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Re: Payoneer insolvency - Withdraw to bank account not working

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Community Guru
Maria C Member Since: Jul 9, 2015
81 of 238

Upwork, are you looking for alternative payment methods? We are always asking for this, now it is urgent. 

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Ace Contributor
Rufana P Member Since: Aug 7, 2019
82 of 238

Hi
I heard that payoneer went insolvency this morning
Will payoneer no longer work with you?
What will people do if their country doesn't support the card other than payoneer if it won't work?
Please take this into consideration
I live in Azerbaijan and only Payoneer is supported here.

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Community Guru
Petra R Member Since: Aug 3, 2011
83 of 238

Rufana P wrote:

Hi
I heard that payoneer went insolvency this morning


Where did you hear that? 

Wirecard AG in Germany went insolvent.

Wirecard Card Solutions Ltd (a subsidiary) in the UK are the company who have issued the Payoneer cards and they are currently not insolvent, they are under restrictions which is why funds on the card are blocked.

 

See more here

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Ace Contributor
Simon T Member Since: Jul 2, 2016
84 of 238
Spoiler
It is not Payoneer.  It is the third party that Payoneer (and others) use as a card provider service.  Lots of other payment services also have the same issue if they used the same card provider (which seems to be a lot).
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Active Member
Andrei H Member Since: Jun 8, 2020
85 of 238

Payoneer insolvency and their MasterCard freeze is a crucial issue.

And not only that, but even if they say in the FAQ that "new funds will be sent to your Payoneer account and can be withdrawn to your bank account" it is not working so money is stuck there (screenshot). This is the short-term problem.

 

Long-term problem and question is how are we (those who had only Payoneer solution) to going to withdraw money from UpWork?

 

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Active Member
Aleksandar S Member Since: Jun 2, 2016
86 of 238

Did you contact Payoneer support?

Active Member
Negoslav P Member Since: May 16, 2018
87 of 238

Payoneer support is blocked. No answering on calls or live chat, They will be available on Monday 1 am UTC.

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Active Member
Andrei H Member Since: Jun 8, 2020
88 of 238

no yet, but I don't think there is a point

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Community Guru
Petra R Member Since: Aug 3, 2011
89 of 238

Payoneer, as far as I know, is not insolvent.

Wirecard AG (in Germany) is

Wirecard Card Solutions Ltd in the UK is not insolvent, but under restrictions,

 

Our cards were issued by Wirecard Card Solutions Ltd in the UK, and funds on the card are bocked. However, future funds sent to the Payoneer balance (NOT the card) can be withdrawn to a bank account.

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Community Guru
Alexander N Member Since: Dec 28, 2008
90 of 238

Petra please clarify - funds on Payoneer in excess of $10K which were on the card, can be withdrawn to the bank? Or they are blocked too?

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