Receiving account in Payoneer

[migueljuan]

I opened an account with Payoneer and need USD and EUR accounts. In order to open the USD account I needed to link an existing USD with the same company name, which I have and it all worked out. However, I don't have another EUR so it looks like I can't open a EUR receiving account. Basically what this means is that I won't have an IBAN.
However, I am able to convert USD to EUR and have Euros (which I can spend with the EUR debit card).

My question is, if I don't open a EUR receiving account with an IBAN, where do the Euros that I converted exist or go to? Is there a dedicated bank account with my name on it in the background or are they part of a big pool of money? I need to be able to print out a bank statement for the Euro account that shows a real bank account number.

 

[apres777]

migueljuan said:
I opened an account with Payoneer and need USD and EUR accounts. In order to open the USD account I needed to link an existing USD with the same company name, which I have and it all worked out. However, I don't have another EUR so it looks like I can't open a EUR receiving account. Basically what this means is that I won't have an IBAN.
However, I am able to convert USD to EUR and have Euros (which I can spend with the EUR debit card).

My question is, if I don't open a EUR receiving account with an IBAN, where do the Euros that I converted exist or go to? Is there a dedicated bank account with my name on it in the background or are they part of a big pool of money? I need to be able to print out a bank statement for the Euro account that shows a real bank account number.
Click to expand...

I don't think you actually need an EUR Bank Account to receive an EUR IBAN. (I have US Details / GBP Details and so on and don't have any other US Bank Account linked.)

Reach out via Live Chat to Support they are "mostly" supportive, unless you run into "funds freeze".

Here's the link it's sometimes not showing when your in the payoneer support center, you can also google it.

https://payoneer.custhelp.com/app/chat/chat_launch

 

[yngmind]

Hey guys, is there any good solution for this?

I'm trying to open a bank account for my friend's UK company, but the company doesn't have any bank accounts yet, got rejected by mostly all EMI's.

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I'm not a tax advisor, so please don't consider my posts here as tax advice. Always seek a professional opinion.
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Business Bank Account for your US LLC Remotely

 

[Forester]

yngmind said:
Hey guys, is there any good solution for this?

I'm trying to open a bank account for my friend's UK company, but the company doesn't have any bank accounts yet, got rejected by mostly all EMI's.
Click to expand...

🙂 A solution for what? For doing magic with a Payoneer account or for getting some account opened for your friend's company?
If the former, I am not sure but I think there is no good solution 🙁; if the latter, it depends but rather open a new thread for this discussion...

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I am just a simple countryman. Anything I say is only a personal opinion, not a certified advice 🙂

If you think it makes sense, you can like it; if opposite, please, tell me, why I am wrong...

 

[kokunut]

Did you try with Revolut, Zen, Wise, Currenxie and many of the other EMI's mentioned in tons other threads?

 

[yngmind]

kokunut said:
Did you try with Revolut, Zen, Wise, Currenxie and many of the other EMI's mentioned in tons other threads?
Click to expand...

All rejected.

Forester said:
🙂 A solution for what? For doing magic with a Payoneer account or for getting some account opened for your friend's company?
If the former, I am not sure but I think there is no good solution 🙁; if the latter, it depends but rather open a new thread for this discussion...
Click to expand...

The solution to bypass business bank account verification

I know one that worked for my friend.
It's a Payoneer personal manager. They give you a special link to apply that doesn't require business bank account verification. But to have the link, you should have some other payoneer account with a big volumes 🙂

I think the whole idea of that verification is stupid. It used to be much easier with Payoneer. Most people apply to Payoneer because they don't have any other option. If they did, they definitely wouldn't use a service like Payoneer.

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I'm not a tax advisor, so please don't consider my posts here as tax advice. Always seek a professional opinion.
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Business Bank Account for your US LLC Remotely

 

[yngmind]

Bumping this thread.

Does anyone have a good solution for this? Is there any way to bypass the business bank account verification?

I have no idea why they even introduced it. People are opening Payoneer accounts for their companies because they don't have any other choice, and most don't have another business bank account.

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I'm not a tax advisor, so please don't consider my posts here as tax advice. Always seek a professional opinion.
___
Business Bank Account for your US LLC Remotely

 

[daniels27]

yngmind said:
Bumping this thread.

Does anyone have a good solution for this? Is there any way to bypass the business bank account verification?

I have no idea why they even introduced it. People are opening Payoneer accounts for their companies because they don't have any other choice, and most don't have another business bank account.
Click to expand...

For a US LLC? Yes, I can help.