Payoneer is now a card issuer - FAQ

Leonid_PayoneerLeonid_Payoneer Administrator Posts: 631 ✭✭✭

Starting September 2, 2020 Payoneer is moving all its Prepaid Mastercard from Wirecard Solutions Limited to Payoneer Europe Limited.
It affects both existing cards and all new cards that will be issued by Payoneer Europe right away.
There will be no change in the way you use your card or fees.

Why there is a change?

Two separate events affect this decision:

• Following the situation with Wirecard, Payoneer decided that it is time to become a card issuer. This way we can ensure that we can provide our customers with the service they need while keeping your funds completely secure in safeguard accounts managed by Payoneer Europe.
• Resulting in the separation of the United Kingdom from the EU we were working for a solution to continue providing customers with our card service at all jurisdictions and complying with new European regulations.

Do I need to provide any documents?

In general no.
However, we’ve sent an email to relevant customers asking to provide documents for compliance reasons. If you already did so, rest assured that our approval department will review your documents and reach you out directly if there is anything else needed.

Can I keep the card?
It is possible, but we need to be sure that you have submitted all the required document are submitted in account. If this is the case, you can contact Payoneer Customer Care and ask to keep the existing card open.

Comments

  • Leonid_PayoneerLeonid_Payoneer Administrator Posts: 631 ✭✭✭

    Hi all, we understand your concerns and doing our best to make approval process smoother and faster for our valued customers.

    Answering few points raised here:
    1. Our Approval Department won't provide the answer right away. It may take some time for us to review your documents and sometimes we may request additional information. In order to ger your document approved faster, please make sure that your documents comply with our requirements.
    2. The reasons for declining your documents might be different, including, but not limited to insufficient quality, irrelevant type of document or not having all the information required. If the email sent by Approval department is not clear, it is better to contact Customer Care for clarifications.
    3. There is no option in which you'll lose an access to your funds. Even if your card will be closed, your funds should be moved to your currency balance. If there is not such balance, it will be issued for you. Once moved, you can send or withdraw your funds whenever you need it or even order another card once document requirements fulfilled.

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