Wise vs Payoneer for Businesses: Complete 2025 Comparison Guide
Need a business account and card for multi-currency holding and payments? Maybe you’re torn between Wise and Payoneer. Wise has broad appeal with 40+ supported currencies with mid-market rate currency exchange, while Payoneer can be a good pick for businesses looking to take credit card payments or access working capital. But which is best for your specific needs?
This guide walks through the services that Wise and Payoneer offer for business customers in Australia, to help you decide, including a comparison of the features and fees you can get with each service. We’ll look at the way each works for international transfers, how to receive and hold foreign currency balances, and the linked payment cards on offer.
Quick summary: Wise vs Payoneer for businesses
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- Wise and Payoneer both offer multi-currency accounts for businesses, with linked cards for payments and withdrawals
- Both Wise and Payoneer come with local account information you can use to get paid by clients in foreign currencies conveniently
- Neither provider has a monthly account fee, but both have some transaction fees depending on how you use your account
- Wise and Payoneer each offer some standout features – Wise has 40+ supported currencies and mid-market exchange rates, while Payoneer is popular with businesses taking credit card payments
Side by side: Differences between Wise vs Payoneer for businesses
Wise and Payoneer are both available to customers based in Australia, but while they’re somewhat similar in their scope, there are some important differences. We’ll explore this in more depth throughout this guide – first, a features overview:
| Feature | Wise Business | Payoneer Business |
|---|---|---|
| Send payments to | 140+ countries, 40+ currencies | Broad range of supported countries and currencies |
| Multi-currency accounts | Available to hold 40+ currencies | Available to manage more than 8 currencies |
| Local bank account details | Available for 8+ currencies | Available for more than 8 currencies |
| Take credit card payments for your business | N | Y |
| Debit and expense cards available | Y | Y |
| Batch payments | Y | Y |
| Fully licensed and regulated | Y | Y |
| Working capital available | N | Y |
So, to summarise:
- Wise has a multi-currency account and cards to support 40+ currencies – Payoneer accounts support more than 8 currencies
- Wise accounts come with bank details to get paid in 8+ currencies, Payoneer offers 9 different currency receiving account details
- Payoneer has specific ways to receive customer payments using a credit card, Wise does not
- Payoneer offers working capital to customers, Wise does not
- Both providers are fully regulated by the relevant authorities where they offer services
The important bits: Which is better for international businesses?
If you’re looking for a digital account service for your business, the costs, features and reliability are key. Here’s a head to head comparison of Wise vs Payoneer on these important factors.
| Wise | Payoneer | |
|---|---|---|
| Rates | Wise exchange rate: Mid-market exchange rate with no markup | Wholesale rate + 0.5% currency conversion charge |
| Fees for international transfer | Low fees, varies by destination – from 0.63% | Up to 3% of the transaction amount when sending to a bank account |
| Speed for international transfer | 60%+ of transfers are instant (completed under 20 seconds), 80+ are delivered in less than 1hour* | 2 – 5 business days when sending to a bank account |
| Service | Online, in app and by phone | Online, in app and by phone |
| Licencing | Fully regulated and licensed | Fully regulated and licensed |
| Reviews (TrustPilot) | Trustpilot score: 4.3/5,Excellent rating, from 263,000+ reviews | Trustpilot score: 3.8/5, Great rating, from 59,000+ reviews |
*Details correct at time of research – 15th July 2025 *The speed of transaction claims depends on individual circumstances and may not be available for all transactions
Rates: Wise uses the mid-market rate, Payoneer charges 0.5% for currency conversion
Fees: Both providers have variable fees for international transfer which are based on the destination country and payment type. Payoneer costs can also vary depending on how often you use your account
Speed: 60%+ of Wise transfers are instant (completed under 20 seconds), 80%+ are delivered in less than 1 hour. Payoneer transfers usually take 2 – 5 business days when sending to a bank account
Service: Both providers offer multilingual service in a range of languages, online, in-app and by phone
Safety: Both providers are fully licensed and regulated.
Reviews: Wise has an Excellent rating and Payoneer scores a Great review rating on Trustpilot – Wise has far more ratings registered
Pros and cons: Wise vs Payoneer for businesses?
| Wise Business | Payoneer Business |
|---|---|
| ✅Hold and exchange 40+ currencies ✅ No ongoing fees ✅ Get a linked card for spending in 150+ countries ✅ Mid-market exchange rates ✅ Receive payments in 8+currencies with local details |
✅No fee to open an account ✅ Some transfers to other Payoneer customers are free ✅ Get paid by clients using their credit card ✅ Local receiving account details for more than 8 currencies ✅ Popular business provider, also offering working capital solutions |
| ❌ Transaction and currency conversion fees apply ❌ No cash or cheque payments supported |
❌ No personal account services ❌ Fees are complicated and can vary based on factors including the volume of transactions you process |
The verdict: Which is better for business Wise or Payoneer?
If you’re looking for a business account both Wise and Payoneer could be a good fit depending on how you need to transact.
- Wise has a greater span in terms of supported holding currencies, and the fees are low and transparent. You need to pay a one time fee to open a business account, but there’s then no ongoing cost – and lots of nice extras like batch payments and cloud accounting integrations.
- Payoneer has no account opening fee and also allows customers to pay with a credit card, which is handy if you’re an online seller for example. However, the currencies supported for receiving and exchange are limited and the fees can be on the high side – with the added complexity that some costs vary based on how often you transact.
Compare both to see which works better for you – and read on for plenty more about Wise vs Payoneer features, fees and accessibility.
About Wise for business
Wise was founded as TransferWise in 2011, and offers personal and business accounts to hold and manage 40+ currencies, accept payments and spend using a linked Wise debit card. You can also send money to 140+ countries with the mid-market exchange rate and low, transparent fees. As well as business services, Wise supports personal accounts in many countries globally.
About Payoneer for business
Payoneer was founded in 2005, and offers business account services and solutions, including working capital, with a focus on digital businesses around the world. Account services are available in 190+ countries, although features do vary – and you can send money in 70+ currencies.
Wise vs Payoneer fees for businesses accounts
Wise fees may vary slightly depending on whether you’re a personal or business customer, but they’re usually pretty straightforward and set out in the app or online for transparency. Payoneer fees can vary a bit depending on how you use your account, and are usually expressed in USD.
Here’s a rundown of some of the most important Wise vs Payoneer fees – there many be other costs involved with using your account so do check the terms and conditions carefully before you sign up:
| Service | Wise Business | Payoneer Business |
|---|---|---|
| Open an account | 65 AUD | No fee – a 29.95 USD account dormancy fee applies if you don’t use your account for 12 months |
| Order a card | No fee for first card, 6 AUD for additional cards | 29.95 USD annual fee for the first card ordered |
| Spend with your card | No fee to spend currencies you hold
Currency conversion from 0.63% when you don’t hold the right balance |
No fee to spend currencies supported by your card
Foreign transaction fee up to 3.5% plus potential cross-border fee up to 1.8% when you don’t hold the right balance |
| ATM withdrawals | 2 withdrawals a month, to the value of 350 AUD free – 1.5 AUD + 1.75% after that | 3.15 USD – fees may vary depending on the currency |
| Receive a payment | Free to receive payments in 8+ currencies using local bank details
Small fees for receiving SWIFT payments and USD wires |
Free to receive payments in some major currencies using local bank details
Up to 1% fee to receive USD |
| Send a payment | From 0.63% | Up to 3% |
| Currency conversion | Mid-market exchange rate + fees from 0.63% | 0.5% |
*Details correct at time of research – 15th July 2025
Wise vs Payoneer exchange rates for business accounts
- Wise conversion rates: mid-market exchange rate with variable fees from 0.63%
- Payoneer conversion rates: wholesale rate + 0.5% fee
Wise uses the mid-market exchange rate for currency conversion, and splits out any costs which apply, which can vary depending on the transaction you’re making and the currencies involved. This is easy to read and understand, and lets you compare Wise to other providers so you can pick the right way to arrange your transfer.
Payoneer uses wholesale exchange rates to convert currencies in your account, and then adds a 0.5% fee. If you’re sending a transfer out of your account and need currency conversion, this fee still applies, but may be wrapped up into the transfer cost which you’re quoted, which can be up to 3%.
Wise vs Payoneer for international business payments
Sending an international payment to a supplier or contractor? Payoneer and Wise both offer local and international payments, but their fee structure is quite different. The delivery speed you get might vary significantly, too.
Which is cheaper for international payments?
If you’re sending from Wise to Wise, or from Payoneer to Payoneer, and no currency conversion is needed, there may be no fee to pay. However, costs apply if you’re sending to a bank account, including potential currency conversion fees and transfer charges.
Both providers show you the fee you’ll pay for your transfer before you confirm it in the app or online. Here’s a quick look at the headlines:
| Service | Wise | Payoneer |
|---|---|---|
| Currency exchange | Mid-market exchange rate | Wholesale rate + 0.5% conversion fee |
| Transfer fee | Low, transparent fees from 0.63% | Up to 3% fee based on destination |
*Details correct at time of research – 15th July 2025
Which is faster for international payments
- Wise transfer speed: 60%+ of Wise transfers are instant (completed under 20 seconds), 80%+ are delivered in less than 1 hour
- Payoneer transfer speed: Payoneer transfers usually take 2 – 5 business days when sending to a bank account
Ultimately the length of time it takes for a payment to be delivered can vary based on a range of factors including the country and currency, value of the transfer and any holidays in the destination country.
Wise vs Payoneer for receiving money
Both Wise and Payoneer offer ways to receive customer payments conveniently. You can get local account details with either provider for foreign currencies, which means your customer can pay with a local transfer in their preferred currency and you can receive the amount without having to convert it back to AUD. Wise also offers a very broad range of ways to get paid in foreign currencies through SWIFT, while Payoneer sports USD SWIFT payments only.
Here’s a summary:
| Feature | Wise | Payoneer |
|---|---|---|
| Currencies with local account details | 8+ | 8 |
| Currencies with SWIFT account details | 20+ | USD only |
| Fee to receive with local account details | No fee | 0% – 1% |
| Fee to receive with SWIFT account details | Low fees, set by currency | 20 USD – 40 USD, paid to third party providers |
*Details correct at time of research – 15th July 2025
Wise vs Payoneer cards for businesses
Wise has international debit cards for business customers, with no order fee in Australia for the first card issued, and no ongoing charges. Payoneer offers cards for account holders, which have some costs associated – here’s a summary of some of the key features of both option:
| Wise Business card | Payoneer Business card |
|---|---|
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Wise vs Payoneer card: Where can you use them?
Both the Wise card and the Payoneer card can be used wherever the issuing network is supported. Keep an eye out for the card network logo wherever you are – usually Visa or Mastercard, which are both very broadly supported internationally.
Wise vs Payoneer limits
Both providers have limits that apply to their business account, which are used to protect customers and comply with the law. Here’s a summary:
| Limit type | Wise limits | Payoneer limits |
|---|---|---|
| Holding limit | Often no limit applies to the amount you can hold | Any applicable limits are shown in the app |
| International payment limit | Limits are usually around 1 million GBP or the currency equivalent – some payment methods have lower limits, which you’ll see in the app or online when you set up a transfer | Periodic limits apply which you’ll be notified of in the app when you set up a transfer |
| ATM withdrawal limit | Limits are shown in the app | Limits are shown in the app |
How do they work?
With Wise you can register an account online or in the Wise app, to hold, send or receive payments. You can also order a card for easy spending and withdrawals. When it comes to international transfers, Wise works by supporting payments to bank accounts and Wise accounts in many countries, with currency conversion using the mid-market rate where needed.
Wise to Wise transfers are free, and for bank deposits, Wise doesn’t use the SWIFT network – which is usually relied on by banks. Instead, it has built its own network of bank accounts globally to make transfers cheaper and faster.
Payoneer also offers online and in-app onboarding and registration, and lets customers send payments to other Payoneer accounts or to banks. Transfers to Payoneer accounts can be free if there’s no currency conversion, but sending to a bank will involve a fee and take a day or two.
Wise vs Payoneer: Payment methods
If you want to use Wise to send an international transfer, or if you’re topping up your account yourself, you can choose from:
- Pay by bank transfer
- Pay by debit/credit card
- Pay by PayID
- Pay by sending money from your balance
- Pay by Real-Time Gross Settlement (RTGS)
In Australia, Payoneer customers can send transfers using their Payoneer account balance.
Integrations
Both Wise and Payoneer offer a range of integrations that let you manage your business in a more efficient way. Wise has integrations with cloud accounting services like Xero, for example, while Payoneer has integrations with many ecommerce and marketplace platforms. The range of integrations offered is growing all the time, so do compare the options available on the provider’s website before you decide which will suit you best.
Safety and security
Wise and Payoneer are both safe and fully regulated providers. Both have a range of tools and processes in place to protect customers. Here are a few key pointers.
Regulation
In Australia, Wise is regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence (AFSL)). As a global company Wise is also overseen by a selection of bodies all around the world.
Payoneer holds multi-jurisdictional licences issued in a selection of countries and regions including the US, EU, UK and Australia.
Security features
Both Wise and Payoneer use strong digital security measures on all accounts and transfers, with robust security and anti-fraud measures in place. Your account must be verified when you set it up, and your data is securely stored. If you ever have any issues with your account you can get instant help through the providers’ in app chat functions.
Wise vs Payoneer customer service
The easiest way to get support for both Wise and Payoneer is to log into your account online or in the provider app and start a chat. Both providers have multi-lingual support options, and by logging in through your account you can get a personal service as the support team can see your account or transaction information if required.
Conclusion: Comparing Wise Business and Payoneer Business
Wise and Payoneer have some similar features – but not all their services overlap, so it’s worth comparing them based on your specific needs.
Both serve entrepreneurs, freelancers and business owners with multi-currency accounts and cards. However, the accounts do have their own features and fees so comparing your options is essential.
Wise accounts support more currencies for holding and exchange, and have low and transparent fees which make it easy to see what your transactions are costing you every time. On the other hand Payoneer offers different perks like ways to take credit card payments from customers, and working capital solutions – which may suit different customer needs.
FAQs: Wise vs Payoneer for international businesses
What is the difference between Wise Business and Payoneer Business?
Wise and Payoneer are different providers with their own features and customer niches. Wise has account and card services for business customers with mid-market exchange rates and transparent fees, while Payoneer focuses on accounts and cards which are great for taking customer online and card payments. Which is best for you depends on the type of account you need and how you’ll transact.
Is Wise or Payoneer cheaper?
Both Wise and Payoneer have their own fees which vary based on the services you need. For international transfers to bank accounts, Wise fees start from 0.63%, with no exchange rate markups. Payoneer has a 0.5% currency conversion charge, and up to 3% in transfer fees.
Is Wise or Payoneer faster?
With Wise 60%+ of transfers are instant (completed under 20 seconds), 80%+ are delivered in less than 1 hour. Payoneer transfers to other Payoneer accounts can be fast, but sending to a bank account can take several days.
How many currencies do Wise and Payoneer support?
Wise accounts can hold 40+ currencies and offer local or SWIFT details for 8+ currencies. Payoneer accounts can hold up to more than 8 currencies for general use and receive local payments in more than 8 currencies.
Which is better between Wise and Payoneer?
Neither Wise or Payoneer is better – they’re both different and will suit different customer needs. If you’re looking for a business account, compare both – Wise has more supported currencies and low, transparent fees – while Payoneer offers extras like working capital and ways to receive credit card payments. The right one for you depends on your priorities.
