Geegpay vs Payoneer

If you're a freelancer, remote worker, or digital entrepreneur, chances are you've used Payoneer at some point to receive payments from international clients. And if you're reading this, you probably also use Geegpay to withdraw, convert, or even make payments.

That setup works, but here’s the thing: it’s costing you more than it should.

Instead of receiving your payments via Payoneer and then moving them to Geegpay, why not get paid directly through Geegpay and keep more of your money? In this blog, we’ll take a detailed look at Payoneer vs Geegpay, covering their features, costs, exchange rates, and withdrawal options to help you decide which one best suits your needs.

1. Overview of Geegpay and Payoneer

Before we get into the nitty-gritty, here’s a quick look at both platforms:

Geegpay is designed for freelancers, remote workers, and individuals in Africa who need to receive international payments efficiently. It provides USD, GBP, EUR, and local bank accounts, dollar debit cards, competitive exchange rates, and free conversions.

‍Payoneer is a global payment platform that enables individuals and businesses to receive international payments. It provides various payout options, including bank transfers and prepaid cards, making it a popular choice for cross-border transactions.

Now that we’ve got that out of the way, let’s compare them.

2. Account Setup and Availability

Geegpay: Registration is straightforward and FREE, requiring basic personal details and ID verification. Approval is also fast as long as your details are accurate. Geegpay is designed for freelancers and remote workers in Africa, focusing on better accessibility for this region.

Payoneer: Signing up requires personal details, a local bank account, and sometimes business documents. Approval can take up to three business days, depending on various factors, including your business’s location. Payoneer is available in over 200 countries however, In certain countries, a registration fee may apply when signing up on Payoneer. 

3. Payments and Fees on Geegpay vs Payoneer

When choosing a payment platform, freelancers, and remote workers, need a solution that is reliable, cost-effective, and easy to use. Both Payoneer and Geegpay offer ways to receive international payments, but they differ in fees, payment methods, and processing times.

Geegpay offers a cost-effective way for freelancers and remote workers to receive payments in multiple currencies, with competitive fees and no hidden charges. If you’re receiving payments in NGN via local transfer, there are no fees at all. For USD, GBP, and EUR, Geegpay provides accounts that let you receive ACH, wire and SWIFT payments seamlessly from international clients, with transparent fees based on the currency and payment method used.

Payoneer, on the other hand, allows you to receive payments through multiple methods, including credit card, ACH bank debit, and direct transfers from platforms like Upwork and Fiverr. Fees vary depending on the payment method and sender.

Here’s a breakdown:
Receiving Payments on Geegpay vs Payoneer

Wondering how you can link your Geegpay account on Upwork? Here’s how

Geegpay vs Payoneer – Sending Money/Transfer Comparison

Geegpay:

• Geegpay offers cheaper and more transparent fees for sending money internationally.
• Free transfers are available for sending NGN to Nigerian bank accounts.
• Transfers to other countries and currencies range from $1 to a max of $50, depending on the method and location.
• Bank transfers in GBP, EUR, and USD (ACH/Wire/SWIFT) cost 0.35% with minimum and maximum caps (e.g., USD ACH is $5–$30, USD SWIFT is $15–$50).
• Transfers to mobile money wallets in Africa and Asia are significantly lower (e.g., $1 to Kenya, Ghana, Tanzania, Uganda, and Rwanda).

Payoneer:

• According to Payoneer fees, sending money to a recipient who does not have a Payoneer account costs up to 3% of the transfer amount.
• If sending from a USD, EUR, or GBP balance to a recipient whose bank account matches their local currency and country, a fixed fee applies (e.g., $1.50 for USD-to-USD transfers in the US).
• Fees vary based on the recipient’s country and currency, and Payoneer does not offer free transfers.

Did you know you can pay for your cable TV, electricity, Internet and Airtime from your Geegpay multicurrency account? It’s super fast and easy to use. Try it out 

Geegpay vs Payoneer – Card Fees

The Geegpay virtual dollar card has a one-time creation fee of $3. Funding the card costs $0.5 per transaction, and each transaction also has a $0.5 fee. For cross-border payments on non-US websites, Mastercard charges a 0.9% fee. Unlike Payoneer, Geegpay’s card has no annual fees, no maintenance fees, and no charges for withdrawals from the card to your Geegpay wallet. Monthly service is also free.

The Payoneer card is free to order, with standard delivery at no cost. Express shipping via DHL costs $40. It has an annual fee of $29.95 for the first card, while additional cards in any currency are free. Transactions in the same currency as the card are free in supported countries, but currency conversions can cost up to 3.5%. If you make purchases in a country different from where the card was issued, you’ll pay up to 1.8% as a cross-border fee. ATM withdrawals cost $3.15 (or the equivalent in EUR/GBP), and checking your balance at an ATM costs $1. Card replacement comes with a $12.95 fee.

Here’s the simple truth: Payoneer makes sense for some people, but if you’re a freelancer or remote worker looking to maximize your earnings, Geegpay is the better choice. Ready to start receiving payments directly via Geegpay? Visit our website https://www.geegpay.africa/ and create an account for Free today.

Ref: Payoneer account, Payoneer support AI, Payoneer Fees.