Wise vs Payoneer - Who is better? [UPDATED 2024]

When it comes to sending money across borders, we tested options like Wise and Payoneer have emerged as leading choices. Both Wise and Payoneer online platforms offer efficient and cost-effective and secure international money transfers from Wise and Payoneer.

We compare Wise vs Payoneer into the unique features and benefits that distinguish Wise vs Payoneer, empowering you to make an informed decision based on your specific transfer needs like Wise vs Payoneer fees, currencies available, available payment methods on Wise compared to Payoneer, support options offered by Wise vs Payoneer, speed and more.

Wise vs Payoneer: Quick Feature Comparison

  1. Visit Wise alternative Wise Visit Wise

    Used By: 11000000
    Currencies Available: 54
    Transfer Fees: 0.5%-1%
    Payment Methods: Bank transfer, debit card, credit card, SOFORT transfer
    iOS App : yes, Android App : yes

    LiveChat:
    Min Transfer: US$1.00
    Max Transfer: US$1,000,000 (varies based on currency)
    Year Founded: 2011

  2. Visit Wise alternative Payoneer Visit Payoneer

    Used By: 4000000
    Currencies Available: 7
    Transfer Fees: 0.50%
    Payment Methods: ACH Bank Debit, local bank transfer and credit/debit card payment
    iOS App : yes, Android App : yes

    LiveChat: yes
    Min Transfer: 50 USD
    Max Transfer: 5000 USD
    Year Founded: 2005

Wise vs Payoneer: Pros and Cons

Wise vs Payoneer
Advantages

Wise Advantages Payoneer Advantages
  • Wise has been serving clients for over 13 years
  • Wise is well rated among clients.
  • Wise is available internationally.
  • Wise has multiple currency options.
  • Wise provides phone customer support.
  • Wise provides email customer support.
  • Wise is available to iOS Apple device users.
  • Wise is available to Android mobile device users.
  • Payoneer has been in operation for over 19 years.
  • Payoneer boasts a high rating for sending money.
  • Payoneer operates in numerous international countries.
  • Payoneer offers an extensive range of currency options for money transfers.
  • Payoneer provides phone support.
  • Payoneer offers registered customers email support.
  • Payoneer has a Apple iOS app on Apple app store.
  • Payoneer offers a Android Google Play Store mobile app.

Wise vs Payoneer
Disadvantages

Wise Disadvantages Payoneer Disadvantages
  • Wise has no PayPal support.
  • Wise has no Neteller payments support.
  • Wise has no Skrill payment support.
  • Wise does have a mobile digital wallet like some others.
  • No home delivery with Wise.
  • No cash pickups with Wise.
  • No money order support with Wise.
  • No live chat support with Wise.
  • Payoneer has no PayPal option.
  • Payoneer has no Neteller option.
  • Payoneer has no Skrill option.
  • No digital wallets with Payoneer.
  • No Payoneer home delivery.
  • No Payoneer Cash pickups.
  • No Payoneer money order option.
  • No Payoneer Livechat.

Wise vs Payoneer Fees and Other Costs

Fee type Wise Fees Payoneer Fees
Transfer Fees 0.5%-1% 0.50%
Min Transfer US$1.00 50 USD
Max Transfer US$1,000,000 (varies based on currency) 5000 USD
Payment Methods Bank transfer, debit card, credit card, SOFORT transfer ACH Bank Debit, local bank transfer and credit/debit card payment
Currencies AED, AUD, BGN, BRL, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, IDR, INR, JPY, MYR, NOK, NZD, PLN, RON, TRY, SEK, SGD, USD, ARS, BDT, BWP, CLP, CNY, COP, CRC, EGP, GEL, GHS, ILS, KES, KRW, LKR, MAD, MXN, NGN, NPR, PHP, PKR, RUB, THB, UAH, UGX, UYU, VND, XOF, ZAR, ZMW USD, EUR, GBP, CAD, AUD, JPY, CNH

Wise vs Payoneer Restricted Countries

Wise Country Restrictions

North Korea

Payoneer Country Restrictions

Afghanistan, Aland Islands, American Samoa, Angola, Anguilla, Antarctica, Antigua and Barbuda, Barbados, Belize, Benin, Bhutan, Bonaire (including Sint Eustatius and Saba), Bouvet Island, British Indian Ocean Territory, Burkina Faso, Burundi, Cape Verde, Central African Republic, Chad, Cocos (Keeling) Islands, Comoros, Congo, Democratic Republic of, Congo, Republic of, Cook Islands, Crimea, Cuba, Curacao, Djibouti, Equatorial Guinea, Eritrea, Faroe Islands, Fiji, French Guyana, French Polynesia, French Southern Territories, Gabon, Gambia, Greenland, Grenada, Guadeloupe, Guinea, Guinea-Bissau, Guyana, Haiti, Heard Island and Mcdonald Islands, Holy See (Vatican City State), Iran, Iraq, Ivory Coast (Cote d'Ivoire), Japan, Kiribati, Kosovo, Kyrgyzstan, Lao People’s Democratic Republic, Lebanon, Liberia, Libya, Macao, Mali, Marshall Islands, Martinique, Mauritania, Mayotte, Micronesia, Federated States of, Montserrat, Myanmar, Namibia, Nauru, New Caledonia, Niger, Niue, Norfolk Island, North Korea, Northern Mariana Islands, Palau, Palestinian Territory, Papua New Guinea, Reunion, Pitcairn, Rwanda, Saint Barthelemy, Saint Helena, Saint Kitts and Nevis, Saint Lucia, Saint Martin, Saint Pierre and Miquelon, Saint Vincent and the Grenadines, Sao Tome e Principe, Seychelles, Sierra Leone, Sint Maarten, Solomon Islands, Somalia, South Georgia and the South Sandwich Islands, Sudan (North and South), Suriname, Svalbard and Jan Mayen, Syria, Tajikistan, Timor-Leste, Togo, Tokelau, Tonga, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Vanuatu, Venezuela, Wallis and Futuna, Western Sahara, Western Samoa, Yemen, Zimbabwe, Crimea, Cuba, Iran, Libya, North Korea, South Sudan, Sudan, Syria

Wise vs Payoneer Transfer Speeds

Transfer Speed Wise Payoneer
Account Opening 1-3 days 1-3 days
Money Transfer Speed 1-10 days 1-10 days

Wise vs Payoneer Languages

Wise Supported Languages

English, French, German, Hungarian, Japanese, Polish, Portugese, Romanian, Russian, Spanish, Turkish

Payoneer Supported Languages

Wise vs Payoneer Verdict - Which is better?

Which is best out of Wise and Payoneer depends on your needs.

  • Wise vs Payoneer Transfer Fees: Transferring money with Wise costs 0.5%-1% while Payoneer charges 0.50%.
  • Wise vs Payoneer Supported Currencies: Wise deals in over 1, where as Payoneer offers transactions in 1.
  • Wise vs Payoneer Payment Methods: Wise accepts Bank transfer, debit card, credit card, SOFORT transfer, while Payoneer allows transactions via ACH Bank Debit, local bank transfer and credit/debit card payment.
  • Wise vs Payoneer Transfer Limits: Wise allows transfers between US$1.00 and US$1,000,000 (varies based on currency). Payoneer's range is 50 USD to 5000 USD.
  • Wise vs Payoneer Minimum Age for Account Creation: Wise requires users to be at least 18 years old, where as Payoneer has a minimum age requirement of 18.
  • Contact Number: You can reach Wise at 44 20 7033 0296 and Payoneer at +1 800-251-2521.
  • Wise vs Payoneer Countries of Operation: Wise operates in over 1 countries but has restrictions in over 1 countries. Payoneer serves 1 countries and restricts operations in 1 countries.
  • Wise vs Payoneer Client Base: Wise is used by 11,000,000, where as Payoneer serves 4,000,000.
  • Wise vs Payoneer Year Founded: Wise was established in 2011 and Payoneer began its operations in 2005.
  • Wise vs Payoneer Customer Rating: Wise holds a rating of 4, in contrast, Payoneer has a rating of 3.
  • Wise vs Payoneer Headquarters: Wise has its headquarters at London, UK, while Payoneer is based at New York (US).
  • Wise vs Payoneer Employee Count: Wise employs 2,243 individuals, where as Payoneer has a team of 2.
  • Wise vs Payoneer Estimated Annual Turnover: Wise turnover stands at 27000000, while Payoneer boasts a turnover of 110900000.
  • Wise vs Payoneer Founder: Wise was founded by Venkatesh Saha, holding the position of CEO. On the other hand, Payoneer was the brainchild of Charles Rosenblatt, currently holding the position of Chief Strategy Officer.
  • Wise vs Payoneer Supported Languages: Wise offers support in over 1 languages. Payoneer communicates in 1.

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Wise vs Payoneer Alternatives Guides

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Screenshots

Wise Screenshot

Wise Screenshot

Payoneer Screenshot

Wise Screenshot