Payoneer or PayPal?

Hey there,

How’s it going. I would like to know what are the pros and cons for Payoneer and PayPal.
We know ThemeForest won’t take fee for the PayPal withdraw, but I’m wondering if I would receive a fee on PayPal for withdrawing $1000 USD in example?

Best regards,

For that amount, I suggest you to get an USD account in a bank and use SWIFT
Approx. 35-40$ you’d be loosing but at least you will have $ in your account.

There may be no fee for both but while you’re transferring the money, you cannot receive in USD but the exchange rates are not so good

For example at the moment:
PayPal : 1 USD = 23,871 CZK
My Bank : 1 USD = 24,573 CZK

Payoneer’s exchange rates even worse. If you have to, use PayPal

I never used Payoneer but I wrote a small blog post about SWIFT and PayPal here.

Normally there are fees for PayPal only for the conversion rate.

If I withdraw $1000 via Paypal, then I get $1000 in my Paypal account. There are currency conversion fees when I want to convert that to something else, but no fees for me to receive it.

It’s probably because either you’re living in USA or in a country that the local currency in USD
Otherwise, not possible. If you claim, it’s, I’d like to know your secret :slight_smile:

You can get away with only $2.50 fee per $500 withdrawal (the limit for card withdrawal) IF you have a bank account in USD and your bank can issue a credit card for your USD bank account. If you can, contact PayPal support and they will change the withdrawing currency for your card from your local currency to USD (this works only for credit card withdrawals, not for direct bank withdrawals).

PayPal of course, Payoneer is used only if it’s only option.

I have a GBP account, but I can hold balances in GBP, USD and EUR. Possibly more, but I’ve never been.paid in any other currency.

It is a business account though, not sure if that makes a difference.

I do have CZK, USD, EUR, GBP balance as well but the issue is whenever I want to withdrawal, automatically, PayPal converts the money to CZK. Like in your case it probably converts to GBP when you want to withdraw

I will get a CC connected to my USD account and will test it.

Absolutely, but as some kind of currency conversion fee is inevitable whoever you use, we’re always going to get hit with it at some point. The good thing about PayPal not converting it as soon as it hits your account, is that you can pay for stuff through PayPal in dollars without any fees… and you can also wait until the rate is more favourable to convert.

Not necessarily, as I said, if you have an USD Visa credit card you can withdraw with no currency conversion. Just make sure your bank can emit credit cards for bank accounts in USD.

But then you’ve got two issues…

  1. Is a CZK ATM likely to contain US Dollars?

  2. Even if it does, where would be spend those US Dollars.

If you mean using a USD card to withdraw CZK, then there’s got to be a currency conversion charge, as you’re converting those dollars into something else.

Yes, but the ATM exchange rates are usually as good as the exchange rates get and way better than the PayPal exchange rates.

Let me clear that. If you transfer the USD to Visa CC connected to USD account, you should be able to get the money from the bank as in USD, right? ( not from ATM )

I’m using payoneer because it has smaller fees compared to paypal.

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Been using Payoneer for more than 2 years.
Absolutely no issues with it.
The fees are lower and the money arrives faster in my bank account.


The only reason for me to use Payoneer is that it charge way less than PayPal. PayPal is charging more than 4% on each transaction.

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