Payoneer Vs Wise | Pros & Cons, Fees and Exchange Rates.

Payoneer vs Transferswise

Payoneer and Wise transfer is a digital payment solution for cross-border business. We are going to discuss the popular international payment platform. We are cover things likes

1. What is Payoneer?
2. What is Transfers wise?
3. Payoneer vs Wise – Costs and exchange rate
4. Pro and Cons
5. Additional features

What is Payoneer?

Payoneer Global Inc. is an American financial services company that gives online money transfer, and digital payment services. Your Payoneer account is your key that unlocks the opportunities for both personal and business while making international payments and receiving funds. 

Receiving accounts like USD, CAD, GBP, EUR, MXN, AUD, JPY, and CNY. You can pay and pay globally, receiving money in just a few clicks.

Learn How to Create Payoneer Account

What is Transfers wise?

Wise is a financial technology company founded by TaavetHinrikus and Estonian businessmen Kristo Käärmann in January. It is a new way to send and receive with a multi-currency account.  It is an online account where you can save and receive money quickly.

Payoneer vs Wise – Costs and exchange rate

Wise keeps the best exchange rate in the market. It is most useful when receiving money in one currency and withdrawing another currency. Payoneer charges more during the exchange rate.

Both are fee-free Payment methods. If you send money with Transfers wise above 100,000 GBP, it will give you access with lower fees.

If you send money with a Payoneer transfer fee of up to 2%. Using batch payments Payoneer easily sends money to 200 bank accounts in one go. Payoneer will charge you a 2% transfer fee. With the Payoneer, you receive 8 currency payments.

Transfer Wise provides the real-time exchange rate at the time of transfer payment. The transfer amount rate is complex and totally depends on your sending and receiving country currencies.

Payoneer Pros and Cons

Pro

• High-level security
• The easy and simple registration process
• Fast money transfers
• Send and receive payment international

Cons

• High transaction fees
• Customer services are not fast taking a long time to solve the issues
• The payment process is slow

Transfer Wise Pro and Cons

Pro

• Direct bank payment
• Low transaction fees
• Fast money transfer than other
• Easy to use

Cons

• Depositing money is not easy
• It does not allow a lot of cards
• sending invoice directly from Transfer Wise

Conclusion

In the post, you learned what is the difference between Payoneer and wise. In short, Payoneer is the best and most secure compared to wise.

Frequently Asked Questions