Payoneer vs Transferwise. Payoneer and transfer are both companies that deal with online payments for businesses and individuals. Some may ask, between transfer wise and Payoneer, who provides a better payment platform, or which is better than the other.
Well in this article, I will be giving you some features of both Payoneer and transfer wise, and at the end of the article, you would get to decide yourself which is better.
Payoneer VS Transferwise
Comparing Payoneer to transfer wise is just simply explaining the features they have and how these two companies are distinct in their services, target audience, and functionality. Below I will be giving you information like who can make use of Payoneer and transferwise, reason why they make use of it, and I will give you some information on comparing fee structures and on-boarding processes Payoneer and transferwise provides.
- The platform is geared for private clients and individuals
- It is open to use for clients who have bank accounts in these countries (UK, Europe, USA or Australia.
- It is an easy solution that aids users to send money abroad for whatsoever the purpose maybe.
- Created and equipped for small businesses and for individuals who receive payments from businesses in other countries. For private clients, transferring money is not possible, they are only allowed to withdraw.
- For clients in different locations in the world, it does not matter if they have a bank account, they can order a Payoneer MasterCard.
- Payoneer serves as an easy solution to any small business or freelancers that hire freelancers
Payoneer VS Transferwise services
With Transferwise: you can sign up from countries in North America, from UK, Australia, Europe, and some locations in Asia. With Payoneer: you can sign up from anywhere you are in the world.
- Transfer wise grants you access to an online money transfer platform that would aid you in transferring money abroad.
- You get to enjoy amazing fees and the interbank exchange rates. It costs average, 0.5% of each transaction carried out, compared to the 3% when the transaction is done with a bank.
- There is no minimum or maximum amount that can be transferred
- Sign up is quick and a lot easier although you would still have to upload some documents.
- Payoneer gives you the opportunity to collect payments from abroad employers directly into your own bank account.
- It enables any business to pay employees and freelancers in different locations of the world. Or you can receive money to your sub-accounts overseas.
- The sign-up process can take days, and your Payoneer MasterCard lasts even longer (up to a month) depending on your location.
- Making payments overseas to anyone is not possible as an individual compared to transferwise.
They both offer amazing services and are good to their clients in different ways. Transfer wise has a slightly better rating than Payoneer when it comes to client’s reviews, but the services they perform are just slightly different.