I had to open a Payoneer account because one of my sponsors in the adult websites I run, MetArtMoney, sent me an email saying that the CCBill program they run was being placed on hold and I was advised to sign up with their own in-house affiliate program. I rather run everything under CCBill because they are a third party with no incentive for skimming and have always paid me on time for the last years, but it didn’t look like I had a choice.
In MetArtMoney own affiliate program if you do not live in the USA the only way to get paid is incurring a $50 fee for every check they send to you, plus another $40 fee from my local bank account for cashing in an international US check, that makes close to $100 vanished in thin air for nothing. I suggested to MetArtMoney to pay me with Bitcoins, since they already allow customers to pay using this currency, MetArtMoney affiliate manager very politely thanked me for my suggestion, but that is all, so I decided to open an account with Payoneer, as if I didn’t have enough online accounts.
The application process in Payoneer makes sure that you are not laundering money and the company knows who you are, you have to be over 18 and provide a valid government ID or passport with your name and date of birth visible, all of this has to coincide with the information in your Payoneer account. Your address can not be a PO Box and you may be asked to verify the phone number you have provided, which in my case was not necessary.
You will be asked for two security questions, make sure not to forget about the answers, the best would be to have a password manager like KeePass or StickyPassword where you can store this information. Payoneer staff asked me one of the security questions before providing any support, the same questions are used to reset your password if you forget it. The questions are as essential to remember as your password.
During the signing up you are also asked where the money you will receive comes from and the address of your website or online shop, so that it can be reviewed. Withdrawal of funds in Payoneer is easy if you are in the US or EU area, you can have local currency at your local bank or, if living a country not covered by the US/EU Payment service you can use a prepaid Mastercard, for a small fee, and withdraw funds at any ATM worldwide or spend the money online.
Here goes my first criticism for Payoneer, besides no 2 factor authentication being available, I find it unbelievable that a company processing payments will not allow me to use special characters in my password, only letters and numbers are allowed, this will greatly help malicious hackers trying to break into my account using a brute force attack.
The last Payoneer sign up step asks you to enter your bank details and tick a small box that says “I agree to the Pricing and Fees“, with two tiny links at the bottom, they open a new page listing the fees, which in turns contains another tiny link with an asterisk that says “Learn more about our competitive rates” which opens yet another page with conversion rates information posted on an old blog post. I found it very unprofessional having to click across pages and tiny links to find out what the fees are, and yet another tiny link takes you to another blog post with instructions on how to link a partner to your account.
After completing the application a brief message is displayed saying that review is in process and you will be contacted by email, the message can only be viewed for a few seconds on the screen before being automatically redirected to the main page, I am sure some people will not have the time to read it. The good news were that, although Payoneer says the application can take a few days, I received an email within an hour saying that I had been approved.
Another complain I have about Payoneer, on top of the enforced weak password, is that there is no checkbox that allows you to remain logged into your computer and you are constantly asked to enter your password an even a captcha, this is really not practical. I use Paypal too and they allow you to remain logged in if you are in your home computer, surely people are grow up enough to know if checking the remain logged in box is suitable or not.
The next step to get paid from MetArtMoney was to link my existing Payoneer account, and that is where they started to drive me crazy, every time I tried to link my Payoneer account I would get the cryptic message : “Unable to associate this funding source with your existing account. Please submit a new application, using an alternate e-mail address.”
After wasting some time reading Payoneer FAQ and not finding any information about this error, I decided to contact Payoneer support. I was happy to see they have live chat, which Paypal hasn’t got, although is not easy to find the link to the support chat, be warned.
I logged into Payoneer support chat and I was informed that there were 34 people ahead of me and I would have to wait around 40 minutes. Luckily you can browse the Internet and keep the window open while waiting for an assistant, 40 minutes later, and 20 more minutes of wasted time asking for my date of birth, being placed on hold, and a security question and being placed on hold yet again, I was told what the cryptic message meant.
Lo and behold, it turns out that in order to be able to get paid from MetArtMoney via Payoneer, I have to open the Payoneer account using the link MetArtMoney has on their site. I can’t just type into my browser Payoneer.com and open the account like I did, the account has to be opened using MetArtMoney link, otherwise Payoneer will not process the payments. Really? This is a joke, you tell me this now? WTF!
I now have a worthless Payoneer account that can not be used for the only reason I opened it for, and what is worse is that, although, the Payoneer account can be deleted, the email remains on file for ever and I can’t open any new account using that email address. This is not a serious way to run a company, they wasted my valuable time, asked for a copy of my passport and because I didn’t fliping use a referral link, that nobody told me to use, I have to resubmit everything again, just a like a banana republic.
A serious company does not behave this way, and a serious financial company allows for special characters in the password. I wish I had been able to review more of this company, too bad the account I opened with them is useless.
Update! I tried to open a second Payoneer account to receive MetArtMoney payments and if you use the referral link in their site the redirect you to a Payoneer Prepaid card, which is not free, not expensive, but the point being is that you have an activation fee and monthly fee to pay without having received any funds yet.
If you are a small international webmasters enrolled in MetArtMoney, I would set up the check payment option, this incurs a one off $2 fee when they issue the check, not before that.