Paypal vs Payoneer – Which One Helped Me Save Some Extra Money

Do you work remotely or you usually receive overseas payments? Many Freelancers receive payments from their foreign clients by using payment methods like PayPal, Payoneer and Direct Bank transfer. But most of them have a common question in their mind that which payment method is the best and will help them to save some extra $$.

In this article, I will share my personal experience that which Payment method helped me to save some extra money from the payment which I was receiving from my clients. Means we will compare PayPal vs Payoneer charges in detail.

You can clearly see in this image that my client has sent me an amount of $722 and PayPal has deducted their fee of $37.84 and Now I have $684.16 in my PayPal account which I can transfer to my bank. But you will be wondered to know that PayPal will charge some currency conversion fee for USD to INR conversion.

After some days I transferred my $684 to my bank account. On that day dollar conversion rate was near about $68. so I should receive an approximate Rs 46,500 in my bank account but I received only Rs 45,019 in my bank account. Which means instead of paying me a conversion rate of Rs 68 for 1 USD, PayPal gave me Rs 65.90.

So if I will receive the same amount throughout the year then I need to pay approximate amount of Rs 36,000 to paypal. Which is a huge amount for a freelancer and startup business.

Which means PayPal charged me Paypal Fee and Currency Conversion Fee.


I started Payoneer in 2017 and I am still using it to receive my overseas payments.

The first benefit of Payoneer is that you will get free $25 in your Payoneer account. Which you can transfer to your bank account once you will receive a minimum amount of $1000 in your Payoneer account. So if you will receive $1000 for your payment. Then you will have $1025 in your Payoneer account which you can transfer to your Bank account.

If you want to get these free $25 in your Payoneer account then Click below button to Signup for Payoneer account.

Now I will show you how much Payoneer charged me for the payment I received from my client. So that you will be able to know more about Payoneer transfer fees in detail.

In the above image, you can see that client has transferred me $850 to my Payoneer account and Payoneer transferred me the same $850 to my bank account. Which means Payoneer haven’t changed my anything for the payment which I have received.

Now let see how much money Payoneer has transferred to my Bank account:

In this image, you can see that Payoneer has given the conversion rate of Rs 68.63 for 1 USD and on that day actual conversion rate was Rs 69.96 for 1 USD.

This means Payoneer has charged me just Rs 1.33 for 1 USD. On the other side, Paypal deducted my $37 from $722 as their fees and they charged me near about Rs 2.1 conversion amount for 1 USD as well.


From the above-written article, we can see that PayPal has charged me Rs 3997 from the transaction of $722 and on another side Payoneer just charged me just Rs 1076 on my transaction of $850. Which means If I will receive $722 each month then on an average PayPal will charge Rs 47,964 for 1 year. Which I think is a good amount for a freelancer and startup.

So with my personal experience, I would say that Payoneer is better than PayPal because it saves so much money. And if your client is ready to send you payment via Payoneer then you should switch to Payoneer right away.

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