Re: Payoneer
Hi Techni,
this is due to a Payoneer policy update. It has changed just recently. (About a month ago) I assume Payoneer got fined by German BAFIN. You are absolutely correct. In the past no bank account information was necessary to get a Payoneer account. They would directly issue a USD or EUR Payoneer debit card to you and let you use their payment service details. Of course with the payment service you would still have to go through their verification process at some point, meaning proof of id, questionnaire and all the other usual stuff.
Their policy has changed now, as they request you to enter your bank account information while signing up for the service. I assume (only my personal opinion, feel free to correct me if you are thinking I am wrong) this was a request by German authorities / financial regulatory institutions allowing Payoneer to stay in business in Germany, as you providing them valid bank account information adds an additional layer of security for them in terms of KYC. If they actually check this bank account information for validity I donīt know. Hope I could help :/
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