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PayPal vs Payoneer

PayPal describes itself as being a “simpler, smarter way to send and receive money online”. The corporate was first based by a bunch of well-known entrepreneurs, together with Elon Musk, in 1998 in California, and noticed astronomical progress in 2002 when it was acquired by eBay as their major manner of processing funds.

PayPal later grew to become impartial once more in 2015, offering a handy manner for family and friends to ship cash to 1 one other with simply an electronic mail tackle, whereas additionally offering a well-liked fee methodology for on-line items and companies.

Payoneer was first based in 2005 and is a New York-based firm offering on-line switch companies and cross-border B2B fee companies. Now, Payoneer serves over 4 million clients worldwide, supporting transfers to over 200 nations.

Payoneer is maybe barely completely different from many different on-line switch companies in that it largely targets companies, on-line retailers, and freelancers.

Fast abstract: Payoneer cannot be crushed if you’re a freelancer or sending cash for enterprise

General, it’s tough to make a direct name between the 2 corporations due to how specialist Payoneer’s companies are. Payoneer is great for companies, on-line retailers, and freelancers, however PayPal stands out as the more sensible choice for sending cash to family and friends. Learn under to see how we in contrast Paypal vs Payoneer.

Discover out extra about Payoneer

Which model has decrease charges?


PayPal refers to its charges as a “cross-border personal transaction fee”, and these will change relying on the place you might be transferring to and the quantity you might be sending. For the US, Canada, and Europe, PayPal will cost £0.99 for transactions below £49.99, £1.99 for transactions between £50 or over. For the remainder of the world, the charges are £0.99 for something £49.99 and below, £1.99 for transactions between £50 – £99.99, and £3.99 for transactions £100 or extra.


Payoneer’s charges depend upon the kind of transaction you might be processing. For instance, utilizing Payoneer’s Billing Service to request funds or paying suppliers will incur a price between 1 – 3%, whereas receiving cash from on-line marketplaces similar to Upwork, Fiverr and so forth will even incur charges set by every particular person market. Withdrawing cash to your account in the identical foreign money (USD, EUR or GBP solely), will incur a price of 1.50 in no matter foreign money you might be working with. 

✅ Verdict: There are too many variables to make a judgement name

Each suppliers have too many variables connected to their charges to attract a direct comparability of Paypal vs Payoneer, as the quantity you might be charged can change relying on how a lot you might be sending, the transaction sort, and the foreign money you might be changing to.

Which model presents higher trade charges?


PayPal prices an trade charge margin between 3.5 – 4% on most foreign money conversions, though the precise share added isn’t clearly proven if you end up initiating a switch. For instance, sending from GDP to AUD would offer you a markup of 4% on the mid-market charge.


Payoneer will sometimes cost a margin of two% on high of the mid-market charge, though this will go as much as 3.5% if you’re paying on your switch by bank card.

✅ Verdict: Payoneer’s trade charges are higher

Usually, you will discover that Payoneer’s trade charge is best than what is obtainable by PayPal. Nevertheless, Payoneer does have it’s personal restrictions when it comes to its audience, so that is one thing value allowing for when evaluating Payoneer vs Paypal.

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Which model covers extra places?


PayPal is offered in additional than 200 nations, however they solely help transfers between 25 currencies in the mean time.


At the moment, Payoneer helps 200+ nations and territories together with areas as distant because the Mayotte archipelago, a area below France, but it surely solely helps 7 currencies, and an extra 4 for tax fee functions.

✅ Verdict: PayPal helps extra currencies

Whereas each operators help a variety of nations, if we evaluate Paypal vs Payoneer, PayPal helps extra currencies to switch between.

Which is quicker?


PayPal’s switch time can take wherever from minutes to as much as 5 working days. In case your recipient already has a PayPal account and you have already got the funds in your individual PayPal account, your switch can be processed a lot faster. Alternatively, withdrawing out of your checking account earlier than changing into one other foreign money will take nearer to three – 5 working days.


Transfers from Payoneer to a checking account will sometimes take between 2 – 3 enterprise days, though Payoneer does say this will take as much as 5 working days. In some instances, your switch might be processed inside 24 hours, similar to transfers from on-line marketplaces, however variables similar to worldwide or native holidays can have an effect on these timings.

✅ Verdict: It’s a tie

Relying on the circumstances of your switch, each corporations are able to both sending your switch in minutes, or processing your switch inside a number of working days.

Which model presents extra switch & fee choices?


PayPal’s fee choices embrace paying by financial institution switch, bank card, debit card, or transferring through your PayPal account. You may choose on your recipient to obtain the funds both by financial institution switch or by PayPal account switch – transferring to and from PayPal accounts can be a lot sooner.


Payoneer’s fee choices embrace paying by bank card, eCheck, or financial institution switch. Nevertheless, Payoneer differs barely from a standard cash switch service. You should use Payoneer’s platform to withdraw cash out of your Payoneer account to your checking account or to pay funds on to a provider’s checking account. You can even load cash onto your Payoneer pay as you go Mastercard to then withdraw at native ATMs, bodily shops, or when purchasing on-line. 

✅ Verdict: It will depend on why you might be transferring cash

If you’re sending cash internationally to a freelancer or as a enterprise, Payoneer might present extra switch and fee choices appropriate to you. Nevertheless, if you’re sending cash purely to family and friends, PayPal might go well with you higher.

What do customers must say about every model?


PayPal has over 13,000 critiques on Trustpilot with an general ‘Bad’ score of 1.3 out of 5. It’s value allowing for, nevertheless, that these critiques will not be simply aimed in the direction of PayPal’s companies as a global switch supplier, however directed in the direction of PayPal’s service as a complete.

Amongst the adverse critiques, customers ceaselessly discuss with unfair prices, funds being paused or misplaced, and poor customer support. 


Payoneer has 13,959 critiques on Trustpilot with an general ‘Excellent’ score of 4.5 out of 5. The optimistic feedback centred on Payoneer’s responsive 24/7 customer support, easy-to-navigate platform,  and sooner transfers.

The 6% of consumers who rated the corporate’s service as ‘Poor’ or ‘Bad’ had been vital of their account being blocked with out discover, and card shipments being made to a bodily tackle and never postal addresses.

✅ Verdict: Payoneer has higher critiques

Payoneer stands out as a trusted, respected switch supplier once we evaluate Payoneer vs Paypal consumer critiques, with general wonderful critiques from repeat clients. Nevertheless, it’s essential to understand that PayPal presents numerous companies past purely worldwide cash transfers, and the critiques don’t precisely mirror public opinion on these companies solely.

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What model presents higher ease of use, accessibility & safety?


PayPal is accessible to a variety of nations, supporting 17 completely different languages. The app is offered on each iOS and Android, permitting you to view your stability, add and withdraw cash, and ship cash. The app receives good critiques for its comfort and ease of use.

To maintain accounts safe, PayPal makes use of superior encryption expertise as a way to shield each transaction it processes. It additionally has safety questions in place that you should use if you happen to overlook or lose your password, though it’s also possible to contact customer support to regain entry to your account.


Payoneer has over 300 customer support representatives in a position to provide help to purchasers in over 70 languages by dwell chat, electronic mail, and phone. As well as, the web site might be translated into 8 different languages to make sending cash extra accessible. The Payoneer app has usually optimistic critiques, giving customers the power to handle currencies, request funds, and withdraw funds to financial institution accounts.

For safety, Payoneer is a registered US Cash Service Enterprise (MSB) and is licensed at a PCI Degree 1 Knowledge Safety Customary. Payoneer additionally makes use of 2-step verification to assist make sure that no malicious actors are in a position to break into your account. 

✅ Verdict: It’s a tie

Whereas Payoneer helps extra languages for buyer help, each corporations guarantee a excessive stage of safety when processing your transactions.

Further options


Along with funds for family and friends, PayPal’s essential territory is in e-commerce. It’s most generally used as a way to pay retailers for items on-line – to do that, you’ll be able to authorize a vendor to make use of your PayPal account, or designate a month-to-month fee for a subscription service.


Payoneer is designed particularly to offer a extra handy manner for enterprise professionals to attach and develop by cross-border funds. That is distinctive to most different on-line switch companies, whose essential operate is to offer on-line transfers to anybody who seeks to ship cash overseas, whether or not that’s to a member of the family, to pay for international purchases or one thing else completely.

Case research: sending quite a lot of quantities

On this case research, we’ll check out the trade charge margins, charges, and switch occasions of every supplier when sending numerous quantities.


Sending $200

To ship $200 USD to SGD with PayPal, you’ll incur a hard and fast price of $0.50, a cross-border price of two% of the quantity you might be sending, plus a 4% markup on the bottom trade charge. Your recipient would sometimes anticipate to see this quantity inside 1 – 3 working days of their account. 

Sending $1,000

Sending this quantity with PayPal would have the identical price construction as listed above – since you are sending a bigger quantity, you’ll due to this fact be charged the next cross-border price and a 4% markup on the mid-market charge. 

Sending $5,000

This switch with PayPal would take between 1 – 5 working days and would have the identical price construction listed above. In fact, a 2% cross-border price provides as much as far more costly charges with a sum this massive.


Sending $200

Sending $200 USD with Payoneer would don’t have any switch price when sending to Singapore, and an trade charge markup between 2 – 3%. The switch would sometimes take round 1-5 days to be acquired. Your recipient would obtain a complete of $265.90 SGD.

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Sending $1,000

You’ll get the identical charges, trade charge, and switch time as above when sending this sum with Payoneer. Your recipient would get $1,329.50 (on the time of writing).

Sending $5,000

Sending $5,000 UDD with Payoneer would depart your recipient with $6,647.50 on the time of writing, with the switch prone to take nearer to three – 5 working days. Once more, there can be no charges connected to this switch if you happen to had been utilizing your Payoneer account.


✅ Verdict: Payoneer has higher charges, however isn’t preferrred for sending on an off-the-cuff foundation

From this case research, we are able to see that Payoneer’s trade charges and costs are extra beneficial than PayPal’s. Nevertheless, it’s necessary to understand that Payoneer isn’t your typical cash switch firm. Payoneer is greatest fitted to companies and freelancers, relatively than for transfers meant for family and friends.

Last verdict – who is best?

General, when evaluating Paypal vs Payoneer, these two corporations are greatest suited to completely different sorts of transfers. PayPal could also be extra appropriate than Payoneer for easy transfers to family and friends, whereas Payoneer offers a wonderful service for enterprise transactions.

Should you’re not searching for a switch supplier for sending cash commercially, nevertheless, you’ll in all probability discover extra beneficial charges with a distinct on-line cash switch supplier than PayPal. You should use our comparability device on the high of the web page to search out the perfect suppliers on your switch.

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Yasmin Purnell

Yasmin Purnell

Written by

Yasmin is the content material author for MoneyTransfers.com. With an English diploma from the College of Nottingham and over 5 years’ expertise freelancing within the private finance area of interest, Yasmin joined the crew with a mission to make worldwide cash transfers accessible and straightforward to grasp for all. When she’s not writing, you’ll discover Yasmin on her yoga mat or planning her subsequent escape to the mountains.


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