Can i use Payoneer for Savings?

saifandseo

I run a small agency and have side job at the same time. I get paid by payoneer from my clients and job. I am from thrid world country and the currency value is not stable in here.

So, i am thinking of not cashing out my USD to local currency but keep it in payoneer as USD. So basically using Payoneer for long time savings account.

Question is, how safe it is?
What will happen if somehow account gets banned and I lose all my money in there? Can i recover it?
What are the most common reseaons for people like me getting the account banned?

Thank You big time for the answers in advance.

Kiara_Payoneer

Hi @saifandseo ! You can easily use Payoneer for you savings but please note that there is an inactivity fee of $29.95, which is charged if there are no incoming payments to your account within the last 12 months.

Unfortunately, we cannot guarantee the state of your account during your activity in Payoneer, we can recommend you read our Terms and Conditions, so you can make sure you're following the "right path" and avoid inconveniences.

If you have any other questions feel free to send your question or request to our Customer Support Center

sherif22

Hi there,
I have a question please, I'm wondering if I can keep my payments for a long time without withdrawal to a bank account? (actually more like a saving account), is that something possible? I used to use Paypal for my freelancing work but it's a must to automatic withdrawal every month, I think it's due to strict rules with the gov here, I'm located in Egypt if that matters btw.
Thanks

Kiara_Payoneer

Hi @sherif22, I took the liberty as moderator to move your question to this post as I think the answer will help you. Please check above.