What are the differences between Payoneer and Wise in terms of fees?

Payoneer and Wise (formerly TransferWise) are both popular platforms for international money transfers, but they differ significantly in their fee structures. Payoneer charges a flat fee of $3 for a local bank transfer and $15 for a USD swift transfer. They also charge a 2% loading fee. On the other hand, Wise charges a small percentage of the total amount being transferred, which varies depending on the currencies involved and the payment method. For example, a bank transfer from USD to EUR would cost around 0.6% of the amount that’s converted. Additionally, Wise has a transparent pricing policy, meaning you can see exactly how much you’re paying in fees before you make the transfer. In contrast, Payoneer’s fees can be harder to calculate upfront. Therefore, depending on the specifics of your transfer, one may be cheaper than the other.