TransferWise is an international payment service that supports over 750 currency routes worldwide, including GBP, USD, EUR, AUD and CAD, and provides multi-currency accounts. TransferWise was established in 2011 and authorized by the UK Financial Conduct Authority (FCA) for electronic money transactions.
Personal and corporate accounts. TransferWise for business is suitable for everyone: both for freelancers or sole traders and large enterprises. When filling in the company’s information, the system will inform you whether it supports business clients from your region. You manage your account via online banking. There are no requirements to average monthly balance on your account.
Fees and tariffs
No fee for opening an account. No fee for account maintenance. Fee for incoming payments — 0.
Fee for outgoing payments — fixed, depending on the amount and currency of the transfer.
Please find the detailed information on tariffs on the website of the payment service.
Advantages of TransferWise
- high speed of money transfers;
- automatic conversion to any currency;
- making purchases and any other financial transactions anywhere in the world;
- favourable fees;
- free registration of private accounts.
Payoneer is an international payment platform which provides financial services and processes online money transfers. It is licensed in the USA, EU, Hong Kong, Japan, Australia, India and has 21 offices and more than 1500 employees worldwide. Currently, this payment platform has more than 4 million users. It is possible to open accounts in 10 currencies, including USD, EUR, and GBP.
Personal and corporate accounts are available. There are no restrictions on jurisdictions to open the account, on types of companies’ activity and the amounts of incoming and outgoing payments. The account is managed through online banking. There are no requirements for the account’s minimum average monthly balance.
Fees and tariffs
No account opening fee is charged. No account maintenance fee is charged.
The fee for incoming payments is 0. The fee up to 2% is charged for outgoing payments to a company’s bank account or beneficiary.
The detailed information on tariffs is provided on the website of the payment platform.
Advantages of Payoneer
- Favourable tariffs;
- Free opening of personal accounts;
- Opportunity to receive payments from foreign clients and companies directly;
- Favourable USD exchange rates for conversion to national currencies;
- Multilingual support team.