Payoneer Alternatives and Competitors

September 7, 2020

Headquartered in New York City, Payoneer began operations in 2005. This financial services business provides online fund transfer and eCommerce payments solutions, mainly to small and medium enterprises. Payoneer operates as a registered Member Service Provider (MSP) of MasterCard Inc.

The innovative payment method this platform provides enables global marketplaces and companies to transfer funds securely and quickly. With its prepaid MasterCard and direct money transfer service, you can receive funds from international third parties easily.

Transparent fee structure
Send money to email addresses
Multicurrency account with debit card
Multilingual website & app

low

Fees

fast

1-2 days

Go to Site

Low Transparent fee structure
Forward contracts
Scheduled transfers
Dedicated account manager
Live chat support

low

Fees

fast

1-2 days

Go to Site

Forward contracts and limit orders
Scheduled transfers
Travel money solutions for residents of the UK
Multilingual website

low

Fees

medium

2-3 days

Go to Site

0.4% margin for new customers referred by iCompareFX
Fee-free transfers
Scheduled transfers
Online and phone transfers

low

Fees

medium

2-3 days

Go to Site

Jump to an alternative provider

TransferWise

Jump to

WorldFirst

Jump to

Currencies Direct

Jump to

OFX

Jump to

TransferWise

TransferWise provides services to businesses, online sellers and individuals. It provides website access in different languages. The TransferWise Borderless Account gives businesses an easy means to make and receive payments, and you can hold funds in up to 27 currencies. The Borderless Account also gives you free receiving accounts in three major currencies.

Lets you register as a business, an online seller or an individual

UK-based, with offices also in the U.S., Estonia, Hungary, Ukraine, Australia, Japan and Singapore

Multilingual website

Send and receive funds using no more than email addresses

Hold funds in multiple currencies

Get free receiving accounts in U.S. dollars, British pounds and euros

Get local phone support in different countries

Does not provide forward contracts or market orders

Transfer fee depends on the country of the transfer’s origin, the destination country, the transfer amount and the transfer method

Transfers only to bank accounts

Peer-to-peer network does not work with all countries

WorldFirst

WorldFirst specializes in international payments, offering services to individuals, business and online sellers. Receiving payments is quick, easy and cost-effective when you use local accounts offered by WorldFirst in the UK, Europe and Japan.

With the WorldFirst Multi-Currency Account, WorldFirst is positioning itself to compete with Payoneer for the same target markets.

Provides services to businesses, online sellers and individuals

Headquarters in the UK, with offices also in the Netherlands, Australia, Japan, Singapore and Hong Kong

Website access in English, Chinese, Japanese, French and Dutch

Local phone support in various languages

Choose from receiving accounts in USD, GBP, EUR, CAD, CNY and JPY

Businesses and online sellers can make supplier payments easily

Provides unique offers for individual and business customers

Applies a transparent margin over existing interbank/mid-market rates

The “World Account” lets businesses and online sellers receive and make cost-effective payments in different currencies using matching currency accounts

World Account-Xero integration is straightforward

Provides spot orders, scheduled transfers and forward contracts

Individual transfers only to bank accounts

You can not use WorldFirst to send money from the U.S.

Sending limits vary depending on where you live and your preferred payment method

Currencies Direct

Currencies Direct has been around since 1996, making it one of the older players of Payoneer competitors. Headquartered in the UK, this company also has offices in France, India, Portugal, South Africa, Spain and the U.S. Access to the Currencies Direct website is in Chinese, French, Italian, Norwegian, Portuguese, Spanish and Swedish. You can use the services of this company as an individual, a business or an online seller. The minimum transfer limit is £1 (or its equivalent in another currency).

Website access in various languages

Provides services to individuals, businesses and online sellers

Gives all customers access to account managers

UK-based company, with offices also in the U.S., China, India, France, Spain, Portugal and South Africa

Get local phone support in several countries

Provides travel money solutions to residents of the UK

Allows scheduled transfers

Lets you choose from spot transfers, limit orders and forward contracts

Carries out only bank account transfers

Residents of some American states can not register as customers

OFX

OFX is a well established international money transfer provider. They have been in this market since 2002. OFX is the new global and combined brand previously known as the OzForex Group, which included UKForex, USForex, NZForex, CanadianForex, NZForex, Tranzfers, and ClearFX. OFX has 13 years experience and a truly global presence. OFX has offices in most major cities including Sydney, Hong Kong, London, San Francisco, Toronto and Auckland. Learn more about OFX's global service by reading the OFX Review here.

Provides services to individuals, businesses and online sellers

Works in matching and beating its competitors’ rates

No fees if the transfer amount exceeds a preset threshold limit

Australia-based – offices also in New Zealand, the U.S., the UK and Hong Kong

Local phone support provided in various countries

Lets you trade online and over the phone

Scheduling transfers is easy

Provides spot transfers, forward contracts and market orders

Carries out only bank account transfers

Need to speak to an OFX representative to trade in some currencies

Website access only in English

Personal