Payoneer and the Silicon Valley Bank Failure

[songbirdcottage]

News outlets say that Payoneer was a depositor with Silicon Valley Bank - which just failed on Friday 03.10.2023. It may be too early to tell what the outcomes will be. 

Here are 3 articles I found about the situation:

Payments players caught in SVB fallout | Payments Dive, 

Payoneer CEO Comments, 

Payoneer, Unity Software, BILL disclose exposure to Silicon Valley Bank | Seeking Alpha

[gongor32]

Wow didn't know such a big bank could go under. 

[smashradio]

It's not the last one to go, that's for sure. Bank mismanagement gave us the 08 crisis. Government mismanagement gave us the inflation crisis. And now, bank mismanagement AND government mismanagement is working together to kick people in the butt. Go for gold. The physical stuff. Perhaps we can ask Fiverr to start paying us in gold nuggets. 💰

[songbirdcottage]

I'm wondering, has anyone has had any issues depositing their funds via Payoneer? 

[ridwansugi]

6 minutes ago, songbirdcottage said:

I'm wondering, has anyone has had any issues depositing their funds via Payoneer? 

Not Depositing. But got problem with receiving.

I got trouble receiving my money from client (outside fiverr):

"We need some additional information from you to process the following payment:

"Please provide a document that shows email correspondence or a chat transcript with your client, in which the services provided are clearly stated."

So i provide them with screen shot of my whatsapp chat + project invoice from email. It solve the problem 🙂

 

Didn't have any problem when withdrawing money from Fiverr though.

 

 

 

[smartdezigns]

4 hours ago, songbirdcottage said:

I'm wondering, has anyone has had any issues depositing their funds via Payoneer? 

No. I have successfully transferred the funds from Payoneer to my Local Bank Today (an hour ago) and faced no issue. Everything seems fine to me!

If you are still in doubt, then you can contact Payoneer via Live Chat and confirm it!

[harshidvasoya]

No, I think payoneer and silicon valley bank are both different things. I recently withdraw my payment and I get very smoothly. But if any one faces the problem kindly put here more details so other community member gets more idea.

[jeromae]

5 hours ago, songbirdcottage said:

I'm wondering, has anyone has had any issues depositing their funds via Payoneer? 

I just withdrawn mine and no issues. 

[michmikaia]

Payoneer's CEO has already said that there is SVB failure is no impact to Payoneer business.

[olyasr]

On 3/15/2023 at 3:58 AM, ridwansugi said:

I got trouble receiving my money from client (outside fiverr):

"We need some additional information from you to process the following payment:

"Please provide a document that shows email correspondence or a chat transcript with your client, in which the services provided are clearly stated."

I got the same email - basically, this is not because of some problem with them or something - later I got a reply, that they just need to check that you are not getting money for some illegal activity. I believe they are very careful and want to protect their reputation

 

 

 

 

[olyasr]

On 3/15/2023 at 9:23 AM, michmikaia said:

Payoneer's CEO has already said that there is SVB failure is no impact to Payoneer business.

Where do you read it? Is it some article, or social media post?

[michmikaia]

15 hours ago, olyasr said:

Where do you read it? Is it some article, or social media post?

It's on Payoneer blog website, and payoneer custom help. 

[songbirdcottage]

So, I went ahead and withdrew with no problems. Thank goodness!