I don't think they are criminal, but there definitely is monkey business going on. Payoneer will insist on getting your social security number. That is standard for a US Bank, and Payoneer works through a US Bank. But Payoneer doesn't care about your social security number or anything else about you. They just give all the information to Spadester. [Payoneer Customer Support disputes this claim I've made; however, I do have proof. I am currently discussing this issue with Payoneer.] And Spadester tells Payoneer whether you should be approved. Spadester will likely tell Payoneer to ask you for scanned copies of various ID. And Payoneer will send them to Spadester.
Payoneer charges lots of fees. I don't think there are any hidden Payoneer fees, so you can decide if you like the Payoneer fee structure. Personally, I think it's ridiculous. Also, Spadester charges a fee if you transfer money to Payoneer, so you'll pay twice (once to Spadester and once to Payoneer). Then you'll pay twice if you try to take out money from an ATM (once to Payoneer and once to the owner of the ATM - I searched high and low and couldn't find any surcharge free ATMs). You'll also pay an activation fee plus monthly fees, but all of that is documented when you apply for the Payoneer card.
Thursday, August 6, 2009
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Please note the comment in my "Maybe my final post" entry. It does not seem reasonable that Payoneer should allow Spadester to remove money from my card. But as I wrote above, there definitely is some monkey business going on between Payoneer and Spadester.
ReplyDeleteI also noticed something interesting on the "Contact Us" page on Payoneer. If you click on "send us a question", there's a pull-down menu to select the Payoneer partner. Over 50 partners are listed, but Spadester is not there. Supposedly, Spadester has been a partner for a very long time, so why is Payoneer hiding Spadester as a partner?
spadester has never touched any money on my payoneer card..how is it possible that they can do this?
ReplyDeleteIn my case, Spadester was the Payoneer partner. Apparently, that allows Spadester to block access to my card. Once the card is blocked, you cannot access the card at all, and all funds that were on the card are inaccessible.
ReplyDeleteI have no reason to believe there would be any problems with Payoneer, except for those people who have Payoneer cards obtained via Spadester.