Payoneer Escrow Feedback

[NameOmnia]

Has anyone tried Payoneer Escrow? Can you give some feedback?
Thanks

 

[Hypersot]

Just in case you're not aware, there is this thread here where there is some feedback for general payoneer services:
https://www.namepros.com/threads/payoneer-jumps-into-domain-name-escrow-business.971364

regarding their escrow service there are only bits of info in that thread, not a full review.

 

[NameOmnia]

Just in case you're not aware, there is this thread here where there is some feedback for general payoneer services:
https://www.namepros.com/threads/payoneer-jumps-into-domain-name-escrow-business.971364

regarding their escrow service there are only bits of info in that thread, not a full review.

Thank you Hyper; I am aware of the thread but as you said not many info there..hopefully someone will share their escrow experience.

 

[wwwweb]

I think their cc max they could accept was currently $2k, I don't know if that has changed?

 

[NameOmnia]

I think their cc max they could accept was currently $2k, I don't know if that has changed?

I don't know that either...I shall investigate!

 

[Haykay2005]

I also need to know

 

[Brandon Abbey]

That is correct, current limit on credit cards is $2,000

 

[deez007]

Hi @Brandon Abbey

Thanks for the heads up......

Are there any other limits that we need to be aware of apart from credit card limits?

 

[Brandon Abbey]

Hi @Brandon Abbey

Thanks for the heads up......

Are there any other limits that we need to be aware of apart from credit card limits?

That should cover it. We would appreciate the opportunity to earn your business, so if there is anything I can do to assist in your transactions just let me know. Either PM me or direct is [email protected]

Thanks,

Brandon

 

[deez007]

That should cover it. We would appreciate the opportunity to earn your business, so if there is anything I can do to assist in your transactions just let me know. Either PM me or direct is [email protected]

Thanks,

Brandon

Most excellent, thanks a stack Brandon. I will definitely give Payoneer escrow a try....I already have Payoneer account and debit card for few years now (card might have expired though) So I am familiar with that side of the business. Looking forward to making use of the escrow service soon... will be sure to let you know.

 

[Jurgen Wolf]

@Brandon Abbey
Via Payoneer LiveChat I got an answer that I can't withdraw to my Ukrainian bank, as of now - it is not allowed by Payoneer.
So, unfortunately, your Escrow is unsuitable for me at all.

 

[Jurgen Wolf]

Please list all countries where SWIFT-disbursement is unsupported by Payoneer...

 

[tonyk2000]

Interesting. Payoneer website itself (on https www payoneer com/products/local-bank-withdrawal/ ) suggests that UA-based member may withdraw by bankwire in UAH currency. While it is likely not what a "Gtld" domainer (that operates in USD) would need, might be at least something...

So, it appears that

- Withdraw in USD (domain escrow transaction currency) by bankwire appears to be available only for sellers located in the United States of America

- After earning escrow commision, payoneer appears to be set to earn extra commission (currency exchange commission) by sending bankwires in local currencies only (in accordance with members country) OR to earn extra commission by sending the payment to their prepaid card from which the $$$ can be used (with extra per-transaction commissions)

- Bankwires are available to about 60 countries only (of 195 counties in this World), and, as detemined above in this thread, the list for escrow-domains may be even shorter. Even the official published list excludes almost all South America for example (the whole continent!). Maybe that list includes only those countries/currencies where payoneer _may_ earn something on currency exchange?

- Any members may be able to withdraw to payoneer debit card (for an extra fee) from where the USD $$$ can be subsequently spent (with extra per transaction %%% fees)

Brandon, please correct me if I am wrong....


If the above findings are correct, the whole "strictly payoneer" thing does not make payneer escrow really usable for transactions of higher amounts, like 4-5 figures amounts, for non-U.S-based sellers, especially if the sellers country is unsupported for bankwires. It may well be considered usable for 3 figures transactions for example, as one would likely accept such a small payout to prepaid debit card even with all the extra fees involved

 

[Jurgen Wolf]

They answered me that Bank service is completely unavailable for me (Ukraine)...
Only their MasterCard is allowed.

 

[OneOfTheseDays]

That should cover it. We would appreciate the opportunity to earn your business, so if there is anything I can do to assist in your transactions just let me know.

Thanks,

Brandon

Brandon

Apologies if you are repeating yourself but I'm looking at opening an escrow ac
and all I'm coming across right now is loads of issues re: account verification

How straightforward is it with your company?

 

[Jurgen Wolf]

They answered me that Bank service is completely unavailable for me (Ukraine)...
Only their MasterCard is allowed.

And it is really absent in my regular Payoneer account...
And when I have asked them "why" - I got this answer.

 

[Jurgen Wolf]

Regarding Escrow account...
It doesn't pay itself... it just transfers your funds to your main Payoneer account...
So both accounts are needed.

 

[Jurgen Wolf]

p.s. I receive USD/EUR wires from other companies without any issues and restrictions.

 

[Jurgen Wolf]

And regarding their MasterCard... It costs $29.95 yearly...

For the same MC or VISA from my bank I pay max. $7.20/yr (if no bonuses) and it is cheaper overall when using ATMs...
Also I can set my limits on it myself... + overdraft is available for me.

 

[Jurgen Wolf]

Their representative has contacted me today:

It was brought to my attention that you had some questions in regards to your Payoneer account and if you can use Payoneer Escrow for your business. I do apologize for the lack of information that you were given in your recent chat. The Customer Care Agent was giving information on your current Payoneer Account and not information on if you were to use Payoneer Escrow.

You can have payments sent directly to your bank account using Payoneer Escrow. When you login to your Payoneer Escrow account, go to your Account Settings page> click the green link named: Setup Payoneer Payout> click New to Payoneer> select: Direct to Bank Account and add your Ukraine bank account information.

 

[Domains - Wanted]

They answered me that Bank service is completely unavailable for me (Ukraine)...
Only their MasterCard is allowed.

...You can have payments sent directly to your bank account using Payoneer Escrow. When you login to your Payoneer Escrow account, go to your Account Settings page> click the green link named: Setup Payoneer Payout> click New to Payoneer> select: Direct to Bank Account and add your Ukraine bank account information.

Let me see if I read this right: they allow withdrawals to an Ukrainian bank from the escrow account, but not from the main Payoneer account?

 

[Jurgen Wolf]

My main Payoneer account is old... and it was created to use their MasterCard (this card is already expired)...
I think, this is a reason why Bank withdrawal is not possible there. Only withdrawal to Card.
Probably, to setup Bank service - NEW account is needed (without card)... but it is unnecessary for me, I plan to use their Escrow only...

 

[Jurgen Wolf]

Via recent chat I have asked to switch my main account from Card to Bank withdrawal mode - agent Matteo answered that my account is not eligible and this is impossible.

 

[Jurgen Wolf]

+ I have noticed (Aug'2016): http://community.payoneer.com/en/discussion/comment/114856/#Comment_114856

Hello Artem,

Ukraine is a country that we still support in Payoneer. We even recently added the ability to withdraw money to bank in Ukraine from Payoneer.

The details we provide are designed to assist you in receiving payments to Payoneer. The account allows you to either access the funds with the use of prepaid Mastercard or withdraw it to your local bank account.


So at now I don't understand at all why Matteo rejected my request...

 

[Jurgen Wolf]

p.s. And my old main account is even VERIFIED (I sent all necessary scans to Payoneer a few years ago)...