iKobo as Payoneer Alternative – iKobo For Business

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iKobo the prepaid VISA card for international money transfer to 170 countries has launched a new service, iKobo for business. This service is similar to Payoneer’s partner program in which US based companies can send payments to associates (employs, freelancers, affiliates) worldwide.

How does it work?

  1. iKobo partners can load their iKobo account with funds from your U.S. bank account
  2. Distribute funds to their payees either one at a time or simultaneously
  3. Each recipient will be issued an iKobo Prepaid Card
  4. Funds are instantly loaded onto the cards and can be withdrawn from over 1 Million ATMs or used to make purchases at the over 20 Million merchants who accept Visa

iKobo is not likely to get effected by policies of US financial institution like what happened with Payoneer  (earlier this month Payoneer banned 6 other countries and Pakistan due to strict financial regulation measures taken by US authorities).  Ikobo is a non US company so chances are it will continue to provide its services to countries like Pakistan. Ikobo is managed by M2 Financial, Ltd, based in Antigua, West Indies. iKobo Prepaid Visa Card is issued by Global Bank of Commerce, Ltd Intigua & Barbuda, West Indies.

iKobo supports Pakistan, so if you are a freelancer you can request your work provider (individual) or company you are working with to add iKobo as a Payoneer alternative.

More information from official iKobo for business page.

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13 Comments

  • Ali Ahmed says:

    The fees’s associated are looking very higher than payoneer.

    We should all suggest this to all freelancing sites, i think.

  • Nabeel Amin says:

    Lets pray that the AML Bill bill gets passed before June 1. Otherwise we are doomed!

  • Syed says:

    I read Somewhere ikobo does not support Pakistan. As some 1 asked them why Pakistan in their countries List if they dont support. But I am not confirmed personally.

  • Syed says:

    They support business who wana pay to 5-20 employees. Thats written in their business page

  • Aamir says:

    Payoneer is BACK!
    Payoneer is going to send a new card to everyone and before that you’d have to provide them your ID card’s photo copy. New card would have same features plus increased limit.
    Below is the actual response from Payoneer :

    “Following our previous notice about the change in our regulations, Payoneer is happy to inform you that we are able to offer you a new Payoneer card that will be usable in your country.
    The new card carries the same benefits you enjoyed with your previous Payoneer card, and can be used at ATMs, in stores and online. Additionally, the new card is configured for higher daily spending limits.

    Within a few days we will send you an email with instructions for ordering your new card from your Payoneer “My Account” at http://www.payoneer.com.

    Once you have completed the process of ordering the new card, you will receive an email requesting you to provide a copy of a valid photo ID. Providing the ID is mandatory in order for us to process your card application and issue a card.

    Once you receive the new card and activate it, allow two hours for funds and services associated with your existing card to be transferred to the new card.

    We look forward to completing the process of issuing a new card for you and hope you will continue to enjoy Payoneer’s services.

    Please feel free to contact us if you have any additional questions.

    Sincerely,

    Dominique

    Payoneer Customer Support”

  • Ikobo User says:

    Too bad Ikobo’s payment sending has been out of service for more than 1 week. The service is essentially shut down.

  • MHK says:

    HI guys how are you ? i get updates from payoneer that they will provide new card for pakistan users so get happy guys

  • I had some questions regarding Payoneer and I received this email today:

    Dear Customer,

    Thank you for contacting us.

    Early next week you are going to receive an email from Payoneer regarding our policy with working with Pakistan.
    We are very sorry for the inconvenience. The letter will answer all your questions. Have a great weekend.
    Please feel free to contact us if you have any additional questions.

    Sincerely,

    Richie

    Payoneer Customer Support

  • Mian Anees says:

    hi guys

    i am a free lancer of fine ptc .com tell me and help me how can i get my payment through any payment co. help me help me help me ………………………………………………………………………………………………………………..

  • Mian Anees says:

    please u cna contant me at my cell # +92 313 66 000 41

  • Good news:

    I received an email from Payoneer today that said:

    ScriptLance is glad to provide you with the new Payoneer prepaid MasterCard® card, with higher daily withdrawal and spending limits, to replace your current Payoneer card.

    Similar to your existing card, the new Payoneer prepaid MasterCard® card is a debit card and can be used at ATMs, at stores and online.

    New Payoneer pre-paid MasterCard card limits:
    The daily ATM withdrawal limits is $2,500.
    The daily purchase limit (at stores/online) is $2,500
    Total daily spending limit is $5,000

    This card will replace your existing Payoneer prepaid MasterCard® card.

    To order the new card, please login to your Payoneer My Account at http://www.payoneer.com, and request a new Payoneer card.
    The new card will be shipped to you within a few days, without any shipping charges or Activation fee.

    Order your card within the next 30 days. You can use your current card until you get the new card. Your existing card will be closed within 2 months.

    Once you receive the new card and activate it, funds and services associated with your existing card will be transferred automatically to the new card. Please allow 2 hours for the transfer to be completed.

    I checked the Payoneer Forum and found this:

    From Tomer, Payoneer Forum Admin:

    “I’m happy to tell you all we managed to find a solution for the change in regulations and effective immediately we are continuing serving our Pakistan card holders.

    New Pakistan users who want to use the Payoneer card to get their payments are welcome to sign up for the card, you will soon get an email inviting you to register for the new card.

    User will be required to provide a copy of a photo ID.

    As always, we are committed to continue providing the best international payment solution and I’m very happy we managed to find a solution for our Pakistan card holders.

    Thanks”

    http://community.payoneer.com/Pakistan-Not-in-List-m2057.aspx

  • x says:

    friggin israeli co. im disappointed.

  • Gull Fraz says:

    nice information

    thanks aqeel

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