Frequently Asked Questions
Payonhold is an online escrow service powered by iRescue Global Prepaid Services Limited, a company registered in Nigeria with the Corporate Affairs Commission since 2012 with RC Number 1044569.
We operate in Partnership with FinaTrust Micro Finance Bank who handles and manages all escrow funds. We also operate accounts with CBN licensed Deposit Banks and Paystack as our secured payment processors to ensure smooth transactions.
Our charges on deposit is ₦200 + 2% of the amount been deposited and this includes Paystack Precessing Fee and our SERVICE CHARGE for using Payonhold to secure your payments.
We charge a FLAT rate of ₦200 per withdrawals which includes Bank Transfer charges and SMS Charges for a particular transaction
Log in to your payonhold account and click on Deposit , choose your prefered deposit method. For card payment we recommend Paystack who are one of the most reliable payment gateways in Nigeria. Click on paystack and fill your details and summit. If it is successful your deposit Instantly Reflects in your account and you will receive a confirmation SMS indicating the amount of cash you have deposited in your Payonhold account.
All financial information is encrypted and stored to PCI DSS Level 1 compliant standards. PCI DSS Level 1 compliance is a set of rules stated by credit card companies and audited by an independent third party.
It is the highest possible rating one can get in the electronic payment processing industry. Additionally, all transmission on our site is via an encrypted 256-bit HTTPS SSL connection.
NO. We only charge you when you are depositing funds in your payonhold account. Once you have funds in your account you can make UNLIMITED payments to any payonhold account at NO COST.
Log in to your payonhold account and click on Withdraw , choose your prefered withdrawal method. If you want your withdrawal to made to your Bank Account, Fill your bank details and summit. The money will be sent to your account automatically usually not more than 12 Hours.
On Successful withdrawal, you will receive a confirmation SMS indicating the amount of cash you have withdrawn from your Payonhold account.
Your security is our top concern and priority. Your card details are extremely safe as we never store your payment data. We work with a PCIDSS-compliant payment processor, Paystack to handle all your card details.
Anyone with a Payonhold account can create a transaction.
The transaction is cancelled automatically
Yes, It depends on your agreement with the receiving party. You will create different payment transactions to this effect and release payment at different stages of that particular transaction.
Online and Social Media based Businesses, Real Estate Firms and Individuals paying for real estates, Event Managers, Artiest Managers, Corporate Organizations for payment of services and Salary in advance to motivate staffs etc
Log in to your account and navigate to that particular transaction and click 'Report'. You will be urged to fill in your complains and a notification is instantly sent to the admin and the receiving party that you are no longer interested in that transaction. A chat is automatically set up between you, the receiver and payonhold and there we close the deal.
Make sure that you agree on the specifications of what is to be delivered.
Both buyers and sellers are advised to have pictures as a proof for a successful delivery especially for goods.
When the delivery of services is concerned, we always advise that sellers or rather providers of professional services to give the buyers or their clients clear information on exactly what they plan to deliver so as to avoid disputes.