What is the comparison between Payoneer and Wise in terms of money transfer services?

Payoneer and Wise (formerly known as TransferWise) are both renowned platforms for international money transfers. Payoneer is often favored by freelancers and businesses for its extensive network in over 200 countries and multiple currency support. It also offers a prepaid MasterCard, allowing easy access to your funds. However, Payoneer’s fees can be high, especially for currency conversion. On the other hand, Wise is known for its transparency and low-cost transfers. It uses the mid-market exchange rate and charges a small, upfront fee. However, Wise doesn’t support as many countries as Payoneer and doesn’t offer a prepaid card in all markets. The choice between the two largely depends on your specific needs and the countries you’re dealing with.