Personal Features

Payoneer

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0

Payoneer only offers money transfer solutions for freelancers and businesses. Therefore Payoneer receives a zero score for the Individual services category. If you need international money transfer services or solutions and you are not a freelancer or a business. You should click Compare Now in the top menu. Find the best companies for individuals that support your home and destination country.


Neteller

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43

Neteller lets you send money from your account directly to bank accounts and mobile money accounts via Skrill, its sister company.

Send money with just a recipient’s email and the money is sent within 2-6 hours

No scheduled transfers


It’s a draw!

Both equally compare in the Personal Features category.

Neteller
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Winner

Business Benefits

Payoneer

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89

Payoneer specializes in providing international money transfer services for businesses, online sellers and freelancers. Payoneer offers international payment solutions for large and small businesses alike. AirBNB has partnered with Payoneer to service payments to their hosts. Small business and entrepreneurs leverage Payoneers Online Sellers integration to easily receive payments from Amazon, Wish and Shopee and many more. See a high level list of the services Payoneer offer below.

What Payoneer for business offers

  • Solutions for online sellers
  • Unique local multi-currency bank accounts
  • Mass payments
  • Prepaid Mastercard
  • Payment requests
  • Payoneer to Payoneer transfers
  • Accounting integration

What Payoneer for business doesn’t do

  • Currency hedging tools
  • Dedicated account managers for small transfers

Neteller

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33

Online payment processing for merchants and consumers in over 200 countries and 15 languages.

Multi currency solutions.

Recurring payments.


Payoneer wins!

Payoneer scores better in the Business Benefits category.

Payoneer
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Winner

Fees & Exchange Rates

Payoneer

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Payoneer fees include transferring money out of Payoneer to local bank accounts, using their Mastercard to spend in foreign countries, and some additional fees. There are no fees for receiving money in to your Payoneer account.

Payoneer Fees

There are different fees for Payoneer services. Read the review of Payoneer to see a detailed breakdown of all the fees that can apply. Below is a short summary of the Payoneer fees.

Exchange rate margin fee - An exchange rate margin of up to 3% can apply in different circumstances such as withdrawing money and transferring balances between different currencies. You may negotiate better rates when carrying out large value transfers.

Payoneer Mastercard - Spending funds in the Payoneer account using the Payoneer Mastercard can have up to a 3.5% currency conversion fee.

Are there additional Payoneer fees?

Yes. You might need to pay fees when receiving and making payments. The Payoneer Prepaid Mastercard comes with an annual fee. 


Neteller

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7

Exchange Rates

Exchange rates fluctuate according to existing market rates.

Neteller adds a 3.99% markup to the average daily interbank rate.

You find out about the rate that will apply on your transfer in advance.
 

Additional Fees

Adding funds to your Neteller account through most methods comes with a 2.5% fee.

Withdrawing funds via a bank transfer comes with a U.S. $10 fee.

If you opt for a wire transfer withdrawal, you pay U.S. $12.75 in fees.

Making withdrawals via member sites comes with no fees.

If you use Neteller to transfer money, you pay 1.45% as fees, with a minimum of U.S. $0.50.

If your account remains inactive for 14 months, the company charges an inactive administrative fee.


Payoneer wins!


Payoneer scores better in the Fees and Exchange Rates category.

Payoneer
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Winner

Ease of Use

Payoneer

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64

What Payoneer does well

Sign up process - Fairly straightforward although completing the US tax form can be time consuming.

Payment options -  Bank account transfers, debit card, credit cards and Payoneer balances.

Mobile app - Available for iOS and Android. 
 

Where Payoneer could improve

Transfer speed - Up to 3 business days upon payment.

Phone transfers - Transfers can not be completed over the phone.

USA tax compliance form assistance - Completing the form as a non-US resident can be confusing. It would be of great help to provide more assistance for non-nationals to complete these forms.


Neteller

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68

Neteller operates a multilingual website.

You can pay using an international bank transfer, a local bank deposit, a Visa card, or through various region-specific methods.

You can make payments using cryptocurrencies.

Neteller has an app for both Apple and Android.


Payoneer wins!

Payoneer scores better in the Ease of Use category.

Neteller
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Winner

Support & Countries

Payoneer

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88

What Payoneer does well

Supported destination countries and currencies - Payoneer supports transfers to more than 200 countries and territories, in over 150 currencies.

Customer support - Customer support is available via chat, email and over the phone.

Languages - Access to the Payoneer website comes in multiple languages.
 

Where Payoneer could improve

Send from countries - As of now, customers can use the Global Payment Service to send money from the United States, European Union, the United Kingdom, Japan, Australia, Canada and Mexico.

Customer Service - There is a growing number of negative customer reviews for Payoneer. These need to be addressed and communicated through review channels such as Trustpilot.


Neteller

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56

Supported Countries

Neteller provides its services in most countries in the world.

They provide a list of countries they do not support online.
 

Customer Support

Neteller has a poor score on Trustpilot, with an average of 1.3 out of 10.


Payoneer wins!

Payoneer scores better in the Support and Countries category.

Payoneer
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Winner

Trust & Transparency

Payoneer

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63

What Payoneer does well

  • Payoneer is fully regulated in different countries.
  • Two-factor authentication adds another layer of security to your Payoneer account.
  • High volume of repeat transfers implies high levels of trust.

Where Payoneer could improve

Exchange rate margin fee transparency - Payoneer’s exchange rates include margins of up to 3% in some cases.


Neteller

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31

Websites and apps rely on high encryption levels.

Neteller is owned and operated by Paysafe Holdings UK Limited.

Paysafe is authorized by the UK Financial Conduct Authority (FCA).

Paysafe is also licensed as a money transmission services provider by the Financial Services Authority of the Isle of Man.


Payoneer wins!

Payoneer scores better in the Trust and Transparency category.

Payoneer
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Winner

The Result

Winner ribbon iconWinner

 Payoneer

Despite Payoneer not offering any personal services, they won by a landslide on their business services against Neteller.  There is also a big gap in the Fees and Exchange, Support and Countries and Trust and Transparency sections for Payoneer and against Neteller.  Surprisingly Neteller just edges out Payoneer with its ease of use.   All this resulted in a comfortable win for Payoneer.