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Hi Everyone, I just got my funds frozen by payoneer which they claim to be a temporary freezing. This happened due to Wirecard AG filed for insolvency. Payoneer Prepaid Mastercard® Card is issued by a subsidiary of Wirecard AG , "Wirecard Card Solutions Limited (WCSL)" in the UK.

As of Friday June 26th 2020, the Financial Conduct Authority (FCA) which regulates WCSL, issued requirements on WCSL, freezing all prepaid card activity for the time being. in an email received this is the assurance given by payoneer and I quote[b] "We believe that cardholder funds are properly safeguarded and that the freeze will be temporary."[/b]

Payoneer also claims that further payments will not be frozen and that they will allow withdrawal to local bank account. Not doubt payoneer has been delivered for years until now. But to use these payment services one has to tread with caution. If for any reason you are going to use them, do not use them to store money. Only use these services as transport medium, i.e transfer your fund to a safe place immediately they comes in. Also, ensure that you have more than one of these services for transaction purpose.

To all those whose money are frozen on payoneer, I wish they resolve this issue as soon as possible, so that we can have our money back.

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