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Every buddy is worried about their frozen funds stuck in payoneer, on other hand, we are getting unclear updates from the payoneer, but we guess this could be a good news for us, here is what Keren Levy the COO of payoneer said

Hi, I’m here, it’s one of payoneer customer care centers where a team all over the world are busy answering your questions. We’re working around the clock to handle the situation with a wire card issued cards, and they’re doing everything possible to resume all our services as soon as possible. We know that many of you are hurting from this situation and they’re looking for answers. I’m truly sorry that you are going for this and understand how worrying it is for you.

Keren Levy

She continued

I’m here to give you straight answers to the questions that you’ve asked us in the last 24 hours. What is happening with Wire Card? Your prepaid cards is issued by Wire Card Card Solution Limited in the U.K. They are independent of wire cards, A.J. in Germany, which filed for insolvency on June 25th. The UK company is regulated in the UK by the Financial Conduct Authority known as the FCA. On Friday, the FCA issued a temporary freeze on the work, or the UK, with a stated objective to protect customer money, not to take it away from you.

We’re communicating directly with work and UK and the FCA who are working hard to lift the freeze as soon as possible when they lift the freeze. We’re already prepared everything so that your card will once again become active and your funds will be accessible for you.

When will I be able to access my funds?

Why could UK is working closely with the FCA to address their concerns so that the temporary freeze can be lifted as soon as possible. And your cards can continue to operate as before as the FCA impose this freeze not be on there. Payoneer unable to say with certainty how soon this will happen.

Payoneer highlighted to the FCA the urgency of the situation and trust that they understand the importance of lifting the freeze as soon as possible.

Are my funds safe?

All your funds in your payoneer account are safe. You can continue receiving payments from marketplaces like Amazon, Urban Be Getty Images and Fiverr, as well as clients worldwide. This funds will be received to your payoneer account and from there you can withdraw them to a local bank account.

Further they said, payoneer highlight again. They are temporarily frozen, not lost. The FCA has placed a temporary freeze on all activities with the primary objective of protecting the money of customers using cards issued by Wire Card UK in line with the requirements of the UK regulator. Cardholder funds are held by Wire Card UK and safeguarded accounts.

Can I withdraw funds on my Payoneer virtual balance to my bank account?

Yes. Any funds on your virtual balance can be withdrawn to a bank account and related to wire card. Unfortunately, we experience a technical issue during Saturday that may have resulted in the inability to withdraw funds. This issue was resolved and you can withdraw your funds to your bank account as normal.

Why didn’t you move the money from the card to the balance earlier?

These events unfolded very rapidly. The FCA correctly intervened and follow their protocols to ensure wire card’s full compliance with relevant regulations. We have highlighted to the FCA the urgency of the situation so that your card is unfrozen as soon as possible. Like other banks and financial services using wire card card solutions, we depend on the FCA decision in this case, ASPEY. Does not hold the balance on your wide cards. Prepaid cards were not permitted to move any funds off the card.

Can I use the EU payment service at this time?

Yes. You’re receiving accounts are unaffected and operating as normal. You can continue to use them to receive payments in euro and the funds will end payoneer account, as always. Are your payment services issued by wire card bank in Germany, which is not connected with a developing situation with you? The UK card company, we are communicating with the regulator in Germany, which is operating the bank business as usual. In parallel, we are working with Citibank to extend to you as soon as possible and the alternative you’re receiving account. We’re also coordinating with our marketplace partners to ensure you can switch it seamlessly. We will update you as soon as this is available.

Can I receive a card from another issuer other than wire card?

we’re working on providing alternative solutions for your card and we’ll contact you as soon as this is ready. We’re working very closely with MasterCard in Europe to move your cards activity over to appear near issued card. We will contact you as soon as we have an alternative card option available to you.

Is Payoneer at Risk?

Absolutely not. The prepaid card service is one of many services we provide, and the current solution does not in any way impact upon payoneer stability. Right now our customer is our top priority and we’re doing everything possible to ensure you can once again access your funds. In parallel, we acted quickly to ensure that you can continue getting paid and continue to enjoy your earnings to a local bank account as normal. The situation with wire cards continuously developing. We will update you as soon as we have additional information. We know that this situation has created hardship for your business and family. We appreciate the fact that you have trusted us with your business as you have done in the past fifteen years.

On a personal note, I’ve been with perineal for eleven years now. I know that our team could not be more committed to our customers and will do everything possible to navigate this challenge and bring you the security you expect. Thank you.

Source: www.payoneer.com

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