Which is a better option for money transfers: Payoneer or Wise?

Choosing between Payoneer and Wise (formerly TransferWise) largely depends on your specific needs as both offer unique advantages. Payoneer is a great choice if you are a freelancer or a professional who receives payments from international clients. It offers a prepaid Mastercard, which you can use worldwide. However, its fees can be higher compared to Wise. On the other hand, Wise is known for its transparency and low fees. It uses the real exchange rate (the mid-market rate) for currency conversion, which can save you a lot of money on international transfers. However, it doesn’t offer a prepaid card in all countries. Therefore, if you prioritize lower fees and transparency, Wise might be a better choice. But if you need a prepaid card and receive payments from international clients, Payoneer could be more suitable.