Competitors
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Payoneer
payoneer.comSummary
Payoneer is a global payment platform that simplifies cross-border transactions for businesses, freelancers, and marketplaces. It offers multi-currency accounts, international payment processing, invoicing, and solutions for managing global workforces, including contractor payments and compliance.
Feature Matches12/15
See all12/15
Must Have
4 of 5
Transparent Low Fees
Multi-Currency Account
Borderless Debit Card
Fast Transfer Execution
Mid-Market Exchange Rate Transfers
Other
8 of 10
Batch Payments
API Integration
Business Account Features
Invoice Creation
Mobile App
Regulatory Compliance
Multi-User Access
Customer Support
Real-Time Rate Alerts
Spending Analytics
PricingUsage-based
See allUsage-based
Directly by your clients
Custom
- Send your clients payment requests which they can pay via credit card, ACH bank debit, and direct bank payments.
- They can also pay you via receiving accounts.
- Credit card (all currencies): Up to 3.99% (In certain countries, an additional fix fee of 0.49$ will be added to the above rate)
- ACH bank debits (US only): 1%
- PayPal (US only): 3.99% + $0.49
Directly by marketplaces and networks
Custom
- Get paid directly into your Payoneer account by Wish, Fiverr, Upwork, Airbnb, and more than 2,000 more of the world’s top marketplaces, platforms, and networks that have partnered with us.
- Fees set by each marketplace, platform, and network vary. Please check with them to get exact rates.
Via your receiving accounts
Custom
- Use your Payoneer receiving accounts like a local bank account in the country and currency you get paid – USD, EUR, GBP, and more.
- We can also support SWIFT (wire) payments to keep things consolidated.
- For all other currencies (e.g., receiving USD in Europe) - Fixed fee OR 1% fee (depending on the amount received)
- Some countries may be exempt from the fee
- Minimum fee may apply
Paying suppliers, employees, and contractors directly from your Payoneer balance
Custom
- Your earnings from clients and marketplaces will land in your Payoneer balance. From there you can pay people and organizations directly.
- If recipient has a Payoneer account: For payments made to recipients from a different country than you, up to 1% of the transaction amount with a minimum fee of up to 4.00 USD. For payments made in USD, EUR, or GBP to recipients from the same country as you, a flat fee of up to 4.00 USD/EUR/GBP* respectively, will be applied per transaction
- If recipient doesn’t have a Payoneer account: Up to 3% of transaction amount. Minimum fee may apply
For customers located in the USA, United Kingdom or European Union
Custom
- For payments to a recipient’s bank account, in local currency, when the total amount of withdrawals and payments made in a single calendar month is up to 50,000 USD, GBP or EUR.
- For payments to a recipient’s bank account in local currency when the total amount of withdrawals and payments made in a single calendar month is over 50,000* USD, GBP, or EUR
- If the bank account: Is in the same currency as your balance and Is in a country where the withdrawing currency is the local currency and Is in the same country that you have listed in your Payoneer account
- 1.50 USD USD to USD payments
- 1.50 EUR EUR to EUR payments
- 1.50 GBP GBP to GBP payments
- 0.5% of total withdrawal amount USD to USD withdrawal
- 0.5% of total withdrawal amount EUR to EUR withdrawal
- 0.5% of total withdrawal amount GBP to GBP withdrawal
Pay a Payoneer customer for their business services
Custom
- Millions of suppliers, freelancers, and other contractors get paid with Payoneer. You can pay any of them via credit card, local bank transfer, ACH bank debit, or direct bank payment at competitively low rates.
- Credit card: Up to 3.99% (In certain countries, an additional fix fee of 0.49$ will be added to the above rate)
- Local bank transfer: 1%
- ACH bank debit (US only): 1%
- PayPal (US only): 3.99% + $0.49
- Direct bank payment (UK only): 1%
The Payoneer card
Custom
- The Payoneer card makes it easy to use your Payoneer funds globally. You can make business purchases, pay for advertising, buy goods and business services online or in stores, and withdraw funds at ATMs.
- Card delivery (standard delivery): FREE
- Card delivery with express shipping (via DHL): 40.00 USD
- Annual card fees, first card: 29.95 USD
- Additional cards in any currency: FREE
- Transactions in the same currency as your card, in supported countries: FREE
- Transactions involving currency conversion: UP TO 3.5%
- Transactions where merchant country is different from card-issuing country (cross-border fee): UP TO 1.8%
- Cash withdrawals (ATM, teller, merchant) in the same currency as your card: 3.15 USD / 2.50 EUR / 1.95 GBP + UP TO 1.8%
- Cash withdrawals (ATM, teller, merchant) involving currency conversion: 3.15 USD / 2.50 EUR / 1.95 GBP + UP TO 3.5%
- Balance inquiry: 1.00 USD / 0.87 EUR / 0.65 GBP
- Card replacement: 12.95 USD / 9.95 EUR / 9.95 GBP
Manage currencies with ease
Custom
- You’ll always have the currency you need for your international payments with the ability to move funds between your Payoneer balances.
- 0.5% of amount to transfer
Withdraw to your bank account
Custom
- Once you get paid, you can withdraw those funds to your local bank account.
- Withdraw in local currency from a Payoneer balance of a different currency: You can withdraw funds to bank accounts in most currencies and enjoy competitive rates from Payoneer.
- Withdrawals in non-local currency: Applies to users from China, Taiwan, Korea, and Hong Kong. Even lower fee available for high-earning customers. You can withdraw funds to bank accounts in most currencies and enjoy competitive rates from Payoneer. Up to 3% of transaction amount
- Withdrawals in local currency from a Payoneer balance of the same currency: When withdrawing HKD, USD, EUR, or GBP to a local bank account, there is a fixed fee on the transaction for your convenience, if the bank account: is in the same currency as your balance is in a country where the withdrawal currency is the local currency is in the same country that you have listed in your Payoneer profile
- HK$ 12.00 HKD to HKD withdrawal
- 1.50 USD USD to USD withdrawal
- 1.50 EUR EUR to EUR withdrawal
- 1.50 GBP GBP to GBP withdrawal
- For customers located in the USA, United Kingdom, or European Union (Eurozone): For withdrawals in local currency, when the total amount of withdrawals and payments made in a single calendar month is up to 50,000 USD, GBP, or EUR. If the bank account: Is in the same currency as your balance and Is in a country where the withdrawing currency is the local currency and Is in the same country that you have listed in your Payoneer profile
- For withdrawals in local currency when the total amount of withdrawals and payments made in a single calendar month is over 50,000 USD, GBP, or EUR. If the bank account: Is in the same currency as your balance and Is in a country where the withdrawing currency is the local currency and Is in the same country that you have listed in your Payoneer profile
- 0.5% of total withdrawal amount USD to USD withdrawal
- 0.5% of total withdrawal amount EUR to EUR withdrawal
- 0.5% of total withdrawal amount GBP to GBP withdrawal
- Withdraw in non-local currency: You can withdraw funds to bank accounts in most currencies and enjoy competitive rates from Payoneer. UP TO 3% of transaction amount. For withdrawals with no currency conversion, minimum fee may apply.
Other fees
$29.95 monthly
- Annual account fee: This fee applies only to accounts that receive less than $2,000 USD (or equivalent) over a 12-month period. Customers who pay for an Annual Plan are not subject to this fee.
- Escheatment fee: Variable per state
- Annual Plan: Certain account types in specific regions require an Annual Plan. If applicable, details will be provided during the registration process. If an Annual Plan is charged, the Annual Account Fee will not apply for that year. In certain countries, a registration fee may apply
Rationale
Payoneer is a strong match for Wise's concept. It offers multi-currency accounts, transparent fees (though not always the mid-market rate, which is a key differentiator for Wise), and various international payment solutions for freelancers and businesses. It explicitly mentions features like multi-currency accounts, a business debit card, fast transfers, batch payments, API integration, and business account features like managing currencies and paying suppliers. While it emphasizes low fees, it doesn't explicitly state 'mid-market exchange rate transfers' as a core value proposition in the same way Wise does, which is why the confidence is not 1.0. However, it clearly provides a comprehensive platform for cross-border payments and multi-currency management.
Found via SearchPaid
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