As a freelancer or an exporter, getting paid on time is the most crucial aspect of your business. Wise (earlier known as TransferWise) is one of the most reliable and popular platforms for receiving international transfers from cross-border clients. But what about affordability? Are Wise transfer charges affordable for your business?

In this blog post, we break down Wise transfer charges using practical examples and provide a clear overview of how Wise works for receiving international money transfers. Our aim is to help you understand the costs and features so you can choose the best option for your needs.

Wise Transfer Charges: What do you need to know about them?

Wise takes pride in its transparency, ensuring no hidden fees are included in its pricing. But what are the different components of its transparent fees? Let's find out:&nbsp;&nbsp;

Mid-market exchange rate +&nbsp; Conversion fee

Wise considers the<a href="https://wise.com/in/mid-market-rate?no_follow=true"> mid-market exchange rate</a> to convert the value of currency. It is derived as the mid-point of the rate at which bankers are ready to buy and sell a currency. The mid-market exchange rate is real, and fair, and helps you get paid without getting stuck in the quagmire of exchange rate movements.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Wise charges 1.7%-1.8% of the transaction amount in Wise fees. For a payment of $10,000, Wise charges $161.99 as Wise fees.

e-FIRC charges (varies across currencies).

e-FIRC is an abbreviation for Electronic Foreign Inward Remittance Certificate. With every transfer, Wise sends you a digital FIRA, which they call an e-FIRC. The charges for e-FIRC is there equivalent if $2.50/FIRA. For example, if you receive $1,000 from the US, the e-FIRC charges will be $2.50. For receiving €1000, the e-FIRC charges are €2.24.

Along with the above charges, additional fees could be applied to the total cost. These miscellaneous charges are due to the nature of the transaction or bank fees. For example, if you receive $1,000 from a client in the US through a Wire transfer, the Wise fees will be $28.94 – $6 more compared to a Wise account transfer. In the wire transfer payment method, the money is credited to your bank account. Because there are more participating financial institutions, the transfer fee increases marginally.

You can open an account in Wise free of charge, but all the above charges are applicable while making a transfer.

The duration of a Wise payment transfer depends on several factors. These factors include currency conversion (which usually takes up to two business days), the country you're sending money to and from, payment method, security checks, and public holidays and banking hours. Overall, Wise Transfer can take anywhere between&nbsp;<a href="https://wise.com/help/articles/2978029/how-long-does-it-take-to-receive-money-into-a-balance?no_follow=true">&nbsp;1-5 business days</a>.&nbsp;

Wise Transfer Charges: How much do I need to pay to receive global payments in India

With Wise, you can accept payment in international currencies. However, Wise money transfer charges are variable fees, that is they are not fixed and depend on the currency.&nbsp;

Don’t worry we won’t leave you hanging there. We have come up with two examples, using different foreign currencies. This example explains how the charges will differ and the net amount you can expect to receive from the currency transfers.&nbsp; 

Wise Fees for Receiving USD 5000 In India

We used <a href="https://wise.com/in/business/receive-money">Wise’s Transfer Fees calculator </a>to determine the total Wise transfer fee for receiving $5000 in India and the total amount you can expect.&nbsp;

Total fees: $82.7+ $2.5+ $15.34 = $100.54

Total amount to be converted: $5000-$100.54 = $4899.46

Current mid-market exchange rate: 83.5106

You get: 4899.46 X 83.5106= INR 409,156.84

Wise Fees for Receiving Euro 5000 In India

How does the calculation change when a client transfers the same amount albeit in a different currency from Europe? Let’s find out by switching the US Dollar to Euro.

Wise offers two payment methods for receiving payment from European clients: low-cost transfer and Wise account transfer. However, the fees are the same for both methods.

Total fees: €89.9+ €2.24 + €16.59 = €108.73

Total amount to be converted: €5000-€108.73 = €4891.27

Current mid-market exchange rate: 93.2861

You get: 4891.27 X 93.2861 = INR 456,287.50

Receiving global payments with Wise vs Skydo: Comparing Wise transfer fees with Skydo

Skydo is a great alternative for receiving payment in international currencies in India. You can create an account for free and all the transfer charges are shared with you upfront – no hidden costs.

Skydo charges a flat fee of $19 for transferring up to $2,000 and $29 for payments between $2,001 and $10,001. Moreover, it offers international virtual accounts meaning your clients can transfer money to your account directly like they’re making a local transfer.

Let’s quickly compare Wise and Skydo to find out how much fees each platform charges for receiving the same amount of money in US Dollars.

From the above calculation, it’s clear that Skydo offers better value than Wise and is the least expensive option to receive international transfers. You save $168 in total fees which means an extra income of INR. 14,000.&nbsp;

If you want to get the best value for currency exchange and switch from traditional bank transfer to a more modern, transparent platform, create a free account with Skydo or book a demo with us. 

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Wise Transfer Charges in India

Wise (formerly TransferWise) is a popular global platform known for its ease of use and intuitive interface, making it straightforward for individuals and businesses to manage international payments.

However, while Wise offers a convenient solution, it’s worth considering whether there are even more affordable and seamless ways to receive payments from abroad, especially if you’re looking to maximise your earnings and reduce hidden costs.

In this guide, we’ll explore how Wise works and also compare alternative options to help you choose the best fit for your needs.

What is Wise (Formerly TransferWise India)? Brief overview&nbsp;

Wise enables peer-to-peer and business-to-business money transfers worldwide. Initially, the Wise platform was a peer-to-peer (P2P) solution only that allowed individuals to send or receive money directly without intermediaries (like banks or credit card companies).&nbsp;

Later, Wise expanded into a business-to-business (B2B) payments solution, processing multi-currency transactions between enterprises.

Wise applies a mid-market foreign exchange rate without levying any forex markup. It charges a conversion fee that differs from country to country. For significant currencies like USD, EUR, GBP, and AUD, the conversion fee is approximately <a href="https://exiap.com.in/guides/wise-fees">1.78%</a> of the transfer value.&nbsp;

If a client sends you $10,000 from the US to India through Wise, you will receive around ₹833,825.&nbsp;In this transaction, Wise will consider the mid-market exchange rate without any markup, which would be INR 85.033&nbsp;(as of 28th April 2025). However, it will levy a Wise fee of USD&nbsp;194.15&nbsp;along&nbsp;with FIRA fee of USD 2.50, bringing the total to USD 164.49 (excluding GST). In a nutshell, to receive a payment of USD 10,000 via Wise, you would need to pay a fee of&nbsp;USD 164.49 (excluding GST).

What are the Key Features of Wise (Formerly TransferWise India)?

Let us now assess the key features of Wise transfer:&nbsp;

Wise’s P2P transfer feature enables individuals to transfer and receive money from friends, family, and clients residing abroad. Recipients don’t need to maintain a Wise account to receive P2P payments. They can directly receive the payment in their bank accounts.&nbsp;&nbsp;&nbsp;

The key benefits of the P2P transfer include:&nbsp;

Wise P2P transfers are fast. <a href="https://exiap.com.in/guides/how-does-wise-work">50%</a> of these transfers are instant, and 80% of transfers are completed within 24 hours

Note that using Wise's p2p offering for business payment is not ideal, as Wise p2p doesn't offer FIRA, making compliance difficult&nbsp;

Wise offers a comprehensive B2B payment solution with multi-currency accounts for businesses to hold and manage over 50 currencies. This feature is particularly useful for companies with global clientele, assisting them in receiving payments like a local entity.&nbsp;

By providing local bank details in various currencies (such as GBP, EUR, and AUD), Wise eliminates the need for multiple bank accounts across different countries. Wise B2B platform also provides a batch payment feature, helping businesses simultaneously send bulk payments to other recipients.&nbsp;

Wise offers API integration capabilities for companies looking to streamline their financial operations. This feature allows for automating payment processes, significantly reducing the administrative burden of managing international transactions.

Wise multi-currency virtual accounts feature allows individuals and businesses to convert amounts between multiple currencies when engaging in international transactions. Since you can hold and manage multiple currencies, you don’t need to maintain multiple bank accounts in different locations.&nbsp; A single user can manage over <a href="https://wise.com/gb/blog/manage-currencies-in-one-account#:~:text=Holding%20multiple%20currencies,more%20ways%20to%20pay%20you.">40 different</a> currencies in their Wise account.&nbsp;

The Wise debit card is a convenient solution for businesses, travellers, or shoppers who often purchase products online from international brands. However, note that Wise debit card facility is currently not available in India

To ease compliance, Wise also offers digital FIRA to Indian businesses and freelancers for every international payment. However, it charges an eFIRC fee for the same, which varies across currencies. For example, for USD payments, Wise (formerly TransferWise India) charges USD 2.50 for digital FIRA.&nbsp;

Yes, Wise transfers are allowed in India. It is a trusted financial service provider approved by the Reserve Bank of India (RBI). However, there are some specific regulations and conditions regarding sending and receiving INR that you should know. You can find the regulations <a href="https://wise.com/help/articles/2932151/guide-to-inr-transfers">right here</a>.&nbsp;

Additionally, the following Wise services are unavailable in India:&nbsp;

Wise (Formerly TransferWise India) Fees: All You Need to Know&nbsp;

Here’s a quick breakdown of Wise fees for receiving money from abroad as an Indian business:&nbsp;

TransferWise India Review: The Good, Bad and The Ugly&nbsp;

Here’s how Wise customers rated the solution on different platforms like <a href="https://www.g2.com/products/wise-business/reviews#reviews">G2</a>, <a href="https://www.capterra.in/reviews/1016836/wise">Capterra</a> and <a href="https://www.trustpilot.com/review/wise.com">Trustpilot</a>:

<a href="https://www.trustpilot.com/review/wise.com">Source</a>

<a href="https://www.g2.com/products/wise-business/reviews/wise-business-review-7417435">Source</a>

<a href="https://www.g2.com/products/wise-business/reviews/wise-business-review-8362373">Source</a>

<a href="https://www.capterra.in/reviews/1016836/wise">Source</a>

Please note: These insights are based on user reviews gathered from public platforms and do not reflect Skydo’s opinions.

Wise (Formerly TransferWise India) Alternatives to Note&nbsp;

If you’re looking for<a href="ttps://www.skydo.com/blog/top_5_wise_alternatives_for_international_payment#skydo"> Wise alternatives</a> to receive international payments in India, some of the most widely used platforms include PayPal, Payoneer, and Skydo.

PayPal and Payoneer are both established options, each with its own pricing structures and features. PayPal operates with a transaction fee, a flat charge per payment, and a currency conversion component, while Payoneer applies a percentage-based forex markup and an annual fee in case of account inactivity.

Skydo takes a different approach by offering a flat fee based on the transfer amount and using live forex rates without any additional markup. It also provides virtual international bank accounts and instant FIRA (Foreign Inward Remittance Advice) for every transaction, making compliance straightforward for Indian users.

It’s a good idea to review the details and consider which solution best fits your payment needs and business preferences.

To explore Skydo,<a href="https://www.skydo.com/">&nbsp;sign-up</a> today!

Wise (Formerly TransferWise India) Review: Features, Benefits, Pros & Cons

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Founded in New York in 2005, Payoneer is a leading global payments platform that facilitates international money transfers in over 70 currencies. It offers virtual local accounts, multiple payment options, along with digital FIRA to ease compliance for Indian businesses.&nbsp;

While Payoneer is a go-to for many, its fees and customer support have not met everyone's expectations. If you're looking for an international payment solution, it’s wise to consider a few alternatives that might better suit your needs. Let's start with Payoneer Vs PayPal.&nbsp;

Payoneer Vs Paypal: Understanding the Differences

In our discussion on Payoneer Vs PayPal, let's start with PayPal. As we’ve discussed, <a href="https://www.skydo.com/blog/payoneer-payment-gateway-features-fees" target="_blank">Payoneer payment Gateway</a> is a leading platform for businesses to send and receive international payments. Let’s take a quick look at some of its key features, pricing and areas of concern.

Opening a Payoneer account is free, but there are <a href="https://www.payoneer.com/en-in/about/pricing/">charges associated</a> with receiving and withdrawing payments. Let's understand their fee structure: Account Setup: Opening a Payoneer account is free, but fees apply for transactions and withdrawals.

Via credit card: 3.2% + $0.49 per transaction

Payments through virtual accounts: Free for EUR and GBP, up to 1% for USD

Withdrawals to a local bank account will incur up to a 3% fee if the currency differs. For example, if you get paid in USD and you want to withdraw it in your INR account in India, a fee of upto 3% will apply

Extra charges like bank processing or intermediary fees may apply.

Annual Fee: $29.95 annually if you receive less than $2,000 in total payments over 12 months.

In a nutshell, as an exporter, if you are receiving and withdrawing international payments via Payoneer, the following fees will apply:

Credit Card Payment: 3.2% + $0.49 per transaction + 3% withdrawal fee

ACH Bank Debit: 1% Transaction Fee + 3% withdrawal fee

Virtual Bank Account: 1% for USD + 3% Forex withdrawal fee

Businesses often choose Payoneer for its convenience and platform integrations, though some users have noted<a href="https://www.g2.com/products/payoneer/reviews?utf8=%E2%9C%93&amp;filters%5Bsentiment_snippet%5D=495449"> challenges with customer support</a> and<a href="https://www.g2.com/products/payoneer/reviews?utf8=%E2%9C%93&amp;order=g2_default&amp;filters%5Bsentiment_snippet%5D=495041"> currency conversion rates</a>.&nbsp;

Next on the debate on Payoneer Vs PayPal, let's now talk about <a href="https://www.skydo.com/blog/paypal-in-india-charges-review-alternatives">Paypal</a>. It is a leading financial services company, and its credibility, coupled with global reach, makes it a top choice for receiving international payments in India. The platform supports over 100 currencies and offers various payment methods, including credit and debit card payments and subscription models.&nbsp;

The following are the<a href="https://www.skydo.com/blog/paypal-in-india-charges-review-alternatives" target="_blank"> PayPal fees associated with receiving international payments in India via Paypal</a>

Transaction Fee: PayPal charges a<a href="https://www.paypal.com/in/webapps/mpp/merchant-fees?no_follow=true"> 4.40% transfer fee</a> on international business payments. For instance, receiving USD 1000 from a US client results in a USD 44 deduction.

Fixed Fee: <a href="https://www.paypal.com/in/webapps/mpp/merchant-fees?no_follow=true">A fixed fee, </a>depending on the currency, is also applied alongside the transaction fee.&nbsp;

Currency Conversion Fee: PayPal adds a<a href="https://www.paypal.com/in/webapps/mpp/merchant-fees?no_follow=true"> 4% currency conversion fee </a>to the prevailing exchange rate when converting foreign currency to local currency, which means you'll receive a lower exchange rate than the market rate.

In summary, as an exporter, you'll need to pay the following fees to receive international payments through PayPal:

4.40% transaction fee+ Fixed fee (approx&nbsp;0.30 USD)+&nbsp;4% currency conversion fee.&nbsp;

<a href="https://www.skydo.com/blog/paypal-in-india-charges-review-alternatives" target="_blank">PayPal’s </a>ease of use and credibility make it a crowd favourite for managing cross-border payments, but its significantly pricing can make it an expensive option for many, especially for smaller businesses.&nbsp;

Here’s a quick snapshot of Payoneer Vs Paypal along with Skydo, for a better understanding:

Deciding which platform is better isn’t straightforward, as both have distinct strengths. Payoneer offers lower fees for receiving international payments, and offers multiple marketplace integration while PayPal is renowned for its global credibility and widespread acceptance. Assess your specific needs to determine which platform aligns best with your business requirements.

Skydo: A Solid India-Based&nbsp; Alternative to PayPal And Payoneer

Skydo makes getting paid from international clients feel a lot less complicated. You get virtual accounts in major markets like the US, UK, Singapore, and Australia,&nbsp; and once the payment comes in, it’s usually in your Indian bank account within 24 hours.

Our pricing structure is simple, and it adapts with your growing business needs:

What really makes a difference, though? You always know where your money is. With real-time tracking and helpful reminders, you’re never in the dark. Plus, Skydo gives you the live forex rate (no hidden <a href="https://www.skydo.com/blog/forex-markup-fee-explained">forex markup fee)</a> and your FIRA instantly, so you stay compliant without the usual back and forth.

Add to that a 5-minute setup and a support team that’s actually based in India, and it’s easy to see why more businesses are switching. If you’re looking for a smoother, more transparent way to handle international payments, Skydo could be a great fit.

Payoneer vs PayPal vs Wise & more : Which Is Right for You?

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As an Indian business or freelancer earning globally, managing international payments can be a significant challenge. That’s where platforms like Payoneer step in. Payoneer is a global payment platform that facilitates sending and receiving international payments in over 70 currencies. In this article, we’ll explore Payoneer's fees and charges to help you understand the costs involved in receiving international payments in India through Payoneer.

Payoneer Fees India: What you need to know

In India, professionals and businesses can effortlessly make a payment request and receive international payments via Payoneer. With Payoneer, clients can pay you online<a href="https://www.skydo.com/blog/payoneer-payment-gateway-features-fees" target="_blank"> through various methods</a>, including credit cards, ACH bank debits (US only), and global virtual accounts. You can then withdraw these funds directly into your local bank account.

Additionally, Payoneer offers an enterprise solution that enables businesses to make <a href="https://www1.payoneer.com/in/enterprise/?no_follow=true">mass international payouts</a> efficiently.

While opening a Payoneer account is free, many of these services come with associated fees. Let’s take a closer look at Payoneer fee information for sending, receiving, and withdrawing international payments.

Payoneer is a popular platform for businesses in the US and around the world to send cross-border payments. The platform offers multiple payment options for your clients, including credit cards and bank transfers. Let's break down the pricing associated with each payment method:

Payoneer to Payoneer Payments: Payments made between Payoneer accounts are free. If both you and your client use Payoneer, opting for this method can help you avoid transaction costs.&nbsp;

Credit Card: If a client pays you via credit card, an additional 3.2%+&nbsp;$0.49 Payoneer fee on the transaction amount will be applied.

ACH Bank Debit: This option is available only in the US. If your US client pays you via ACH bank debit, you'll incur an additional 1% as Payoneer fees.

Wire Transfer: Your clients can also make SWIFT/Wire transfers via Payoneer. However, please note that direct bank payments may incur a SWIFT fee of USD 20-40. This fee is typically charged by third-party banks before the payment reaches Payoneer, so it isn’t categorized as Payoneer fees.

Local Virtual Accounts: If your clients pay through <a href="https://www.skydo.com/blog/virtual-account-numbers" target="_blank">local virtual accounts</a>, there are no additional Payoneer fees for EUR, GBP etc, but for USD, 1% fee will apply

Once you receive payment in your Payoneer receiving account, you can withdraw it to your local bank account. However, be aware that Payoneer fees apply depending on the currency in which you withdraw the payment. Let’s break down these fees:

This typically applies to international payments. If you withdraw funds in a different currency, a<a href="https://www1.payoneer.com/in/about/fees/?no_follow=true">&nbsp;3% forex markup </a>will be applied. For example, if you receive an international payment in USD and withdraw it in your local currency, say, INR, you’ll receive INR 82.32 instead of INR 84 at the prevailing exchange rate.

Additional fees, such as bank processing, landing, or intermediary fees, may also be deducted if applicable.&nbsp;

Payoneer charges an <a href="https://www1.payoneer.com/in/about/fees/?no_follow=true">annual fee of $29.95 </a>if your account has received less than USD 2000 or equivalent payment in 12 months.

Opening a Payoneer account doesn't come with any registration fee and the platform also offers certain free services like Payoneer to Payoneer transfers. But please note that all the Payoneer fees mentioned above also apply in India.

Payoneer Charges India: How much do I need to pay to receive global payments?

To get a better understanding of Payoneer fees, let’s try to understand how the fee works through certain hypothetical examples.

Payoneer Fees for receiving and Withdrawing USD 8000 via virtual account:

Imagine you receive a payment of USD 8,000 from your client through your virtual account and want to withdraw it in INR. Let’s see the Payoneer fees associated with receiving and withdrawing the same:

Exchange Rate: INR 84 (Approximately as of 19th August 2024)

USD 8000 at live FX rate= 8000*84= INR 672000

Payoneer Fees for withdrawing payment in different currencies: 3% forex markup

Therefore, the effective exchange rate = INR 81.48&nbsp;

USD 8000 at the effective forex rate = &nbsp;8000*82.32 = INR&nbsp;651,840

Payoneer Fees = INR (672,000- 651,840) = INR&nbsp;20,160&nbsp;

So, for your USD 8,000 payment, you'll actually receive INR 651,840. The remaining INR&nbsp;20,160&nbsp;&nbsp;will be deducted as Payoneer fees.

Payoneer Fees for Receiving and Withdrawing USD 8000 via Credit Card

Amount in INR at Live FX Rate: 8000 × 84 = INR 672,000

Total Payoneer Fees (USD): 256 + 0.49 = USD 256.49

Payment Post Deduction (USD): 8000 - 256.49 = USD 7743.51

Forex Markup for Withdrawing in a Different Currency:

Effective Exchange Rate: 84 × (1 - 0.03) = 81.48

Amount in INR at Effective FX Rate: 7743.51 × 81.48 = INR 630,941.19

Final Amount Received in INR: INR 630,941.19

Total Payoneer Fees Deducted: INR 41,058.81

Payoneer Fees Reviews: What people are saying

People seem to have mixed feelings when it comes to Payoneer’s fees. On one hand, many users like how simple and reliable the platform is for receiving international payments. On the other hand, some do feel that the fees, especially the forex markup and transaction charges,&nbsp;<a href="https://www.g2.com/products/payoneer/reviews/payoneer-review-7918141%5C?no_follow=true" target="_blank">can be a bit high</a><a href="https://www.g2.com/products/payoneer/reviews/payoneer-review-7918141%5C?no_follow=true">&nbsp;over time.</a>

A few folks have pointed out that n<a href="https://www.g2.com/products/payoneer/reviews/payoneer-review-7698854?no_follow=true">early every action on the platform comes with a cost</a>, which can feel a little frustrating. Others still value how easy it is to use and the fact that it works well with marketplaces like Fiverr and Upwork. Like most tools, it really comes down to what matters most to you—convenience or cost.

Receiving International payments with Payoneer vs Skydo

We took a close look at Payoneer’s fees for receiving international payments in various scenarios. Now, let’s see how much it would cost to receive the same payment through one of its substitutes, Skydo.

Like Payoneer, Skydo offers international virtual accounts, allowing your clients to pay via these accounts like local bank transfers. However, Skydo operates on a flat fee model: we charge USD 19 for payments up to USD 2,000, and USD 29 for payments between USD 2,001 and USD 10,000. What’s more, Skydo converts your payment at the <a href="https://www.skydo.com/blog/how-much-forex-fees-do-you-pay-on-global-transactions">live Forex rate </a>with no added markup or currency conversion fees. So, if the current rate is USD 1 = INR 84, that’s exactly what you’ll get. Plus, opening and maintaining your Skydo account is completely free.

So, let’s consider receiving a payment of USD 8,000. With Skydo, you’ll only pay a flat fee of USD 29, which equals INR 2,436 at the INR 84 exchange rate. This means you’ll receive INR 669,564 for your USD 8,000 payment.

In contrast, with Payoneer, you would receive INR&nbsp;651,840 after deducting INR&nbsp;20,160 in fees. By choosing Skydo, you save INR 17,724 on the same transaction.

So switch to Skydo today and save more while getting paid!

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Payoneer Fees: All you need to know

The landscape of cross-border payments and global business has transformed dramatically in recent years. Traditional banking methods are now being challenged by innovative solutions and new entrants, like Payoneer offering a bunch of financial services. This article explores Payoneer Payment Gateway, delving into its features, fees, and user reviews to provide a comprehensive overview of this modern cross-border payment solution.

Founded in New York in 2005, Payoneer is a global payments platform that enables businesses to send and receive international payments in over 70 currencies. It offers <a href="https://www1.payoneer.com/in/solutions/global-payment-service/?no_follow=true">multi-currency virtual accounts</a> in the US, EU, UK, Japan, Australia, Mexico, and China, along with flexible payment modes like bank transfers and credit/ debit card payments.

In India, businesses can request and receive global payments through Payoneer Payment Gateway. The platform also offers free <a href="https://www.skydo.com/blog/all-you-need-to-know-about-firc-a-complete-guide">digital FIRAs </a>for international payments, streamlining compliance.&nbsp;Ordinarily, payments made via local bank transfer or wire transfer/ SWIFT payments take approximately<a href="https://payoneer.custhelp.com/app/answers/detail/a_id/33930/~/what-is-the-status-of-my-payment%3F-%28receiving-accounts%29?no_follow=true"> three business days</a> to reach the payee's account.

With the exponential rise of global commerce, Payoneer has integrated with various online marketplaces like Airbnb, Getty Images, and Fiverr, helping businesses expand their customer base, access the global market and receive payments from these platforms. However, some users have reported issues with these integrations.&nbsp;For instance, this user seems to be dissatisfied with <a href="https://www.g2.com/products/toptal/reviews/toptal-review-8662387">Payoneer’s integration with Toptal</a>.&nbsp;

Additionally, Payoneer offers enterprise solutions, including <a href="https://www1.payoneer.com/in/enterprise/?no_follow=true">mass payouts and API support </a>for automating and managing payments, making it a versatile choice for global transactions.

As we have already discussed Payoneer Payment Gateway is available in India both for businesses and freelancers to request and receive global payments. Its enterprise offering also provides businesses with global mass payout solutions. However, note that the Payoneer card is not currently available in India. 

Payoneer is licensed and regulated by multiple government authorities, including the OPGSP framework in India&nbsp;and is generally considered safe for use.&nbsp;

Like any global platform handling financial transactions, Payoneer occasionally sees user-reported security concerns. For example, earlier this year, some users in Argentina flagged u<a href="https://therecord.media/financial-platform-payoneer-account-hacks-phishing?no_follow=true">nusual activity in their accounts.</a> Others have shared isolated experiences of <a href="https://www.g2.com/products/payoneer/reviews/payoneer-review-9064277?no_follow=true">account holds</a> or <a href="https://www.g2.com/products/payoneer/reviews/payoneer-review-9723605?no_follow=true">unexpected logouts.</a>

While these instances can understandably cause concern, it's worth noting that Payoneer continues to invest in strengthening its security systems. The platform is actively working to enhance fraud detection and protect user accounts, something that’s increasingly important in today’s digital payment landscape.

Creating a Payoneer account is free. Here’s how you do it:

Verify Your Email: Before finishing, check your inbox for a verification email from Payoneer and follow the instructions to confirm your email address.

Opening a Payoneer account is free, but sending, receiving, and withdrawing payments involves <a href="https://www.skydo.com/blog/payoneer-fees-india-guide">various fees</a>. Here’s a breakdown:

Once you receive payment in your Payoneer account, you can withdraw it to your local bank account. However, be aware that Payoneer fees apply depending on the currency of your account.

A 3<a href="https://www1.payoneer.com/in/about/fees/?no_follow=true">% forex markup</a> is applied if you withdraw in a different currency. For example, if the payment was made in USD and you withdraw in INR i.e. your local currency, you’ll receive INR&nbsp;81.48 instead of INR 84 at the prevailing exchange rate.

Payoneer charges $29.95 annually if your account has received less than USD 2000 or equivalent in payments in 12 months.

Understanding these fees can help you make informed decisions when using Payoneer for your transactions.

For a detailed breakdown of Payoneer Fees, click <a href="https://www.skydo.com/blog/payoneer-fees-india-guide">here</a>

Payoneer Reviews: Customer Care, Usability and Fees

With over 5 million customers, Payoneer is undoubtedly a safe and trusted platform for cross-border payments. Let’s take a look at some Payoneer reviews to gauge the opinion of users on various aspects of Payoneer Payment Gateway.&nbsp;

Many users appreciate Payoneer for its <a href="https://www.g2.com/products/payoneer/reviews?utf8=%E2%9C%93&amp;order=g2_default&amp;filters%5Bsentiment_snippet%5D=495052?no_follow=true">ease of use</a> and smooth transactions. Its user-friendly interface and integrations with platforms like Airbnb, Getty Images, and Fiverr make it a popular choice for businesses and freelancers to handle international payments.

Some users have shared that their experience with P<a href="https://www.g2.com/products/payoneer/reviews?utf8=%E2%9C%93&amp;filters%5Bsentiment_snippet%5D=495449?no_follow=true">ayoneer’s customer support could be improved.</a> In particular, a few have mentioned that it can sometimes take time to get clear answers or resolutions. There have also been occasional reports of accounts being temporarily placed on hold, which can understandably be stressful, especially when users aren’t given a heads-up.

That said, experiences vary widely, and many users continue to rely on Payoneer for their cross-border payment needs.

While some are impressed by Payoneer’s low fees, others find it steep, particularly for small businesses.&nbsp;

Payoneer Payment Gateway alternatives to take note of

While Payoneer is a well-established name in cross-border payments, some users have <a href="https://www.skydo.com/blog/payoneer-alternatives-international-payments-india">explored alternatives</a> due to concerns around customer support and associated fees.&nbsp;

<a href="https://www.skydo.com/blog/paypal-in-india-charges-review-alternatives">PayPal</a> is a popular alternative and a prominent name in global finance. It offers cross-border payment services, but unlike Payoneer, it doesn’t provide multicurrency virtual accounts, making international payments more costly. Although PayPal’s ease of use and credibility make it a solid Payoneer alternative, many users look for more <a href="https://www.skydo.com/blog/top-paypal-india-alternatives-for-international-payment">affordable options</a> to receive global payments.

Skydo emerges as another strong alternative, offering a fast, secure, and cost-effective solution for businesses to receive cross-border payments in India. With its flat fee structure, dedicated customer support and seamless onboarding, Skydo has become a go-to choice for companies and freelancers to manage their global payments. Additionally, platforms like Wise and Stripe are also viable substitutes to Payoneer for receiving international payments&nbsp;

Choosing the right payment partner for your business is crucial. Issues like the lack of FIRA, forex markups, and currency conversion fees can make international transactions costly and inconvenient.

That’s why make sure to compare and analyse, user experience, pricing, support and compliance provisions and seek professional advice before selecting your international payment provider.&nbsp;

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Payoneer Payment Gateway Features Fees

EEFC account is a well-known term for exporters receiving international payments. EEFC account full form is Exchange Earners Foreign Currency.

Growing Global

Understanding Global Payments blogs