Last reviewed: September 29, 2026. Fees and exchange rates change often. Every figure below comes from the provider's own pricing, fee or help pages as they read on that date, and we name the country each fee applies to.
Wise, PayPal and Payoneer all move money across borders, but they were built for different jobs. PayPal is a checkout button and a wallet. Wise is a money transfer and multi-currency account service that uses the mid-market exchange rate. Payoneer is a business account aimed at freelancers and online sellers who get paid by marketplaces and foreign clients.
Because they were built for different jobs, their fees sit in different places. One charges you mainly when you receive. Another charges you mainly when you convert. The third charges small fixed amounts in many places. This guide lays the three side by side, shows the real fee formulas from each company's own pages, and works through a $1,000 example so you can see what actually lands in your bank account.
Short answer
- Cheapest for converting money: Wise, in most cases. It converts at the mid-market rate and shows a separate fee. On September 29, 2026, Wise quoted a fee of 3.29 USD (0.33%) to convert 1,000 USD to GBP inside a Wise balance.
- Most expensive for converting money: PayPal. Its own fee pages add a currency conversion spread of 3% to 4% on top of its base exchange rate, depending on the country and transaction type.
- Best for marketplace payouts in many countries: Payoneer. It is built into many marketplaces and works in countries where Wise does not let residents hold money. Its costs are usually between Wise and PayPal.
- Best for getting paid by strangers online: PayPal. Many buyers already have it, and eligible buyers and sellers get protection programs. You pay for that reach in fees.
- Many freelancers use two: one to get paid (PayPal or Payoneer, or Wise account details) and Wise to convert and send money home.
This article is general information, not personalized financial, legal or tax advice. Check the current fees for your own country before you move money.
In this guide
- Quick comparison table
- How each service works
- Fee breakdown
- Exchange rates explained
- Worked example: receiving $1,000
- Receiving from Upwork, Fiverr and Amazon
- Availability by country
- Safety, regulation and protection
- Account holds and limits
- Cards
- Which to choose by scenario
- When none of them fits
- FAQ
- Bottom line
- Sources
Quick comparison table
This table gives the headline figures. The fee breakdown section below explains each row and the country it applies to. "Mid-market" means the rate halfway between the buy and sell prices on global currency markets, the one you see on Google or Reuters.
| Feature | Wise | PayPal | Payoneer |
|---|---|---|---|
| Main purpose | International transfers and multi-currency account | Online checkout, wallet, invoices | Business account for cross-border freelancers and sellers |
| Exchange rate used | Mid-market rate plus a separate, shown fee | PayPal base rate plus a 3% to 4% spread (varies by country and transaction) | Rate based on wholesale market rates, plus a conversion fee |
| Example conversion cost | 0.33% for 1,000 USD to GBP (quote on Sept 29, 2026) | 3% above base rate (UK, Germany business pages); 3% or 4% (US) | 0.5% between Payoneer balances; 1.2% to 4% when converting on withdrawal |
| Receiving local bank payments | Free for domestic (non-Swift, non-wire) payments in AUD, CAD, EUR, GBP, HUF, NZD, PHP, SGD, USD | Not a bank-transfer receiving service; buyers pay with PayPal, card or bank | Free into a local-currency receiving account; 1% (min 1 USD) into a non-local one |
| Receiving USD wire or Swift | 6.11 USD per payment | Not applicable | Covered by receiving-account fees above |
| Selling fee (commercial payments) | Not a checkout provider | US: 3.49% + fixed fee; UK: 2.9% + fixed fee; Germany: 2.99% + fixed fee; plus an international surcharge | Card payments from clients: up to 3.99% + 0.49 USD |
| Withdraw to own bank | Free if same currency is sent domestically; conversion fee if converting | US: standard transfer free with no conversion; instant transfer 1.75% (personal) or 1.50% (business) | 1.50 USD in select countries in local currency; 1.2% to 4% with conversion |
| Annual or account fee | No subscription; Wise Business US set-up 31 USD | No account fee on the pages reviewed | 29.95 USD a year if you receive under 6,000 USD in 12 months |
| Debit card | US 9 USD, UK 7 GBP, EU 7 EUR to order; free ATM up to 250 a month | Offered in some markets (not reviewed here) | 29.95 USD annual card fee; eligibility threshold applies |
| Buyer and seller protection | No purchase protection (it is a transfer service) | Purchase Protection and Seller Protection for eligible transactions | No PayPal-style buyer protection |
How each service works
Wise
Wise started as a money transfer service and now offers a multi-currency account. You can hold money in many currencies, get local account details in several of them, send money abroad and spend with a debit card in many countries.
The key point is the exchange rate. Wise says it converts at the mid-market rate, the one you usually see on Google, and charges a separate fee that it shows before you confirm. That makes the cost easy to see and compare.
Account details let you receive money like a local. A client in the US can pay your Wise USD details by ACH as if paying a US bank account. A client in the UK can pay your GBP details by a normal UK bank transfer. Wise lists receiving domestic (non-Swift, non-wire) payments in AUD, CAD, EUR, GBP, HUF, NZD, PHP, SGD and USD as free on its US and UK receive pricing pages.
Wise is not a payment button for strangers. It is not designed for a buyer who wants protection if goods do not arrive. It is a way to move money cheaply between people and businesses that already trust each other.
PayPal
PayPal is a digital wallet and checkout service. Buyers pay with their PayPal balance, a linked bank account or a card. Sellers receive the money into a PayPal balance and then withdraw it to a bank.
PayPal makes money in two main places. First, sellers pay a percentage plus a fixed fee on commercial payments, with an extra percentage when the buyer is in another country. Second, when PayPal converts currency, it adds a spread to its base exchange rate. Its US fee pages list that spread as 4.00% for payments in another currency and 3.00% for all other transactions, "or such other amount as may be disclosed to you during the transaction."
PayPal's biggest strength is reach. Many clients and shoppers already have an account, and its Purchase Protection and Seller Protection programs cover eligible transactions. For freelancers, that can mean getting paid by a client who would never set up an international bank transfer.
Payoneer
Payoneer is a business account for cross-border work. It gives you receiving accounts, meaning local bank details in currencies such as USD, EUR and GBP, so foreign clients and marketplaces can pay you as if they were paying a local bank. You then withdraw to your own bank in your local currency, spend with a Payoneer card if eligible, or pay other Payoneer users.
Payoneer is built into many marketplaces and platforms. That is why it is common among freelancers and sellers in countries where other options are limited. Payoneer says you can withdraw to local bank accounts in 190+ countries and territories.
Payoneer's pricing page notes that its prices are "an estimation based on our most standard and common fee structure" and may vary by territory, account type and region. So always check the fee section inside your own account.
Fee breakdown
Fees fall into five buckets: receiving, currency conversion, withdrawing to your bank, sending, and cards. We go through each one. Where a fee depends on the country, we name the country.
Receiving money
Wise. According to Wise's receive pricing pages for US and UK residents, receiving domestic (non-Swift, non-wire) payments in AUD, CAD, EUR, GBP, HUF, NZD, PHP, SGD and USD is free. Receiving USD wire and Swift payments costs a fixed 6.11 USD per payment. Receiving GBP Swift costs 2.16 GBP and EUR Swift costs 2.39 EUR per payment. Wise's help center adds that ACH payments (direct deposits) in USD are free to receive, that domestic USD wires carry a fee, and that correspondent banks might apply their own fees on Swift payments.
For business customers in the US, Wise's business pricing page lists a one-time set-up fee of 31 USD, which includes getting account details to receive in 22 currencies. Wise's pricing page lists registration itself as free.
PayPal. Receiving a personal payment (friends and family) with no currency conversion has no fee in the US and UK, according to their consumer fee pages. Receiving payment for goods or services is a commercial transaction and carries a seller fee:
- US: PayPal Checkout and invoicing: 3.49% plus a fixed fee. The fixed fee for USD is 0.49 USD. International commercial transactions add 1.50%. (US merchant fee page, last updated September 1, 2026.)
- UK: Standard PayPal checkout: 2.9% plus a fixed fee (0.30 GBP, 0.35 EUR or 0.30 USD depending on the currency received). International commercial transactions add 1.29% for EEA buyers and 1.99% for all other markets. (UK merchant fee page, last updated 15 July 2026.)
- Germany: Standard checkout: 2.99% plus a fixed fee (0.39 EUR or 0.49 USD). International commercial transactions add 0% for EEA, 1.29% for the UK and 1.99% for all other markets. (German merchant fee page, last updated September 7, 2026.)
- Canada: The Canadian consumer fee page lists an additional international commercial fee of 1.00% for all countries except the US, where it is 0.80%. That page shows a last-updated date of November 15, 2022, so confirm inside your account.
Payoneer. Payoneer's pricing page lists:
- Receiving from another Payoneer balance: free.
- Receiving from integrated marketplaces: "varies by marketplace."
- Receiving into a local-currency receiving account: free.
- Receiving into a non-local-currency receiving account: 1% (minimum 1.00 USD or equivalent).
- Client pays by credit card: up to 3.99% plus 0.49 USD or equivalent.
- Client pays by ACH bank debit (US), or by EU/UK bank account: 1%.
"Local" means the currency of the country where you live. A freelancer in the UK receiving into a GBP account is receiving in local currency. The same freelancer receiving into a USD account is receiving in a non-local currency, so the 1% fee applies. Payoneer notes that fees depend on sender and recipient locations, payment method and currencies.
Currency conversion: markup versus mid-market
This is where most of the real cost hides. A fee you can see is easy to compare. A worse exchange rate is harder to notice, but it often costs more.
Wise converts at the mid-market rate and charges a visible fee. The fee varies by currency pair and amount. On September 29, 2026, Wise's live price quote for converting 1,000 USD from a Wise USD balance showed:
| Convert 1,000 USD to | Wise fee (within balance) | Fee as % of amount | Mid-market rate used | Amount you get |
|---|---|---|---|---|
| GBP | 3.29 USD | 0.33% | 0.755886 | 753.40 GBP |
| EUR | 2.89 USD | 0.29% | 0.881718 | 879.17 EUR |
| INR | 4.19 USD | 0.42% | 95.9721 | 95,569.98 INR |
| PHP | 4.88 USD | 0.49% | 62.6252 | 62,319.59 PHP |
| EGP | 8.03 USD | 0.81% | 52.07 | 51,651.88 EGP |
These quotes show the formula at work: amount you get equals (amount minus Wise fee) times the mid-market rate. For GBP, that is (1,000 minus 3.29) times 0.755886, which equals 753.40 GBP. Rates move every minute, and fees can differ by the country of your account, so treat these as a snapshot.
PayPal converts at a "transaction exchange rate" that includes a currency conversion spread on top of its base exchange rate. The spread depends on the country and the type of transaction:
- US (consumer and business pages): 4.00% for payments in another currency; 3.00% for all other transactions, or another amount disclosed during the transaction.
- UK: 3% above the base exchange rate for business balance conversions and for transactions where the receiver bears the conversion.
- Germany: 3% above the base exchange rate for balance conversions and when the recipient bears the conversion cost.
- Canada: 4.00% for personal payments and commercial transactions; 3.00% for other conversions.
- Australia: 4.0% for purchases, refunds and transfers to friends and family; 3.0% for other conversions.
- Egypt, Nigeria, Philippines: the local fee pages list a 4.0% spread for the relevant region when sending payments.
Note that PayPal's base exchange rate is PayPal's own reference rate. It is not necessarily the same as the mid-market rate. So the real gap to mid-market could be a little more or a little less than the spread shown.
Payoneer says its exchange rates are "based on wholesale market rates obtained at the time of transaction." Its pricing page lists a 0.50% fee for converting between Payoneer balances. If you instead withdraw to a bank account in a different currency, the fee is 1.2% to 4%, and Payoneer's withdrawal page says that "if currency conversion applies, the fee is included in the rate." In other words, you see one combined rate, and you should compare it against the mid-market rate yourself.
Withdrawal to your local bank
Wise. Moving money from your Wise balance to your own bank in the same currency uses Wise's normal payout pricing. In the Sept 29 quotes, a conversion paid out to a bank account cost only slightly more than a conversion kept in the balance. For USD to GBP, the total was 3.87 USD instead of 3.29 USD, because of a small flat fee of 0.58 USD. For USD to EUR, it was 3.44 USD instead of 2.89 USD.
PayPal.
- US: Standard transfer to a bank has no fee when no currency conversion is involved. Instant Transfer costs 1.75% of the amount (minimum 0.25 USD, maximum 25.00 USD) on the consumer page. The business page lists instant transfer at 1.50% with a 0.50 USD minimum.
- UK: Withdrawing to a bank account has no fee when no currency conversion is involved. Withdrawing to a US bank account from a UK account costs 3.00%.
- Canada: No fee to a local bank when no conversion is involved. Instant transfer to a debit card costs 1.75% (minimum 0.25 CAD, maximum 25.00 CAD).
- Philippines: No fee for PHP withdrawals above 7,000 PHP when no conversion is involved; 50 PHP for smaller withdrawals.
- Nigeria: PayPal's Nigeria fee page lists withdrawals to a linked local bank account or wallet through a third-party service provider at 2.0% plus 1.50 USD.
If your balance is in USD and your bank account is in another currency, PayPal converts on withdrawal. That is when the 3% to 4% spread applies.
Payoneer. Its pricing page lists:
- Withdrawal in local currency to a bank in the same country: 1.50 USD (in select countries listed on the page).
- Withdrawal to a bank in the recipient's local currency: 1.2% to 4%, with possible minimum fees of up to 20 USD.
- Withdrawal in a non-local currency (with conversion): 1.2% to 4%.
- US customers: a fixed 1.50 USD per withdrawal up to 50,000 USD a month, then up to 0.5%.
Payoneer says most withdrawals reach your local account within two business days, and that you can see the fee and exchange rate before you confirm.
Sending money to someone else
Wise charges its conversion fee plus a small payout fee, and shows the total. On Sept 29, 2026, sending 1,000 USD from a USD balance to a bank account cost 3.87 USD in total to the UK in GBP and 3.44 USD to the eurozone in EUR. For destinations in emerging markets the fee was higher, as the example section shows.
PayPal charges for international personal transfers funded by balance or bank:
- US: 5.00% of the amount, minimum 0.99 USD, maximum 4.99 USD. If the recipient gets a different currency, the 4.00% conversion spread also applies.
- UK: 5% of the amount, minimum 0.99 GBP, maximum 2.99 GBP.
- Canada: 2.99 CAD to Europe and the US, 4.99 CAD to other markets (balance or bank funding). Card funding adds 2.90% plus a fixed fee.
- Australia: 5.00% of the send amount, minimum 0.99 AUD, maximum 5.99 AUD.
The capped transfer fee looks cheap for large amounts. The conversion spread is the part that grows with the amount, and it is often the larger cost.
Payoneer is mainly for business payments. Paying another Payoneer user costs up to 4.00 USD, EUR or GBP in the same country, and up to 1% plus up to 4.00 USD in a different country. Payoneer is not designed for sending money to family.
If you mainly want to send money to family abroad, our guide on how to send money internationally for less covers more options, including banks and remittance apps.
Card fees
Card fees are covered in detail in the cards section. In short, the Wise card is cheap to spend with abroad because it converts at the mid-market rate plus Wise's conversion fee. Payoneer's card carries an annual fee and percentage fees on purchases in some cases. We did not review PayPal's debit card fees for this guide.
Exchange rates explained
The exchange rate is the single biggest reason people get different results from these three services. Here is how to think about it.
What the mid-market rate is
Banks and currency dealers buy currencies at one price and sell them at another. The mid-market rate is the point halfway between the two. It is the fairest reference rate, and it is what you see on Google, XE or Reuters. Wise uses this rate and adds a visible fee. Most other providers use a worse rate and keep the difference.
What a spread or markup costs you
A 3% spread on 1,000 USD costs about 30 USD worth of the target currency. A 4% spread costs about 40 USD. That is on every conversion, every time. If you convert 2,000 USD a month, a 3% spread costs roughly 720 USD a year, before any other fee.
Using the Sept 29 mid-market rate of 0.755886 GBP per USD, here is what 1,000 USD becomes under each published conversion cost:
| Conversion method | Published cost | 1,000 USD becomes (approx.) | Gap vs mid-market |
|---|---|---|---|
| Mid-market, no fee (reference only) | 0% | 755.89 GBP | 0 |
| Wise, within balance | 3.29 USD fee (0.33%) | 753.40 GBP | 2.49 GBP |
| Payoneer, between balances | 0.50% | 752.11 GBP | 3.78 GBP |
| Payoneer, on withdrawal (low end) | 1.2% | 746.82 GBP | 9.07 GBP |
| PayPal, 3% spread | 3% | 733.21 GBP | 22.68 GBP |
| PayPal, 4% spread | 4% | 725.65 GBP | 30.24 GBP |
| Payoneer, on withdrawal (high end) | 4% | 725.65 GBP | 30.24 GBP |
We applied each percentage as a simple reduction from the mid-market result, which is a close approximation. PayPal applies its spread to its own base rate, and Payoneer includes its fee in the rate it shows you, so your exact numbers will differ slightly. The ranking will not.
How to check any rate yourself
- Before you confirm a conversion, note the rate the provider offers.
- Look up the mid-market rate at that moment on a public source such as Google or Reuters.
- Divide the offered rate by the mid-market rate and subtract from 1. That is the hidden markup. For example, 0.7333 divided by 0.7559 is about 0.970, so the markup is about 3%.
- Add any visible fee on top to get your total cost.
The same logic applies to card payments abroad. Our guide to foreign transaction fees and dynamic currency conversion explains why you should usually pay in the local currency when a card terminal offers you a choice.
Worked example: a freelancer receiving $1,000
Let us follow a hypothetical freelancer who invoices a US client for 1,000 USD. We will look at three versions of this freelancer: one in the UK who wants GBP, one in Germany who wants EUR, and one in Egypt who wants EGP. We use only the fee formulas verified above and the mid-market rates Wise quoted on September 29, 2026.
These are illustrations, not quotes. Rates change constantly, and your own account may show different fees.
UK freelancer, paid 1,000 USD, wants GBP
Route 1: Wise account details. The US client sends 1,000 USD by ACH to the freelancer's Wise USD account details. Receiving a domestic USD payment (non-wire) is free. The freelancer converts in the Wise balance: fee 3.29 USD, so 996.71 USD is converted at 0.755886. Result: 753.40 GBP in the balance. If the freelancer instead sends it straight to a UK bank, the total fee is 3.87 USD and the result is 752.96 GBP.
If the client sends a USD wire instead of ACH, Wise charges 6.11 USD to receive it. The result then drops by roughly 4.6 GBP.
Route 2: PayPal invoice (UK account). The US client pays a PayPal invoice. The UK seller fee is 2.9% plus 1.99% for a buyer outside the EEA, which is 4.89% in total, plus a fixed fee of 0.30 USD. So the fee is 48.90 plus 0.30, which is 49.20 USD. Net: 950.80 USD. Converting that to GBP at PayPal's 3% spread gives about 950.80 times 0.755886 times 0.97, which is roughly 697.14 GBP. Withdrawal of GBP to a UK bank is free when no conversion is involved.
Route 3: Payoneer USD receiving account. The US client pays the freelancer's Payoneer USD receiving account by bank transfer. For a UK resident, USD is a non-local currency, so the receiving fee is 1%, which is 10 USD. Net: 990 USD. Converting between Payoneer balances at 0.50% gives about 990 times 0.755886 times 0.995, which is roughly 744.59 GBP, before any GBP withdrawal fee your account shows. Converting on withdrawal instead would cost 1.2% to 4%, giving roughly 739.35 GBP to 718.39 GBP.
German freelancer, paid 1,000 USD, wants EUR
Wise: ACH to USD account details, free to receive. Converting in the balance costs 2.89 USD, giving 879.17 EUR. Paying out to a eurozone bank costs 3.44 USD in total and gives 878.68 EUR. Wise's quote was generated without selecting a specific account country, so a German account may see a small difference.
PayPal (Germany): The German seller fee is 2.99% plus 1.99% for a US buyer, 4.98% in total, plus a fixed fee of 0.49 USD. Fee: 49.80 plus 0.49, which is 50.29 USD. Net: 949.71 USD. Converting at a 3% spread: about 949.71 times 0.881718 times 0.97, which is roughly 812.26 EUR.
Payoneer: 1% receiving fee on a non-local USD account leaves 990 USD. Converting between balances at 0.50%: about 990 times 0.881718 times 0.995, roughly 868.54 EUR. Converting on withdrawal at 1.2% to 4%: roughly 862.43 EUR to 837.98 EUR.
Egyptian freelancer, paid 1,000 USD, wants EGP
This case is different, because Egypt is not on Wise's list of countries where residents can hold money in a Wise account. So a freelancer living in Egypt cannot use Wise USD account details to get paid. The realistic choices are Payoneer, PayPal or a direct bank wire.
Payoneer: USD is non-local for an Egyptian resident, so the receiving fee is 1% and the net is 990 USD. Withdrawing to an Egyptian bank in EGP falls under "recipient's local currency," at 1.2% to 4%, with possible minimums up to 20 USD. At the Sept 29 mid-market rate of 52.07 EGP per USD, 990 USD is worth 51,549.30 EGP. After a 1.2% cost that is roughly 50,930.71 EGP; after a 4% cost, roughly 49,487.33 EGP. Your account will show the exact rate before you confirm.
PayPal: PayPal's Egypt fee page (updated September 28, 2026) lists no fee for receiving personal payments without conversion and a 4.0% conversion spread for the Middle East and Africa region. We could not verify the commercial receiving rate that applies to an Egyptian seller account on an official page, so we have not calculated a PayPal total for Egypt. Check the fees shown inside your account.
Summary of the example
| Scenario (client pays 1,000 USD) | Wise | PayPal | Payoneer |
|---|---|---|---|
| UK freelancer, GBP | about 753.40 GBP (in balance) | about 697.14 GBP | about 744.59 GBP (balance conversion) or 718.39 to 739.35 GBP (on withdrawal) |
| German freelancer, EUR | about 879.17 EUR (in balance) | about 812.26 EUR | about 868.54 EUR (balance conversion) or 837.98 to 862.43 EUR (on withdrawal) |
| Egyptian freelancer, EGP | Not available (cannot hold money in Wise) | Not calculated (commercial rate not verified) | about 49,487 to 50,931 EGP |
The lesson is clear. When a client is willing to pay by local bank transfer, Wise account details usually leave the most money in your pocket. Payoneer comes close when you convert inside the account. PayPal costs the most, because a seller fee and a conversion spread stack on top of each other. You pay for its convenience and reach.
Sending 1,000 USD home instead
Many readers are on the other side: working in the US, UK or Gulf and sending money to family. Here is what Wise quoted on Sept 29, 2026 for 1,000 USD from a Wise USD balance to a bank account in each country:
| Destination | Total Wise fee | Mid-market rate | Recipient gets |
|---|---|---|---|
| Egypt (EGP) | 10.76 USD | 52.07 | 51,509.73 EGP |
| India (INR) | 4.75 USD | 95.9721 | 95,516.23 INR |
| Pakistan (PKR) | 6.29 USD | 277.075 | 275,332.20 PKR |
| Philippines (PHP) | 5.43 USD | 62.6252 | 62,285.15 PHP |
| Nigeria (NGN) | 5.79 USD | 1,370.66 | 1,362,723.88 NGN |
For comparison, a US PayPal user sending 1,000 USD to someone abroad would pay the capped 4.99 USD transfer fee plus a 4.00% conversion spread if the recipient receives another currency. The spread alone is about 40 USD worth of the target currency. Funding a Wise transfer by bank debit or card, instead of from a balance, can change the Wise fee, so check the quote.
Receiving from Upwork, Fiverr and Amazon
If you work through a marketplace, the marketplace decides which payout methods you can use and what it charges. Here is only what their official help pages say, plus what Wise and Payoneer say about working with them. For a wider view, see our guide on how to get paid as a freelancer by international clients.
Upwork
Upwork's help center lists several withdrawal methods, including Direct to Local Bank, Direct to U.S. Bank, PayPal and Payoneer. According to its help pages:
- Direct to Local Bank costs 0.99 USD per withdrawal, plus any incoming fees your bank charges, and should arrive within four business days.
- Direct to U.S. Bank is free for freelancers with a United States tax address. From September 1, 2026, a 2.99 USD fee applies to each Direct to U.S. Bank withdrawal if your tax address is outside the United States.
- For PayPal and Payoneer, Upwork charges a per-transfer fee shown when you add the method, and those providers may add their own fees.
Wise's help center explains how to receive Upwork payments with Wise: open Wise USD account details, choose "Direct to US Bank (USD)" in Upwork's payment settings, and enter your Wise details. Upwork may send one or two small microdeposits to verify the account. Wise recommends receiving in USD, because if you choose another currency, Upwork converts at its own rate. If your tax address is outside the US, the 2.99 USD Upwork fee for Direct to U.S. Bank now applies to this route.
Fiverr
Fiverr's help center lists withdrawal through PayPal, bank transfer via Payoneer, and a Payoneer account. It says you can withdraw up to 5,000 USD per transaction and make multiple withdrawals for larger amounts. Fiverr lists a 1 USD minimum for PayPal withdrawals with no Fiverr charge, and minimums of 20 USD for bank transfer via Payoneer and 10 USD for a Payoneer account, with a Payoneer withdrawal fee of 1 USD or 3 USD depending on the method. After you add or change a Payoneer method, you must wait 24 hours before withdrawing. PayPal's and Payoneer's own fees then apply on their side.
Amazon
Amazon pays sellers by bank transfer to a deposit method you add in Seller Central. Wise's help center says Wise account details can be used with Amazon only for local payouts: for example, USD account details for Amazon US or a EUR IBAN for Amazon EU stores. It adds that you cannot use a GBP or EUR IBAN to withdraw other currencies, because Amazon does not make international payouts to those details. Non-US residents selling on Amazon US must also complete tax verification before payments are processed.
Payoneer says Amazon sellers can receive earnings from Amazon marketplaces into Payoneer by using receiving accounts in the currency of each store, such as USD for Amazon US, EUR for Amazon Germany and GBP for Amazon UK. Its standard receiving-account fees then apply.
Amazon's own help pages on accepted bank accounts and payment service providers were not readable when we checked, so confirm your deposit options inside Seller Central.
Direct clients
With direct clients you have more freedom. The cheapest request is usually "please pay my local account details" (Wise or Payoneer) by ACH in the US or a normal bank transfer in the UK or eurozone. Ask for a card payment or PayPal only when the client insists, and consider building the extra cost into your price.
Availability by country
Availability is where the "best" answer often changes. A great service is useless if you cannot open or fully use it where you live. Here is what the official pages say for the countries our readers ask about most.
| Country of residence | Wise | PayPal | Payoneer |
|---|---|---|---|
| United States | Can hold money (not if you live in Nevada); card available (not Nevada) | Full service; US fee pages apply | Available; 1.50 USD withdrawals up to 50,000 USD a month |
| United Kingdom | Can hold money; card available | Full service; UK fee pages apply | Available |
| EEA (for example Germany) | Can hold money; card available | Full service; local fee pages apply | Available |
| Canada | Can hold money; card available | Full service; Canada fee page (dated 2022) | Available |
| Australia | Can hold money; card available | Full service; Australia fee page applies | Available |
| Egypt | Not on list to hold money; recipients can receive EGP transfers | Egypt fee page exists; 4.0% regional conversion spread | Commonly used; confirm EGP withdrawal terms in your account |
| India | Can hold money only while travelling overseas; card not listed; recipients can receive INR | India fee page says only international payments are supported for India users (page dated 2021) | Confirm in your account |
| Pakistan | Not on list to hold money; recipients can receive PKR | We could not confirm account service on an official PayPal page | Payoneer describes PKR withdrawals via partner banks |
| Philippines | Can hold money; card available | Philippines fee page: PHP withdrawals free above 7,000 PHP | Confirm in your account |
| Nigeria | Not on list to hold money; recipients can receive NGN | Nigeria fee page lists withdrawals via a third-party provider at 2.0% + 1.50 USD | Confirm in your account |
Wise
Wise's help center says you can register from many countries, but holding money has a separate list of eligible countries. On that list are the US (except Nevada residents), the UK, the EEA, Canada, Australia, the Philippines and others. India is listed with a restriction: residents can hold money in their account when travelling overseas. Egypt, Pakistan and Nigeria are not on the list.
People in countries not on the list can often still receive money from Wise into a local bank account, because Wise pays out to many countries. That is why a US-based worker can use Wise to send money to family in Egypt or Pakistan, even though a freelancer living in those countries cannot hold money in Wise.
The Wise card is available to personal customers in Australia, Brazil, Canada, the EEA and Switzerland, Israel, Japan, Malaysia, New Zealand, the Philippines, Singapore, the UK and the US (except Nevada), according to Wise's help center.
PayPal
PayPal operates in many markets, but features differ by country. Some countries can send but have limited receiving or withdrawal options. Always open the fee page for your own country, which you can reach from the footer of PayPal's site. Several of these pages were updated recently (Egypt and the Philippines on September 28, 2026), while others show older dates (India May 31, 2021, Canada November 15, 2022).
Payoneer
Payoneer says you can link personal or business accounts in 190+ countries and territories, and that it cannot serve residents of certain countries because it follows US sanctions rules from the Office of Foreign Assets Control (OFAC). Its pricing page warns that fees can vary by territory. For a specific country, the fee section inside your Payoneer account is the reliable source.
Safety, regulation and protection
All three are regulated financial companies. None of them is a bank in the traditional sense for most customers, which affects how your money is protected. Here is what each says about regulation and what protection means in practice.
Regulation
Wise. Wise's help center says Wise Payments Limited is authorised as an Electronic Money Institution by the UK Financial Conduct Authority (FCA), registration number 900507. In the US, Wise US Inc. is registered with FinCEN and holds money transmitter licenses in many states. In the EU, Wise Europe SA is authorised by the National Bank of Belgium. In Canada, Wise Payments Canada Inc. is registered with FINTRAC as a Money Service Business. In Australia, Wise Australia Pty Ltd holds an Australian Financial Services Licence (AFSL 513764). In India, Wise entities are licensed by the Reserve Bank of India, and in the Philippines, Wise Pilipinas Inc. is licensed by the Bangko Sentral ng Pilipinas as a remittance and transfer company.
Wise says money you hold is safeguarded: kept in top-tier banks and assets separate from Wise's own working capital.
PayPal. PayPal's UK legal pages say PayPal UK Ltd is authorised and regulated by the FCA as an electronic money institution, with firm reference number 994790.
Payoneer. Payoneer says Payoneer Inc. is registered with FinCEN as a Money Service Business and is a licensed money transmitter in US states where a license is required. In Europe, Payoneer Europe Limited is an authorised e-money institution regulated by the Central Bank of Ireland. Payoneer also says its UK entity, Payoneer Payment Services UK Ltd, is authorised by the FCA as an Electronic Money Institution.
You can check any UK firm's status on the FCA Financial Services Register. Safeguarding is not the same as deposit insurance. If an e-money company fails, your money should be ring-fenced, but it is not covered in the same way as a bank deposit. Do not treat any of these accounts as a long-term savings account for large sums.
Buyer protection
PayPal is the only one of the three with a consumer purchase protection program. PayPal's US Purchase Protection page says it covers eligible purchases when an item does not arrive or is not what you ordered, and that you must open a dispute within 180 days of the payment. The program does not cover personal transfers between friends and family. On average, PayPal says claims are settled in 14 days, and terms and limitations apply.
Wise and Payoneer are transfer and account services. If you pay a seller with them and the seller disappears, you usually cannot claim your money back the way you could with PayPal Purchase Protection or a credit card chargeback. Our guide on disputing a credit card charge in the US and UK explains how card chargebacks work.
Seller protection
PayPal Seller Protection covers eligible sales against some claims, such as unauthorized payments and certain item-not-received claims. PayPal's US help page says that, for intangible items and services, you must meet integration requirements, provide evidence that the item was delivered or the service completed as described, and have paid transaction fees on the sale. It excludes items equivalent to cash, such as prepaid or gift cards, items prohibited by its Acceptable Use Policy, and claims that an item or service was significantly not as described.
For freelancers, that last exclusion matters. If a client says your work was not as described and wins the dispute, Seller Protection will not cover it. Clear contracts, written scopes and delivery records are your best defence.
US remittance rule
If you are a consumer in the US sending money abroad through a remittance transfer provider, the Consumer Financial Protection Bureau's remittance rule (Regulation E, Subpart B) gives you rights:
- Disclosures before you pay. The provider must show the amount transferred, fees and taxes, the exchange rate, and the amount the recipient will receive.
- Cancellation. You can cancel if your request reaches the provider no later than 30 minutes after you pay, and the refund must be made within three business days.
- Error resolution. You can report an error within 180 days of the disclosed date of availability. The provider must investigate and either refund you or deliver the funds at no extra cost.
These rules protect consumers sending personal remittances. They do not cover business payments such as a client paying a freelancer.
Account holds and limits
Holds and frozen accounts are the most common complaint about all three services. Knowing why they happen helps you avoid them.
PayPal holds
PayPal's business resource page says funds are "usually held for up to 21 days" when a hold applies. PayPal's help page lists common reasons: a new seller account, selling that has been dormant, several customer complaints or refund requests, unusual selling patterns such as a sudden jump in sales or a change in average price, higher-risk items like tickets, electronics, travel and gift cards, incomplete identity verification, and a goods-and-services payment that should have been a personal one.
To release a hold sooner, PayPal says you can add tracking from an approved carrier; for services or intangible items, you can mark the order as completed, and it releases the money 7 days later. Log in and use "Know your options" under your balance to see why money is held.
Wise checks
Wise's help center says it may temporarily restrict an account while it completes a routine check. It may ask for a clear photo of your ID, a selfie holding the ID and the reason you use Wise, including the purpose of your transfers. Replying quickly with clear, unexpired documents is the fastest way to resolve it. If an account is deactivated, Wise says you can appeal by replying to the email and, if needed, request a refund of your balance to an external bank account.
Payoneer blocks
Payoneer's help center lists reasons it blocks or closes accounts. These include inactivity when an account was never used, being under 18, residence in a country restricted under OFAC rules, names or ID numbers that do not match official documents, duplicate accounts, security breaches, and activity that breaches its terms. Payoneer says it may not disclose the specific reason for regulatory reasons.
How to avoid problems on all three
- Use your legal name exactly as it appears on your ID.
- Choose the right account type. Use a business account for freelance and sales income.
- Keep invoices, contracts and delivery proof for every client.
- Ask clients to put a clear reference on payments.
- Avoid sudden, unexplained jumps in volume on a new account. Grow gradually if you can.
- Do not accept payments on behalf of other people.
- Keep a backup method, so one frozen account does not stop your income.
Cards
A debit card lets you spend a foreign-currency balance without first withdrawing to your bank. The costs differ a lot.
| Card fee | Wise (US) | Wise (UK) | Payoneer |
|---|---|---|---|
| Order or annual fee | 9 USD to order; no subscription | 7 GBP to order; no subscription | 29.95 USD annual card fee; 12.95 USD replacement |
| Spending in the card's currency | Free | Free | Up to 1.8% (free where merchant country matches the card's issuing country) |
| Spending with conversion | Mid-market rate plus Wise's conversion fee | Mid-market rate plus Wise's conversion fee | Up to 3.5% |
| ATM withdrawals | Free up to 250 USD a month; then 1.95 USD + 1.95% per withdrawal | Free up to 250 GBP a month; then 2.69% | 3.15 USD (or 2.50 EUR, 1.95 GBP, 3.15 CAD) plus up to 1.8%, or up to 3.5% with conversion |
| Top-up of external e-wallets | 2% | 2% | Not listed |
Wise card availability. Personal customers in the countries listed in the availability section can get the card. Other countries can join a waitlist, according to Wise.
Payoneer card eligibility. Payoneer's FAQ says eligibility is based on receiving at least 100 USD into your account in the last six months, and this threshold may vary by country. Payments received through its Make a Payment service, from e-wallets or from internet payment service providers do not count. Cards may be unavailable in some countries because of licensing rules. Payoneer says you pay one periodic fee regardless of how many cards you hold. The separate 29.95 USD annual account fee on its pricing page applies only if the account receives less than 6,000 USD in any 12 consecutive months.
PayPal cards. PayPal offers debit cards in some markets, but we did not review their fees for this guide. If you mainly want to spend abroad, a card with no foreign transaction fee usually beats converting inside PayPal. Our guide to virtual cards for online payments covers other card options for online spending.
Which to choose by scenario
There is no single winner. Match the tool to the job.
You are a freelancer in the US, UK, EU, Canada or Australia with direct clients
Give clients your Wise account details in their currency. They pay by a normal local transfer, you receive for free in most major currencies, and you convert at the mid-market rate with a small fee. Keep PayPal as a backup for clients who will only pay that way, and price that in.
You sell physical goods online to consumers
PayPal is hard to avoid, because buyers trust it and its Seller Protection covers eligible sales with proof of delivery. To limit costs, avoid letting PayPal convert your balance. Where your country allows, withdraw in the same currency as your bank account, or move a foreign-currency balance to a cheaper conversion service.
You sell on Amazon or other marketplaces in several currencies
Payoneer and Wise both offer receiving details in the main marketplace currencies. Wise tends to be cheaper for conversion, but works for Amazon only as local payouts in each currency. Payoneer is built into many marketplaces and supports more countries of residence. Compare the total cost on your real monthly volume, including Payoneer's annual fee if you receive under 6,000 USD a year.
You are a freelancer in Egypt, Pakistan or Nigeria
Wise does not let residents of these countries hold money, so it cannot be your receiving account. Payoneer is the most widely used option for platform and client payouts. Check the EGP, PKR or NGN withdrawal rate in your account and compare it to the mid-market rate. PayPal availability and features differ by country; check your local fee page and what your account actually allows.
You are a freelancer in India or the Philippines
In the Philippines, Wise lets residents hold money and get a card, so Wise can work as a receiving and spending account. In India, Wise's help center says residents can hold money only while travelling overseas, so Payoneer, PayPal or a direct bank transfer are more common for receiving. Indian and Philippine recipients can receive money sent by Wise into local bank accounts, and in India also via UPI, according to Wise's help center.
You send money to family abroad
Wise is usually the cheapest of the three. PayPal's capped transfer fee looks small, but the 4% conversion spread on the US page usually makes it far more expensive for larger amounts. Payoneer is not designed for this. Also compare specialist remittance apps and your bank, because cash pickup or mobile wallet options may matter more than a small fee difference.
You are a student paying fees abroad
University fees are usually paid by bank transfer. Wise is often cheaper than a bank for the conversion. Check whether the university has its own payment partner first. Our guide on how to pay for studying abroad covers tuition, rent and everyday spending.
When none of them fits
Sometimes none of the three is the right answer. Here are common cases and what to consider instead.
- You live in a country none of them fully serves. A direct bank wire (Swift) from your client to your local bank may be the only option. Ask your bank about incoming wire fees and its exchange rate, and ask the client to choose the option where they pay their own bank's fees.
- Your client's accounts team only pays by bank wire. Wise can receive USD wires for 6.11 USD per payment. Payoneer receiving accounts also accept bank transfers.
- You need cash pickup for family. Remittance companies with agent networks may serve recipients without bank accounts better.
- You handle very large amounts. For large transfers, compare a bank or a currency broker. Wise also lowers its percentage fee on larger conversions, so get a quote for your real amount.
- You are asked to use crypto instead. Be careful. Unregulated payment routes are a common scam tactic. Read our guide on how to spot a crypto scam before agreeing.
FAQ
Is Wise cheaper than PayPal?
For converting currency, almost always. Wise converts at the mid-market rate with a visible fee, such as 0.33% for 1,000 USD to GBP on September 29, 2026. PayPal's fee pages list a 3% to 4% spread over its base rate for conversions, depending on the country and transaction. For receiving payments from buyers who want PayPal, Wise is not a substitute, because it is not a checkout service.
Is Payoneer cheaper than PayPal?
For freelancers receiving from clients or marketplaces and converting to local currency, Payoneer is usually cheaper. Its conversion fee between balances is 0.50%, and its withdrawal-with-conversion fee is 1.2% to 4%. PayPal adds a seller fee and an international fee on commercial payments, plus a 3% to 4% conversion spread. But Payoneer charges a 29.95 USD annual fee if you receive under 6,000 USD in 12 months, so low-volume users should do the math.
Wise vs Payoneer: which is better for freelancers?
If you live in a country where Wise lets you hold money, Wise is usually cheaper for converting and sending. Payoneer is better if you live in a country where Wise cannot hold money, or if your marketplace pays mainly through Payoneer. Many freelancers use Payoneer to receive and Wise to send or spend when both are available.
What is the cheapest way to receive international payments?
Usually, ask the payer to send a local bank transfer to local account details in their currency, such as Wise USD details by ACH or GBP details by UK bank transfer. Receiving these is free on Wise in the major currencies listed on its pricing page, and you then convert at the mid-market rate for a small fee. The most expensive routes are usually card payments and PayPal conversions.
Can I transfer money from PayPal to Wise?
Yes, in many countries. Wise's help center says you can link Wise account details or a Wise card to PayPal, and the account details must match your PayPal account's country, for example GBP details for a UK PayPal account. PayPal may charge extra fees. For freelance income, Wise says you should use a Wise Business account.
Why does PayPal hold my money?
Common reasons include a new or dormant seller account, customer complaints, unusual sales patterns, higher-risk items and incomplete verification. PayPal says holds usually last up to 21 days. Adding tracking or marking a service order as completed can release money sooner.
Does Payoneer charge a yearly fee?
Yes, 29.95 USD, but only if your account receives less than 6,000 USD or equivalent in any 12 consecutive months, according to Payoneer's pricing page. The page says it is not charged in the first year for paid annual plans.
Can I use Wise in Egypt, Pakistan or Nigeria?
Residents of these countries are not on Wise's list of countries where you can hold money. People in these countries can still receive money sent through Wise into a local bank account, and Wise publishes pricing for sending to EGP, PKR and NGN.
Is my money safe in Wise, PayPal or Payoneer?
All three are regulated. Wise and Payoneer describe safeguarding customer money separately from their own funds, and PayPal UK is an FCA-authorised electronic money institution. Safeguarding is not the same as bank deposit insurance, so it is sensible not to keep large long-term savings in any of them.
Bottom line
For moving and converting money, Wise is usually the cheapest of the three because it uses the mid-market rate and shows its fee. For getting paid by strangers and selling goods online, PayPal's reach and protection programs are worth something, but its seller fees and 3% to 4% conversion spreads make it the most expensive way to turn dollars into local currency. Payoneer sits in the middle on cost and wins on reach in countries and marketplaces where the other two are limited.
A practical setup for many freelancers is simple. Get paid in the client's currency by local bank transfer where possible. Hold the money until you need it. Convert with the cheapest available option, and compare its rate to the mid-market rate every time. Keep a second method ready in case one account is put on hold.
Fees change, and they differ by country. Before any large transfer, open the fee page for your own country and check the live quote.
This article is general information and not personalized financial advice.
Sources
All sources were accessed on September 29, 2026.
- Wise: pricing for receiving money (US)
- Wise: pricing for receiving money (UK)
- Wise: Business pricing (US)
- Wise: card fees (US)
- Wise: card fees (UK)
- Wise: pricing overview
- Wise: currency converter and live price quotes (USD to GBP, EUR, EGP, INR, PHP, PKR and NGN)
- Wise Help: fees and limits for receiving money
- Wise Help: where do I need to live to hold money with Wise
- Wise Help: can I get the Wise card in my country
- Wise Help: how Wise is regulated in each country and region
- Wise Help: how Wise keeps your money safe
- Wise Help: what to do if my account is restricted
- Wise Help: receiving money from PayPal with Wise
- Wise Help: receiving money from Upwork with Wise
- Wise Help: receiving money from Amazon with Wise
- PayPal US: consumer fees
- PayPal US: merchant fees
- PayPal UK: consumer fees
- PayPal UK: merchant fees
- PayPal Germany: merchant fees
- PayPal Canada: fees
- PayPal Australia: fees
- PayPal Egypt: fees
- PayPal India: fees
- PayPal Philippines: fees
- PayPal Nigeria: fees
- PayPal: why is your payment on hold (funds availability)
- PayPal Help: why is my payment on hold or unavailable
- PayPal US: Purchase Protection
- PayPal Help: what is PayPal Seller Protection
- PayPal UK: key payment and service information
- Payoneer: pricing
- Payoneer: withdraw funds to a local bank account
- Payoneer: get your Amazon seller payments
- Payoneer: money transmitter licenses
- Payoneer Help: account with card FAQ
- Payoneer Help: why was my account blocked or closed
- Upwork Help: Direct to Local Bank fees, limits and timing
- Upwork Help: Direct to U.S. Bank timing and fees
- Fiverr Help: withdrawing your earnings and managing payout methods
- CFPB: Regulation E 1005.31, remittance disclosures
- CFPB: Regulation E 1005.33, remittance error resolution
- CFPB: Regulation E 1005.34, remittance cancellation and refund
- FCA: Financial Services Register