Payoneer was a good and honest company when it was just launched and I have been using it for almost a decade without any issues whatsoever until about October 2020. Unfortunately, things started to go downhill after the Wirecard supposed $2b missing funds scandal and subsequent bankruptcy which was when Payoneer started to freeze and cancel account holders’ funds and cards, giving all sort of BS reasons to not reactivate the accounts and cards, therefore ‘stealing’ the funds of its account holders under the pretext of identity verification (which will never be accepted and approved).

Although Payoneer has denied this, it is reasonably possible that the company may have been affected and could have lost funds during the Wirecard fraud fiasco and is no longer liquid to honour all of its account holder’s payments.

As such, it probably has decided to dishonestly freeze and cancel account holder’s funds and cards so that the company need not honour any payment to its account holders. Their latest ploy to delay and withhold funds is to ask for National ID under the guise of re-verification, only to reject it again and again and again and then repeat the same BS over and over again till the account holder gets tired and gives up, thus allowing Payoneer to keep the funds for its own use. I have been there and done that and have all the emails archived to prove that.

However, to appear legitimate and viable, the company would allow about 1 out of 5 or maybe 10 account holders to continue to use their accounts and these are normally accounts belonging to residents outside Asia. From the many feedbacks and postings, most of the currently affected account holders are based in Asia numbering hundreds of thousands probably.

Their supposed Customer Service (be it phone, chat or email) is practically non-existant and if they find that they cannot resolve or answer any of your questions, they just either ban you or ignore you completely, which is what I have experienced with their community blog, phone and email. When I last visited their community blog last week, it had thousands of negative comments but all has been deleted.

So if you are a Payoneer account holder that has been affected by their latest ploy and have funds frozen and taken on a “ID verification” merry-go-round, then I would strongly suggest that you stop wasting time with Payoneer and immediately file a formal complaint against Payoneer with the relevant authorities, which means in the US and Ireland, where its headquarters are based and incorporated in. It would also be good to file a former complaint with the Central Bank of Ireland where Payoneer Europe is licensed to operate as a card-issuer. Should you have extra time, it would also be good to lodge a complaint with Mastercard International as Payoneer is obviously tarnishing their good name.

A further list of agencies which the dishonest company is subjected to jurisdiction is available on this page: https://www.payoneer.com/enterprise/customer-disclosures-and-complaints/

As it stands, all evidence currently seems to suggest that Payoneer is taking its account holders for a ride and no one should lose their funds to a dishonest company this way. So file the complaint asap and take this company to task.


Payoneer's Top Management

It would presumably be pointless to file any complaint to any of its CEO or management team since they are probably is instrumental in Payoneer’s current dishonest practices. The verification team probably has the board’s blessing to delay and deny verification and payments to its account holders.

The former PayPal was doing exactly the same thing decades ago and was taken to task by the federal authorities and slammed with multiple class-action suits, so there are no reasons why Payoneer cannot be held accountable.