Cheaper alternatives to Payoneer
Wise Business, Airwallex, Mercury, and Xflow are cheaper alternatives to Payoneer for receiving international payments.
- Wise Business: Known for low-cost multi-currency holding and transfers at the true mid-market exchange rate with no hidden markup. Fees range from 0.33% to 2%.
- Airwallex: Suitable for high-volume freelancers and small agencies needing global business accounts, expense tools, and low conversion fees (~0.3% to 1%).
- Mercury: Ideal for founders with a US business entity, offering free US banking, free wire transfers, and lower overall cash management fees.
- Xflow: Recognized for transparent cross-border FX and automatic compliance documentation, specifically built for international receivables.
- Skydo: An RBI-authorised cross-border payments platform for Indian freelancers, exporters and small businesses. It lets them receive payments from international clients into their Indian bank account.