Message from our CEO: Payoneer customer funds are 100% guaranteed by us – available, accessible, and not at risk from the closure of Silicon Valley Bank

To our valued customers and partners,

On Friday March 10, US state regulators closed Silicon Valley Bank (SVB) and appointed the Federal Deposit Insurance Corporation as receiver to protect customer funds.

I want to communicate that funds held by you in your Payoneer account are available and accessible to you in the normal way. Customer funds held with Payoneer are not at risk from the closure of Silicon Valley Bank.

Payoneer is a public company listed on the NASDAQ and headquartered in New York, and has built a large, diverse and resilient network of banks and other partners that allows us to service our partners globally and at scale.  Our operations are not impacted by the closure of SVB and payments are being processed in the normal way. Payoneer keeps the vast majority of funds, including customer funds, at Global Systemically Important Banks (GSIBs). Payoneer has ample liquidity and capital on hand.  Customer funds held with us remain available and accessible to you and are not at risk from the closure of SVB.

As your partner, we understand how important it is that your funds are secure, available and accessible to you at all times.  It is a responsibility we don’t take lightly. For 17 years we have been a trusted partner to entrepreneurs and businesses around the globe, and we will continue to be.

All of us at Payoneer are here to support you and to help you grow your business. If you have questions, or if you or your business partners are impacted by this situation, please reach out to our teams. If you are looking to add a new bank account to your Payoneer account, please see our FAQs on how this can easily be done. We welcome entrepreneurs, businesses and startups to use our trusted platform.

Yours,

John Caplan
CEO of Payoneer

Forward-Looking Statements
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