You may notice, when you go into your Payoneer account, that some of the transactions are listed as pending. So, what are pending transactions in Payoneer? What does it mean when a Payoneer transaction is listed as pending? Here is everything that you need to know about Payoneer pending transactions;
Pending Transactions are because Payoneer transactions are not processed immediately
What you need to know is that it takes a little while for Payoneer transactions to be processed. We have previously talked about pre-authorized payments. Pending transactions are those transactions, including Payments, that are still pending. Usually, higher amount transactions tend to spend a lot more time on the pending list.
Pending transactions can also be because Payoneer has requested verification of your account. Usually they ask you to provide some form of documentation. After you have done this, it may take time for them to release the payment while they are reviewing your verification documents. So, you may need to wait a bit.
How long do Payoneer payments remain pending?
There is no hardrule when it comes to Payoneer pending transactions. However, on average, you can expect transactions to remain pending for anything up to 2 days. If you feel you have waited too long, don’t hesitate to get in touch with Payoneer to ask what the issue is about.
You need to be patient
The thing about financial payments is that you need to be patient. Most online payments take a couple of days to be cleared. This is something that happens even when you are receiving money via Western Union. When I receive money via Payoneer, as an example, it takes five days for it to be cleared! That is something that also happens with Upwork. In that case, I actually need five days for Payoneer and five days for Upwork, meaning I only receive payment after ten days! Online payments are, therefore, seldom cleared in a single day.