In This video we will compare Paypal and Payoneer
Which is better in receiving money / payments from international clients or legit sites that pays money
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Websites / clients / freelance jobs from other countries
They do not send your money or payment from their bank to your bank
or Paymaya or Gcash ( for filipinos)
they cannot do that - so we need a third party
Paypal and Payoneer are the usual mode of payments of international clients
From your Paypal or Payoneer then to your bank accounts or debit cards
On this video we will make actual comparison on Paypal and Payoneer
Payoneer and Paypal has pros and cons
I am suggesting Payoneer to freelancers those who are getting their income Monthly or Weekly
I am suggesting Paypal to those
Those who do not have stable income
like extra income online websites - like postloop or those sites that pays just "extra money"
But if you are receiving a little bit high salary / monthly
On my opinion payoneer is better for you
On this video Payoneer for me has 2 big Pros
And Paypal has 4 light Pros for me
Number 1 Pros of Payoneer for me is that you will receive better / higher end money to you hands / bank account - better than paypal
Why you will receive higher in Payoneer? First is the Payoneer got higher or better FOREX
Example - your 1 dollar in payoneer is 52 Pesos In paypal your 1 dollars might be 51.9 Pesos
Number 2 reason is transaction fee
Because in Paypal the higher the amount (Money / salary )you receive from your international client - The transaction fees become bigger too
Payoneer has fixed transaction fee - Depends on your client -
In Freeeup transaction fee is fixed 3 dollars - Later I will show the actual computation
Freeeup - is my number 1 recommended freelance marketplace
Or this is where you will find clients for your freelance jobs or for your freelance skills
Because here in freeeup " what you ask - Is what you get"
Example - if I ask 14 dollars per hour - I will get 14 dollars per hour
There are no fees - Like Upwork fees - or other Freelance site fees
I requested from freeeup to make my 400$ salary divided into 2
200$ to Payoneer and 200$to Paypal
In Paypal - 2% of the total amount sent to you - that is transaction fee of paypal
example your salary from freeeup is 1000$
You will receive your salary in Paypal less 20$ because that is 2% of 1000$
Thats a big sum of money - around 1000 Philippine Peso
If your salary is 1000$ - Then the total money you will receive in your paypal is 980$
Payoneer - since their transaction fee with freeeup is fixed 3$
So in payoneer - your salary 1000$ - the amount you will receive in your account is 997$
So -the difference in transaction fee is a little bit high too
Plus add the factor of actual conversion (FOREX)
Payoneer got better foreign exchange
This is the actual comparison - 200 dollars sent to Paypal and 200 dollars sent to Payoneer
as you will see - the amount I receive from freeeup here is 196 $
Because 2% of 200$ is 4$- so the amount i receive in paypal is 196$
In Payoneer
The amount I receive in Payoneer is 197$ because
200$ less 3$ Fixed transaction fee of Freeeup to Payoneer so 197$
Just from the transaction fees - You will receive higher amount of money in your Payoneer account - because of their fix transaction fee
but there is an exception here - if your weekly or monthly salary is a bit small
for example 50$ or 100$ because - 2$ of those amount is a little bit smaller like 1$ or 2$ transaction fees ( in paypal)
transaction fee of paypal
but if your salary is around 200$ or 150$ - its better to use payoneer
because you will suffer from the 2% transaction fee of paypal
because salary in online jobs or freelance jobs
Clients are sending it as Payment and not as send to family and friends
because there are no fees when sending to family and friends
but - send or pay for goods or services - theres a fee for that in Paypal
- Upon receiving 196$ and 197$ - Payoneer is already higher 1$
If your salary is 1000$ so the difference will be around 10$+ or 500 pesos to 1000 pesos
Because of fees
I made a small mistake in withdrawing my money - I should have used both BDO bank account
In Payoneer I used BDO
I used gcash in paypal
In paypal ( last year ) to BDO (Bank) I was charged 250 Pesos (5$)
so supposedly 196$ last year will still be deducted by 250 pesos(5$)
but that was last year
One of my viewers told me that charge of BDO ( bank) as of today is just 1$ or 50 pesos
So 196$ - 50 pesos or 1 dollar = 195$ will arive to your bank account
But I am not 100percent sure about that 50 pesos charge of BDO - because I havent tried that again
Because right now I am using Gcash on my paypal
In Payoneer
I withdraw 197$
As you can see here 197$ and the total amount is 10,064 Pesos
As you can see on my bank account record - it arrive 10064 Pesos without any charge
April 20 on Bank statement - I requested it from payoneer april 19
it was transferred to my bank account the day after I requested the transfer
Payoneer to BDO ( bank) there was no charge
You can see on your screen the actual amount - That I already have on my bank accounts / gcash
Actual money that's on my possession already
As you can see here that I got higher amount of money - When I used Payoneer
the difference will be higher if your money or income is bigger
like my 1000$ sample - Payoneer will be far more better
I will now say some pros of Paypal - Paypal is partnered with GCASH(APP available for Filipinos)
Paypal to gcash is instant
If I withdraw through GCASH or Paypal to gcash- I will receive the money real time
So that is one pros of Paypal - it is partnered with gcash
First of all it is very easy to get gcash
and it is instant
But right now there are lots of complaints with gcash transactions
On my personal experience, I haven't had failed transaction using paypal to gcash
Lots of my viewers are telling me that
They withdraw their money from paypal - the amount was deducted from Paypal but didn't arrived or appear in their GCASH
Right now - I received a lot of same complains like that
I think those are new users that are having those problems
Right now I am not suggesting that
Although that money that was deducted to your paypal account - will automatically return to your paypal account ( if the transaction was not succesful)
so there is just a problem ( sometimes) with paypal to gcash
Another one is you can connect your paymaya( virtual debit card in Philippines) to your paypal
And you can transfer your money there as long as your Paymaya is VISA card
thats another one - because Paymaya is a little bit easy to get - and FREE
- In Payoneer - the only option to withdraw your money is just BANK ACCOUNT - no other methods to withdraw your money
In paypal you can also use bank account
but - there is a charge of 50Pesos (1$) but it depends on the bank
Another Pros of Payoneer for me is the Sign up Bonus Money
If you register in the description of this video
you will receive 35$ Bonus
I only received 25$ bonus as you can see - but on your case you will receive 35$
this is somehow a big consideration for me
35$ is almost 1500 Pesos
you might say that it is just small - but....
For me - Small amount is better than nothing
because in Paypal even you already had10,000$ Transaction already
you will not receive any cash bonus from paypal
Here in payoneer you will receive a bonus
To know how to receive the 35$ please watch my first video on how to register in Payoneer
here are other Pros of Paypal for me
In paypal the minimum withdraw is a little bit low - 10$ Only
as you can see you cannot withdraw 5$ - they are not showing it but their minimum withdraw is 10$
50$ is the minimum withdraw in Payoneer - a little bit high
this is the reason why I am suggesting this to freelancers
those who get income monthly or weekly
for my viewers who only get extra income online from sites
from postloop - those who can get 5 to 10 dollars per week only
It is better for them to use Paypal
Those whose income is a little bit small per week or month - Paypal is the right option for you
Because it is easier for you to reach their 10$ minimum payout
or minimum withdraw of paypal
And another pros of paypal is
There are more sites that pays via Paypal
like Insta GC
They payment option is paypal - they do not have Payoneer option
Payoneer is for Major Freelance websites like Upwork, Fiverr and Freeeup
Gotranscript - those major websites - have payoneer as mode of payment
But those small websites like instaGC , Postloop
Mostly their mode of payment is Paypal
There are more websites that Pays via Paypal
but most freelance websites have Paypal and Payoneer payout option
Last but not the least pros of Paypal for me is
You can use Paypal for shopping online
You can also use paypal to send money to your friends
not unlike with payoneer
because Payoneer's number 1 function is to receive payments from clients
like from freeeup to Payoneer to your Bank account
So that is Payoneer's number 1 function
to receive payments from the online jobs that you worked for -
That is my personal opinion
You might have different priority
Example - you are only getting your income from small websites like postloop / global test market
if you are receiving small amounts of money - Paypal is better for you
but if you are a freelancer working on Freeeup , Upwork or Fiverr
that per month you are receiving 500$ 600$ to 1000$
Payoneer is better for that - or for freelancers
Because you will get higher amount - in the end
I already showed you the actual comparison of 200$
If your income is more stable and high then choose payoneer
for freelancers
but it is still your own choice. You can choose both
I do have both Payoneer and paypal
My freelance job - I used Payoneer
I am using my Paypal to receive small amounts - like from KO Trivia
I am sending them to my paypal
Ko trivia doesnt have payoneer payout option
those sites that do not pay via payoneer - I am sending them to my paypal account
but it depends on your priority
For me the most important thing is the end money or cash on hand I will receive
like the 200 $ - the money that will end up on my hands
If I will use Payoneer - instead of Paypal
that is the most important thing to me - you might have a different priority
your priority might be the instant transfer of Paypal to Gcash -
by the way if you withdraw
In paypal when I withdraw(last year) - Paypal to BDO - 3days before I received the money
or 2days
In payoneer it depends - most of the time 1 day to 2 days
the longest time before I received the money was 4 days - there was a holiday that time
it depends - and it is your own decision
Thank you for watching - See you next time
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