€50K on the payoneer, is it safe?

[DarkMonza]

Hey, guys,
I'm at 50K EUR on Payoneer. Should I worry about transferring this money to a bank or can I keep the money there?

I've been using Payoneer for two years, I've never had any problems. But I would like to know if I can trust Payoneer for large amounts.

If I have to transfer the $, who would be the best bank to send this money?

Thank you for your feedback

 

[Flatworld]

I think 10k~20k is the right amount you should keep with the Payoneer

 

[TurnedToRobot]

I would never trust them such amounts.

 

[void]

I guess it's relative to your general situation - if it's half of your overall funds or more it's not a good idea. On the other hand if it's 5% of your wealth there is no reason to care.

 

[DarkMonza]

Thank you for your answers

Do you usually divide the $ between multiple banks and EMI's or only in 2 or 3 banks?

What is the safest country to open a bank account with these amounts?

Thank you to everyone who can help.

 

[void]

Do you usually divide the $ between multiple banks and EMI's or only in 2 or 3 banks?

Only Martin Everson is qualified to answer this question :-D what's the current number of your accounts? 100+?

 

[Martin Everson]

Only Martin Everson is qualified to answer this question :-D what's the current number of your accounts? 100+?

107 now and dwindling. Lost all my Citibank accounts and then some.

I'm at 50K EUR on Payoneer. Should I worry about transferring this money to a bank or can I keep the money there?

Never keep that much in Payoneer unless you can afford to lose it all.

 

[Samuel Newman]

Have a lot of clients with Payoneer accounts, even with 150 k EUR per month, nobody had problems with it
but EMIs are not about saving money anyway, do not see any reason to hold money there

 

[Flatworld]

EMIs are not about saving money anyway, do not see any reason to hold money there +1

 

[Martin Everson]

Holding money with a a US Delaware company like Payoneer or one of its international subsidiaries is never a good idea in current climate. Golden rule is transact via EMI's but keep your money (<100k) in real banks with deposit insurance and AAA treasury bonds for greater than 100k. You will thank me one day.

 

[Flatworld]

Holding money with a a US Delaware company like Payoneer or one of its international subsidiaries is never a good idea in current climate. Golden rule is transact via EMI's but keep your money (<100k) in real banks with deposit insurance and AAA treasury bonds for greater than 100k. You will thank me one day.

thank you

 

[Toxigen]

Hey, guys,
I'm at 50K EUR on Payoneer. Should I worry about transferring this money to a bank or can I keep the money there?

I've been using Payoneer for two years, I've never had any problems. But I would like to know if I can trust Payoneer for large amounts.

If I have to transfer the $, who would be the best bank to send this money?

Thank you for your feedback

I will withdraw them all ,you will never know if they shut down tomorrow

 

[fuorissimo]

Holding money with a a US Delaware company like Payoneer or one of its international subsidiaries is never a good idea in current climate. Golden rule is transact via EMI's but keep your money (<100k) in real banks with deposit insurance and AAA treasury bonds for greater than 100k. You will thank me one day.

Which?

 

[EliasIT]

Does anyone know how I can get a payoneer account? I struggling to get approved by them so I struggle to find any reliable firm that can introduce / invite me to them for an account opening?

How much do you trust payoneer as for your money, say you have 50K - 100K account balance you want to move to them?

 

[rowena]

Payoneer is one of the safest EMIs and they're regulated in the USA but it doesn't matter how much or which, never use EMIs to store money. If you have tax problems then use your card and withdraw all. Their cards generally have high withdrawal limits like 5k or 10k per day.

Does anyone know how I can get a payoneer account? I struggling to get approved by them so I struggle to find any reliable firm that can introduce / invite me to them for an account opening?

How much do you trust payoneer as for your money, say you have 50K - 100K account balance you want to move to them?

If they rejected your application then it means they will not open an account for you also there is no "introducer" for Payoneer.

You also can't move your balance or your company balance to Payoneer. They only allow incoming payments from third parties.

 

[cyprusbanker]

If they rejected your application then it means they will not open an account for you also there is no "introducer" for Payoneer.

So everyone can apply for a Payoneer account, that's cool.

Looking at the signup form, then I don't see there is mentioned payment from customers by credit card (Visa or MasterCard) does that mean you can only receive payments from other Payoneer users, PayPal and Amazon or what exactly does it mean?

 

[rowena]

@cyprusbanker
Payoneer is not a payment gateway. They will issue a bank account in different currencies and you can collect payments from your clients(amazon or any other third party company). You can withdraw your funds by using their card or directly to your bank account.

 

[sonato]

There are merchants asking to pay by Payoneer, don't they process credit cards at all?

 

[rowena]

There are merchants asking to pay by Payoneer, don't they process credit cards at all?

Their main business is receiving accounts like I mentioned before but yes you can create credit card supported payment request links for your clients(not from consumers only for business to business transactions) or you can request money from other Payoneer users like merchants(they can use their balance, not credit card). That is why Payoneer is not a stripe kind credit card processing service. Also, you can't top up your Payoneer account via card.

 

[lonizzita]

Holding money with a a US Delaware company like Payoneer or one of its international subsidiaries is never a good idea in current climate. Golden rule is transact via EMI's but keep your money (<100k) in real banks with deposit insurance and AAA treasury bonds for greater than 100k. You will thank me one day.

which physical bank do you recommend for an LLC with ease of opening?