Payoneer is built around the person receiving money: a contractor holds a Payoneer balance and pays fees to withdraw it. For a company paying a team of contractors, the main cost of Payoneer often sits on the contractor's side, where it never appears on the company's books. The right alternative depends on whether you only need to send money or also need someone to sign the agreement with each contractor.
TL;DR
- Payoneer account holders pay $1.50 to withdraw to a local bank account in the same currency, and 1.2% to 4% when the money is converted into another currency. An annual account fee of $29.95 can apply when account activity is low.
- To only send money, Wise Business charges the sender from 0.23% per transfer, and PayPal Payouts charges the sender 2% per payout up to a capped amount.
- Deel and Remote add contractor management from $49 and $29 per contractor per month, and contractor-of-record at $325.
- Kleos, a contractor-of-record and employer of record platform, signs the agreement with each contractor and charges $50 whenever you pay a contractor. Contractors pay nothing to withdraw.
Kleos publishes this comparison and appears in it. Every price for another provider is taken from that provider's own pricing or help pages, checked October and November 2026.
What does Payoneer charge?
Payoneer charges most of its fees to the account holder who receives and withdraws money. Withdrawing to a local bank account in the same currency costs $1.50, €1.50 or £1.50 in supported countries; withdrawing to an account in another currency, with conversion, costs 1.2% to 4%, depending on the countries, the payment method and the currency corridor. Kleos charges contractors nothing to withdraw.
| Payoneer fee | Amount | Who pays |
|---|
| Withdrawal to a local bank account, same country and currency | $1.50, €1.50 or £1.50, in supported countries | The account holder |
| Withdrawal to an account in another currency, with conversion | 1.2% to 4%, depending on the route | The account holder |
| Withdrawal to a bank account in another country, same currency | 1.2% to 4%, with a minimum fee of up to $20 in some countries | The account holder |
| Annual account fee | $29.95, where activity falls below Payoneer's threshold over 12 months | The account holder |
| Workforce Management, contractor management | $19 per contractor per month | The company |
| Workforce Management, agent of record | $99 per contractor per month | The company |
Sources: payoneer.com pricing and fees pages and Payoneer Workforce Management pricing, checked October and November 2026. Payoneer states that fees depend on sender and recipient locations, payment method and currency corridor, with minimum fees where applicable.
Agent of record is an older name for contractor-of-record: the provider signs the agreement with the contractor. Contractor payment pricing compared sets Payoneer's per-contractor fees against per-payout pricing.
Who pays Payoneer's fees: the company or the contractor?
Mostly the contractor. When a company pays contractors into Payoneer accounts, each contractor pays the withdrawal fee, and pays 1.2% to 4% when the money is converted into the currency of their bank account. The company sees the amount it sent, not the amount that arrived. Kleos charges contractors nothing to withdraw.
That gap is where contractors start asking for a different payment method. On a $3,000 payout converted on withdrawal, $36 to $120 can leave the contractor's side before the money reaches their bank. Across twenty contractors paid monthly, that is $720 to $2,400 a month the company never sees on an invoice.
Platforms differ sharply on this. Wise and PayPal Payouts charge the sender, and Deel charges its contractors $5 for a cross-border withdrawal. Deel alternatives for paying international contractors compares the contractor's side across eleven platforms.
What are the best alternatives to Payoneer for paying international contractors?
The alternatives fall into four models: payment services that only move money, such as Wise and PayPal Payouts; multi-currency business accounts, such as Airwallex; contractor management platforms, such as Deel and Remote; and contractor-of-record platforms, such as Kleos, which sign the agreement with each contractor and charge $50 whenever you pay a contractor.
| Provider | Model | What the company pays | What the contractor pays to withdraw | Signs the agreement with the contractor |
|---|
| Airwallex | Multi-currency business account | Interbank rate plus 0.5% on major currencies and 1% on others | Not applicable; the sender pays | No |
| Deel | Contractor management; contractor-of-record | $49 per contractor per month; contractor-of-record $325 | $5 cross-border, $5 to $10 over SWIFT | Under its contractor-of-record tier |
| Kleos | Contractor-of-record | $50 whenever you pay a contractor; 2% over the mid-market rate only when currencies differ | Nothing | Yes |
| Payoneer | Payment account; Workforce Management | Workforce Management $19 per contractor per month; agent of record $99 | $1.50 same currency; 1.2% to 4% with conversion | Under its agent-of-record tier |
| PayPal Payouts | Payment service | 2% per payout, capped by country and currency; conversion charged separately | No payout fee from PayPal | No |
| Remote | Contractor management; contractor-of-record | $29 per contractor per month; contractor-of-record from $325 | Not published on the pages checked | Under its contractor-of-record tier |
| Wise Business | Payment service | From 0.23% per transfer, depending on currency | Not applicable; the sender pays | No |
Sources: airwallex.com/pricing, deel.com and help.letsdeel.com, kleos.io, payoneer.com, developer.paypal.com, remote.com, wise.com, checked September to November 2026.
The first question is not the price. It is whether you already have a signed agreement with each contractor that holds in their country. If you do, a payment service is enough. If you do not, the cheapest payment service leaves the classification risk and the paperwork with you.
Which Payoneer alternative also signs the agreement with your contractors?
A contractor-of-record signs the service agreement with each contractor, pays them and carries the classification obligation for that engagement. Kleos works this way and charges $50 whenever you pay a contractor, with no monthly fee per contractor. Payoneer's agent-of-record tier costs $99 per contractor per month, and Deel and Remote charge $325.
| Provider | How the contractor-of-record fee is charged | One payout a month | Two payouts a month |
|---|
| Deel | $325 per contractor per month | $325 | $325 |
| Kleos | $50 whenever you pay a contractor | $50 | $100 |
| Payoneer agent of record | $99 per contractor per month | $99 | $99 |
| Remote | From $325 per contractor per month | $325 | $325 |
Published list prices for one contractor, October and November 2026.
With Kleos, the company signs one agreement with Kleos, and Kleos signs a separate agreement with each contractor, with terms set for the contractor's location and an IP assignment built in. The company tops up its balance and receives one invoice per top-up for the whole team. Contractor invoicing software compared covers how that invoice differs from bundling contractor invoices into one payment.
Payoneer vs Wise: which is cheaper for paying contractors?
For sending money, Wise is usually cheaper and shifts the cost to the company. Wise charges the sender from 0.23% per transfer at the mid-market rate and sends up to 1,000 payments from one batch upload. Payoneer puts most of its fees on the contractor: $1.50 to withdraw in the same currency and 1.2% to 4% with conversion.
Neither signs an agreement with the contractor. Both leave contracts, tax forms and classification with the company, so the comparison is between two ways of moving money, not two ways of engaging contractors.
Wise suits a company that already has agreements in place and wants to pay a handful of contractors at a known cost. Payoneer suits contractors who already receive money from marketplaces into a Payoneer balance.
Payoneer vs PayPal: what changes for the company and the contractor?
PayPal Payouts charges the company, Payoneer mostly charges the contractor. PayPal charges the sender 2% of each payout, up to a capped amount that depends on the sending country and currency, with currency conversion charged separately. PayPal does not charge payout recipients a fee for the payout itself.
Both work as wallets: the contractor needs an account and withdraws from it. Neither signs the agreement with the contractor or collects tax forms on the company's behalf.
What does each option cost for 20 contractors paid $3,000 a month?
For payments alone, Wise is the cheapest option here, at about $138 a month on the company's side. Among options that also sign the agreement with each contractor, Kleos costs $1,000 a month, against $1,980 for Payoneer's agent-of-record tier and $6,500 for contractor-of-record at Deel or Remote. Kleos contractors pay nothing to withdraw.
| Option | Company's monthly cost | Contractors' monthly cost to withdraw | Who signs with the contractor |
|---|
| Wise Business | From about $138 | Not applicable | You |
| Payoneer Workforce Management | $380 | $30 in the same currency; $720 to $2,400 with conversion | You |
| Remote, contractor management | $580 | Not published on the pages checked | You |
| Deel, contractor management | $980 | $100 at $5 per cross-border withdrawal | You |
| Kleos | $1,000, plus 2% only when currencies differ | Nothing | Kleos |
| Payoneer agent of record | $1,980 | $30 in the same currency; $720 to $2,400 with conversion | Payoneer |
| Deel or Remote, contractor-of-record | $6,500 | $100 at Deel; not published at Remote | Deel or Remote |
Published list prices, October and November 2026. Twenty contractors, one $3,000 payout each a month. Wise's fee varies by currency; Payoneer's withdrawal fee depends on the route the contractor uses.
The cheapest line depends on who signs with the contractor. Where you sign, you also keep the classification risk and the document set for each country. Global contractor management software covers what that document set includes.
What do companies tell Kleos about paying contractors through Payoneer?
Three patterns come up when companies paying through Payoneer talk to Kleos: the cost of the route the money takes, the manual work around each payment, and a team spread across several tools.
A company paying freelancers through Payoneer and PayPal told Kleos that the most manual work came from contractors whose bank accounts were in currencies other than US dollars, euros or pounds. The team adjusted the payout file by hand so that contractors did not lose money to bank and conversion fees.
Another company paying a small team was quoted 3% by Payoneer for a SWIFT payment and was weighing ACH at 1% to 2% instead. A US company paying a few people in India kept them on Payoneer while running the rest of the team elsewhere.
In each case the payment itself worked. The cost sat in the fees on the route and in the hours spent protecting contractors from them.
Frequently asked questions
What are the best Payoneer alternatives for paying contractors?
Wise Business and PayPal Payouts for sending money only, Airwallex for multi-currency business accounts, Deel and Remote for contractor management, and Kleos as a contractor-of-record that signs the agreement with each contractor. Kleos charges $50 whenever you pay a contractor, and contractors pay nothing to withdraw.
How much does Payoneer charge to withdraw money?
Payoneer charges $1.50, €1.50 or £1.50 to withdraw to a local bank account in the same currency in supported countries, and 1.2% to 4% to withdraw to an account in another currency, depending on the route. An annual account fee of $29.95 can apply when activity is low.
Does Payoneer charge an annual fee?
It can. Payoneer lists an annual account fee of $29.95, which applies when account activity falls below its threshold over a 12-month period. Payoneer states that any applicable fees are shown during registration and in the account's fees section.
Is Wise cheaper than Payoneer for paying contractors?
For sending money, usually yes, and Wise charges the sender rather than the contractor: from 0.23% per transfer at the mid-market rate. Payoneer puts most of its fees on the contractor, who pays to withdraw. Neither signs the agreement with the contractor.
Does Payoneer have a contractor-of-record service?
Payoneer Workforce Management lists an agent-of-record tier at $99 per contractor per month, where Payoneer signs with the contractor. Its contractor management tier costs $19 per contractor per month, with the agreement staying with the company. Kleos charges $50 whenever you pay a contractor as contractor-of-record.
Who pays the fees when you pay contractors through PayPal Payouts?
The sender. PayPal charges 2% of each payout, up to a capped amount that depends on the sending country and currency, and charges currency conversion separately. PayPal does not charge payout recipients a fee for the payout itself.
How much does Kleos charge to pay contractors?
Kleos charges $50 whenever you pay a contractor, with no monthly fee per contractor and nothing in a month with no payout. Kleos adds 2% over the mid-market rate only when the payout currency differs from the funding currency. Contractors pay nothing to withdraw.
Ask three of your contractors what arrived in their bank last month against what you sent, then price each option on that gap as well as on the fee you pay.
Last updated: November 2026.
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