Payoneer offers your business a multi-currency account to pay and get paid globally, as easily as you can locally. This all-in-one account gives you everything you need to get paid by your international clients and global marketplaces, pay your suppliers, and invest in growing your business.
- Global access.
- Low fees.
- Withdraw your earnings locally.
- Pay your global suppliers. contractors and business expenses.
- Licensed and regulated by multiple government regulators.
- Get paid in multiple currencies.
- High card transaction fees.
- It adds a currency conversion charge of 2% for international transactions.
- It also charges an annual fee for the usage of Mastercard.
Wise isn't a bank in the US but a money transfer operator that's well-known for offering some of the cheapest international transfers globally. However, in addition to money transfers, Wise also offers a Multi-Currency Account, a low-cost foreign currency spending account, and a Visa debit card.
Even without a US residence, the Wise Account gives you US checking details.
- A debit card to spend in 50+ currencies, including US dollars.
- You can use this account to get paid by employers in US dollars. - Send money domestically within the US.
- The Wise debit card is accepted worldwide.
- Local bank details are not just in the US, but also in the UK, EU, Australia, New Zealand, Singapore, Romania, Canada, and Hungary.
- The fee to receive wire transfers (domestic and international) is $7.50 per transaction.
- Incoming payments can only be in US dollars, no other currency will be accepted.
- Incoming domestic transfers take 2 to 3 working days to arrive in the account, while international transfers take 4 to 5 days.
- You can't yet set up a direct debit.