Does Payoneer (setting up as payment intermediary) report to Tax authorities?

[the cake is a lie]

I'm non US resident with an LLC, I live in Europe.

Some european affiliate marketing companies (such as Awin or Tradedoubler) uses Payoneer as mandatory payment method in order to send money to ACH american bank accounts.
I tried to setup Payoneer but they asks by the owner data behind the LLC (name, tax residency and issued government ID). They do in order to fill W-8BEN form. But I don't like put my real data.

What do you think?

 

[Clearsky Network]

I think any reputable entity will ask for KYC, Payoneer is highly regulated and follow all the AML policies, its logical that they will ask for tax residency and ID.

 

[Alexmorgan]

Just stay away from Payoneer

Robot support no human most of times

If you reached to humans they copy paste

Even if they gave you an account manager they will close your account without explanations they just love to do that because they earn money out of that

 

[Mike Forman]

Just stay away from Payoneer

Robot support no human most of times

If you reached to humans they copy paste

Even if they gave you an account manager they will close your account without explanations they just love to do that because they earn money out of that

Personal experiences don't always reflect majority experiences.

There are many in Asia that use payoneer as it is the standard recommended EMI for non EU, non US corporations that do ecommerce in Europe, US etc. The service provided is different according to your jurisdiction, some countries have their own dedicated support team which you can reach out to at any time.

The service we got has been good so far and moving 6 figures without any issues. When you are not able to provide valid KYC documents or have some proof about your business transactions just as with any EMI you can and will have trouble.

When moving larger amounts you can negotiate better rates with them, since the standard rates are high.

I'm non US resident with an LLC, I live in Europe.

Some european affiliate marketing companies (such as Awin or Tradedoubler) uses Payoneer as mandatory payment method in order to send money to ACH american bank accounts.
I tried to setup Payoneer but they asks by the owner data behind the LLC (name, tax residency and issued government ID). They do in order to fill W-8BEN form. But I don't like put my real data.

What do you think?

Payoneer ofcourse requires to know who is behind the LLC as they know this pass through structure and are required to do so for obvious AML reasons. Using fake information will result in having your account suspended and difficulties to ever even get the funds out.

One shall assume that they can report your balances to the country of residence, but in case of an LLC this is much less clear if they will report to the country of residence. Best is trying to ask them using different details and IP you used for your registration so your questions are not linked to your account.

 

[JohnLocke]

Best is trying to ask them using different details and IP you used for your registration so your questions are not linked to your account.

This should be standard procedure for everytone who is going to ask such questions to an EMI / Neobank they currently use.