Dear Valued Customer,
Due to instructions from the Indian local banking authorities, Payoneer Prepaid MasterCard cards will be blocked for local purchases (POS Purchase) made in India within the next few hours, and ATM transactions will probably be blocked soon after.
Your Payoneer card continues to be functional anywhere other than India (including transactions made online on global websites), and all funds in your account are secure.
Other payment companies have experienced similar restrictions in the past, and most have been temporary and have taken a few weeks to resolve the situation. Payoneer and MasterCard are working with local banking regulators to address the situation. Payoneer is also preparing alternative ways for you to continue to receive payouts, and expects you will be able to continue to receive your payments in the future. We apologize for the inconvenience and will keep you informed.
We have opened a special mailbox for you to communicate with our Customer Support. Please feel free to contact us at IndiaSupport@payoneer.com.
Payoneer Customer Support
I got this email at 2 PM last night and so I assume I will not be able to transact now but still I will give it a try to see if it works for ATM withdrawal because I have more than 1000 USD in my debit card.
What are your views about Indian banking system. I doubt it will be too positive.
Update: I tried using my card at an ICICI Bank ATM and it says Invalid Transaction, it looks like ATM transactions are also blocked as of now.
Update Jan 20 2011: Got this email from Payoneer for my recent Loading of Payoneer card.
Following our recent communication regarding service changes in India, your new payout cannot be loaded to the card at this time. Within a few days a local bank transfer service will be available to you. Your money is fully secure. Once the service is up we will contact you via e-mail to collect your bank information and we’ll then transfer the funds to your bank account.