Payoneer Payment Limitations

[Name Trader]

I sent an email to Payoneer Escrow asking for their payment limits and charges. And was shocked by the reply I rcvd. Later confirmed.

The Escrow service that Payoneer offers allows
Pay In via the following methods

For Individuals in the US – e-check up to $5000
Credit card up to $2000


For Individuals outside of the US – Credit card up to $2000


For Companies in the US – e-check up to $5000
Credit card up to $2000
ACH – Unlimited amount
Wire – Unlimited amount

For companies outside the US – Credit Card up to $2000
Wire Unlimited Amount

The only payments acceptable from individuals was via credit card with a maximum of only $2000. They do not accept wire transfers at all from individuals. And if the buyer is in US they can pay by e-check up to $5000. That is so restrictive for individuals. I'm surprised they confirmed this when I checked.

Since the majority of sales I make are over $2k and to individuals. About 50% who are not living in the US.They have absolutely no way to pay for the purchase. I was making plans to offer Payoneer as the Escrow Service for their purchases. But this information has just squashed that idea.

 

[Name Trader]

Occasionally I do work on weekends. This one was not one of those. There are limitations when individuals are transacting with each other regarding wire transfers. That being said, anytime someone has contacted me with an issue for a specific domain transaction that needed to pay by wire the payment method has been authorized. Thanks

There are a number of problems here.

Most local and overseas people would read the rules and say, oh my purchase is for $5.1k (for US) and $2.1k (for overseas) I cannot use Payoneer because they only allow payments by credit card up to $2k, and won't allow me to pay by wire. My money is at least as good as some shady tinpot company's. And they think this is just crazy (and discriminatory). As I stated in my post. I (the buyer) don't want to deal (and cannot) with any company which discriminates against me in their terms and conditions. That's from the buyers PoV.

From the sellers PoV. It makes it much more difficult also to use Payoneer as the standard payment method using your API. Because, in my case, approx 50% of all my buyers don't live in US, and pretty much all my sales are over $2k. Where they are excluded from using the Payoneer Escrow Service. Why should we use your API at all, if it excludes 50% of our buyers? And we have to additionally code these exceptions when attempting to use your API.

For me personally. It is discriminatory to treat both US and overseas persons, whose money is as good as everybody else's money, not to have the ability to pay by wire transfer. Which is principally the main way of sending larger sums, in the whole world. You cannot even wire from another Payoneer Account. How much thinking has actually gone into these rules?

So. I have had to put a stop into coding your API into my website until these issues have been addressed. Giving individuals unlimited payments by wire would completely solve these problems.

 

[bee]

I'm thinking about using it, too.
This is really a problem

 

[bee]

I hope they can add Payoneer Escrow payments directly to our WooCommerce store with extension for WooCommerce.