- User Rating
- Transfer Type
- Regular Payments
- Mobile App
- Min Transfer Amount
- Travel Debit Card
- Global Bank Accounts
If you are not sure about using the services of Payoneer or Revolut for your next international money transfer, you are not alone. However, choosing between the two is easier said than done. This is because while both offer highly reliable services, their offerings vary to suit different requirements. For instance, Payoneer tends to serve as a better alternative for online sellers with international customers.
Side by Side
|Payoneer||Revolut||Offices in the U.S., the UK, Spain, Israel, India, the Philippines, Hong Kong, and Japan||Offices in several countries outside of the UK|
|Lets you transfer only to other Payoneer accounts||Transfers directly to bank accounts|
|Currency conversion charge of 2% to 2.75% applies in some regions||Carries out transfers using existing interbank rates|
|Pay no fees to make payments||Transfer fees of 0.5% apply if you cross the monthly threshold of £5,000|
|Charges a monthly fee||Account keeping fees varies according to the type of account you select|
|Receiving accounts in GBP, EUR, USD, CAD, MXN, AUD, CNY, and JPY||Receiving accounts in GBP and EUR; hold funds in 29 other currencies|
|Lets you transact in around 150 countries and send money to over 200 countries||Supports transfers in over 130 currencies|
|Sign up as an individual, a business, or an online seller||Sign up as an individual or a business|
|Provides only spot transfers||Provides spot transfers and recurring transfers|
Trustpilot, a review-based website, gives you easy means to check where the Revolut vs. Payoneer comparison stands in the real world. On this platform, Payoneer averages at 9.2 out of 10, whereas Revolut gets an average of 7.7 out of 10. Relying on this aspect alone to make a decision, though, is not the best way forward.
Selecting Revolut or Payoneer for your next overseas money transfer requires that you take these factors into account:
- Exchange Rates
- Multi-Currency Bank Accounts
- Debit/Travel Cards
- Ease of Use
- Regular Overseas Payments
Compare Money Transfer Fees
Your decision to work with Payoneer or Revolut might depend on this factor, especially if you do not plan to transfer too much money.
- Sending money overseas to other Payoneer users is fee-free.
- When you receive payments in USD, GBP, or EUR from other Payoneer users, you pay no fees.
- Withdrawing money from a Payoneer account into a local bank account attracts fees, which vary according to the currencies involved.
- Transactions made using the prepaid Mastercard in un-listed currencies attract currency conversion fees of up to 2.5%.
- Online sellers may receive fee-free payments in GBP, EUR, CAD, AUD, CNY, and JPY.
- Receiving payments in the USD receiving account attracts up to 1% as fees.
- You may view the company’s pricing system online.
- Transfers of up to £5000/€5000 per month come with no fees.
- If you send more than the fee-free limit, you will need to pay 0.5% as fair usage fees.
- Premium and Metal users get unlimited fee-free transfers.
- Premium membership comes at €7.99 per month, and Metal membership costs €13.99 per month.
- Standard members need to pay an additional fee for turbo transfers.
- The company’s fee structure is available online.
No matter whether you select Payoneer or Revolut, you may look forward to accessing funds in your account by using a prepaid card.
- Depending on your country of residence, you may qualify to apply for a Payoneer Mastercard
- The card attracts an annual fee
- You may need to pay fees when using your card at ATMs
- Currency conversion fees might apply
- Spending and withdrawal limits may apply
- You get to choose from standard, premium, and metal plans
- Fee-free ATM withdrawals depend on the account you select
- Exchange fees also depend on the type of account you hold
- Premium and metal plan holders get instant access to up to five cryptocurrencies
- Premium and metal plan holders get different types of insurance cover
- If you opt for the metal plan, an annual maximum spending limit of £30,000 or its equivalent in another currency applies
- You may use your metal card to spend up to £5,000 or its equivalent in another currency in a 96-hour period
- Cash withdrawals from ATMs limit to a maximum of £2,000 or its equivalent in another currency per day
Ease of Use
If your need extends to beyond making an overseas money transfer, pay close attention to this section in deciding if you should select Revolut or Payoneer.
- Individuals may receive international fund transfers only from other Payoneer users.
- Transferred funds first come to your Payoneer account, which you then need to withdraw into your local bank account.
- Online sellers and businesses may benefit by using free receiving accounts in USD, CAD, GBP, EUR, JPY, AUD, and CNY.
- The company accepts payments via credit cards and bank account transfers.
- If you live in the United States, you may pay via an eCheck.
- Some of the languages in which you may use the Payoneer website include English, French, Spanish, German, Russian, Portuguese, Polish, Italian, Vietnamese, and Indonesian.
- The company provides a prepaid Mastercard that gives you easy access to the money in your account.
- You may use the company’s apps with devices that run on iOS or Android.
- You may transfer money only through the Revolut app, available for Android and iOS.
- Access to the app comes in languages such as English, Spanish, French, German, Polish, Romanian, and Lithuanian.
- The company accepts payments via bank account transfers, debit cards, credit cards, Google Pay, and Apple Pay.
- If you wish to transfer money quickly, you can opt for a turbo transfer.
- The company provides free receiving accounts in GBP and EUR.
- It lets you hold funds in as many as 25 currencies.
- You can use the Revolut vault to save money over the long run.
- You may use the prepaid Metal card to access funds in your account in more than 150 currencies at interbank rates.
- The company lets you exchange, buy, and hold different cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and XRP.
Regular Overseas Payments
This section of the Revolut vs. Payoneer comparison tilts the scale in favor of the former. While setting up scheduled transfers through Revolut is fairly straightforward, Payoneer does not provide this service yet.
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