Payoneer Mastercard Service Temporarily Suspended

Payoneer Mastercard Service Temporarily Suspended. Payoneer MasterCard, the popular medium for withdrawing money from online marketplaces and shopping online, has been temporarily shut down. All Payoneer prepaid MasterCard has become obsolete indefinitely. This means that if you have a Payoneer MasterCard, you can no longer use it. The MasterCard balance in your Payoneer account has also been temporarily frozen, meaning you can't withdraw that money for now.

Payoneer Mastercard Service Temporarily Suspended

Payoneer reports that they have temporarily frozen the account balances of MasterCard users and hope that you will be able to withdraw this money again in the future. However, at this time, you will not be able to withdraw the MasterCard balance in your Payoneer account indefinitely.

• 35+ Blogging Resources You need to know to Improve your Blog

However, if you have any funds in your Payoneer account in excess of the prepaid MasterCard capacity, you can withdraw the amount from the Payoneer account now - not using the card but through a bank account linked to your Payoneer account.

What will happen to the balance in Payoneer? How to make money from Payoneer?

Simply put, if you have a dollar in your Payoneer MasterCard account, you can't withdraw that dollar at the moment. If you have a lot more dollars in your account which is actually more than the capacity of Payoneer MasterCard, then you can withdraw that extra amount.

• 4 Best PayPal Alternatives for Making Online Payments

By logging in to your Payoneer account you will know your card balance and account balance. If the account balance is more than the card balance then you can withdraw the excess amount through the bank. The maximum balance on a Payoneer card can be 10,000 or less (not sure). Ordinary users do not keep so much amount in Payoneer.

Why is Payoneer MasterCard closed?

Payoneer is headquartered in the United States and the card-issuing service is provided by Wirecard Card Solutions Limited, a UK company.

The original owner of the company, Wirecard Card Solutions Limited, is a German company called Wirecard AG.

Recently Wirecard AG got involved in a financial scandal. About 200 million disappeared from the company's account. Marcus Brown, CEO of Wirecard AG, resigned, and was arrested in Germany. Within days, Wirecard AG began the process of declaring itself bankrupt.

The UK Financial Regulatory Authority (FCA) then suspended all card operations at Wirecard Solutions. Payoneer states that since Payoneer's prepaid MasterCard has been issued by Wirecard Solutions in the UK, your Payoneer MasterCard will no longer work. You cannot make any transactions with it at this time. You will also not be able to use the money you brought to Payoneer with this MasterCard - until this legal issue is resolved.

Yes. Now you can withdraw money in your Payoneer account in a new way. In order to withdraw that new balance, you can withdraw your new balance from Payoneer in that bank by adding your own bank account with Payoneer.

• 100+ Ways to Make Money Online (Easy & Without Investment)

Various online freelancing marketplaces such as Upwork, Fiverr, Freelancer.com, 99 Designs, etc. offer money withdrawals to members through Payoneer's prepaid MasterCard services. Now after the Wirecard incident, everyone has to think anew.