In this article, I will be breaking down everything you need to know about the Payoneer Security and Safety.
- Is Payoneer a trustworthy service provider or just after my hard-earned cash?
- With all of the possibilities for fraudulent activity that exist within the world today, does Payoneer come with its own share?
- 8 Important things you need to know before using Payoneer
- What kinds of personal information does Payoneer collect?
- And so much more…
Can You Get Scammed on Payoneer?
Yes – but there are many potential scams to watch out for when using an online payment system such as Paypal. However, if you know what the warning signs are, then it can be easier to avoid them and safeguard against scammers and hackers.
Many cases of fraud occur to unsuspecting individuals who are unaware of the signs they need to keep an eye out for. If you’re one of these people, you should take note that there are 8 tips below that could save your account before it’s too far gone and someone else has hacked into it or tricked you.
Is Payoneer Safe and Legit?
Payoneer is a safe, legitimate and trustworthy platform with strong consumer protection put in place to ensure safety when using this site. Though this may be true; there are still some risks no matter where you go. You always have to maintain the right steps for protecting yourself through securing your account, updating passwords frequently and keeping tabs on what you input for information so that someone else doesn’t gain access to it.
OK, I know what you’re thinking because Payoneer is safe then why…
We have all heard about the dangers of online payment systems such as Payoneer.
As for them being scammed- well, maybe they are. But as for me? It’s all worth it.
They got scammed not due to Payoneer but because they made mistakes themselves.
You might be wondering, why these mistakes were made and how you can make sure they’re never made again.
Let me recount my experience with Payoneer before we continue.
My Experience with Payoneer:
When I first started my company, there were many different tools needed to make it successful. One of these was Payoneer which provided an important service when working with platforms such as Upwork and Fiverr.
Why is it necessary for me?
It is necessary for me; not just for me but for many freelance Pakistani citizens who are unable to use PayPal.
Based on my experience so far, I have never faced any issues with Payoneer until now.
Now that you know whether Payoneer is safe or not, what other questions might be going through your mind? Does it come with the possibility of scams?
Tips To Be Safe On Payoneer
As I mentioned before, some people get taken advantage of because they do not know what to watch out for when it comes to scams.
Below are eight measures you can take to keep your information private and secure.
1. Never Click On Phishing Emails
Phishing scams are when thieves try to steal personal information from you. They pretend they’re someone else, and then ask for your login credentials or financial information.
You might receive fraudulent emails that look like they’re coming from Payoneer, but are actually not sent by them.
Here’s an example of a phishing email:
It appears as if an email was received from Payoneer but, in reality, it wasn’t.
Beware of fake Payoneer links that direct you to dummy sites with a fake logo.
These are created by scammers who want to steal your account information so make sure to double-check everything before entering it do not trust unverified emails from Payoneer but verify them yourself through a browser instead.
Most of the time, Payoneer will only email you about confirming your new account or when you’ve received or sent payments.
If somebody tries to steal your information, click here to report it immediately.
2. Protect Your Devices
To access your account, you will always require a device – whether it be a mobile phone, laptop, tablet or something else – and it is your responsibility to ensure that these devices are either kept securely with you at all times or have passwords set on them.
Besides the following tips, here are some other helpful hints to keep you safe:
- Do not install root applications on your devices if you want to avoid malware.
- Your account information, etc.
- Your devices need to be password protected in order for people to not get access to them.
- Avoid public Wi-Fi connections when you’re managing your Payoneer account; instead use mobile data if you’re out.
- Always enable remote wipe security feature, which will allow you to easily erase all your device data permanently in case your device is lost or stolen.
There are many ways to keep yourself safe from hackers and cybercriminals, but protecting your phone physically is arguably the best way because it can’t be hacked remotely.
3. Make Strong Password & Keep It Safe
Many people have been creating passwords such as 123456, yet no one realizes how dangerous these are. A strong password is always recommended to prevent your account from being hacked and becoming an easy target for cyber-criminals.
A strong password contains all of the following characteristics:
- Lower and upper case letters.
- Use numbers, letters, and symbols (@, $, # , %, etc.).
- At least 8 characters long.
- Check out this infographic to create better and stronger passwords.
4. Watch Your Balance Carefully
Maybe you shared your login credentials with somebody else or somehow got access to your account through your phone or pc without changing any of the security settings.
That person may make a series of small withdrawals – as little as $1-$5 each. And they hope that you don’t notice the missing funds on your account because these people are sneaky thieves trying to steal from you.
So keep an eye on your bank account and watch for suspicious activity like this!
5. Never Share Your Login Credentials with Anyone
Keep in mind that Payoneer will never request your personal details such as username and password via email, phone, or chat.
You may be receiving fake messages from people posing as members of Payoneer, but remember it is just a scam.
Also, Payoneer will never ask for your account password through an email and then redirect you to another website. If someone contacts you claiming to be from Payoneer requesting your login information, do not give it up because they are probably trying to steal it.
If you want to change your password, always make the changes on the official Payoneer website.
6. Turn On Two-Step Verification
Two-Step Verification adds an additional layer of protection which makes it difficult for people who are not authorized to access your account, even if they know the password. This feature is turned on automatically when you set up Payoneer.
Whenever the app asks you to verify yourself, you’ll be asked to enter your password followed by a one-time code sent either through text message (SMS) or over the phone.
The code will soon expire after a short time period after you’ve received it, so please enter within 1-5 minutes or else you’ll have to request another. To get the code, choose the same number as when you created your Payoneer account or enter a new one (by editing what’s displayed).
Enabling two-step verification is very helpful because someone cannot access your account without the proper codes and perform certain actions and financial transactions.
In order to properly activate Payoneer two-factor authentication, please take note of the following steps:
- Once you logged in, head over to “Settings” and under the tab, you’ll see an option “Security Settings” click on that.
- Now click on “Turn On” under “Two-Step Verification.”
- Please input the mobile number where you would like to receive your verification code.
- You will receive an authentication code via your phone, please input that.
Please Note:If you are just getting started with your account, then it won’t have any money in it yet and you won’t be able to see the Security Settings tab at the top of the screen. Additionally, two-factor authentication is currently only available in certain areas of Europe but this will change soon when Payoneer releases an update that includes this feature for all countries involved.
7. Use Payoneer On Secure Sites
Payoneer can be used on many sites to receive your payments including freelancing sites such as Upwork, Fiverr, or any other.
You may add it safely to established online markets like Fiverr or Upwork–but beware of scams and frauds lurking behind unverified marketplaces.
To keep your account safe, use your Payoneer account only when you access secure and trustworthy sites.
8. Use Private WiFi Networks, Never Public Ones
There are many public WiFi networks that can be found in restaurants, hotels, and airports- but DO NOT connect to these services without checking what kind of encryption they use.
Public WiFi networks do not usually offer strong data security which puts all of your private information at risk.
Using public WiFi networks can make it easier for hackers to attack anyone within the range of a vulnerable device or Wi-Fi point. You could share the same Wi-Fi connection with a hacker, who will probably take advantage of some of the most common types of hacking tools such as Man in the Middle (MiM) attacks.
Without going into too much detail about how MiM works – when someone wants to hack something they control all communications between you and them, which means they will get access to any data you send out regardless of what type – from emails and passwords to important business files.
To protect your information, we recommend logging in to Payoneer only when you’re connected to a trusted WiFi network. Do not log in on public hotspots such as coffee shops or libraries.
How Secure Is Payoneer?
Payoneer employs various security measures to keep our members’ accounts safe such as firewalls, CAPTCHA requests, cloud-based and in-house web application firewalls, bot-activity tracking, two-step verification, advanced duplicate site detection, virus protection system and we employ an SSL certificate for each member.
These are only some of the active and preventive measures taken by Payoneer to safeguard your account against hacking and bot attacks.
The company is also a US registered Money Services Business (MSB) founded in 2005, licensed for operation in 49 US States as a Money Transmitter, and has attained certification with the PCI Level 1 data security standard; all this will require substantial investment and dedication on your part.
Email Notifications To Alert You
If any unusual or suspicious activity is detected on your account such as when you update your profile, who sends you money, or who you send it to we will email you.
If you have been paying attention, then maybe you noticed that this transaction was not sent by you or there were any other odd happenings. You will need to contact Payoneer’s team right away so they can stop any financial losses from happening.
Is Your Personal Data Secure?
When signing up for a Payoneer account, are you at risk of handing over all your personal information?
It can be hard for some people to believe that their data is always safe from prying eyes. But this is only true if you take precautions – such as changing your passwords often, or using different passwords for each account (eg., one for your email account and another for social media).
Fraud Prevention
Every transaction is monitored and every account is carefully analyzed using advanced security measures to ensure no hacking or fraud occurs.
If an attack is identified, Payoneer’s security teams look for the origin of this attack and take measures to protect against fraudulent transactions before they happen.
Payoneer Privacy Statement About Your Information
It is no surprise that every single website collects information about you. Even if it’s just PayPal or Amazon, they’re still collecting data from you.
As a company dedicated to providing people with the ability to work online, Payoneer understands how important it is for them to provide reliable services. This is why they do their best to keep track of all personal information so that it can be used responsibly and without consequence.
What Personal Data Payoneer Collect?
When you register on Payoneer and use their services, they ask for these types of information:
- Identifiers such as your real name, email address, address, phone number, and/or other personal information
- Financial information includes bank and credit card information, details of any transactions carried out using any service provider, and credit history as applicable.
- Internet or network activity including interactions with its services or sites, cookies, and other tracking technology such as Google Analytics.
- Commercial information about your business.
- Geolocation data, IP-based Global Positioning System (GPS) information.
- Other information you provide them like when you contact and communicate, phone calls/emails and all other correspondences.
These are the types of personal information they collect about their users, and those details can be found on the Privacy Policy page.
Why Payoneer Collect This Information?
As I mentioned earlier, Payoneer needs this information.
Why does that information need to be collected?
The answer to your question is; how will they send you money if they don’t know your banking information? Like many businesses, it can be difficult to collect all of the required personal info from someone – so please provide them with your banking information when you apply.
- The phone number will be collected to verify your identity via text message.
- Email and address information is collected so that we can email you about your account activity, contact you for service or product-related communications (e.g., newsletters), send you promotions and specials offers, provide customer support, etc.
- Geolocation, to give you location-based features or deals.
- Trackers, including Google Analytics which most of the internet uses for website development, are primarily used to improve service quality, performance and user experience.
Collecting your personal data is necessary for us to process this transaction, so please don’t hesitate.
For more detailed information on the Payoneer Privacy Policy, please visit the link here.
Payoneer FAQs
Is Payoneer Legit?
Payoneer is a reputable company with countless satisfied members who are affiliated with other respectable companies such as Adobe, Freelancer and Shutterstock.
Is it safe to give Payoneer my Social Security number?
Yes, it’s safe to give them your social security number because they are asking for this information to confirm that you are indeed the owner of an account before accepting you as a customer.
Is Payoneer available in India?
Yes, now Payoneer is available in India and you can send and receive payments to your Indian Bank Account.
Conclusion
No one wants to risk their data being compromised before they know if they can trust a new service – especially when it involves money. That’s why Payoneer is such an appealing option since it means less work and more peace of mind. But there are some things you need to watch out for so you don’t become a victim in the process.
