The title says it all.

I have been using Paystack for a while now and it has never been a good experience but i wonder "is it just me? or is everyone just keeping quiet?".

One wicked issue about this company is their lack of communication! Imagine a company holding your money without communicating with you! This company, would hold/freeze a transaction without any email or phone call notification to the merchant. A customer would make a payment, and these guys would accept the payment, without any complaints to the customer or the merchant, then freeze the money! The merchant would not get settled until the merchant contacts the company. In my opinion, you do not have to contact who is holding your money before you are informed of the status of your money.

This is exactly what happened to our business on paystack. They sent no email whatsoever and instead held unto funds until we contacted them after which they came up with different stories. We were asked to sign an agreement(An agreement that was not given to us at signup), we did! Then we were finally settled. I informed them of their lack of communication and they apologized.

Now, it has happened again! Their transfer feature allows a business send money from its available balance. We topup the balance ourselves with a local payment method and request transfer(in most cases) to our business account. Today, we did same thing but just like a wolf in sheep clothing, this company, said nothing! Not even an email about any hold on our account. We top up the balance and they accepted the payment and credited the balance. Now we requested a withdrawal, we are informed that we cannot initiate a transfer(after accepting the payment). Still no email about whatever is going on.. We log out and log back in after a while, then attempt the transfer again, it says "Transfers have been put on hold. If you have any questions, email XXXXX@xxxxx."

@emboldened, who is supposed to email? They did not send any email about the hold! They never notified us of a hold! Are we the one to chase them for answers? on our money Till now, no email whatsoever. So if we do not login for 1 year, our money will be held for 1 year without an explanation? Is this for real?

You might think this as nothing, but imagine this scenario, your business runs automated transactions via the API and you rarely login to the dashboard. A transfer is to be processed or payment is received and then, as a result of no communication, your money is held and not settled and you have no idea about that. You may have no idea for 6 months, 1 year, 2 years if you do not login to the dashboard! Do you now see why this is a problem? Even the so called dashboard says nothing. Everything seems fine! But underneath, your money is on hold!.

BEWARE OF PAYSTACK! YOUR MONEY CAN DISAPPEAR WITHOUT NOTICE! YOUR MONEY CAN BE FROZEN WITHOUT NOTICE! THEY CAN EVEN DELETE YOUR ACCOUNT WITHOUT ANY NOTICE AND MAKE IT SEEM LIKE YOU WERE NEVER A CLIENT!

Hmmmmm.....just getting to know this sha. Maybe some others with such or counter experience should clarify this too.

Believe me, everything about them looks fine.. They are the worst in terms of services rendered. They would not even send you any mail about what is happening. My previous business with them, they would hold settlement for weeks without any email like nothing happened. These guys are dangerous.

Circuit3:
The title says it all.

I have been using Paystack for a while now and it has never been a good experience but i wonder "is it just me? or is everyone just keeping quiet?".

One wicked issue about this company is their lack of communication! Imagine a company holding your money without communicating with you! This company, would hold/freeze a transaction without any email or phone call notification to the merchant. A customer would make a payment, and these guys would accept the payment, without any complaints to the customer or the merchant, then freeze the money! The merchant would not get settled until the merchant contacts the company. In my opinion, you do not have to contact who is holding your money before you are informed of the status of your money.

This is exactly what happened to our business on paystack. They sent no email whatsoever and instead held unto funds until we contacted them after which they came up with different stories. We were asked to sign an agreement(An agreement that was not given to us at signup), we did! Then we were finally settled. I informed them of their lack of communication and they apologized.

Now, it has happened again! Their transfer feature allows a business send money from its available balance. We topup the balance ourselves with a local payment method and request transfer(in most cases) to our business account. Today, we did same thing but just like a wolf in sheep clothing, this company, said nothing! Not even an email about any hold on our account. We top up the balance and they accepted the payment and credited the balance. Now we requested a withdrawal, we are informed that we cannot initiate a transfer(after accepting the payment). Still no email about whatever is going on.. We log out and log back in after a while, then attempt the transfer again, it says "Transfers have been put on hold. If you have any questions, email XXXXX@xxxxx."

@emboldened, who is supposed to email? They did not send any email about the hold! They never notified us of a hold! Are we the one to chase them for answers? on our money Till now, no email whatsoever. So if we do not login for 1 year, our money will be held for 1 year without an explanation? Is this for real?

You might think this as nothing, but imagine this scenario, your business runs automated transactions via the API and you rarely login to the dashboard. A transfer is to be processed or payment is received and then, as a result of no communication, your money is held and not settled and you have no idea about that. You may have no idea for 6 months, 1 year, 2 years if you do not login to the dashboard! Do you now see why this is a problem? Even the so called dashboard says nothing. Everything seems fine! But underneath, your money is on hold!.

BEWARE OF PAYSTACK! YOUR MONEY CAN DISAPPEAR WITHOUT NOTICE! YOUR MONEY CAN BE FROZEN WITHOUT NOTICE! THEY CAN EVEN DELETE YOUR ACCOUNT WITHOUT ANY NOTICE AND MAKE IT SEEM LIKE YOU WERE NEVER A CLIENT!

I have been a victim of the deleted account before. Like my account totally vanished into thin air. There support wasn't of much help, I had to open another account with the same email address. Thank God I had to fund in it.

BuyLondonUsed:


I have been a victim of the deleted account before. Like my account totally vanished into thin air. There support wasn't of much help, I had to open another account with the same email address. Thank God I had to fund in it.

Lets spread the word.

Businesses should be careful.

Thanks. Was about using them.

Circuit3:
The title says it all.

I have been using Paystack for a while now and it has never been a good experience but i wonder "is it just me? or is everyone just keeping quiet?".

One wicked issue about this company is their lack of communication! Imagine a company holding your money without communicating with you! This company, would hold/freeze a transaction without any email or phone call notification to the merchant. A customer would make a payment, and these guys would accept the payment, without any complaints to the customer or the merchant, then freeze the money! The merchant would not get settled until the merchant contacts the company. In my opinion, you do not have to contact who is holding your money before you are informed of the status of your money.

This is exactly what happened to our business on paystack. They sent no email whatsoever and instead held unto funds until we contacted them after which they came up with different stories. We were asked to sign an agreement(An agreement that was not given to us at signup), we did! Then we were finally settled. I informed them of their lack of communication and they apologized.

Now, it has happened again! Their transfer feature allows a business send money from its available balance. We topup the balance ourselves with a local payment method and request transfer(in most cases) to our business account. Today, we did same thing but just like a wolf in sheep clothing, this company, said nothing! Not even an email about any hold on our account. We top up the balance and they accepted the payment and credited the balance. Now we requested a withdrawal, we are informed that we cannot initiate a transfer(after accepting the payment). Still no email about whatever is going on.. We log out and log back in after a while, then attempt the transfer again, it says "Transfers have been put on hold. If you have any questions, email XXXXX@xxxxx."

@emboldened, who is supposed to email? They did not send any email about the hold! They never notified us of a hold! Are we the one to chase them for answers? on our money Till now, no email whatsoever. So if we do not login for 1 year, our money will be held for 1 year without an explanation? Is this for real?

You might think this as nothing, but imagine this scenario, your business runs automated transactions via the API and you rarely login to the dashboard. A transfer is to be processed or payment is received and then, as a result of no communication, your money is held and not settled and you have no idea about that. You may have no idea for 6 months, 1 year, 2 years if you do not login to the dashboard! Do you now see why this is a problem? Even the so called dashboard says nothing. Everything seems fine! But underneath, your money is on hold!.

BEWARE OF PAYSTACK! YOUR MONEY CAN DISAPPEAR WITHOUT NOTICE! YOUR MONEY CAN BE FROZEN WITHOUT NOTICE! THEY CAN EVEN DELETE YOUR ACCOUNT WITHOUT ANY NOTICE AND MAKE IT SEEM LIKE YOU WERE NEVER A CLIENT!

From what I can deduce from your comment above, you used their top up feature to add funds to your Paystack wallet.
From my own understanding of how Paystack works and similar experience I had the first time I used that feature to top up bulk funds to my account, it's a security measure to prevent abuse.

As they were primarily built to help merchants accept payments for goods and services from their customers via their cards, bank, etc. as the case maybe.
Mailing them back and updating them on the reason for the top up will get the hold removed.

If you're keen on not having them put your account on hold all the time, then it's best you increase your sales so that the incoming payments from your customers can match whatever amount you want to pay out to your customers or business account(Outgoing Payments) instead of using the Top up Feature.

Their Topup feature is free of the 1.5% charges which I still wonder how they kept it free since the funding is done via Card, etc. So don't expect them to just sit and watch everyone abuse the privilege as they are also in the business to make money.

NB. I'm neither a Paystack Staff or solicitor. Just airing out my own view as a customer and Business Ownner

Lordtrillion:


From what I can deduce from your comment above, you used their top up feature to add funds to your Paystack wallet.
From my own understanding of how Paystack works and similar experience I had the first time I used that feature to top up bulk funds to my account, it's a security measure to prevent abuse.

As they were primarily built to help merchants accept payments for goods and services from their customers via their cards, bank, etc. as the case maybe.
Mailing them back and updating them on the reason for the top up will get the hold removed.

If you're keen on not having them put your account on hold all the time, then it's best you increase your sales so that the incoming payments from your customers can match whatever amount you want to pay out to your customers or business account(Outgoing Payments) instead of using the Top up Feature.

Their Topup feature is free of the 1.5% charges which I still wonder how they kept it free since the funding is done via Card, etc. So don't expect them to just sit and watch everyone abuse the privilege as they are also in the business to make money.

NB. I'm neither a Paystack Staff or solicitor. Just airing out my own view as a customer and Business Ownner

Yes you are correct. But like i mentioned, the issue is about the lack of communication on their part. But the issue has been resolved already and they promised to rectify the communication issue.

My transfers were put on hold twice. Too bad

Paystack is a shit company soon as things get stable they will be out of business they are worst than anything you can think of.. they are bullies and are worst than Nigeria government and Nigeria problem as a whole... Stay Away From Paystack if Possible

It is quite unfortunate for all this reviews, they must improve to remain in the business, but do they receive international payments?