When it comes to Skrill Vs Payoneer, which way does the pendulum swing? This battle has been going on for years now both online and offline. Well in this article today, I will be putting an end to this debate. In this article, you will all be learning between these two platforms which is the best or better platform to make use of.
Skrill Vs Payoneer
Payoneer, as we all know, is a platform that provides financial services to people. Some of its services include online money transfer, digital payments services and provide customers with working capital amongst others. The Skrill platform provides the same services as the Payoneer platform.
But making use of the Payoneer platform and the Skrill platform does not work equally well for everyone. There re are various aspects of your transactions with these two platforms that require more attention when selecting the best.
When you want to carry out any of the services listed above, it is good to use the right and better platform. Of course, the Payoneer platform is more popular than the Skrill platform but is the Payoneer platform better than Skrill.
There have been various comparisons between these two platforms over the years with the results not being much different. In a bit, I will be comparing these two directly in various factors and at the end of the day, we will be deciding which is the better platform.
The exchange rate of using pioneer comes with a 2% to 2.75% markup on the existing mid-market rate. While Skrill, on the other hand, applies the existing mid-market rates on all transfers without the addition of any markup. You also get to know the guaranteed rate of exchange before finalizing your transfer. The other, on the other hand, will let you view prevailing rates by using the Skrill online currency calculator.
When sending money to other Payoneer account holders, it is free. Also when you receive money from other Payoneer account holders in USD, GBP or EUR you pay no fees. With Skrill, you pay no fees when transferring to bank accounts overseas. When withdrawing money from your Payoneer account to your local bank account, you are required to pay.
This fee varies and it is totally dependent on the country of your residence. Withdrawing funds from your Skrill account also attracts fees. Skrill charges users a $3 fee each month if there is inactivity in your account for 12 months.
Payoneer is available in over 200 countries and the company also trades in over 150 currencies. Skrill, on the other hand, provides services in almost all countries except the likes of South Sudan, Iraq, Iran, Afghanistan, Cuba, North Korea, North Sudan, Eritrea, Libya, Syria, and Kyrgyzstan. Transactions that are gambling-related are restricted in Turkey, the US, Israel, Malaysia, China, and Israel.
Ease of Use
Making use of both platforms is relatively easy. Both platforms are self-explanatory. You don’t really need any guidance of any sort in order to get to know your way around. Registrations on the platforms take little time. There are mobile apps for both platforms available for both android and iOS.
Both platforms are security tight platforms. When making transactions on either of these sites be sure to know that your information is safe. Payoneer as the required license to provide services in 48 American states.
Payoneer is registered with the financial crimes enforcement network. It also has a license issued by regulatory bodies in Japan, Hong Kong, Australia, Gibraltar, and Canada. Skrill, on the other hand, is registered with the financial conduct authority in the UK.
Regular Overseas Payments
In this aspect, both parties falter. They are both to offer this service. If you wish to do this you will need to turn to other services.
Skrill users get special offers related to forex, gambling, shopping, and cryptocurrency. iCompareFX readers, on the other hand, get USD $50 via Payoneer coupon when their account balances on Payoneer reaches USD $100.
These are the comparisons between these two. And it is clear that Payoneer is better. This doesn’t mean that Skrill, on the other hand, is bad, Payoneer is just better.