Pre-paid card to buy crypto on Binance?

augusto1982augusto1982 Member Posts: 2
Hi! I'd like to know if one can use their pre-paid card to buy Crypto on Binance. A friend heard that a while back a friend's account got locked because of this. I know about paxful, although P2P is less than optimal.
Thanks!

Comments

  • Aron_PayoneerAron_Payoneer Administrator Posts: 170 ✭✭✭✭✭✭

    Hey @augusto1982

    Payoneer cards can be used to buy cryptocurrencies.

    Despite that please take into account that the sale or exchange of cryptocurrencies is prohibited with all of our services. You can review this in section 20.2 of our Terms & Conditions.

  • zylar07zylar07 Member Posts: 2
    > @Aron_Payoneer said:
    > Hey @augusto1982
    >
    > Payoneer cards can be used to buy cryptocurrencies.
    >
    > Despite that please take into account that the sale or exchange of cryptocurrencies is prohibited with all of our services. You can review this in section 20.2 of our Terms & Conditions.

    So, just to clarify. It's ok to use the card for buying crypto in Binance, and the account will not be banned?
  • Hannah_PayoneerHannah_Payoneer Confirm Email, Administrator, Moderator, VIP Member, Community Mod Posts: 369 ✭✭✭✭✭✭✭

    Hi, @zylar07 Payoneer does not restrict its cards from being used to purchase cryptocurrency. Please note that the card usage is still subject to the Card Terms and Conditions, you can view it through your online Payoneer account. Once logged in, click on Legal at the bottom of the page.

    It is also important to keep in mind that the card acceptance is subject to the merchant’s Terms and Conditions.

    Please note that Payoneer's Terms and Conditions for receiving payments still does not allow for receiving funds that are related to crypto.

  • eightriceeightrice Member Posts: 2
    Hannah, your answer is confusing. "Payoneer does not restrict usage... Crypto is not allowed". Do you suppose you could be more clear? Will the account get suspended if I transfer from Binance or Coinbase? Will the funds get confiscated? Will nothing happen? Yes, obviously service abides by some terms, but maybe you can give us the just of it. Thanks
  • Hannah_PayoneerHannah_Payoneer Confirm Email, Administrator, Moderator, VIP Member, Community Mod Posts: 369 ✭✭✭✭✭✭✭

    Hi @eightrice

    Please note each type of card has different terms and conditions, based on where you are located and which currency you are using, so please check your specific details, however in general using the card to purchase crypto is permitted.

    However receiving funds to your Payoneer account relating to crypto is not permitted.

    I hope this is more clear for you, if you have any follow up questions please let me know :smile:

  • bacchvsbacchvs Member Posts: 2
    @Hannah_Payoneer I'm trying to buy cryptocurrency with my virtual card (master card) and I'm getting this error:

    "Issuing county is not compatible"
    Card in this country is not currently supported.
  • Hannah_PayoneerHannah_Payoneer Confirm Email, Administrator, Moderator, VIP Member, Community Mod Posts: 369 ✭✭✭✭✭✭✭

    Hi @bacchvs it seems to me that your card will not be approved for crypto than in this case.

    However, if you would like more information you can contact customer care and they will be able to check if there is anything other information you may need.

  • jod1973jod1973 Member Posts: 5
    Hi @Hannah_Payoneer, you mentioned, "receiving funds to Payoneer account relating to crypto is not permitted." How come there are many people selling crypto on paxful.com and choosing payoneer as their payment option.
  • Hannah_PayoneerHannah_Payoneer Confirm Email, Administrator, Moderator, VIP Member, Community Mod Posts: 369 ✭✭✭✭✭✭✭

    hi @jod1973 as long as it is not a payment sent using the Make a Payment Service, the Global Payment service, or the Payment Request Service. It should be okay

  • salihenesalkansalihenesalkan Member Posts: 2
    > @Hannah_Payoneer said:
    > Hi @eightrice
    >
    > Please note each type of card has different terms and conditions, based on where you are located and which currency you are using, so please check your specific details, however in general using the card to purchase crypto is permitted.
    >
    > However receiving funds to your Payoneer account relating to crypto is not permitted.
    >
    > I hope this is more clear for you, if you have any follow up questions please let me know :smile:

    Hello, I will sell digital codes via G2A. Is it allowed to buy crypto money on binance with the payoneer card with the income I earn from there? From your answer it looks like it's free to do. But I still wanted to make sure, thanks.
  • Hannah_PayoneerHannah_Payoneer Confirm Email, Administrator, Moderator, VIP Member, Community Mod Posts: 369 ✭✭✭✭✭✭✭

    hey, @salihenesalkan as previously mentioned as long as it is not a payment sent using the Make a Payment Service, the Global Payment service, or the Payment Request Service. It should be okay

  • jod1973jod1973 Member Posts: 5
    Thank you so much @Hannah_Payoneer. To make sure I understand correctly. Sending money between Payoneer accounts is fine for crypto purchasing. I refer to making a payment using "either to a recipient's Payoneer account or to a recipient's bank account"

    > @Hannah_Payoneer said:
    > hi @jod1973 as long as it is not a payment sent using the Make a Payment Service, the Global Payment service, or the Payment Request Service. It should be okay
  • Hannah_PayoneerHannah_Payoneer Confirm Email, Administrator, Moderator, VIP Member, Community Mod Posts: 369 ✭✭✭✭✭✭✭

    Hey there @jod1973

    Thanks for asking for clarification, you may not send money between Payoneer accounts to pay for crypto. If a crypto company is paying out using Payoneer you can receive this way only.

  • jod1973jod1973 Member Posts: 5
    Hi @Hannah_Payoneer ,

    Let's say if I want to sell my crypto at paxful.com. I can ask customers to pay from their payoneer account to my payoneer account. Is that right?

    > @Hannah_Payoneer said:
    > Hey there @jod1973
    >
    > Thanks for asking for clarification, you may not send money between Payoneer accounts to pay for crypto. If a crypto company is paying out using Payoneer you can receive this way only.
  • Hannah_PayoneerHannah_Payoneer Confirm Email, Administrator, Moderator, VIP Member, Community Mod Posts: 369 ✭✭✭✭✭✭✭

    Hi again @jod1973

    No you cannot ask customers to pay from their Payoneer account to your Payoneer account for a crypto purchase.

    If you can get a payment directly from the website you are selling on you may be able to receive this way.

    I hope this is clear :smile:

  • jod1973jod1973 Member Posts: 5
    Thank you @Hannah_Payoneer,

    Now it makes sense to me. Since Paxful is the one who holds the fund using escrow and sends money to the seller after. That means I get payment direct from the website, not the customer. Please correct me if I am wrong.


    > @Hannah_Payoneer said:
    > Hi again @jod1973
    >
    > No you cannot ask customers to pay from their Payoneer account to your Payoneer account for a crypto purchase.
    >
    > If you can get a payment directly from the website you are selling on you may be able to receive this way.
    >
    > I hope this is clear :smile:
  • Hannah_PayoneerHannah_Payoneer Confirm Email, Administrator, Moderator, VIP Member, Community Mod Posts: 369 ✭✭✭✭✭✭✭

    @jod1973 You are completely correct :)

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