Which scores better when comparing WorldFirst vs Payoneer? See how each provider scores and who wins when comparing their services, fees, supported countries and customer service.
WorldFirst
Overall score:
84
84
Payoneer
Overall score:
71
71
Personal Features
Business Benefits
Fees & Exchange Rates
Ease of Use
Support & Countries
Trust & Transparency
50
50
WorldFirst offers international money transfer services for individuals. They also offer tools for business clients.
0
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.
89
89
WorldFirst has an excellent offering for business and promotes partnerships with businesses operating in a global environment. There are solutions for online sellers, import / export and global human resources payments.
Through the WorldFirst World Account you can leverage unique banking details in 10 different currencies and reduce costs on receiving money from customers and paying suppliers. Local banking details are available in GBP, EUR, USD, CAD, CNH, HKD, JPY, NZD, SGD and AUD.
89
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.
Both equally compare in the Business Benefits category.
79
79
WorldFirst has a super simple fee structure for international money transfers. The WorldFirst fees are additional to the real exchange rate.
WorldFirst World Account fees also have the same simple fee structure and fees only apply when withdrawing funds from virtual multi-currency accounts.
| Annual Transfer Amount | £0 - £500K | £500K - £5M | £5M+ |
| WorldFirst Fees | 0.60% | 0.35% | 0.25% |
WorldFirst Australia has introduced (March 2021) new fees for small currency conversion amounts of less that AUD$10,000. These fees can make it prohibitive for small businesses to conduct day to day business payments.
| WorldFirst Australia fixed fee for FX | Fee |
| < $2,000 | $20 |
| $2,000 - $10,000 | $10 |
| $10,000 + | $0 |
42
42
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.
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.
Yes. You might need to pay fees when receiving and making payments. The Payoneer Prepaid Mastercard comes with an annual fee.
57
57
WorldFirst account creation and registration is simple and straightforward. Unfortunately there is room for improvement in some areas:
ID verification - This can be slower outside of the UK taking up to 24 hours.
Payment options - Basic by only supporting bank transfer payment options.
Mobile apps - The World Account uses a different mobile app than their international money transfer app. This can be cumbersome for account management.
Minimum transfer amount - This is quite high for individuals at $2000 / £1000. There is, however, no minimum for business clients.
64
64
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.
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.
56
56
Unfortunately, USA residents are not eligible to create a WorldFirst account. This is a major let down for WorldFirst supported countries. This point has impacted the WorldFirst supported countries iCompareFX score.
88
88
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.
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.
94
94
63
63
Exchange rate margin fee transparency - Payoneer’s exchange rates include margins of up to 3% in some cases.
WinnerAlthough WorldFirst has won the overall competition, Payoneer has done well considering it does not have any services for individuals. With a tie across their business benefits, Payoneer excelled in the Ease of Use and Support and Countries categories. But it is WorldFirst's superior fees and exchange rates and trust and transparency that lead them to their impressive score of 84.
