First of all, I am based in Europe and as far as I know Payoneer only allows to withdraw money in local currency (so not USD), which is exactly the main Paypal issue (high conversion fee).
I have seen a lot of positive feedback on Payoneer on this forum, but not quite sure what the reason is. Can you please enlighten me ?

I have used both, but stopped using Payoneer.

Payoneer claims that it charges no fee when you make an online purchase, not true. They charge something called cross-border fee. Since they are located in Berlize, there is no way that you can buy anything without having to pay the cross-border fee, plus the conversion fee.

I have wrote this in my blog, and I guess I'll just copy and paste here.

Here are my findings and 3 reasons why I preferred Payoneer over PayPal now.

1. The conversion rate is about 1-2% percent cheaper than PayPal. And that's a lot when you started to do this in long term. There is no reason not to accept the increment of that extra 1-2% when you actually can.

2. The money transferred to your local bank account is a few days faster than PayPal. Now, why would I wait for my money a few days late if I have the choice?

3. The referral program is good because when I referred someone in, we both will get $25 when he/she receives a total of $1000. My referral link is

https://share.payoneer.com/nav/acNSnIOfW7Hk0TugNUaIoTxNjWPQCaklldO7YwmeRGBlB7pwg-9tv0JtuPvzBgXAgoyKa9Pnw6-0LTrVf8uQbg2

If you have decided to use Payoneer, please use my referral link above to sign up because both of us will earn $25.

For your information, it is not necessary to sign up to Payoneer Prepaid Mastercard to receive and transfer money. So, there is no hidden charges or whatsover. I have tried and confirmed it.

Thanks a lot! It seems like payoneer works well with my local bank while PayPal is a mess in Colombia.

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