Payoneer vs. Wise: Which Payment Option is Best for Freelancers? (2024)

FAQs

Payoneer vs. Wise: Which Payment Option is Best for Freelancers? ›

The main difference between Wise and Payoneer is that Payoneer money transfers has a network of over 200 countries while Wise offers the lowest transfer fees, varied payment options and matches the mid-market rate.

The main difference between Wise and Payoneer is that Payoneer money transfers has a network of over 200 countries while Wise offers the lowest transfer fees, varied payment options and matches the mid-market rate.

A Payoneer account is the quick, secure, and reliable way to get paid by clients and freelance marketplaces. Make payments from your Payoneer account or withdraw earnings locally with just a few clicks.

Withdraw money from online freelancer platforms like Freelancer.com into your Wise account. Hold over over 40 different currencies in your one account, or move money right to your bank. Convert between currencies instantly – just pay a small fee each time you you do.

The best overall Payoneer alternative is PayPal. Other similar apps like Payoneer are Tipalti, GoCardless, BILL AP/AR, and Stripe Connect. Payoneer alternatives can be found in Payment Gateways but may also be in Payment Processing Software or Accounts Payable Automation Software.

To send money from Payoneer to Wise, you can follow these steps: Log in to your Payoneer account. Click on the “Send Money” tab. Select “Wise” as the recipient.

At Payoneer, every transaction is heavily guarded behind firewalls and sophisticated anti-hacking techniques. Each and every transaction is monitored to prevent fraud, identity theft, phishing encounters, and other attacks.

Can I use Wise for Upwork? ›

You can receive money from Upwork in a number of currencies, but it's best to get paid in USD and convert the money with Wise. Regardless of what country you live in, you can opt to receive payments in USD to your Wise account.

Receive money by sharing your bank account details

Receiving money to these details works just like a regular transfer. Just share your Wise account details with the person or business who wants to pay you.

Limited functionality; can't accept in-person payments. Customers report account freezes and terminations, resulting in the loss of funds. Must pay a withdrawal fee to move funds from your Payoneer account to your bank account.

Wise offers transparent fees and real mid-market exchange rates. Payoneer has a more complex fee structure with variable fees and potential exchange rate margins. You might have to pay a standard fee for maintaining the accounts, based on the type of services you are using.

If you use a credit or debit card to send money to Payoneer, then Payoneer transfer fees will be 3% or 1% of the transaction amount, respectively. Payoneer also has an option for recurring and batch payments. In such a case, you will be charged 2% of the transaction and can send money to up to 200 bank accounts.

Top Wise alternatives include Revolut (multi-currency features), OFX (transparency & competitive rates), Xoom (user-friendly & fast transfers), and Payoneer (ideal for freelancers & businesses). Each caters to specific needs like speed, cost, or account features.

Security tools: Payoneer is PCI compliant, offers fraud detection to all customers and is AML/CTF compliant to work against issues for international payments. Mobile app: Payoneer offers a mobile app for iOS and Android where users can see their account balance, view transactions, make payments and withdraw funds.

You can receive your freelance website payments through Payoneer. Payoneer is really a great online payment platform. You can easily withdraw your earnings to your bank account or even you can use Payoneer card to withdraw money from ATM. You can also get bank account numbers of different countries and currencies.

Overall, despite some challenges reported by users, Payoneer serves as a reliable and versatile payment gateway for various user needs. Global Acceptance: Many users have praised Payoneer for its wide acceptance worldwide, allowing them to easily send and receive payments internationally.