I received the following email today:[quote=", post:, topic:"]
If your card is in use in one of the countries listed, we encourage you to use all funds by May 31, while transactions are still possible in these countries.
Please note that beyond May 31 your card will continue to be fully functional in all countries not banned by the US government, and we will be happy to load payments to the card without any change.
We apologize for the inconvenience and hope that the Payoneer card will continue to provide you with valuable service.
I did some research and I guess their claims on AML deficiencies are based on the FATF reports. Check this out:
Ordinance (AMLO) remains in effect and to implement a permanent AML/CFT
framework through legislation. However, FATF remains concerned regarding the
ML/FT risks posed by Pakistan and reaffirms its public statement of 28 February 2008
regarding these risks. In particular, the FATF expresses concern that Pakistan’s Anti-
Money Laundering Ordinance (AMLO) will expire on 26 March 2010. The FATF
strongly urges Pakistan to implement a permanent AML/CFT framework before the
expiration of the AMLO and strongly encourages Pakistan to establish a
comprehensive AML/CFT framework.
I am not sure if it's only limited to some or all kind of transactions. I have contacted Payoneer asking whether or not it applies or all (including ATM withdrawals) or only few type of transactions. Awaiting their reply.
IMHO, pretty disappointing stuff.
P.S. I seriously doubt any or all type of Paypal BS that ProPakistani was talking about out of thin air after reading this.