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Payoneer asking for information

Discussion in 'Business & Tax Advice' started by momschips, Dec 28, 2011.

  1. momschips

    momschips Registered Member

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    I recently received this email from payoneer:

    Thank you for using Payoneer. To keep up with all current regulations, our regulators have requested that we have the following information from our customers, for the business they are being paid for through Payoneer. Please note that all of your information is kept strictly confidential.


    • Please provide a copy of a valid government issued ID with a photo. The ID should match the details provided on your Payoneer account. Please make sure the document is clear, and has your name and your date of birth displayed clearly in English. You can scan or photograph your documents and attach them to your reply to this e-mail. We prefer jpg format under 1MB. Please make sure to send both sides of the document where relevant.
    • Please send us the URL of your website.
    • Please provide us with invoices relating to the payment of XXXXXXX received in your account XXXXXXXXX 2011.

    We would really appreciate it if you could provide the information requested within 5 business days.

    We thank you again for being a loyal Payoneer user.

    Have a great holiday season,

    The Payoneer Team


    I choose them cause they stated they didnt ask for any info in some other posts i read.... The amount is in between 10-15K usd, Im a freelancer, should i worry about taxation in that money or payoneer cancelling my account for any reason? I create and design websites and im located in the asia region

    any ideas? advices?
     
  2. darkstar69

    darkstar69 Jr. VIP Jr. VIP

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    i use payoneer myself for long time now and never had any problems.
    you can trust them.
     
  3. momschips

    momschips Registered Member

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    have you got this email as well? ive been using them for almost 2 years and this email appeared recently...
     
  4. 520am

    520am Regular Member

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    Just check the senders mail address.
     
  5. momschips

    momschips Registered Member

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    yup, its payoneer customers support email address
     
  6. Royalserviceteam

    Royalserviceteam Power Member

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  7. extremeboy

    extremeboy Jr. VIP Jr. VIP

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    Provide the required docs to them and it will be ok they rocks very trusty guys. :)
     
  8. Autumn

    Autumn Elite Member

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    It will be part of the "know your customer" anti-money laundering rules. Sounds pretty standard for a $15K payment. Taxation is up to you to sort out, they're just making sure it's not drug / terrorist / phishing money.
     
  9. Scripteen

    Scripteen Elite Member

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    Open support ticket with them to make sure the request is legit then proceed with the what they want. If you are not doing anything shady then you should not worry.

    btw, Was this amount paid by freelance site like elance and such? Why aren't they trusting that freelancing site as a payment sender?
     
  10. PayoneerTeam

    PayoneerTeam Registered Member

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    Hi!

    I'm Talia from Payoneer. Yes, this email is legit. We aren't giving out info to anyone, but we are required to have information on file for people who earn above a certain amount per year. You aren't in trouble or anything, and this isn't being turned over to any governmental agency or anything, but it's required by our regulators for us to have on file to comply with all of the laws we follow (which may seem annoying, but that's what makes your money safe with us).

    If you'd like further confirmation, please email me at taliakl at payoneer.com - it won't bother me at all, honestly. :D
     
  11. momschips

    momschips Registered Member

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    Is this amount disclosed to payoneer card holders?
     
  12. Nissim-Payoneer

    Nissim-Payoneer Registered Member

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    The specific amount cannot be disclosed, and is of course subject to change as required by our regulators. As Talia mentioned, it's necessary in order for us to comply with laws and regulations, however you can trust in knowing that those laws and regulations provide the excellent financial security that we're able to offer our account holders ;)
     
  13. borderfox

    borderfox Newbie

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    One thing that came up before but I don't think was fully answered. If $$ is loaded directly onto the card - as opposed to $$ that ends up on the card as a result of work carried out through the affiliate (eg. elance, freelancer, etc).

    1. Is the affiliate aware of the amounts that are used to load the card?
    2. Do you have any obligation to contact the relevant tax authorities with regard to these amounts?

    I would be grateful for a definitive answer on this.


    Regards,


    borderfox
     
  14. zebrahat

    zebrahat Elite Member

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    Let's save the Payoneer rep the trouble and just answer YES to the latter question above. Of course as a matter of law the card has to disclose to Big Bro the amounts if they go over a certain threshold in the course of a transaction or over a year ($10,000, or 200 transactions is what I've heard).
     
  15. borderfox

    borderfox Newbie

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    Let's not save them the trouble. Let's have them spell it out exactly. Is the threshold exactly as you intimate i.e. $10k (or ?10k in the EU) or 200 transactions.


    These are things that we need to be 100% clear on (I think many will agree with that).
     
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  16. zebrahat

    zebrahat Elite Member

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    I think we would all agree to such details. I was just getting to the punchline (yes, big Gov says, all your info are belong to us), rather than the minutia of what level of activity they say today triggers the reporting. The government changes those details constantly, and often disregards them by accusing people who stick below the thresholds of 'stacking' in order to avoid disclosure. Better to just accept the bottom line and plan your workarounds accordingly.
     
  17. Autumn

    Autumn Elite Member

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    I doubt they would come out and just say it because then everyone would just structure their transactions to suit. Also the know your customer regulations are deliberately nebulous: for example banks in most countries have to report (cash) transactions over $10K, but then the onus is also on them to report "suspicious" transactions of lower amounts. If the customer is later found to be doing something dodgy and the bank is found not to have acted defensibly then they are open to various types of censure, so really it is up to each financial institution to look after their own best interests.
     
  18. Nissim-Payoneer

    Nissim-Payoneer Registered Member

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    Hey,

    Your partner/affiliate program does not have direct access to your private load history.

    As Talia mentioned, we are required by our regulators, in addition to laws and regulations, to keep proper records. We do not, however, have an obligation to report these amounts (unless specifically requested by a government agency).

    Hope that answers your questions.
     
  19. Nissim-Payoneer

    Nissim-Payoneer Registered Member

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    I also just wanted to point out that the requested documents in the e-mail posted by the OP are being requested by our regulators, not a government agency. As mentioned, they are necessary to have on file in order for us to comply with laws and regulations, which in turn keep your accounts safe and secure.
     
  20. momschips

    momschips Registered Member

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    another question, lets say i receive 5K per month, but we are a group of people of 3-4 working together for this amount, can i have separate cards? lets say the card receiving being the main card with child cards for each person that is behind the main card? Im getting all this payments out of plimus but plimus just offers me 1 card, how can I manage this?