Revolut vs Payoneer: Which is Better?
Revolut and Payoneer are two popular financial services that cater to different types of users. Revolut is a digital banking alternative that provides multi-currency accounts, international transfers, and even stock/crypto trading. Payoneer, on the other hand, is mainly used for cross-border payments, helping freelancers, businesses, and e-commerce sellers receive payments globally.
1. Key Differences: Revolut vs Payoneer
| Feature | Revolut | Payoneer |
|---|---|---|
| Best for | Personal banking & currency exchange | Freelancers & global payments |
| Banking License | No (E-money license) | No (Payment service provider) |
| FSCS Protection | No | No |
| Multi-Currency Support | Yes (30+ currencies) | Yes (50+ currencies) |
| International Transfers | Yes (Low-cost) | Yes (High fees) |
| Crypto & Stock Trading | Yes | No |
| Business Accounts | Yes | Yes |
| Card Availability | Yes (Debit & Metal cards) | Yes (Prepaid Mastercard) |
| ATM Withdrawals | Free up to £200/month, then 2% fee | Yes (Fees apply) |
| E-commerce & Merchant Support | No | Yes |
| Receiving Payments from Companies | No | Yes (Amazon, Fiverr, Upwork, etc.) |
| Integration with Marketplaces | No | Yes (Amazon, eBay, Upwork, Fiverr, etc.) |
2. Features Breakdown
🔹 International Money Transfers
- Revolut provides international transfers at real exchange rates, with no markup.
- Payoneer charges higher fees (2-3% conversion + transfer fees).
🏆 Winner: Revolut (for cheaper international transfers).
🔹 Receiving Payments from Companies & Marketplaces
- Payoneer is widely accepted by companies like Amazon, Fiverr, Upwork, etc.
- Revolut does not allow receiving payments from these platforms.
🏆 Winner: Payoneer (for freelancers & businesses).
🔹 Multi-Currency Support
- Payoneer supports more currencies (50+), making it better for international payments.
- Revolut offers 30+ currencies but focuses on personal use.
🏆 Winner: Payoneer (for broader currency support).
🔹 Card & ATM Withdrawals
- Revolut offers a debit card with free withdrawals up to £200/month.
- Payoneer offers a prepaid Mastercard, but ATM withdrawals come with higher fees.
🏆 Winner: Revolut (for personal use & low-fee ATM withdrawals).
🔹 Business & Merchant Services
- Payoneer supports business transactions and allows receiving payments from clients.
- Revolut Business is useful for company expenses but lacks marketplace integration.
🏆 Winner: Payoneer (for businesses & freelancers).
🔹 Fees & Pricing
| Feature | Revolut | Payoneer |
|---|---|---|
| Account Fee | Free (Premium & Metal plans available) | Free (Some services have fees) |
| ATM Withdrawals | Free up to £200/month, then 2% fee | $3.15 per withdrawal |
| Foreign Exchange | Free up to £1,000/month, then 0.5% fee | 2-3% conversion fee |
| International Transfers | Low-cost | Higher fees (2-3% markup) |
| Receiving Payments | No | Yes (From companies like Amazon, Upwork, etc.) |
🏆 Winner: Revolut (for lower fees), Payoneer (for receiving payments).
3. Which One Should You Choose?
| Choose Revolut if… | Choose Payoneer if… |
|---|---|
| You want a digital bank for everyday use. | You freelance or work with international clients. |
| You need cheaper currency exchange rates. | You receive payments from Amazon, Upwork, Fiverr, etc. |
| You want a debit card & ATM access. | You need business invoicing & payout solutions. |
4. Conclusion: Which is Better?
✔ For personal banking & currency exchange → Revolut is better.
✔ For freelancers, businesses & receiving global payments → Payoneer is better.
Overall Winner? ✅ Revolut for everyday banking, ✅ Payoneer for freelancers & businesses.