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Wirecard issues and Payoneer

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Comments

  • cutie
    cutie Member Posts: 15 ✭✭

    I am able to successfully withdraw the funds to my bank account ,and they have arrived as well,ty

  • badbadger
    badbadger Member Posts: 30 ✭✭
    > @Trinity said:
    > (Quote)
    > Happy now?

    Almost :)
  • FoxtrotDelta
    FoxtrotDelta Member Posts: 10 ✭✭
    > @MohMort said:
    > @FoxtrotDelta
    > I may be paranoid, but unlike you I'm not naive, I take my hat off when I get results, not words.

    Lets agree to disagree, i care about intensions and you actions. :)
  • Canyones
    Canyones Member Posts: 6 ✭
    Expectedly announcement.

    Wirecard Vows to Continue With Activities Amid Insolvency Steps - Bloomberg news
  • Canyones
    Canyones Member Posts: 6 ✭
    Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.

    Wirecard AG expects its provisional insolvency administrator to be appointed shortly as the scandal-hit payment company said its business activities will continue.

    Once lauded as one of Germany’s most successful up-and-coming businesses, Wirecard filed for insolvency on Thursday after the company said that 1.9 billion euros ($2.1 billion) previously reported as cash on its balance sheet probably doesn’t exist.

    In a statement on Saturday, the company said its management board believes continuation of operations “is in the best interests of the creditors.” That includes its banking unit, which is currently not part of the insolvency proceedings.

    “The electronic funds transfer of Wirecard Bank are not affected,” the company said in the statement. “Payouts to merchants of Wirecard Bank will continue to be executed without restrictions.”

    Wirecard said on Thursday it’s ceding control of funds at its banking unit after Germany’s financial regulator stepped in to prevent the money from being deployed elsewhere at the company. Wirecard Bank AG is not part of that process and BaFin -- as the watchdog is known -- has appointed a special representative for the unit.

    How German Fintech Darling Wirecard Fell From Grace: QuickTake

    The fallout from the company’s shocking collapse reverberated over the weekend after Germany’s state-owned development bank KfW said it’s facing potential losses of 100 million euros from a credit line that its unit granted the company in September 2018.

    Other banks are on the hook for about 1.6 billion euros in loans, people familiar with the matter have said. The group of more than a dozen lenders led by ABN Amro Bank NV, Commerzbank AG and ING Groep NV were in negotiations with Wirecard aimed at keeping it afloat and were surprised by the insolvency filing, Bloomberg has reported.

    Despite claims to continue with business as usual, digital bank Curve temporarily froze services, Financial News reported on Friday, citing a company spokesperson. Curve is one of a number of U.K.-based fintech firms that relied on Wirecard’s services.

    Also on Friday Financial Conduct Authority, the U.K.’s financial markets regulator, imposed a number of requirements including that it must not dispose of any assets or funds. Wirecard is not supervised by the FCA.
  • emilmatei_ro
    emilmatei_ro Member Posts: 28 ✭✭
    that's pretty old (2 days ago), just google "yahoo finance wirecard" to see a lot more recent news.
  • cmorgan
    cmorgan Member Posts: 1 ✭
    > @cutie said:
    > I am able to successfully withdraw the funds to my bank account ,and they have arrived as well,ty

    Are you talking about Payoneer balance, or card balance?
  • tropicalfrog
    tropicalfrog Member Posts: 3 ✭
    edited June 2020
    https://www.youtube.com/watch?v=CkbMv-7AaMQ&feature=emb_logo
    That's good news. Anyway let's think as grown-up entrepreneurs. If a business fails because it has only one client, or one supplier in a critical resource, should it be product of financial service, it means the business is fragile. We can't have all the advantages of a free market and a 100% regulated economy at the same time (be sure I'm also talking to myself...)
    Stay safe and good luck.
  • bubaduba
    bubaduba Member Posts: 21 ✭✭
    MORE GOOD NEWS, GUYS!

    FCA:

    "We have been working closely with Wirecard UK and other authorities over the last few days to ensure that the firm was able to meet certain conditions required to lift the restrictions we imposed on it. We are now in a position to allow Wirecard to resume operational activity.

    This means customers will now, or very shortly, be able to use their cards as usual.

    If any customers are still experiencing difficulties in using their card, they should contact their card provider directly and should do so using the contact details on their website.

    We know that some people may have faced difficulties over the weekend and we worked with DWP, HMT and the Home Office in order to help anyone suffering financial distress. Anyone who is still in difficulties should see our website for more details."

    https://www.fca.org.uk/news/statements/fca-statement-wirecard
  • Drake7018
    Drake7018 Member Posts: 4 ✭
    That's some good news
  • FoxtrotDelta
    FoxtrotDelta Member Posts: 10 ✭✭
    Glad now payoneer doesn't have to put money from its own pocket hopefully by the looks of it
  • user7842332
    user7842332 Member Posts: 22 ✭✭

    https://www.fca.org.uk/news/news-stories/requirements-imposed-wirecard-authorisation

    On 29 June 2020, the FCA provided written consent to allow Wirecard to resume issuing e-money and providing payment services. The restriction on activities will lift at 00.01 on 30 June 2020.

  • abdelrahmanm
    abdelrahmanm Member Posts: 87 ✭✭
    edited June 2020

    Good news everyone!

    We have been working closely with Wirecard UK and other authorities over the last few days to ensure that the firm was able to meet certain conditions required to lift the restrictions we imposed on it. We are now in a position to allow Wirecard to resume operational activity.

    This means customers will now, or very shortly, be able to use their cards as usual.

    If any customers are still experiencing difficulties in using their card, they should contact their card provider directly and should do so using the contact details on their website.

    We know that some people may have faced difficulties over the weekend and we worked with DWP, HMT and the Home Office in order to help anyone suffering financial distress. Anyone who is still in difficulties should see our website for more details.

    We continue to work with the firm and are monitoring it closely to ensure it meets the conditions we have imposed and continues to protect consumers money. Find out more information.

  • astridmach
    astridmach Member Posts: 32 ✭✭
    https://youtu.be/CkbMv-7AaMQ

    That's what the CEO said one hour ago
  • tagrendy
    tagrendy Member Posts: 7 ✭
    The funds will be unfrozen in a few hours!!!
  • dpx
    dpx Member Posts: 21 ✭✭
    That's amazing news.
  • JMilan
    JMilan Member Posts: 9 ✭
    Great news! As I said earlier, this is a great opportunity to show the commitment to the customers. I will continue with Payoneer, and no, I will not run to withdraw the funds.
  • Tracert
    Tracert Member Posts: 18 ✭✭
    edited June 2020
    On 29 June 2020, the FCA provided written consent to allow Wirecard to resume issuing e-money and providing payment services. The restriction on activities will lift at 00.01 on 30 June 2020.

    https://www.fca.org.uk/news/news-stories/requirements-imposed-wirecard-authorisation?fbclid=IwAR39wQw5OC3sN9HOIDRCx1vdtDRtmfFFOGEz1N2hzjTbh3zDRFWsV13zqik
  • abdelrahmanm
    abdelrahmanm Member Posts: 87 ✭✭

    Hi everyone. Following our ongoing updates on the current situation with Wirecard, we are happy to share that the UK Financial Conduct Authority has declared Wirecard can resume regulated activity at 00:01 on June 30, London time.

    You can read the full update from the UK FCA in the link below. Please make sure to continue following our official media channels for updates in the coming hours on what this means for Payoneer customers, and what steps you can take to access the funds on your Payoneer cards.

  • slivaro
    slivaro Member Posts: 12 ✭✭

    Great news! I’m pleasantly surprised by the fast pace things moved forward.
    Many of us maybe overacted but we trusted Payoneer with all of our savings, I won’t empty my balance tomorrow to show support and trust in Payoneer.

  • perspec
    perspec Member Posts: 14 ✭✭

    Great news!, I will continue to use payoneer for sure as it has been the best option for me for years

  • suB
    suB Member Posts: 5 ✭
    Thank you Payoneer for such great news! I was confident things would resolve favourably and quickly.
  • vino97
    vino97 Member Posts: 15 ✭✭
    TIME. That's all they needed. Now we can all take a breath. But let that teach us a good lesson as well. Let's be confident and be as farsighted.

    Thank to Payoneer. Keep us update for the next steps !
  • perspec
    perspec Member Posts: 14 ✭✭

    Will we be able to use all services, including converting currencies and making transfers between users?

  • perspec
    perspec Member Posts: 14 ✭✭

    Just saw that only atm and pos will be available today, and the rest of the features will be available on July 6th

  • abdelrahmanm
    abdelrahmanm Member Posts: 87 ✭✭

    Payoneer on twitter

    Hi everyone, we're glad to announce that the FCA"s card freeze has been lifted. You will be able to use the card at an ATM, POS, or online. The additional features (withdraw to bank, make a payment) are unavailable until July 6. Thanks for staying with us through this.

  • badbadger
    badbadger Member Posts: 30 ✭✭
    > @user7842332 said:
    > https://www.fca.org.uk/news/news-stories/requirements-imposed-wirecard-authorisation
    >
    > On 29 June 2020, the FCA provided written consent to allow Wirecard to resume issuing e-money and providing payment services. The restriction on activities will lift at 00.01 on 30 June 2020.

    what time zone?
  • IsaBi
    IsaBi Member Posts: 4 ✭
    @Leonid_Payoneer

    @Trinity , I understand what you are saying and I appreciate that you are explaining thoroughly, which should be Payoneer job by the way. But I don't find it correct that we have to be responsible for their third party fault. We have a deal with Payoneer as customers and we should not be affected by the issues caused by the partners that they choose. I signed up with Payoneer and not with a third party.
    Besides, what if this money I have on my Payoneer balance was everything I owned?? how would I be able to survive? This situation is absolutely unacceptable. And regardless of everybody's personal situation, it is the principle that is completely outrageous. They simply cannot refuse to let us use our money. Period. And I don't accept that they are "working hard". They should expect this kinds of situation and have a plan in place to make sure their clients (us) are not affected.
  • abdelrahmanm
    abdelrahmanm Member Posts: 87 ✭✭

    @IsaBi said:
    @Leonid_Payoneer

    @Trinity , I understand what you are saying and I appreciate that you are explaining thoroughly, which should be Payoneer job by the way. But I don't find it correct that we have to be responsible for their third party fault. We have a deal with Payoneer as customers and we should not be affected by the issues caused by the partners that they choose. I signed up with Payoneer and not with a third party.
    Besides, what if this money I have on my Payoneer balance was everything I owned?? how would I be able to survive? This situation is absolutely unacceptable. And regardless of everybody's personal situation, it is the principle that is completely outrageous. They simply cannot refuse to let us use our money. Period. And I don't accept that they are "working hard". They should expect this kinds of situation and have a plan in place to make sure their clients (us) are not affected.

    The funds have been unfrozen :)

  • Emma20
    Emma20 Member Posts: 2 ✭
    edited June 2020
    Hi everyone, we're glad to announce that the FCA"s card freeze has been lifted. You will be able to use the card at an ATM, POS, or online. The additional features (withdraw to bank, make a payment) are unavailable until July 6. Thanks for staying with us through this.

    Twitter Payoneer
  • unstopabl3
    unstopabl3 Member Posts: 22 ✭✭

    The cards will supposedly start working again after midnight tonight London, UK time.

  • IsaBi
    IsaBi Member Posts: 4 ✭
    > @abdelrahmanm said:
    > (Quote)
    > The funds have been unfrozen :)

    @Emma20

    I have just tried to withdraw to my account and I still get the usual message that they are still frozen.
  • unstopabl3
    unstopabl3 Member Posts: 22 ✭✭

    Has anybody tried using the card yet? Not working for me.

  • badbadger
    badbadger Member Posts: 30 ✭✭

    @unstopabl3 said:
    Has anybody tried using the card yet? Not working for me.

    Still frozen but I can't let it go :)

  • abdelrahmanm
    abdelrahmanm Member Posts: 87 ✭✭

    Give it a few guys.

  • badbadger
    badbadger Member Posts: 30 ✭✭

    @abdelrahmanm said:
    Give it a few guys.

    They expect some delays up to 24 hours

  • serjherman
    serjherman Member Posts: 21 ✭✭

    Not working for me either. I’m risking getting shanked here at night, and Payoneer is toying with me like that. 😑

  • astridmach
    astridmach Member Posts: 32 ✭✭
    Payoneer posted this on Twitter: Hi everyone, we're glad to announce that the FCA"s card freeze has been lifted. You will be able to use the card at an ATM, POS, or online. The additional features (withdraw to bank, make a payment) are unavailable until July 6. Thanks for staying with us through this.
  • Trinity
    Trinity Member Posts: 62 ✭✭

    @IsaBi said:

    @abdelrahmanm said:
    (Quote)
    The funds have been unfrozen :)

    @Emma20

    I have just tried to withdraw to my account and I still get the usual message that they are still frozen.

    Jeez, give it a rest. You like many others here are a victim of both a lack of patience and an unwillingness to read and understand the terms, conditions and procedures you signed up for.

  • tagrendy
    tagrendy Member Posts: 7 ✭
    edited June 2020
    On Wirecard website it says it will take a while for all cards to activate, but should take less than 24 hours.
  • Trinity
    Trinity Member Posts: 62 ✭✭
    edited June 2020

    @serjherman said:
    Not working for me either. I’m risking getting shanked here at night, and Payoneer is toying with me like that. 😑

    @badbadger said:

    @abdelrahmanm said:
    Give it a few guys.

    They expect some delays up to 24 hours

    @badbadger said:

    @unstopabl3 said:
    Has anybody tried using the card yet? Not working for me.


    Still frozen but I can't let it go :)

    @IsaBi said:

    @abdelrahmanm said:
    (Quote)
    The funds have been unfrozen :)

    @Emma20

    I have just tried to withdraw to my account and I still get the usual message that they are still frozen.

    INFORMATION

    Again for the benefit of those that didn't read or understand what has happened in the past few hours.

    It's my understanding that from 00.00 UK time the block on the card has been removed and ATM withdrawals will be available. (Understandably this might not go completely smooth given the high volume of people trying it out etc so please be patient.)

    Additionally, I have read that making payments and transfers of the card balance will be operational from the 6th.

    Hope this helps.

  • Trinity
    Trinity Member Posts: 62 ✭✭

    @tagrendy said:
    On Wirecard website it say it will take a while for all cards to activate, but should take less than 24 hours.

    Thanks :) Good info.

  • EukaNub
    EukaNub Member Posts: 1 ✭
    edited June 2020
    Well the card worked for me. I just used it to order food online and worked (got my food already).

    Although the charge doesn't appear yet on my account, Uber eats processed the payment just fine (which was not possible since Friday).

    I guess the cards are slowly getting activated.
  • moisespujadas
    moisespujadas Member Posts: 21 ✭✭

    To receive a payment while the card is frozen Payoneer created a virtual balance. Do you know where is this virtual balance? I can’t see it in my account.

  • Tracert
    Tracert Member Posts: 18 ✭✭
    https://www.wirecard-cardsolutions.co.uk

    "...There may be a delay before all card programmes are fully operational, so some customers could find themselves unable to transact immediately but we anticipate this lasting no longer than 24 hours..."
  • abdelrahmanm
    abdelrahmanm Member Posts: 87 ✭✭
    edited June 2020

    Be aware that receiving new payments will still go to virtual balance instead of the card. Payoneer intends to produce new cards with a new issuer.

    I wish that Payoneer would allow receiving on cards until they're ready to send new cards. Since there's still no time frame for when new cards will be issued.

  • sarojstha
    sarojstha Member Posts: 9 ✭
    edited June 2020
    @Leonid_Payoneer I could wait my money till it released, however, is it possible to load money again to payoneer and use it to buy services on fiver, renew domain and hostings and pay some other monthly subscriptions?.

    I am using payoneer as I don't have any other options of global payment. And this is making me quite difficult as I need to pay my monthly subscription otherwise the services I am receiving might get interrupted from sunday. Please reply, if there is a way to do that.
  • xtera
    xtera Member Posts: 14 ✭✭

    I tried to pay a domain now and not worked. Maybe will work on next 24hrs? Thanks

  • Meiji
    Meiji Member Posts: 22 ✭✭
    edited June 2020
    It would be best if Payoneer issues the cards in house or finds multiple card issuers.

    This Wirecard situation is not reassuring.

    If we have to deposit the payments into the virtual balance for a couple of days, I am okay with that.
  • webdeveloper
    webdeveloper Member Posts: 10 ✭✭
    Tried 'PrivatBank' ATM in Ukraine, 5 AM, no luck it does not work.
    Tried to pay a domain name, does not work either.
    Other Ukrainian users report ATM does not work for them.
  • mbeloded
    mbeloded Member Posts: 5 ✭
    > @webdeveloper said:
    > Tried 'PrivatBank' ATM in Ukraine, 5 AM, no luck it does not work.
    > Tried to pay a domain name, does not work either.
    > Other Ukrainian users report ATM does not work for them.

    the same for me( I'm not able to withdraw money via Monobank/Privatbank/ATM
  • Leonid_Payoneer
    Leonid_Payoneer Administrator Posts: 544 ✭✭✭
    edited June 2020

    Hi,

    I would like to update you on the situation.
    As previously mentioned, the UK FCA has lifted the freeze of activity on Wirecard Card Solutions in the UK. We are currently in contact with both Wirecard and Mastercard and will update you all as soon as your cards can be used. There are some technical restrictions that Mastercard needs to lift from their end, which will take a bit of time. We expect this to be very soon - within the next 24 hours at the latest.

    In the meantime, you can click on the link below for more details on how to use your card in the coming days, and other important information: https://blog.payoneer.com/home-page/wirecard-in-the-news-update-regarding-wirecard-and-your-prepaid-card/

    I see that there are many questions about using your existing cards in the future.
    We are planning to continue providing the card service for our customers with a new issuer.
    Meanwhile, no new payments will be loaded to existing cards issued by WCSL.

  • emilmatei_ro
    emilmatei_ro Member Posts: 28 ✭✭
    until one of these options will be available I'll keep looking for alternatives: a new card solution, even a virtual one or the possibility to still use the existing cards at our own risk
  • Imnotarobot
    Imnotarobot Member Posts: 22 ✭✭
    "All future payments will continue to be received to your Payoneer currency balance, not your card. Even though the FCA announced that the cards are safe to use, we will offer a new card issuer soon to ensure the long-term safety of your earnings."

    Are you kidding us?
    I just received a payment and I don't have money on the card. I need to withdraw this money. How long should I wait for a new card? Month? Two?
    From today all bank transfers are not available until July 8. What about people with money on their account balance?
    It's not fair. Give us the opportunity to withdraw money to the card or leave them on the account balance.
  • dpx
    dpx Member Posts: 21 ✭✭
    > @Leonid_Payoneer said:
    > We are planning to continue providing the card service for our customers with a new issuer.
    > Meanwhile, no new payments will be loaded to existing cards issued by WCSL.

    Your actions are much appreciated. To be completely honest, only thing 'not feeling right' is that WCSL doesn't have any stain on their business (as far as I am aware) except for being child of a bad parent. I am assuming they wouldn't be allowed to continue operating if they were not squeaky clean. I have full confidence in your plans and judgment so if you say new cards are needed that's how it is, I just don't like the idea of WCSL being punished because of knee jerk reaction of the regulatory body.

    Thanks again to you and rest of the team.
  • AndrewBy
    AndrewBy Member Posts: 3 ✭
    > @Leonid_Payoneer said:
    > We are planning to continue providing the card service for our customers with a new issuer.

    If you introduce a new issuer, for how long we can be using the existing WCSL cards? Will these become inactive at some point? Should we withdraw all funds from the cards ASAP?
    It would be great if you provide an option to MOVE the funds from the cards to Payoneer virtual account.
  • timo123
    timo123 Member Posts: 11 ✭✭
    It looks like the nightmare of Epayments situation was not repeated. FCA certainly was heavy handed towards millions of card users. They could have easily just audited the company with few basic accounting tests like liquid assets vs bank accounts to see whether there was a need to do the block. Then do more detailed, weeks long auditing if necessary, but they decided to do the block first.
  • tagrendy
    tagrendy Member Posts: 7 ✭
    > @Imnotarobot said:
    > "All future payments will continue to be received to your Payoneer currency balance, not your card. Even though the FCA announced that the cards are safe to use, we will offer a new card issuer soon to ensure the long-term safety of your earnings."
    >
    > Are you kidding us?
    > I just received a payment and I don't have money on the card. I need to withdraw this money. How long should I wait for a new card? Month? Two?
    > From today all bank transfers are not available until July 8. What about people with money on their account balance?
    > It's not fair. Give us the opportunity to withdraw money to the card or leave them on the account balance.

    I think the Bank Transfer is not available only from Cards, Virtual Balance to Local Bank should still be an option. I'm not sure though. It would be great if someone from Payoneer clarified.
  • sarojstha
    sarojstha Member Posts: 9 ✭
    Has the Payoneer started to work? Payoneer mentioning that Mastercard Technical restrictions need to be lifted. Any update on that one?
  • Meiji
    Meiji Member Posts: 22 ✭✭
    Hey guys,

    If Payoneer doesn't allow the funds to be loaded in the cards until Payoneer has another issuer, which virtual/card provider you are planning to use especially in countries where PayPal is not supported?



    @Leonid_Payoneer

    Can you give us a rough estimate in days or weeks on how much time it might take for Payoneer to have a functioning card (issued by another issuer) for end users?

    If it is days or even a few weeks, many might be able to wait for you. If it is longer, it would really help us if you clarify that.

    Many of us need to make payments online. Without a card, we won't be able to buy anything and in turn, we won't be able to sell anything, too. This is why we need a rough estimation of time to better understand the impact it is going to have on our living.
  • b345
    b345 Member Posts: 19 ✭✭
    @Leonid_Payoneer

    Payoneer, I believe all users are pleased that the FCA has decided to remove the freeze in such a timely manner. They have done so in order to allow the millions of card users to continue using their cards.

    Now, your decision NOT to allow us to use the cards (meaning to transfer new funds received into accounts directly into the card like normal) is contrary to what FCA has tried to achieve.

    We, the Payoneer users are NOT willing to wait for weeks until you find a new card provider. We want to be able to use our cards with existing funds and NEW funds as soon as the FCA freeze removal is implemented, which is supposed to be 24 hours or less.

    WHEN you find a new card provider, only then you can disable the full functionality of old cards.

    Until then, people need to use their existing cards and be able to receive funds onto them.

    Otherwise, if FCA has given the green light and you, Payoneer PREVENT people from using the cards - how does that look and what does that mean?

    At the moment, Payoneer DOES NOT ALLOW withdrawals until July 6th and Payoneer DOES NOT ALLOW new funds to be transferred into the card. Why, Payoneer? While the FCA has decided to give card owners FULL ACCESS to it's functionality, YOU are now imposing limitations. You need to sort this out.

    Thank you.
  • Trinity
    Trinity Member Posts: 62 ✭✭
    edited June 2020

    @b345 said:
    @Leonid_Payoneer

    Payoneer, I believe all users are pleased that the FCA has decided to remove the freeze in such a timely manner. They have done so in order to allow the millions of card users to continue using their cards.

    Now, your decision NOT to allow us to use the cards (meaning to transfer new funds received into accounts directly into the card like normal) is contrary to what FCA has tried to achieve.

    We, the Payoneer users are NOT willing to wait for weeks until you find a new card provider. We want to be able to use our cards with existing funds and NEW funds as soon as the FCA freeze removal is implemented, which is supposed to be 24 hours or less.

    WHEN you find a new card provider, only then you can disable the full functionality of old cards.

    Until then, people need to use their existing cards and be able to receive funds onto them.

    Otherwise, if FCA has given the green light and you, Payoneer PREVENT people from using the cards - how does that look and what does that mean?

    At the moment, Payoneer DOES NOT ALLOW withdrawals until July 6th and Payoneer DOES NOT ALLOW new funds to be transferred into the card. Why, Payoneer? While the FCA has decided to give card owners FULL ACCESS to it's functionality, YOU are now imposing limitations. You need to sort this out.

    Thank you.

    Listen,

    People stop acting like children, stop being rude and stop drawing your own conclusions made up in your own heads.

    You have no idea what restrictions the FCA put on Wirecard when they released the block. Or for that fact if Mastercard imposed any restrictions. Not allowing the loading of new funds to that card could be one of the conditions imposed by the FCA for all you know. Or Payoneer may be doing it to further protect its users.

    For now, deposits will go into your virtual balance no problem.

    Here's a better question useful that may provide more clarification if answered. @Leonid_Payoneer can maybe clear this up for people that are worried about not being able to withdraw new funds if they are not loaded the card.

    Leonid, Re new deposits arriving in the new virtual account. Can they be withdrawn via bank transfer?

    IE Is the bank transfer that is not available till the 6th of July applicable to overflow and virtual accounts or just to the funds on the cards. Thanks again.

  • MohMort
    MohMort Member Posts: 24 ✭✭
    @Trinity Why are you mad, agent?
  • Trinity
    Trinity Member Posts: 62 ✭✭

    @MohMort said:
    @Trinity Why are you mad, agent?

    What?

  • basketball16
    basketball16 Member Posts: 5 ✭
    I legit think I got> @b345 said:
    > @Leonid_Payoneer
    >
    > Payoneer, I believe all users are pleased that the FCA has decided to remove the freeze in such a timely manner. They have done so in order to allow the millions of card users to continue using their cards.
    >
    > Now, your decision NOT to allow us to use the cards (meaning to transfer new funds received into accounts directly into the card like normal) is contrary to what FCA has tried to achieve.
    >
    > We, the Payoneer users are NOT willing to wait for weeks until you find a new card provider. We want to be able to use our cards with existing funds and NEW funds as soon as the FCA freeze removal is implemented, which is supposed to be 24 hours or less.
    >
    > WHEN you find a new card provider, only then you can disable the full functionality of old cards.
    >
    > Until then, people need to use their existing cards and be able to receive funds onto them.
    >
    > Otherwise, if FCA has given the green light and you, Payoneer PREVENT people from using the cards - how does that look and what does that mean?
    >
    > At the moment, Payoneer DOES NOT ALLOW withdrawals until July 6th and Payoneer DOES NOT ALLOW new funds to be transferred into the card. Why, Payoneer? While the FCA has decided to give card owners FULL ACCESS to it's functionality, YOU are now imposing limitations. You need to sort this out.
    >
    > Thank you.

    Mate you gotta stop phrasing these sentences in such a foul manner. It really hurts reading it. Whether you're aware of it or not, the way you form sentences you flip everything upside down possibly in an attempt to come to terms with your financial or other kinds of insecurities. We've all been assured that Payoneer is working on it. Sooner or later, things will get back to normal.

    I'm honestly just blown away by how you've portrayed the situation, completely twisting it around. Your usage of individual uppercased words in particular is a real work of art. In a devious kind of a way. Things aren't as black and white as you portray them, there are procedures, protocols, and whenever Payoneer makes a statement, don't go refreshing your browsers trying to check if things are exactly as they stated otherwise jump quickly to your chair banging on your keyboard. Give things time god damn it. In real life too.
  • MohMort
    MohMort Member Posts: 24 ✭✭
    You were calling a man concerned about his livelihood idiot and now you edited it out, you seem awfully mad as a 'customer' of Payoneer.
  • emilmatei_ro
    emilmatei_ro Member Posts: 28 ✭✭
    yeah, some "thank you payoneer, great service, we trust you" users are clearly their own people because there's no reason for such messages yet, quite the opposite actually, I feel exactly like @b345 and I'm waiting for more info.. creating a bunch of accounts meanwhile.
  • Trinity
    Trinity Member Posts: 62 ✭✭

    @MohMort said:
    You were calling a man concerned about his livelihood idiot and now you edited it out, you seem awfully mad as a 'customer' of Payoneer.

    He is acting like an idiot. Lots of people are.

  • Ulliel
    Ulliel Member Posts: 7 ✭
    I can confirm that the bank withdrawal I asked for on Friday has completed and the money came in today.

    I read a lot about the scandal with Wirecard and there’s no sign that Payoneer could have known it will happen, in advance, so I’m really starting to believe that the threatening and doom messages in here were made by unstable people or those with ill intentions...

    my only comment to Payoneer is that you should have made your CEO’s video already on Friday morning, and probably best if you had tripled and kept active 24/7 your CS during thIs weekend.

    And my last remark is a painful lesson I learned from this... always keep some cash in the house.
  • VegaAm
    VegaAm Member Posts: 18 ✭✭

    Hey guys,

    From UA forum: people there are saying that the time limit to withdraw money to the bank will be short (but don't identify how short it will be).

    Do you know anything about it?

  • badcats
    badcats Member Posts: 2 ✭
    First they say ‘we won’t wait for FCA and will give you your money.’ And now even though FCA acts fast and removes the ban, Payoneer won’t allow you to make transfer to your bank account until July 6th. Why? I think they said ‘we will pay from our pocket’ just after getting reassurance from FCA, otherwise they wouldn’t bother to change Terms of Service in the first place! I don’t think Payoneer is trustworthy anymore.

    If withdrawing from atm is available, withdrawing to bank account should also be available. I din’t want to wait one week since withdrawing from an atm is not option for me at the moment.

    I also tried to pay with my debit card to transfer balance to Transferwise account. It didn’t work. (Not money transfer, payment with debit card.)
  • abdelrahmanm
    abdelrahmanm Member Posts: 87 ✭✭
    edited June 2020

    @Leonid_Payoneer said:
    Hi,

    I see that there are many questions about using your existing cards in the future.
    We are planning to continue providing the card service for our customers with a new issuer.
    Meanwhile, no new payments will be loaded to existing cards issued by WCSL.

    Is it possible to migrate the old cards to a new issuer?
    If the FCA has no problem with Wirecard, I'm fine using the old one till it expires. Would be a better alternative to waiting without a payment solution until who knows.

    Alternatively, you can provide the option to order a new card from a new issuer, and only then the old one becomes obsolete.

  • dleyton
    dleyton Member Posts: 10 ✭✭
    Things are moving and apparently getting better people, let's avoid making this forum more toxic than it has become already. They promised and they are delivering, all it took was a bit of patience from our side. And no, I'm not a Payoneer bot 😉
  • unstopabl3
    unstopabl3 Member Posts: 22 ✭✭
    edited June 2020

    @badcats said:
    First they say ‘we won’t wait for FCA and will give you your money.’ And now even though FCA acts fast and removes the ban, Payoneer won’t allow you to make transfer to your bank account until July 6th. Why? I think they said ‘we will pay from our pocket’ just after getting reassurance from FCA, otherwise they wouldn’t bother to change Terms of Service in the first place! I don’t think Payoneer is trustworthy anymore.

    If withdrawing from atm is available, withdrawing to bank account should also be available. I din’t want to wait one week since withdrawing from an atm is not option for me at the moment.

    I also tried to pay with my debit card to transfer balance to Transferwise account. It didn’t work. (Not money transfer, payment with debit card.)

    I have a similar view about this whole scenario. After they heard from FCA about the unfreezing of funds at midnight, the Payoneer CEO quickly made that video in order to show how committed they are. Just an act in my opinion, otherwise they would have made that statement earlier.

    It's all talk from Payoneer until things get back to normal. My card is still not working, just tried making an online purchase but it failed.

    Has anybody else had success yet?

  • nisangha
    nisangha Member Posts: 7 ✭
    > @unstopabl3 said:
    > (Quote)
    > I have a similar view about this whole scenario. After they heard from FCA about the unfreezing of funds at midnight, the Payoneer CEO quickly made that video in order to show how committed they are. Just an act in my opinion, otherwise they would have made that statement earlier.
    >
    > It's all talk from Payoneer until things get back to normal. My card is still not working, just tried making an online purchase but it failed.
    >
    > Has anybody else had success yet?

    Patience Patience Patience
  • frenchslator
    frenchslator Member Posts: 1 ✭
    > @unstopabl3 said:
    > (Quote)
    > I have a similar view about this whole scenario. After they heard from FCA about the unfreezing of funds at midnight, the Payoneer CEO quickly made that video in order to show how committed they are. Just an act in my opinion, otherwise they would have made that statement earlier.
    >
    > It's all talk from Payoneer until things get back to normal. My card is still not working, just tried making an online purchase but it failed.
    >
    > Has anybody else had success yet?

    I'm from Paris, this morning my card wasn't working but now it's working (apparently) I have just paid my internet bill. I will keep y'all updated to see if it's working in store/other bills.

    And apparently another guy paid his food with uber eats before, so I guess they are "unfreezing" all the cards progressively.
  • Leonid_Payoneer
    Leonid_Payoneer Administrator Posts: 544 ✭✭✭

    @Trinity said:

    @b345 said:
    @Leonid_Payoneer

    Payoneer, I believe all users are pleased that the FCA has decided to remove the freeze in such a timely manner. They have done so in order to allow the millions of card users to continue using their cards.

    Now, your decision NOT to allow us to use the cards (meaning to transfer new funds received into accounts directly into the card like normal) is contrary to what FCA has tried to achieve.

    We, the Payoneer users are NOT willing to wait for weeks until you find a new card provider. We want to be able to use our cards with existing funds and NEW funds as soon as the FCA freeze removal is implemented, which is supposed to be 24 hours or less.

    WHEN you find a new card provider, only then you can disable the full functionality of old cards.

    Until then, people need to use their existing cards and be able to receive funds onto them.

    Otherwise, if FCA has given the green light and you, Payoneer PREVENT people from using the cards - how does that look and what does that mean?

    At the moment, Payoneer DOES NOT ALLOW withdrawals until July 6th and Payoneer DOES NOT ALLOW new funds to be transferred into the card. Why, Payoneer? While the FCA has decided to give card owners FULL ACCESS to it's functionality, YOU are now imposing limitations. You need to sort this out.

    Thank you.

    Listen,

    People stop acting like children, stop being rude and stop drawing your own conclusions made up in your own heads.

    You have no idea what restrictions the FCA put on Wirecard when they released the block. Or for that fact if Mastercard imposed any restrictions. Not allowing the loading of new funds to that card could be one of the conditions imposed by the FCA for all you know. Or Payoneer may be doing it to further protect its users.

    For now, deposits will go into your virtual balance no problem.

    Here's a better question useful that may provide more clarification if answered. @Leonid_Payoneer can maybe clear this up for people that are worried about not being able to withdraw new funds if they are not loaded the card.

    Leonid, Re new deposits arriving in the new virtual account. Can they be withdrawn via bank transfer?

    IE Is the bank transfer that is not available till the 6th of July applicable to overflow and virtual accounts or just to the funds on the cards. Thanks again.

    Thank you for understanding.
    There is a lot of noise about the situation and we are trying to make our updates as clear as possible.

    By saying that Bank Transfer will not be available till the 6th of July, we mean that there will be no such option for funds on your card. Any amount you have on your virtual balance can be withdrawn as of now, including new incoming payments.

    Payoneer is a business solution and we know how important the card could be for some of our customers. We are doing everything possible to let you run your business uninterrupted while keeping your funds safe,

  • Masevaforum
    Masevaforum Member Posts: 21 ✭✭
    I tried to withdraw money from freelancer to my payoneer card, one day before this happened. Today the money are not on freelancer anymore nor on my card. I guess little later they will be on my card so I hope that means slowly but surely they are unfreezing our cards...
  • b345
    b345 Member Posts: 19 ✭✭
    @Leonid_Payoneer Hello. Please clarify why funds may not be safe on the cards after FCA has decided to unfreeze them and why our ability to receive new funds on the cards has been limited by Payoneer. Thank you.
  • badbadger
    badbadger Member Posts: 30 ✭✭

    @Ulliel said:

    I read a lot about the scandal with Wirecard and there’s no sign that Payoneer could have known it will happen, in advance, so I’m really starting to believe that the threatening and doom messages in here were made by unstable people or those with ill intentions...

    I would bet that those unstable people with doom messages are the reason things resolved so quickly... I hope all those unstable people take the best from this situation and do what is best for them. Their instincts were right and I hope they listen to them.

    And you, you don't deserve to be in the same company...

  • dpx
    dpx Member Posts: 21 ✭✭
    I just tried small internet purchase using GBP card, everything went smoothly, payment accepted. Zero problems at all.
  • bubaduba
    bubaduba Member Posts: 21 ✭✭
    edited June 2020
    @Leonid_Payoneer thanks for the amazing reaction to you and the whole team.

    One very important question is WHEN do we expect to have a new card issuer? Will it take weeks or months? Since the current cards won't be loaded with new funds anymore. A lot of us use Payoneer to pay stuff online and withdraw to ATMs so the cards are crucial.

    Thanks again for making sure we keep business as usual!
  • MohMort
    MohMort Member Posts: 24 ✭✭
    Guys, I'm confused, blog says future payments are loaded into the payoneer balance.
    Does this mean I can't withdraw them from the card in an ATM? because I don't have a local bank account to withdraw the funds to, thanks!
  • bubaduba
    bubaduba Member Posts: 21 ✭✭
    > @MohMort said:
    > Guys, I'm confused, blog says future payments are loaded into the payoneer balance.
    > Does this mean I can't withdraw them from the card in an ATM? because I don't have a local bank account to withdraw the funds to, thanks!

    They will be loaded to your balance but NOT to your card. So you will have to withdraw them to a bank. That's why I asked my question above.
  • Trustlator
    Trustlator Member Posts: 11 ✭✭
    According to their last update, the cards should become active within the next 24 hours. They're not yet fully active despite the freeze lift because Mastercard need to sort out some technical stuff. And seeing as some of us have already been able to use the card for online payments, shit looks less smellier than before.

    And eh... yes, CEO's announcement that Payoneer is insuring all our funds was waaaaaay too late, gratuitous and intended solely intended as trust damage limitation.

    Payoneer should learn at least the following lessons from this crisis.

    1. Your customers/users are your lifeline, treat them as such. Trust is everything.

    2. Communication, communication, communication... Timely, frequently and clearly.

    3. Don't give a third party control over your customer's funds. When someone entrusts you with their money, you don't give it to others.

    4. Issue your own cards in-house.

    5. Have alternatives ready, contingency plans, insurance, etc...
  • Trustlator
    Trustlator Member Posts: 11 ✭✭
    "We are happy to report that the UK’s Financial Conduct Authority (FCA) completed its audit and confirmed that it has lifted the freeze on your Wirecard-issued Payoneer Prepaid Mastercard® card. As Mastercard has addressed and fixed some technical issues, your Payoneer Prepaid Mastercard is now active once again.""

    Yippyaahyeee mofo's!
  • webdeveloper
    webdeveloper Member Posts: 10 ✭✭
    edited June 2020
    I was able to pay for a domain name at 15:10 EET, then I went to ATM (PrivatBank Ukraine), and the card did not work yet.
  • cobiluna
    cobiluna Member Posts: 2 ✭
    > @webdeveloper said:
    > Tried 'PrivatBank' ATM in Ukraine, 5 AM, no luck it does not work.
    > Tried to pay a domain name, does not work either.
    > Other Ukrainian users report ATM does not work for them.

    I also just tried on an ATM in Germany and could not use my card. it is not working.
  • Horma1987
    Horma1987 Member Posts: 6 ✭
    The same problem got with Paxum
    Paxum Takes Unprecedented Action to Return Clients Frozen Wirecard Card Funds Itself


    On Friday, June 26th 2020 Wirecard Card Solutions Limited regulatory activity was suspended by the Financial Conduct Authority (FCA). This action unfortunately resulted in the immediate forced suspension of Paxum Branded Prepaid Mastercards and of any funds already loaded to the card.


    In response to Friday's news Paxum Inc immediately consulted with its lawyers to determine any options available to assist clients in regaining access to their card funds as quickly as possible. After a busy weekend of consideration and discussion with its lawyers, Paxum Inc CEO Octav Moise made the extraordinary decision that Paxum will return its clients frozen prepaid card funds itself, at Paxum's own expense, to allow an immediate return of the available balance to affected card-holders rather than at a later, undetermined, date.


    “We know our clients would eventually get their funds back from Wirecard Card Solutions Limited. But we don't want our clients to have to wait and suffer, especially considering how difficult life is for everyone right now with the covid pandemic.” said Paxum's CEO Octav Moise. “It might take weeks, months or even longer for this situation to be resolved and for FCA to release card-holder funds. That's why we are stepping in to make this right.”


    The company is in the process of issuing email instructions over the course of the next few days to all affected clients explaining how to get their Paxum Branded Prepaid Mastercard card funds back. Once the funds are returned to their Paxum ewallet account, clients will be able to withdraw their funds through one of Paxum's other options such as WIRE, EFT (local bank transfer), withdrawal to external card, or to the Paxum Unionpay Card. Clients that do not yet have a Paxum Unionpay Card can apply for the card directly inside their account.


    “Just as Paxum allows you to pay with ease, we've also made this refund method as easy as possible for our clients.” continued Moise. “Simply follow the instructions in the email and the available balance on your card will be returned to your Paxum account within approximately 48 hours so you can access or withdraw it in another way. Every affected client will receive an email with directions over the next few days.”


    Once again Paxum illustrates why it has become an industry leader for payments as it always guarantees that no client will ever lose money when working with Paxum. All requests for Paxum Branded Prepaid Mastercard balance refund will be honored, and the company invites its clients to use the support ticket system for more information if needed.


    Paxum is an industry leader, and has been successfully offering a secure instant payment platform since 2007 to hundreds of thousands of clients that actively use its service. The award-winning payment company provides a cost-effective, user-friendly interface fortified with stringent security measures and multiple ways for clients to access their account funds, including an optional prepaid credit card. Paxum account users can easily send and receive money instantly all over the world.
  • MohMort
    MohMort Member Posts: 24 ✭✭

    @MohMort said:
    Guys, I'm confused, blog says future payments are loaded into the payoneer balance.
    Does this mean I can't withdraw them from the card in an ATM? because I don't have a local bank account to withdraw the funds to, thanks!

    Someone please answer this as it is a very important question to me, depending on which answer I need to decide to direct my next payment to another card service or not.

  • b345
    b345 Member Posts: 19 ✭✭
    edited June 2020
    > @MohMort said:
    > (Quote)
    > Someone please answer this as it is a very important question to me, depending on which answer I need to decide to direct my next payment to another card service or not.

    The cards have been unfrozen or will be unfrozen soon. If you had any existing balance on your card, you should be able to withdraw from the ATM. However, you cannot receive new funds to the card. So if you didn't have existing funds on the card, although the card has been unfrozen, the card is useless to you.
  • MohMort
    MohMort Member Posts: 24 ✭✭

    GG, so payoneer did absolutely nothing regarding this issue like other services, it was all by the FCA, they froze and unfroze the funds.

  • abdelrahmanm
    abdelrahmanm Member Posts: 87 ✭✭

    Curve migrated to new card issuers while maintaining the old cards. Why can't Payoneer do the same. I've only used my card for 7 months, having to order a new one already is not ideal.
    @Leonid_Payoneer
    Is there a way to make this move optional for clients, so that old cards may still receive funds?

  • b345
    b345 Member Posts: 19 ✭✭
    edited June 2020
    The FCA stated that "customers can now, or very shortly, use their cards as usual."

    Using the card as usual involves being able to receive money on the card, to withdraw money and to spend it.

    It looks like Payoneer is not going to allow us to receive money on the card and no official reason has been given. Perhaps @Leonid_Payoneer would like to address this aspect.

    I believe this is the important issue at the moment.
  • Trinity
    Trinity Member Posts: 62 ✭✭

    @MohMort said:
    GG, so payoneer did absolutely nothing regarding this issue like other services, it was all by the FCA, they froze and unfroze the funds.

    So you think Payoneer did absolutely nothing to consult with the FCA or were pushing them to resolve? Do you think they were doing nothing to resolve the issue for their customers? You think one of the biggest and most successful online payment companies in the world was doing nothing?

    Seriously what are you smoking? That's genuinely insulting to the people that work behind the scenes to ensure your service and money is safe. People like you should refrain from posting nonsense online.

    They updated us daily. The issue arose on Friday and was resolved on Tuesday, two of those days were non-banking days and days the FCA staff doesn't typically work weekend. Also, they are currently understaffed due to CV19.

    They had to coordinate a response when dealing with multiple parties (MasterCard, Wirecard, FCA, customer) not to mention reaching out to new care providers and working there way through the best solutions within those options. Plus securing liquidity of customer funds.

    4 days is pretty exceptional but selfish people like you just like to bitch and moan all the time whilst touting theories you formulate in your heads.

  • Horma1987
    Horma1987 Member Posts: 6 ✭
    We’re happy to inform you that the FCA has completed its audit and lifted the freeze on your Payoneer Prepaid Mastercard® card. We know that this period has been difficult for you. We appreciate your patience and support while we worked to get the situation resolved swiftly.

    Can I access the funds on my card?

    Yes, you can withdraw the funds on your card from an ATM or spend them online and in-store. While you may wish to withdraw your funds very quickly, we have been assured by the FCA that no further problems are expected.
    From Monday July 6, 2020, you will once again be able to withdraw your funds to your local bank account and use your balance to make payments. Until then, we will waive the flat ATM withdrawal fee.

    Can I use my card to receive new funds?
    All future payments will continue to be received to your Payoneer currency balance, not your card. Even though the FCA announced that the cards are safe to use, we will offer a new card issuer soon, ensuring long-term safety of your earnings.

    Will I be able to request a new card?
    We will contact you as soon as we have a new card solution available.

    We apologize for the inconvenience caused by these events. We appreciate your continued partnership and remain committed to strengthening our offering with additional secure ways to access your funds.
  • Trinity
    Trinity Member Posts: 62 ✭✭

    @MohMort said:

    @MohMort said:
    Guys, I'm confused, blog says future payments are loaded into the payoneer balance.
    Does this mean I can't withdraw them from the card in an ATM? because I don't have a local bank account to withdraw the funds to, thanks!

    Someone please answer this as it is a very important question to me, depending on which answer I need to decide to direct my next payment to another card service or not.

    Payoneer answered that a few posts above yours if you bothered to read.

  • Horma1987
    Horma1987 Member Posts: 6 ✭
    What about upcoming payments, will we benefit from them through ATMs or purchases?
  • Trinity
    Trinity Member Posts: 62 ✭✭

    @abdelrahmanm said:
    Curve migrated to new card issuers while maintaining the old cards. Why can't Payoneer do the same. I've only used my card for 7 months, having to order a new one already is not ideal.
    @Leonid_Payoneer
    Is there a way to make this move optional for clients, so that old cards may still receive funds?

    Curve has been in the process of making the switch to a different provider whilst keeping the same cards for many months now. In fact, their cards were due to switch to the new provider on the 28th anyway. They just expedited the process when these events happened but they were already well into the process beforehand.

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