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Services Offered by Payoneer
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Payoneer Review: Executive Summary
Best Payoneer Account Alternatives
While Payoneer was a completely unique solution in the market for many years, others have started following its footsteps. Companies that focused on international payments for businesses and private clients have realised that they can set up virtual multi-currency accounts for their customers, and some of them offer significantly better exchange rates and service than Payoneer. View our favourite Payoneer alternatives and competitors below.
- Multi-currency Bank Accounts in USA, Canada, UK, EU, New Zealand, Hong Kong, Singapore and Australia
- Traded Publicly in the Australian Stock Exchange. A prominent and well-know company with excellent reputation in Australia operating for 20+ years. Boasting more than £20bn in annual turnover, across all five continents.
- Diverse offering combining the good parts of all other compabies - transfer money abroad, receive funds, multi-currency accounts, corporate foreign exchange, ecommerce intergration, online system and a friendly app.
- Bank accounts available in UK, France, Germany, USA, and Canada, as well as Singapore, China and Japan (recent additions)
- FX Margins from 0.15% to 0.5% per transaction, potentially cheaper than competitors like TransferWise (Wise). No fixed payment fees or receiving fees.
- Industry Leader in the eCommerce Space, Owned by Ant Financial (AliPay). Easy integration with any eCommerce platform, and Amazon recommended solution for currency exchanges.
- Global Offices in 5 Continents and 20 years of experience in FX
- 95% positive reviews from past customers.
- Bank accounts available in UK, EU, Poland, Australia, New Zealand and USA but you can hold money in 50+ currencies
- Most recognisable name in money transfers and multi-currency account, serving millions of customers and traded on the London Stock Exchange
- Very transparent about its fees which are generally among the cheapest for both private clients
- Very easy to use online, fast (especially with transfers with other Wise accounts)
- Easy to set up to receive payments from PayPal, Amazon, eBay, ETSY etc.
- Operating since 1979 - the first commercial foreign exchange space. Specialising in businesses - corporations and small businesses. Each business customer with volume of £5,000 is assigned with a dedicated currency dealder, demonstrating very high level of professionalism and excellent availability.
- Virtual IBAN bank accounts available in UK, EU and USA - but you can use Moneycorp to receive foreign exchange payments from everywhere in the world.
- 98% satisfaction based on online customer review. Many customer and business awards.
- Excellent FX hedging offering for businesses that need to control their foreign exchange flows. From Forward contracts to FX options - all are available for customers of any size, together with dedicated guidance on how to use these fx hedging tools optimally.
- Credibility - 98%98%
- Functionality - 95%95%
- Fees - 85%85%
- Response Time - 75%75%
Payoneer offers a unique one of a kind solution for small businesses and freelancers who require an easy, low-fee, method of being paid from abroad. You can get paid through their system to your virtual bank account (also known as a multi-currency account), or even withdraw it in cash through Payoneer’s issued MasterCard. The system is smooth and easy to understand and you do not need to be a banking expert to receive the funds and withdraw them with average fees of 1% in exchange rate fees for VIP customers. You can sign up with Payoneer from anywhere in the world as the company is regulated in many different regions, and hence Payoneer boasts an impressive customer base of 5,000,000 users, more than any competitor.
On the flip side, there are hundreds of customer complaints in our comment section and other Payoneer review pages across the web detailing a very slow verification process that very often results in Payoneer withholding payments for months before clients are able to withdraw them, and also that Payoneer’s customer service is non-existent being extremely slow and unhelpful.