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Payoneer
 

I just wanted to set up a payoneer account... it does demand now a existing bank account ? has that been before ? i thought it would be possible to open account without having an exisiting bank account ?

Does anyboy know hoe to open without giving those details ??

thanks

Re: Payoneer
 

How will you withdraw money from payoneer? Off course you need account

It's for those like you live in USA and you sell in uk they will give you uk account which then can be withdraw to your bank account

Re: Payoneer
 

@e2free - Global Payment Service gives the user access to SEPA / UK and US transfers as standard once applied. You don't need a bank account to withdraw funds from Payoneer at all, as long as you have the Payoneer debit card you are good to go.

Re: Payoneer
 

Exactly baut now i have To give the my Bank Details To Open Account which i do bot want really....

Re: Payoneer
 

Yes agree it can be used through card

Re: Payoneer
 

I Know that i can withdraw it by my Card but payoneer is asking already for an Existing Bank Account To Open a payoneer Account....

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 don´t know. Hope I could help :/

Re: Payoneer
 

Payoneer gives you the option to withdraw to bank or plastic card as far as I know

Re: Payoneer
 

As @azuser18 mentioned, Payoneer updated their policy a few weeks ago.

If you want to create a new account will need to provide them with a local bank account (which become something mandatory in order to open the account while it was optional in the past).

Once you provide a local bank account and after they approve your application, you will be assigned 3 collection bank accounts (USD, GBP & EUR) but they no longer send the Debit card right away.

You will need to order the card from your dashboard, which is possible to do instantly only for USD Debit Cards, for other currencies you will be able to withdraw to your local bank account. In order to be eligible to order the EUR or the GBP Debit Card you need to receive a few payments and have a minimum of 50.00 EUR/GBP and it's subject to approval.

PS: I got this info directly from a Payoneer support Agent.

Re: Payoneer
 

Just changed your IP address and use an address of another country such as Italy. You will see an option of card or bank acc

Re: Payoneer
 

How would this work in the long term when Payoneer starts asking for ID verification?