Payoneer vs NETELLER: Which is Better for Online Payments?

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If you’re in need of a successful payments platform, it’s important to do a little legwork first. The more time you put into understanding the features of each system, the easier it is to compare them.

In this case, we’re looking at Payoneer vs NETELLER, including features, pros/cons, pricing, money transfers, multi-currency capabilities, and international payments.

Which is better for your online business? That all depends on what you’re looking for.

What is Payoneer?

​Payoneer was founded in 2005 and is based in New York. It’s a secure payment service specializing in global mass online payments from customers to ​freelancers, affiliates, and online sellers, including ​e-commerce​ companies.

Users can virtually track their account balance, payments, and full transaction history, including transaction fees and foreign currency amounts. Payoneer supports over 200 countries with 150 local currencies and is a worldwide Member Service Provider of Mastercard. 

Companies that use Payoneer include Airbnb, Google, Amazon, eBay, Rakuten, Adobe, Upwork, and Fiverr.

How Does Payoneer Work?

Payoneer gives a business the ability to send and receive funds domestically and internationally (including a local bank transfer), as well as withdraw funds with a debit card.

The payment platform connects companies with customers for e-commerce and online payments. Businesses can send direct payment requests or invoices to customers, who then have the option to pay online via a credit card or bank account. ​Account-holders can withdraw funds to their local bank account in local currency, or pay another Payoneer customer.  

Payoneer supports these currencies: 


Payment methods include an ACH ​bank debit (eCheck)​, local bank transfer, credit card/debit card, or a Payoneer account with a linked Payoneer Prepaid Mastercard.  

Pros of Payoneer

Payoneer offers unique, multi-currency bank accounts to facilitate international payments. The local currency accounts can be made in over 200 countries, in 35 different languages. Transfers are also free between Payoneer account holders, with over 4,000 active users worldwide.

The system also offers superb customer support with accounting integration and ecommerce capabilities. It’s a great money transfer service for online sellers and works much like a PayPal account does.

Cons of Payoneer

Unless both parties have a Payoneer account, fees can tend to run high. Additionally, although Payoneer has efficient security overall, they could stand to add more approval and fraud controls. The system also lacks dedicated account managers for smaller transfers and accounts.


NETELLER is a top Payoneer alternative and is owned by Paysafe Group, the same parent company as Skrill (a competitor in the money transfer and e-wallet industry). It’s a secure global digital wallet, online payment, money transfer, and cryptocurrency buying and selling company.

NETELLER handles merchant payouts, online gambling payouts, getting global client deposits to international brokers, payments to global suppliers, and payouts to affiliates. NETELLER and Skrill work together to allow fund transfers between a Skrill account and NETELLER Account e-wallet.

How Does NETELLER Work?

What is NETELLER used for? The system offers payments or withdrawals via bank transfer, member wires, money transfers, and merchant sites.

For instant free money transfers to a bank account or mobile money account (through Skrill), the sender needs a NETELLER Account, a Skrill Account, and the recipient’s email. The recipient doesn’t need a NETELLER account, but bank transfers can only be made to a personal bank account (not a business account).

Additionally, NETELLER lets customers instantly buy and sell many cryptocurrencies “more than 100 alternative payment methods and 28 currencies into Bitcoin, Bitcoin Cash, EOS, Ether, Ethereum Classic, Litecoin, XLM, XRP, and 0x”. 

The brand offers an annual VIP benefits program to users when they transact with merchants and buy/sell cryptocurrencies with their NETELLER wallet (used for payouts and pay-ins). VIP levels range from Bronze to Diamond for calendar year transactions between $10 thousand and $2 million. 


NETELLER enables a business to send free, instant cross-border payments to suppliers, vendors, employees, and affiliates. The online payment processing platform is a multi-currency solutions offering up to 22 different currencies, with instantaneous speed and low costs.

NETELLER features allow users to buy and sell cryptocurrencies and use these purchases (plus merchant transactions) to qualify for VIP benefits.  


Although free, NETELLER transfers can only be made to a recipient’s personal bank account, and not a business or merchant account. The brand also charges upload fees for funds from certain sources, including Skrill, Paysafecash, Paysafecard, and Bitcoin.

Receiving a NETELLER global bank transfer may take an extra day. For global bank transfers, NETELLER takes 3-5 business days vs. 2-5 business days for Payoneer.

Receiving CostIt’s free from another Payoneer account or 1% via ACH and 3% via credit card.Free with at least 1 transaction every 6 months.6 international payment methods – cost varies.
Sending CostIt’s free from another Payoneer account or 1% via ACH, 2% to another bank account, and 3% via credit card.Fees range from 1.45% – 2.99% for money transfers, 4.99% for international.Same as above.
Speed1-2 days3-5 days0-2 days
Mobile AppYes (ios and android)Yes (ios and android)No
Prepaid CardMastercard ($29.95/yr)Net+ Prepaid MastercardNo
International PaymentsPayoneer Local Currency Accounts in 200 countries.Pays to over 200 countries in 15 different languages.Pays to 196 countries.
TaxesHas a tax agreement with the IRS.No.There is built-in tax and VAT compliance.
Mass PaymentsAutomated batch-pay up to 200 at a time.Scalable payments in batches of hundreds.Global mass payables automation solution.
Business CapitalMerchant cash advance through Amazon and Walmart, up to $750,000.No.No.

Power your entire partner payouts operations


Customer Satisfaction


Annual Transactions






Customer Retention

Payoneer vs NETELLER Fees: Who Has Less?

Comparing the transfer fees of a global payment service is always tricky and can get complex. The payment solution really comes down to what you want to do with your account, the types of transactions you are making, how you want to transfer funds, and the volume of payments.

Money Transfers

NETELLER’s free instant money transfers (to a bank account or mobile money account) are made through its sister company Skrill, which is also owned by Paysafe Group. There are zero fees on International money transfers

Payoneer also charges a zero fee for money transfers, but the receiver must also be a Payoneer user. If the recipient doesn’t have an account, then the 2% over market rate (including currency conversion) fee for bank transfers applies. In some instances, Payoneer may charge a fixed fee instead.


Withdrawal Fees

NETELLER fees for a withdrawal will vary depending on the action. It will typically cost you: $10 for a bank transfer, $12.75 for a member wire transfer, $0 for merchant sites, or .45% of the transfer amount. There is also a minimum of $0.50 for a money transfer.

The cost for a withdrawal from Payoneer to a bank account in the same currency is $1.50 USD, € EUR, or £ 1.50 ​GPB, with some ​Payoneer​ restrictions.

For pay-ins, Payoneer charges fees up to 2% above the market rate (including the conversion fees for foreign exchange) at transaction time to withdraw money to a customer’s local bank account. High earners get lower fees. Bank processing fees, landing fees, or intermediary fees may be charged by a bank.

Winner: Payoneer

Receiving Payment

For NETELLER users, receiving payment from vendors and other entities is totally free, as long as you’re using a personal bank account.

For receiving payments, Payoneer charges 1% per ​U.S. ACH​ or local bank transfer or 3% by credit card in all currencies. Fund recipients can get paid in a receiving account from another Payoneer customer for free. Marketplaces and networks set their fee rates for receiving payments.


Foreign Exchange

For global bank transfers, NETELLER charges a 4.99% foreign exchange rate (FX) if the customer’s bank account is in a currency other than U.S. dollars (USD).

Payoneer applies a cross-border fee of up to 3.5%. The currency conversion fee applies when the transaction currency is not the same as that of your card. For example, if you use your USD card to pay a restaurant bill in the Spain.

Winner: Payoneer


When comparing ​NETELLER​ vs Payoneer​, ​both provide good solutions, including global cross-border payments.

NETELLER wins on cost and local transfer speed, with free instant cross-border money transfers through Skrill. Payoneer may have a slight edge on the speed of international cross-border bank transfers, which take 2-5 business days for Payoneer and 3-5 business days for NETELLER. 

Your ultimate decision will be based on your business needs. A small business may be more inclined to go with NETELLER due to the lack of fees, whereas a larger company might be more comfortable with Payoneer, who offers faster global transfers, with discounts for higher earners.

Another smart option to consider is Tipalti global mass payments automation software. Tipalti automates the entire payables, approvals, and payments process to streamline workflows and save up to 80% of your time.

The platform lets you close the books sooner each month and at year-end. Tipalti payables and payments automation solution effortlessly provides supplier self-service onboarding, validation, tax compliance, fraud controls, and a reduction in erroneous payments. It’s the perfect alternative to both Payoneer and NETELLER.

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