Payoneer in Russia after 12th of September

andreypii
andreypii Member Posts: 2
Hello.
I got 2 questions about payoneer work in Russia after 12th of September
1) Will payoneer users from outside Russia be able to transfer funds to the payoneer of a Russian payoneer users?
2) Will russian people be able to create payoneer accounts and withdraw funds to their local bank accounts?

Comments

  • Hannah_Payoneer
    Hannah_Payoneer Confirm Email, Administrator, Moderator, VIP Member, Community Mod Posts: 449 ✭✭✭✭✭✭✭

    Great question @andreypii

    Due to changes in local Russian regulations, we are required to disable several features of our platform for Russian residents.

    This means that as of September 12, 2021, you will no longer be able to:

    • Send payments to other Payoneer users or other recipient’s bank accounts (domestic or international)
    • Manage the currencies you’ve received
    • Pay your VAT obligations with your earnings from marketplaces and other foreign initiators

    After September 12, you will still be able to:

    • receive payments from foreign companies and marketplaces as you do today
    • have your earnings automatically withdrawn to your local bank account daily, we recommend verifying that these bank account details are complete and accurate.

    We value and appreciate your understanding and can assure you that Payoneer remains committed to supporting your business the way we always have.

  • rattywolf
    rattywolf Member Posts: 5
    @Hannah_Payoneer what if I have only Withdraw-To bank Account option in Payoneer menu? I don't see automatic withdraw anywhere. Will I still be able to witndraw manually to my local bank account in Russia?
  • Hannah_Payoneer
    Hannah_Payoneer Confirm Email, Administrator, Moderator, VIP Member, Community Mod Posts: 449 ✭✭✭✭✭✭✭

    Hi @rattywolf

    You will not be able to manually withdraw, all accounts in Russia will automatically be turned into automatic withdrawal to your approved bank account.

  • ichtar
    ichtar Member Posts: 2
    Hi @Hannah_Payoneer, So how is this supposed to work? Whenever funds come they're automatically withdrawn? Or at the end of the month? Or how?
  • Aron_Payoneer
    Aron_Payoneer Administrator Posts: 246 ✭✭✭✭✭✭

    Hi @ichtar

    The funds will be withdrawn automatically on a daily basis and will be only to russian bank accounts.

  • DavidK90
    DavidK90 Member Posts: 2
    Hi there,

    Are Payoneer wallets in Russia still functional? Can they receive payments from foreign companies?

    Many thanks,
  • Hannah_Payoneer
    Hannah_Payoneer Confirm Email, Administrator, Moderator, VIP Member, Community Mod Posts: 449 ✭✭✭✭✭✭✭

    HI, @DavidK90 We will continue to serve our existing customers in Russia in line with the limitations imposed by international sanctions.

    We have made the decision to suspend the ability for new customers in Russia to use Payoneer services as such any new Russian customers signing up to our service will only be able to receive payments from marketplaces.