Payoneer is a money transfer service that allows you to accept money online. Just like paypal, It supports various marketplaces such as Freelancer, Upwrok, fiverr, Amazon and many others. This service is popular among freelancers, consultants, bloggers and affiliate marketers.
In this short guide, let's take a look at some reasons why one should use Payoneer over Paypal.
Not sure if Payoneer is right for your business or activity? Check Payoneer.
Low Currency Conversion Fees
If you're living outside United States then you know how Paypal takes a lot of fee cut through currency conversion service. In case of payoneer you save more than 71% of fees over currency conversion. You just can't beat this service If you compare the currency conversion rates with Paypal. You'd be surprised that you get more money into your bank compared to Paypal's bank transfer feature.
Global Payment Service
Paypal doesn't allow you virtual bank account. However with payoneer, you can accept the money for various currencies. So your client can pay in EUR, GBP or CHF. This service is very useful for getting paid from Amazon, Freelancer and many other international marketplaces which pay in different local currencies. This can be really good service for those who wish to accept the bank transfer without having to open the account in specific country.
Low Money Transfer Fees
When you send the money to paypal account, there is a specific fee applies to the person who gets the fund. And that sort of fee is more these days no matter how small is the amount. In case of Payoneer, they charge very low amount. Also with minimum 20$ withdrawal option, you can find that as amount increases the fees are much lower on Payoneer compared to paypal. This is definitely one good advantage of Payoneer over paypal.
Faster Bank Transfer
You may find that Paypal takes around 2-4 days to transfer the money to the banks. In some cases it may take around 2 days. So the bank transfer feature in case of Payoneer works works quicker in comparison to paypal. I have go my funds into the bank in 2 business days. This is definitely one good benefit of the service.
Invoice
You loved the invoice feature of the Paypal? You can use the same feature on Payoneer too. You will have low cost fees for accepting payment through this feature compared to Paypal.
As you can see for those who are working remotely Payoneer is definitely a good service worth signing up for.
Try using this service with marketplace like Fiveer and others and see how much it saves your money.
Convinced enough? Sign up for Payoneer.
