DDoubt about cryptocurrencies purchase

karinamdp
karinamdp Member Posts: 10 ✭✭
in Ask The Community
Hi,

Does anyone know if my Payoneer card/account could be banned for buying cryptocurrencies on pages such as Coinmama.com or Koinal.io?

Comments

  • iKlotho
    iKlotho Member Posts: 3 ✭
    Hi, I didn't know that it is not allowed to buy any cryptocurrency with Payoneer Card. I tried to make a payment and it got denied. I was wondering If my account could get banned for this? Technically I still didn't purchase any cryptocurrency yet.

    I know I should've read the terms and conditions :neutral:
  • cebooker
    cebooker Member Posts: 4 ✭
    edited September 2021
    Hello,
    Can i pay Binance via my Payoneer card? I know it shows crypto or currency exchanges are prohibited on TOS. But when I asked from customer support they said it's okay to pay Binance and I should be fine.
    What are your experiences?
    LMK
  • rPlayer
    rPlayer Member Posts: 4 ✭
    Hello! I have a doubt regarding the use of the Payoneer debit card and cryptocurrencies:

    I have read (multiple times) the TOS of both Payoneer services and Mastercard, and it seems you could buy crypto with the card because the TOS of Mastercard only specifies that you CAN't use it in gambling sites or for illegal activities. Futhermore, the TOS of Payoneer specifies you can't make / receive a payment for a long list of things (including crypto, food and groceries, crowdfunding, etc.) which is ridiculous for the purpose of the card.

    And last but not least, I talked with a Payoneer representative and he make it clear that the TOS of the Payoneer debit card and Payoneer Services are separated. The list of "Prohibited transactions" only applies to Payoneer services, for example, the use of "Global Payment Service" and "Make a payment" features (which is logical why P2P transactions for currency exchange are pohibited, and why a list of users who did these operations were banned a few months ago). For example, you can check this discussion (https://community.payoneer.com/en/discussion/comment/174198#Comment_174198) where someone ask if the card is attached with those "Prohibited transactions" and can't buy food and groceries, and support answers that you can do that.

    Here are the latest TOS for the date that I post this:
    -Payoneer services: https://pubs.payoneer.com/legal/PayoneerTermsAndConditionsINC_Aug2021.htm
    -Payoneer debit card (Mastercard): https://pubs.payoneer.com/legal/PayoneerCommercialDebitCardPEL_Jan2021.htm

    So, in conclusion, Can I use the Payoneer debit card to buy cryptocurrencies?

    Hope this information helped whoever read this. Also, hope a response for Payoneer support regarding this discussion!
  • Hannah_Payoneer
    Hannah_Payoneer Confirm Email, Administrator, Moderator, VIP Member, Community Mod Posts: 449 ✭✭✭✭✭✭✭
    edited September 2021

    Hey @rPlayer this is a great question and you have shared a lot of important information with the community so thank you! We understand that you want to use your Payoneer card for purchasing cryptocurrencies.

    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.

    Please note that based on a multitude of parameters there are different terms and conditions so each Account Holder should follow the steps in their own accounts to see their specific terms and conditions.

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

    Should you require further assistance please don't hesitate to contact us.

  • Aron_Payoneer
    Aron_Payoneer Administrator Posts: 251 ✭✭✭✭✭✭

    Hey @iKlotho

    Our cards can be used to purchase cryptocurrencies.

    Nevertheless it is important to note that any other activity related to the sale or exchange of cryptocurrencies is prohibited with the rest of our services.

    You can review this in section 20.2 of our Terms & Conditions.

  • Aron_Payoneer
    Aron_Payoneer Administrator Posts: 251 ✭✭✭✭✭✭

    Hey @iKlotho

    Your card won't be banned if you use it to purchase cryptocurrencies. It can be used to buy cryptocurrencies.

    Please note that any other activity related to 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.

  • Aron_Payoneer
    Aron_Payoneer Administrator Posts: 251 ✭✭✭✭✭✭

    Hey @cebooker

    You can purchase cryptocurrencies with your Payoneer card but you are right about our Terms & Conditions.

    It is forbidden to use any other of our services in the sale or exchange of currency, including digital and crypto-currencies.

  • rPlayer
    rPlayer Member Posts: 4 ✭
    Hello, Hannah. Yes, this was a doubt that a lot of people I know and myself had. Thanks for clarify it!
  • KayFab100
    KayFab100 Member Posts: 1 ✭
    > @Aron_Payoneer said:
    > Hey @iKlotho
    >
    > Our cards can be used to purchase cryptocurrencies.
    >
    > Nevertheless it is important to note that any other activity related to the sale or exchange of cryptocurrencies is prohibited with the rest of our services.
    >
    > You can review this in section 20.2 of our Terms & Conditions.

    Could you be more specific about what this means?
  • Hannah_Payoneer
    Hannah_Payoneer Confirm Email, Administrator, Moderator, VIP Member, Community Mod Posts: 449 ✭✭✭✭✭✭✭

    Hi @KayFab100

    You are able to purchase with the card however it is not supported to receive payment from crypto companies to your Payoneer account, I hope that clears it up for you

  • GAMATRON
    GAMATRON Member Posts: 3 ✭
    Hi! Good Afternoon do you know if it's possible to receive USDT from a crypto wallet hera in the wallet of Payoneer? Thanks
  • Kiara_Payoneer
    Kiara_Payoneer Administrator, Moderator, VIP Member Posts: 450 ✭✭✭✭✭✭

    Hey @GAMATRON ! Cryptocurrency is considered a prohibited line of business when using Payoneer's services. This means that it is prohibited to receive payments through Payoneer related to cryptocurrency as it is agains the Terms & Conditions.

  • joy4xin
    joy4xin Confirm Email, Member Posts: 1 ✭
    I really need some USDT on my binance. I want to use my payoneer card for as a deposit method. Can I do it? Will it have any negative effect on my payoneer account?
  • Kiara_Payoneer
    Kiara_Payoneer Administrator, Moderator, VIP Member Posts: 450 ✭✭✭✭✭✭

    Hi @joy4xin!

    Please read the answers above. :)

  • dragunov
    dragunov Confirm Email, Member Posts: 1 ✭
    edited October 2022
    What do you think about buying and selling crypto with payoneer at least bitcoin and ethereum
  • Kiara_Payoneer
    Kiara_Payoneer Administrator, Moderator, VIP Member Posts: 450 ✭✭✭✭✭✭

    Hey @dragunov!

    As moderator I've moved your question to this discussion as it matches your doubts. Please read above.

This discussion has been closed.

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