What if my transaction got declined?
We can understand that it is very frustrating when a transaction from your Payoneer card gets declined or when it is in preauthorization status and not released! We are here to shed some light on a **few reasons why this can happen and what to do in each case. **
- First, we want to emphasize that the Payoneer card is a pre-paid debit card and not a credit card. This means that if you do not have a balance on your card, it will be declined!
- Furthermore, you will need to have **sufficient funds on your card to cover both the transaction amount as well as any corresponding fees. **The fees we are referring to can be either the currency conversion fee or the cross-border fee. For example, if your card balance is $5 and you are trying to pay something for that exact amount, it will be declined- even if you have the amount to cover the transaction.
- The same thing goes for withdrawing via an ATM. If you are trying to withdraw that exact amount, it will be declined because the system will recognize that you do not have the funds to cover the fixed Payoneer ATM fee, conversion fees, or even the fees imposed by the ATM itself.
- In any case, you can check your online account for a detailed list of the fee structure.
- The same thing goes to using your card overseas. It may very well be that some cards are not recognized internationally and accept only certain types of cards. In such a case, we advise you to withdraw the cash from an ATM prior to your trip.
- Now what happens if you have sufficient funds, the merchant accepts this type of card and it is still declined? It can be because the merchant is related to online gambling, crypto currencies, or other merchants that are not in line with our Terms of Service. Due to business considerations and policies imposed by both Payoneer and our regulators, we are unable to authorize such transactions.
- **You can view the Terms and Conditions through your online Payoneer Account. **Once logged in, click on Terms & Conditions at the bottom of the page to view them.
Another case that arises often are transactions that are called “outstanding authorizations.” First, we want to define what this is and why it happens because we can understand it can be a very confusing topic. An outstanding authorization is when a merchant places a hold on a certain amount of funds on your card in order to verify that you have sufficient funds to pay for the transaction. Some merchants will place large holds on your card-depending on the transaction.
- This is especially true for gas stations.
- If the amount pre-authorized is bigger than the actual transaction amount, the remaining funds may be held for several days before being released back to your available balance (the number of days depends on the merchant type).
Depending on the transaction, funds can be held anywhere between 7 to 30 days. You can even check the preauthorization release date on your online account. For every outstanding authorization, there is a settlement date which is the last date by which the merchant will need to release or charge the funds. Payoneer does not have a way of knowing when or whether it will be released before the settlement date- it is best to contact the merchant for more answers. Please note that if this outstanding authorization is from an ATM, we unfortunately have no control over it and cannot assist in releasing it. The best solution is to contact the ATM operator or bank directly.
We are attaching here two blogs that may help in both cases. This one sheds like on reasons your card transaction may be declined: https://payoneer.custhelp.com/app/answers/detail/a_id/6056/kw/transaction
This following blog is regarding outstanding authorizations and instructions on how to release it: https://payoneer.custhelp.com/app/answers/detail/a_id/33998/kw/transaction
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