EUR be temporary interrupted?

    Thank you.

    Hi @vino97 ,

    Thank you for your question.
    It is a very good point and another question we would like to address.
    Please, find an updated blog about the situation with EUPS details provided by Payoneer.

  • vino97vino97 Member Posts: 15 ✭✭
    @Leonid_Payoneer You are just THE BEST EVER.

    Thank you for all.
  • emilmatei_roemilmatei_ro Member Posts: 28 ✭✭
    I still do not see specific information about the prepaid cards, how safe they are at this moment and if they are expected to stop working.
  • slivaroslivaro Member Posts: 12 ✭✭
    The cards stopped working :disappointed: :
  • MynikMynik Member Posts: 13 ✭✭
    Yep, not working, mine too :(
  • bubadubabubaduba Member Posts: 21 ✭✭
    "The U.K.’s Financial Conduct Authority this morning suspended Wirecard’s U.K. subsidiary Wirecard Card Solutions (WCS) Limited."

    RIP our prepaid cards.
  • heneshenes Member Posts: 9
    hı everybody ı want to ask
    I opened my payoneer account in 2017 but never used it. no action was taken.ı didn't use card.

    do i have a debt ?
  • vino97vino97 Member Posts: 15 ✭✭
    Hi,

    Effectively, the cards has stop working. You can read this article from FCA to have more informations : https://www.fca.org.uk/news/news-stories/requirements-imposed-wirecard-authorisation

    I think that Payoneer and all the other Wirecard partners are as disappointed as we are. But I trust Payoneer. They can (and they will) solve this problem as soon as possible.

    Let's just give them time to do it.
  • brynebryne Member Posts: 7
    cannot withdraw funds to my local bank account. Spoke with customers service.. it is because of the credit card issue. It started to smell not good.
  • K12ANK12AN Member Posts: 2
    https://www.prestwichandwhitefieldguide.co.uk/news/national/18544877.thousands-locked-bank-accounts-regulator-freezes-wirecard-uk/
  • kerkribikerkribi Member Posts: 3
    I have transfered most of my euros inton the usd account card as the usd account is Bank of America but even this account does not work anymore.....
  • kerkribikerkribi Member Posts: 3
    Why did the FCA take this action now?
    The FCA is the UK’s designated competent authority, responsible for granting firms based in the UK, permissions to undertake e-money activities and payment services and, it is within the FCA’s power to take supervisory action in certain cases to protect the interests of a firm’s customers. Under the EMRs, the FCA may impose such requirements as it considers appropriate which may require a firm to (a) take a specified action; or (b) refrain from taking a specified action. These types of requirements are known as ‘Own Initiative Requirements (OIREQ)’.

    Our primary objective is to protect the interests and money of consumers who use Wirecard. Following last week’s news of €1.9 billion missing from the accounts of the German company, Wirecard, we immediately placed requirements on the firm’s UK business so that it should not pay out or reduce any money it holds for its customers except on their instructions. We have been working closely with Wirecard UK and other authorities over the past few days to take action that protects consumers. We are continuing to do this and on 26 June, we took additional measures to require the firm to cease all regulated activities in order to further protect customer money. This now means customers money cannot be accessed.
  • fp12fp12 Member Posts: 2
    @Leonid_Payoneer we do need an update, and might be best to make it public without having to personally reply to each one of us on the chat.
  • nicoDukenicoDuke Member Posts: 2
    edited June 2020
    @Leonid_Payoneer
    I agree with fp12. Could you please provide an update on the current situation?

    My wife has money in Payoneer and she uses the Payoneer (Wirecard Card Solutions) prepaid card (USD Currency) a lot, meaning that the current Wirecard Card Solutions' situation is impacting us directly.

    1 )What is Payoneer going to do regarding the situation?
    2) Is there a plan to provide, in the short term, access to a prepaid card issued by another company?
    3) Is Wirecard Card Solution's cease of activity imposed by the FCA a temporary measure? I wasn't able to find any details regarding if and when they are going to be able to operate again.

    Thank you very much in advance,

    Nicolas
  • LeshaLesha Member Posts: 1
    > @Leonid_Payoneer said:
    > (Quote)
    > Hi @vino97 ,
    >
    > Thank you for your question.
    > It is a very good point and another question we would like to address.
    > Please, find an updated blog about the situation with EUPS details provided by Payoneer.

    I can not withdraw money from my USD card. Are those affected too?
  • Nikola11Nikola11 Member Posts: 1
    @Leonid_Payoneer Please let us know how and when Payoneer is going to resolve this issue and when we'll be able to use the funds we have in our account
  • nicoDukenicoDuke Member Posts: 2
    @LEsha,
    I think the USD cards are affected as well. My wife's card is a USD one and it was issued by Wirecard Card Solutions, therefore it is not currently working.
  • igordenigorden Member Posts: 15 ✭✭
    edited June 2020

    The card also stopped working .. Yesterday I still paid Today it is already declined. Definitely need real news from the company

  • Alemovski85Alemovski85 Member Posts: 2
    I just had chat with them - They wrote to me that they are facing technical issues due to the situation with Wirecard. They told me that we don't need to worry and that it will take them a few days to fix all and that they will send us an email as soon as they fix the problem.
  • MarekABMarekAB Member Posts: 3
    Hi guys!
    I can't pay an order through Amazon, do I have the same as yours?
  • igordenigorden Member Posts: 15 ✭✭

    @MarekAB said:
    Hi guys!
    I can't pay an order through Amazon, do I have the same as yours?

    The payment is simply not processed. No matter what and where you pay.

  • kerkribikerkribi Member Posts: 3
    seems that all companies have the same problem ( Holvi Business Mastercard use temporarily suspended
    Dear Holvi Customers & Community,

    Your Holvi Mastercard is temporarily suspended due to recent events in connection with the insolvency of Wirecard AG. We’re now actively working on a solution to restore card usage as soon as possible.

    How did this happen?
    The UK Financial Conduct Authority (FCA) has suspended service for Wirecard Card Solutions Ltd (WDCS) earlier today. WDCS is a subsidiary of Wirecard AG and issues the Holvi Business Mastercard. This decision was taken by the FCA without any prior notice. Holvi is not related to these events but relies on WDCS’ services.)
  • arlainarlain Member Posts: 2
    To make things worst, now we can't access our accounts!!! Payoneer should take responsibility for this and come clean about what is happening. I have my savings in there because I can't withdraw money because of the pandemic, and now I can't lose everything I have earned with my work. I am really, really worried about this...
  • UllielUlliel Member Posts: 7
    I also had troubles logging in, but it seems to be resolved now. It could be that lots of people are freaking out because of Wirecard, so Payoneer is overloaded.
    I hope they do tell the truth, got payments to make these days and other account to make them from.
  • webworkmanwebworkman Member Posts: 15 ✭✭
    Can not whtidraw money at the moment.. Cards are probably dead.
  • UllielUlliel Member Posts: 7
    Quick update: earlier today I couldn’t withdraw to the bank, and right now I tried it and it seems to confirm the transfer... so hopefully it will be ok.
  • hassaan9911hassaan9911 Member Posts: 4
    My payment is in upcoming transaction under review, please guide me how to clear that payment?
  • UllielUlliel Member Posts: 7
    > @webworkman said:
    > Can not whtidraw money at the moment.. Cards are probably dead.

    I chatted with their support earlier, the cards are blocked because of Wirecard insolvency, and they say they’re working on a solution.
  • webworkmanwebworkman Member Posts: 15 ✭✭
    > @Ulliel said:
    > > @webworkman said:
    > > Can not whtidraw money at the moment.. Cards are probably dead.
    >
    > I chatted with their support earlier, the cards are blocked because of Wirecard insolvency, and they say they’re working on a solution.
    >

    But why can not withdraw money than?
  • igordenigorden Member Posts: 15 ✭✭

    ePaymentss also off from 1 February

  • grassidanielgrassidaniel Member Posts: 1
    Update on Blog.
    https://blog.payoneer.com/exclusive/wirecard-prepaid-card-update/
  • webworkmanwebworkman Member Posts: 15 ✭✭
    Love the phrase, 'we believe' ... wtf that means that we can left with no money???
  • MohMortMohMort Member Posts: 24 ✭✭
    edited June 2020
    Personally, as soon as this is over am switching to another platform.
    I can't have my livelihood threatened like that ever again if this isn't solved in the next couple of days, I've bills to pay.

    And yes, agreeing with Lovrata the email you sent us is too late too useless, almost seems intentional, doesn't it?
  • JMilanJMilan Member Posts: 9
    I want to be able to withdraw my funds to my local bank account, as stated in the email. I keep getting an "error" when I try to. Payoneer need to show now they can be trusted or they will be finished in a few days.
  • topfreelancerjatopfreelancerja Member Posts: 5
    > @emilmatei_ro said:
    > The silence indicates that Payoneer doesn't seem to have a risk response even if the Wirecard suspicions have been there for a while. If that's the case, we're asking questions that cannot be answered right now and until they get a partnership with a new company to issue new cards (millions of cards maybe) they can't make an announcement that's more than the standard bs.
    > Still, we're waiting and started looking for alternatives, so Payoneer will likely lose some of the clients as time goes by without communication!

    I do not think so at all. The silence just means that they are working on a solution. They did indicate in their blog post that they are working with other issuers for a solution. Until they have a solution, they cannot say much. The customer service agents may have as much information as we do and can only disperse the information they are given. The people with the answers will not directly interact with any of us. I assume that we will need new cards but I cannot imagine the time it will take to sort that out. So far funds are frozen and Wirecard is under investigation. I am not sure if that may mean we need to wait until that investigation is over. An agent told me when I called today that an audit is being done. Lets us hope and pray that by next week we will have a new card in the mail to us 🤞
  • anranr Member Posts: 1
    I'm speechless. I had just ordered the card last week and received it today. I activated and everything went fine, now I've received the email about Wirecard's disaster and I can't withdraw like all of you here.
    First I feel I've been scammed with the card, I'm sure they knew something was cooking and they kept taking orders. I truly hope the money on the account will be available ASAP.
    Payoneer team, please get your shit together and communicate promptly with your users.
    Will I get back my 30$ for the card?
    Most importantly, is my money on the account safe?
    Thanks.
  • JMilanJMilan Member Posts: 9
    > @topfreelancerja said:
    > > @emilmatei_ro said:
    > Lets us hope and pray that by next week we will have a new card in the mail to us 🤞

    The problem is not having a new card, the problem is some of us have funds in our accounts and we need them to live, and we can't access our hard earned money now, nor by cards, nor withdraws.
  • webworkmanwebworkman Member Posts: 15 ✭✭
    https://www.fca.org.uk/news/news-stories/requirements-imposed-wirecard-authorisation?fbclid=IwAR0j775ep_CXql6PLo53Hnm8v6OFsFRdwxhO4H0mEg09X_-K_f8aCR56Rpo
  • topfreelancerjatopfreelancerja Member Posts: 5
    > @webworkman said:
    > Love the phrase, 'we believe' ... wtf that means that we can left with no money???

    Yes, that is very troublesome. So that means that if the funds are not secured as they believe we will lose our money.
  • unstopabl3unstopabl3 Member Posts: 22 ✭✭

    @Leonid_Payoneer said:
    We completely understand the concerns raised in this thread.
    We've prepared this blog post to explain the situation better and answer how Payoneer is making sure that our clients' funds are secure.

    How can you assure us that our funds are secure? When will we have access to our hard earned money? Can't even withdraw to bank!

    Bank withdrawal don't utilize a credit card so why are you holding our hard earned money?

    Please answer before people including myself start to panic further!

  • lookalinklookalink Member Posts: 3
    Hi, Payoneer sent an email tonight and they said that "These funds, and any others already on your virtual currency balance, are available for bank withdrawal."

    But I tried to withdraw my funds and it didnt work. Someone knows why?
  • mrgoldeneyemrgoldeneye Member Posts: 5
    This is really vexing! I'm from Argentina and transferring to my local bank account without using the card is not only expensive but they ask you for paperwork that you don't have (I get my money from Amazon KDP, and my book listing and balances are not enough for them so I end up not getting my money). The debit card was a solution and I hope they'll reactivate mine or provide another one ASAP (not counting the delay shipping to my country takes, more than usual with COVID).
    I use my Payoneer debit card FOR A LIVING! Please, I hope this is solved really quick.
  • UllielUlliel Member Posts: 7
    > @webworkman said:
    > > @Ulliel said:
    > > > @webworkman said:
    > > > Can not whtidraw money at the moment.. Cards are probably dead.
    > >
    > > I chatted with their support earlier, the cards are blocked because of Wirecard insolvency, and they say they’re working on a solution.
    > >
    >
    > But why can not withdraw money than?

    I also received an error earlier today when I wanted to withdraw to my bank account but a few hours ago it went through. I will know in a couple of days if the money made it to my bank..
    the cards aren’t going to work until they figure out a way to change Wirecard to another company, I’m guessing. I’m pretty sure that insolvency surprises Payoneer management as much as it surprises the rest of us.
  • xteraxtera Member Posts: 12 ✭✭

    Yeah, card isn’t working. Tried to pay a domain bill with PayPal. Also the “pay” function seems not working too. And can’t exchange the card balance to eur on Payoneer platform.
    My question is: when can get my funds from card to use all available Payoneer functionalities?

  • hassaan9911hassaan9911 Member Posts: 4
    @Leonid_Payoneer My payment is in upcoming transaction under review, please guide me how to clear that payment?
    Please help!
  • aumartinezaumartinez Member Posts: 3
    NO excuses, NO chit chat, NO "im sorry", give me MY MONEY
  • aumartinezaumartinez Member Posts: 3
    Most people is awaiting to get a new card by next week, it took me a month to get mine, so damn shitty service I choose to get paid, I want MY MONEY!!!!!
  • betzabethbetzabeth Member Posts: 3
    ". Si mi tarjeta Payoneer Mastercard prepaga emitida por Wirecard no está disponible, ¿qué opciones tendría?
    Este es un resultado muy poco probable, pero si ocurriera, aún podría recibir pagos en su cuenta Payoneer y mantener los fondos en su saldo en EUR. Desde allí, puede retirar sus fondos a su cuenta bancaria local, realizar un pago y utilizar otros servicios de Payoneer. Además, actualmente estamos buscando planes de contingencia para garantizar que pueda continuar usando su tarjeta Payoneer Mastercard prepaga sin interrupción."

    Esto es lo que dice en el blog, mi pregunta es: porque no puedo retirar entonces mi dinero a través de mi cuenta bancaria local?
  • ivavitivavit Member Posts: 3
    I use Payoneer to get paid my salary, I hope they provide solution ASAP. I want my funds
  • abdelrahmanmabdelrahmanm Member Posts: 82 ✭✭
    Can't withdraw to bank. And i haven't been notified of this problem since it started.
    How can you send me an e-mail titled "update regarding wirecard" when you haven't even sent me any prior information!!!
    Coming to learn of this just now, I am shocked by the amount of articles written in the past week assuring people that "all money is safe and secure" when you know this is BS.
    I imagine that wirecard will not magically locate its missing 2 billion dollars, so we're stuck here for a while.
    I don't know what to expect now! a new card? a restoration of service? what!
  • betzabethbetzabeth Member Posts: 3
    > @Ulliel said:
    > > @webworkman said:
    > > > @Ulliel said:
    > > > > @webworkman said:
    > > > > Can not whtidraw money at the moment.. Cards are probably dead.
    > > >
    > > > I chatted with their support earlier, the cards are blocked because of Wirecard insolvency, and they say they’re working on a solution.
    > > >
    > >
    > > But why can not withdraw money than?
    >
    > I also received an error earlier today when I wanted to withdraw to my bank account but a few hours ago it went through. I will know in a couple of days if the money made it to my bank..
    > the cards aren’t going to work until they figure out a way to change Wirecard to another company, I’m guessing. I’m pretty sure that insolvency surprises Payoneer management as much as it surprises the rest of us.

    Tu pudiste transferir el dinero a tu cuenta bancaria? Yo no pude son las 7:45pm y lo estoy intentando hace como dos horas
  • lookalinklookalink Member Posts: 3
    @Leonid_Payoneer I have a pending wiretransfer sent to my Payoneer account (my client sent my wirecard ag bank). Do you charge back this transfer to my client?
  • TrustlatorTrustlator Member Posts: 11 ✭✭
    You failed to warn your costumers who pay you a heavy fee from their hard earned money. Many of us depend on the card for their livelihoods and you have had enough time to at least warn us to withdraw whatever funds we had on our accounts in order to have a cushion while you get things working again. Had you done this, our trust in you would have skyrocketed and we would never think of switching to some other payment provider.

    Now that you have failed us, your image and name will forever be tainted.
  • abdelrahmanmabdelrahmanm Member Posts: 82 ✭✭
    > @Trustlator said:
    > You failed to warn your costumers who pay you a heavy fee from their hard earned money. Many of us depend on the card for their livelihoods and you have had enough time to at least warn us to withdraw whatever funds we had on our accounts in order to have a cushion while you get things working again. Had you done this, our trust in you would have skyrocketed and we would never think of switching to some other payment provider.
    >
    > Now that you have failed us, your image and name will forever be tainted.

    Agreed. No warnings were sent to users. I don't imagine people will recover from this incident regardless of time passing. No warnings were given!
  • Gennady123Gennady123 Member Posts: 9 ✭✭
    It turns out, that additionally to doing our own jobs, we should also track all world financial news because Payoneer did not care to warn us that Wirecard had some problems. I am a programmer, I don't live in Germany, don't invest in stocks, how I was supposed to know?
  • abdelrahmanmabdelrahmanm Member Posts: 82 ✭✭
    edited June 2020
    These are the potential outcomes:
    1- Service continuity using old cards (unlikely). Since the cards are tied to wirecard, the FCA will rely on the safeguards in place to help affected users, and thus will not consider some financial sorcery to restore original card functionality. Given that wirecard books are missing 2 Billion dollars. The possibility of allowing transactions from within this company is extremely minuscule.

    2- service continuity using newer cards (more likely). We'll have to wait on payoneer to make the required arrangements, and move their service to a new card issuer. If the halt in service does not impact payoneer iteslf, then funds will probably remain un-affected and will be transferred to newer cards when ready. This is equivalent to starting from scratch and might affect service availability, terms of service, and extend card issuance time.

    3- service continuity without reimbursing users. I know we've been re-assured many times that "money is safe and secure". But the facts remain that a- we did NOT receive warnings prior to denial of service which is the main trait of a shady organization. b- past promises to maintain card functionality were not kept.
  • gta4lifegta4life Member Posts: 2
    My balance is not on my card, is there any way i can withdraw it? because currently the normal withdrawal procedure is not working...
    And does wirecard issue effect me? My balance is not on my card, as i received the payment on friday, meaning after the wirecard issue started...
  • abdelrahmanmabdelrahmanm Member Posts: 82 ✭✭
    > @gta4life said:
    > My balance is not on my card, is there any way i can withdraw it? because currently the normal withdrawal procedure is not working...
    > And does wirecard issue effect me? My balance is not on my card, as i received the payment on friday, meaning after the wirecard issue started...

    If the money's in your account (you can see the value) then i suggest trying to withdraw to your bank. My own attempts haven't been successful so far.
  • gta4lifegta4life Member Posts: 2
    > @abdelrahmanm said:
    > > @gta4life said:
    > > My balance is not on my card, is there any way i can withdraw it? because currently the normal withdrawal procedure is not working...
    > > And does wirecard issue effect me? My balance is not on my card, as i received the payment on friday, meaning after the wirecard issue started...
    >
    > If the money's in your account (you can see the value) then i suggest trying to withdraw to your bank. My own attempts haven't been successful so far.

    Yes i am trying but its not working, it just shows an error at the last step....
  • abdelrahmanmabdelrahmanm Member Posts: 82 ✭✭
    We demand an update for why bank withdrawals aren't working. When will the service be continued. Will old cards work again.
    This is the least you can do for not warning us in advance.
  • webdeveloperwebdeveloper Member Posts: 10 ✭✭
    edited June 2020
    I would like to understand something.
    This thread started on 20th June, about Wirecard issue.
    On 25th June, @Leonid_Payoneer placed a link to a blog dated 23rd June stating that our funds are 'Safe and secure'
    On 25th June, Payoneer service still received funds to the accounts and I send my money from Upwork to Payoneer without problem.

    So people already had issues using the cards, and Payoneer continued receiving money without blocking transactions, without any warnings.

    Why? This can only be explained by malicious intentions to accummulate as much money as possible from unaware customers.

    Why does Payoneer behave like a scam pyramid company?
  • abdelrahmanmabdelrahmanm Member Posts: 82 ✭✭
    edited June 2020
    > @webdeveloper said:
    > I would like to understand something.
    > This thread started on 20th June, about Wirecard issue.
    > On 25th June, Leonid_Payoneer placed a link to a blog dated 23rd June stating that our funds are 'Safe and secure'
    > On 25th June, Payoneer service still received funds to the accounts and I send my money from Upwork to Payoneer without problem.
    >
    > So people already had issues using the cards, and Payoneer continued receiving money without blocking transactions, without any warnings.
    >
    > Why? This can only be explained by malicious intentions to accummulate as much money as possible from unaware customers.
    >
    > Why does Payoneer behave like a scam pyramid company?
    >

    Payoneer will STILL receive payments without blocking transactions. The money can go in for now, but can't go out. Could be the system is overloaded now that everyone is trying to withdraw to their banks.
    You're right about the lack of warning. The only worse thing they could've done is not issue a statement at all. But I imagine they're in a place they don't want to be in right now, and so are we unfortunately.
  • webdeveloperwebdeveloper Member Posts: 10 ✭✭
    edited June 2020
    @abdelrahmanm, there are limitations for some countries, like Ukraine - a user can only withdraw their money if the balance exceeds $200. If under that amount, there is even no option to withdraw, so money gets in, with no way out.

    And no one has been warned ever, even now. I am sure thousands of unaware users of Upwork and other freelance platforms are withdrawing their money to Payoneer account and joining our unlucky and unaware guys and girls club.

    Payoneer is just not interested to stop receiving money and they charge their fees on all incoming transactions.
  • Naser2020Naser2020 Member Posts: 2
    I transferred from Upwork yesterday to my card. It is supposed to be loaded in 2 days. Right now Payoneer transactions page show it in Upcoming transaction tab as "Pending". What will happen to this payment?
  • webdeveloperwebdeveloper Member Posts: 10 ✭✭
    > @Naser2020 said:
    > I transferred from Upwork yesterday to my card. It is supposed to be loaded in 2 days. Right now Payoneer transactions page show it in Upcoming transaction tab as "Pending". What will happen to this payment?

    Naser, the money will get to your account and will be frozen there 'Safe and secure' as Payoneer staff call it, without any way to withdraw, until they 'do all they can to resolve the issue'.

    But they also wrote in their blog, that if you want to transfer more money to Payoneer, you are welcome :(
  • Naser2020Naser2020 Member Posts: 2
    Thank you @webdeveloper.

    Is there any way to cancel this transaction before it is completed?
  • MintMistMintMist Member Posts: 53 ✭✭
    Is there any similar scenarios with banks insolvency? Just to see what usually happened in similar situations and what was the result. Because right now we can do nothing - even can't open bank account to try to withdraw money, because of the weekend (when banks do not work)
  • webdeveloperwebdeveloper Member Posts: 10 ✭✭
    > @Naser2020 said:
    > Is there any way to cancel this transaction before it is completed?
    I do not think so, though I am not sure.
    What I am going to do now, is to earn more money with Upwork and withdraw it to my local bank directly :)
    Does not sound like a solution, but realistic.
  • timo123timo123 Member Posts: 11 ✭✭
    If the money is supposedly so safe and secure, why are the bank withdrawals not working (goes to error)?! Nothing to do with the card directly and Payoneer said the money is not in Wirecard's accounts!
  • pablo_bbpablo_bb Member Posts: 1
    Pueden decirme si voy a recuperar mis ahorros o me los van a robar como hizo el gobierno argentino tantas veces

    Ya no se puede confiar ni en Payoneer
  • timo123timo123 Member Posts: 11 ✭✭
    From https://www.fca.org.uk/news/news-stories/requirements-imposed-wirecard-authorisation

    "If you’re struggling to pay for essentials you might be able to get help from a local welfare assistance scheme."

    That's pretty much says it all. When government officials are involved, the speed of resolving issues goes from slow to agonizing, torture like crawl. This could take months to resolve.
  • abdelrahmanmabdelrahmanm Member Posts: 82 ✭✭
    > @timo123 said:
    > From https://www.fca.org.uk/news/news-stories/requirements-imposed-wirecard-authorisation
    >
    > "If you’re struggling to pay for essentials you might be able to get help from a local welfare assistance scheme."
    >
    > That's pretty much says it all. When government officials are involved, the speed of resolving issues goes from slow to agonizing, torture like crawl. This could take months to resolve.

    This is up to Payoneer now. The next time we hear from them there better be some real answers.
  • helmsdeephelmsdeep Member Posts: 8
    > @mrgoldeneye said:
    > This is really vexing! I'm from Argentina and transferring to my local bank account without using the card is not only expensive but they ask you for paperwork that you don't have (I get my money from Amazon KDP, and my book listing and balances are not enough for them so I end up not getting my money).

    Have you tried adding a
    > @pablo_bb said:
    > Pueden decirme si voy a recuperar mis ahorros o me los van a robar como hizo el gobierno argentino tantas veces
    >
    > Ya no se puede confiar ni en Payoneer

    Pablo, yo también soy Argentina y tengo todos mis ahorros en mi cuenta de Payoneer. Si no lo necesitás en este momento para vivir, me parece que lo más sensato es tratar de mantener la calma y ver cómo se resuelve. Tengo saldo que en teoría podría transferir ahora (porque supera el importe que está en la tarjeta), pero pesificarlo en este momento me parece la peor opción. Voy a esperar a ver si nos pueden ofrecer otra tarjeta, y si no veré cómo transferirlo en dólares.
  • MintMistMintMist Member Posts: 53 ✭✭
    > @abdelrahmanm said:

    > This is up to Payoneer now. The next time we hear from them there better be some real answers.

    Not answers, but we need some plan from Payoneer - that we can understand what will be next steps to solve problem (i guess least they can do at first stage is make it possible to withdraw to bank account).
  • khyzerrajputkhyzerrajput Member Posts: 1
    And what about the new funds we get into Payoneer? Will Payoneer accept new payments and if yes then are those funds secure?
  • webdeveloperwebdeveloper Member Posts: 10 ✭✭
    Finally, after I transferred the money from Upwork to Payoneer, I received this "warning' from Upwork.

    Quote from upwork email:
    ------------------------------
    We are writing to address recent news about Wirecard AG and your Payoneer card.

    Wirecard AG filed for insolvency on June 23, 2020, and this morning the UK Financial Conduct Authority (FCA) issued temporary restrictions on Wirecard Card Solutions Limited (WCSL), Wirecard AG's subsidiary, freezing all card activity.

    Since your Payoneer Prepaid MasterCard is an e-money product issued by Wirecard, this means you cannot receive new payments to the card or withdraw funds using the card. The FCA has taken these preventive measures to protect Wirecard customers like you while they continue their investigation.

    Rest assured, however, that this is our top priority and we have been working closely with Payoneer and come up with a solution. Payoneer has advised that any new funds sent to your Payoneer account can be withdrawn to your bank account.

    You can view FAQs about this issue in our Payoneer help article. Payoneer has also assured us that their customer support team is available and prepared to answer any questions. If you have additional questions, please contact them directly.

    We will keep you posted with any updates we receive. Thanks for your understanding.

    Best,
    Upwork Payment Team
  • abdelrahmanmabdelrahmanm Member Posts: 82 ✭✭
    > @webdeveloper said:
    > Finally, after I transferred the money from Upwork to Payoneer, I received this "warning' from Upwork.
    >
    > Quote from upwork email:
    > ------------------------------
    > We are writing to address recent news about Wirecard AG and your Payoneer card.
    >
    > Wirecard AG filed for insolvency on June 23, 2020, and this morning the UK Financial Conduct Authority (FCA) issued temporary restrictions on Wirecard Card Solutions Limited (WCSL), Wirecard AG's subsidiary, freezing all card activity.
    >
    > Since your Payoneer Prepaid MasterCard is an e-money product issued by Wirecard, this means you cannot receive new payments to the card or withdraw funds using the card. The FCA has taken these preventive measures to protect Wirecard customers like you while they continue their investigation.
    >
    > Rest assured, however, that this is our top priority and we have been working closely with Payoneer and come up with a solution. Payoneer has advised that any new funds sent to your Payoneer account can be withdrawn to your bank account.
    >
    > You can view FAQs about this issue in our Payoneer help article. Payoneer has also assured us that their customer support team is available and prepared to answer any questions. If you have additional questions, please contact them directly.
    >
    > We will keep you posted with any updates we receive. Thanks for your understanding.
    >
    > Best,
    > Upwork Payment Team

    This essentially translates to: Everything's normal, no changes. Please talk to Payoneer if you face any problems.
  • queenmercedesqueenmercedes Member Posts: 2
    Withdrew money from Fiverr to Payoneer today, and immediately withdrew from Payoneer to local bank account. Everything went just fine, no errors, no warning e-mails. I have never had a card, so, I guess, this affects only cardholders who had some money on their cards during all this Wirecard scandal. All new payments been proceeded and could be transfered as usual.
  • engsalengsal Member Posts: 2
    edited June 2020
    I can't withdraw money to my bank account. I have my savings in the account in USD. I have tried multiple times and it gives me an error.
  • helmsdeephelmsdeep Member Posts: 8
    I think the system might be overloaded because lots of people are trying to withdraw money in a panic.
  • timo123timo123 Member Posts: 11 ✭✭
    The good news is that the Wirecard fraud seems to be a case of inflated earnings and revenues. In other words they cooked the books big time to look good for investors but NOT likely siphoned customers' money out to some shady offshore account.

    If they did then the banks involved would have broken the laws too, concerning seggregated client accounts.
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