Posts Tagged with “Payoneer alternative”

I used TransferWise and It’s Better than Paypal and Payoneer!



I’ve used TransferWise for money transfer and receiving international freelance payments in my borderless account. This is my honest TransferWise review and why I think it is a much better alternative to Payoneer, Paypal, traditional bank wires or exchange kiosks.

If you are here for the reward offer, sign up using this link and you’ll get free international transfer of up to £500.


My Personal TransferWise Review

As a freelancer based outside of US, it is always a headache to receive payments from the websites I work for. So far I had been using Payoneer and Paypal to make do. But those methods would cost me almost 15% in transaction and withdrawl fees alone. If I made $100, when that payment was deposited into my Payoneer account it would become $98 ($2 deposit fee). Then each time I used the Payoneer Mastercard debit card, I lost around $3 to Payoneer and another $5 to the local ATM machine as transaction and withdrawl fees. Also just to keep the Payoneer account active, they charged $29/year. All in all of that $100, I would end up only getting about $85. Paypal was no better. I didn’t have other options until last month when I heard about TransferWise.

I signed up immediately and went through their verification process. When I received $133.16 from my freelance work, I was glad that there was no fee! I received the amount in full. (Payoneer would have deducted $2.7) Then as a test, I transferred $100 to my local bank account in my country. I received $98 out of that $100. In total I only paid $2.7 total fees, compared to $15 fees on Payoneer. I am going to stick with TransferWise for sure.

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