Payoneer vs PayPal 2022 – Which One is Better?

Payoneer vs PayPal 2022 – Which One is Better?

For the last ten years or so, I can pretty much guarantee we’ve all been handling our online payments the same way.


It’s fast, it’s simple, and they’re generally pretty good at helping you get your money back whenever the company on the other end doesn’t want to play ball.

But it looks like they might not be the best around, any more. In fact, there’s a serious contender in the ring with them who might just be going home with the championship belt this time.

Why has PayPal always been so popular?

Chinese currency is not allowed to leave China. 

This means that the money you make teaching English online is going to be limited to being spent in that country, unless you throw in with a company prepared to pay you in US dollars.

PayPal is great at converting currency, so it’s always proven an effective way of turning your Chinese RMB into US dollars.

However, PayPal will opt to use its own exchange rate, which sometimes shortchanges you – they charge a fee of 4.4%, plus an additional fee of $0.30 per transaction.

What does that mean for my online teaching pay?

We here at DigiNo are often keen to do the maths for you, so let’s do exactly that:

Imagine you’re working with DaDa, one of our more featured online TESL/TEFL companies on this website.

If you work 6 hours a week with DaDa, you’ll be looking to make about $15 an hour. That’s a monthly earning of $360.

Now we get to the fee – let’s take the 4.4%. That’s $15.84.

As you find your feet a little more, you decide to up your workload.

Now you’re committing 5 days a week, averaging about 15 hours, at $15 an hour.

All of a sudden, we’re talking about $900 a month.

Now we take the 4.4%, and we’re looking at $39.60… 

So PayPal is fine for working fewer hours, but is it going to hamstring me if I want to really commit and make a living out of this?

Pretty much… 

PayPal is fantastic for when you’re at the lower end of the scale; but as soon as you’re looking to make some serious cash then all of a sudden, your fees are through the proverbial roof.

It’s not the end of the world, but it’s something you’re going to want to keep in mind.

Especially as PayPal have dominated the market for as long as they have, and you’d be forgiven for not even knowing that there was an alternative.

But like we said earlier, there is an alternative… 

OK, so who’s this other contender I should be getting excited about…?

That, my friends, would be Payoneer.

Payoneer are quickly becoming one of the preferred ways to transfer money overseas, in some areas already eclipsing PayPal.

But like we said, it’s very possible you’ve never even heard of them.

That changes today.

What exactly is Payoneer, then?

Payoneer exists for the sole intention of making it easy to send and receive money overseas.

It doesn’t just ‘let you do it’ like PayPal; it makes it a priority.

Offering over 100 local currencies, it’s no exaggeration to say Payoneer may well be the future of overseas payment.

You can also withdraw your Payoneer money from select banks across the world, meaning you can turn your hard earned cash into exactly that… cash!

Testimonial From a DaDa Teacher That Switched To Payoneer

I got my pay yesterday in Payoneer and did the transfer and it went straight in overnight! My pay in AUD was only a bit less than what the optimum conversion rate was and I didn't see that I was charged any other fees.

I'm super excited about this, as Paypal had a 4% fee, and I would still lose further money in bad conversion rates as well, so I'm happy! My bank isn't awesome with their conversion rates either, so this is the best choice.

Teacher Carrie

Teacher Carrie

DaDa Teacher

With an incredibly intuitive sign-up process, Payoneer will have you cashing cheques in no time. Simply fill out the registration form on their website and you’re good to go.

Sign up to Payoneer Below and get $35 for free

$35 will be credited to you from Payoneer once you receive a total of $1000 payments in to your account.

They’ll ask you if you want to apply for their Payoneer Mastercard, which is a totally optional system. It’ll help you save money on fees if you’re living abroad while earning money – but be warned, it will trigger a yearly Mastercard fee.

Payoneer Review – Why is Payoneer the Better Choice?

Remember those irritating conversion fees from PayPal? Sure you do, they took $30 right out of your back pocket, you’re not forgetting them in a rush… 

And we’re not going to lie to you and tell you that Payoneer doesn’t have any fees. They do. Everywhere does. That’s something you’re just going to have to come to terms with.

But, are their fees more reasonable? And is that a leading question? The answer to both is ‘yes’.

Payoneer will often prove itself to be the more cost-effective of the two services. This is because Payoneer's business model isn't about monetizing from customer fees, therefore making it cheaper for the customer.

Payoneer Fees

Let’s take a look at what you might expect to see cropping up on your bill:

Obviously you can expect to see a yearly credit card fee of $29.95 (but only if you wish to use the mastercard), which will be charged once upon activating your account and then again on that date annually. So far, no surprises, right?

You’ll also face a withdrawal fee of $1.50 when you withdraw to a bank account of the same currency as the money you’ve earned – so with no conversion of currency, this would be the price you should expect to pay.

If you’re converting currency, then you should expect a mid-market rate for conversion + 2% maximum. 

But that’s it… 

OK, I know that sounds like a lot, but that’s just because it’s a big wall of information… 

Literally every other feature offered by Payoneer is offered free of charge.

Alright, so features like what…?

Do you want to receive a payment from another Payoneer account? 

Totally free of charge.

Do you want to send a payment to another Payoneer account?

Also totally free of charge. 

If you’re looking to make some serious cash teaching english online and want to do this with Payoneer then you can do just that, free of charge. It’s also totally instant, with payments transferred immediately.

That is why DigiNo has written a guide on how to get set up receiving your online teaching pay with Payoneer…

So who wins in Payoneer VS PayPal?

It depends. 

Alright, I appreciate that was a pretty vague conclusion and not really much of an answer… let me give you a little more to work with:

PayPal is fine if you’re comfortable doing fewer hours for smaller pay. If you’re keeping the numbers relatively low then you’re not going to get stung with an ungodly conversion fee.

But if you’re looking to make enough money to establish teaching online as your primary source of income, then PayPal is going to be wanting a chunk of that.

So then we’re looking at moving over to Payoneer. They ask for significantly less of your overall income.

However, many companies are also reticent to allow payments through Payoneer, as they’re still getting used to a world without PayPal on top, just like we are. 

To the best of our knowledge, many DigiNo ‘frequent flyers’ are happy to use Payoneer, meaning that Amazing Talker, PalFish and even Preply are more than happy to accomodate you.

So if you’re looking to save yourself a little extra hassle, then Payoneer is definitely one to check out. And you can even get yourself $35 for free when you sign up through the DigiNo button below:

Sign up to Payoneer Below and get $35 for free

$35 will be credited to you from Payoneer once you receive a total of $1000 payments in to your account.

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