At Remotify, a European company operating in the Eurozone, we prioritize fast, cost-effective, and efficient payment solutions for our users.
At Remotify, a European company operating in the Eurozone, we prioritize fast, cost-effective, and efficient payment solutions for our users. Here’s why Wise and Payoneer stand out as the best options:
1. Quick Access with Euro Bank Accounts
By creating a SEPA bank account through Wise or Payoneer, users can receive payments in Euros directly. SEPA (Single Euro Payments Area) enables same-day transactions within the Eurozone, ensuring that your payments reach you quickly and without delays.
2. Low Transaction Fees
Both Wise and Payoneer offer highly competitive transaction fees. Compared to traditional banking methods, these platforms provide lower costs, making them an efficient choice for freelancers and companies.
3. Local Account Access & Fast Setup
With Wise and Payoneer, users can create accounts tailored to their local needs, with the flexibility of accessing funds in different currencies. The account setup process typically takes 1-2 days, allowing for a smooth and fast experience.
4. Avoiding High SWIFT Fees
For payments outside the European Union, the only available method is SWIFT. However, SWIFT transactions often incur high fees due to intermediary banks. By using Wise or Payoneer for SEPA transfers within the Eurozone, you avoid these unnecessary costs and receive your payments efficiently.
In summary, using Wise or Payoneer aligns perfectly with our goal of providing a seamless and low-cost payment solution for our European clients. We recommend these platforms to ensure you receive your payments quickly, efficiently, and with minimal fees.
Note: Please remember to update your account’s bank details to your new Euro iBan from Wise or Payoneer. We are using convera.com for currency exchange.
Wise formerly known as TransferWise is a specialist in low cost currency conversion, and flexible multi-currency accounts for personal and business customers.
Whether you want to hold a foreign currency balance, or make a one off payment, you’ll first need to open an account with Wise. Let’s look at what you need to do:
Payoneer is a global financial services company that provides online money transfer and digital payment services. It enables businesses, freelancers, and individuals to send and receive payments worldwide, access international bank accounts, and withdraw funds to local bank accounts.
Q1: How do I open a Wise account online if I live in Europe?
A: Visit Wise’s website or app, choose a personal or business account, enter your name, country, email and password, verify your email, then upload your ID and take a selfie for identity verification. After approval, you can create a multi-currency account, link a local bank account and start receiving payments.
Q2: How can I set up a Payoneer account for freelance payments?
A: Go to Payoneer’s website, click “Sign Up,” select the account type that fits you (Freelancer, Affiliate, etc.), fill in personal and contact information, optionally add bank details, upload ID/utility documents, submit your application and wait for approval.
Q3: Why should I use Wise or Payoneer instead of traditional bank transfers for payments?
A: Both Wise and Payoneer offer quicker access to EUR via SEPA, lower transaction fees compared to SWIFT, fast setup (1-2 days in many cases), and the flexibility to hold and receive funds in different currencies.
Q4: What are the main differences between Wise and Payoneer for receiving payments?
A: Wise focuses on multi-currency accounts, low cost currency conversion and linking bank accounts for withdrawals; Payoneer offers global payment services including international bank accounts, withdrawals to local banks and is widely used by freelancers and affiliates. The article guides both step-by-step.
Q5: How long does it take to get approval for Wise or Payoneer?
A: With Wise, once you verify your ID and bank link, you can often set up and start using your account quickly. With Payoneer, after submitting your documents you typically wait a few business days for the approval email.
Q6: Do I need to update my bank details if I switch to using Wise or Payoneer for receiving payments?
A: Yes. If you previously received payments in EUR via a different method, you should update your account’s bank details to your new Euro IBAN provided by Wise or Payoneer so your payments are correctly routed.
Q7: Can I open both Wise and Payoneer accounts at the same time?
A: Yes, you can. Many freelancers use both platforms Wise for low-cost international transfers and Payoneer for receiving payments from global marketplaces like Upwork, Fiverr, or Amazon.
Q8: Do Wise and Payoneer support withdrawals to local bank accounts?
A: Absolutely. Both services allow you to withdraw money to your local bank account in your preferred currency, usually within 1–2 business days, depending on your country and bank.
Q9: Are Wise and Payoneer safe for international payments?
A: Yes. Both are fully regulated financial institutions that follow strict security and compliance standards. Wise is licensed in the UK and EU, while Payoneer is regulated in the US and globally trusted by millions of users.
Q10: What documents are required to verify my Wise or Payoneer account?
A: You’ll need a valid government-issued ID (like a passport or national ID card) and, in some cases, proof of address (such as a utility bill or bank statement). These documents are used to complete your KYC verification.
At Remotify, a European company operating in the Eurozone, we prioritize fast, cost-effective, and efficient payment solutions for our users. Here’s why Wise and Payoneer stand out as the best options:
1. Quick Access with Euro Bank Accounts
By creating a SEPA bank account through Wise or Payoneer, users can receive payments in Euros directly. SEPA (Single Euro Payments Area) enables same-day transactions within the Eurozone, ensuring that your payments reach you quickly and without delays.
2. Low Transaction Fees
Both Wise and Payoneer offer highly competitive transaction fees. Compared to traditional banking methods, these platforms provide lower costs, making them an efficient choice for freelancers and companies.
3. Local Account Access & Fast Setup
With Wise and Payoneer, users can create accounts tailored to their local needs, with the flexibility of accessing funds in different currencies. The account setup process typically takes 1-2 days, allowing for a smooth and fast experience.
4. Avoiding High SWIFT Fees
For payments outside the European Union, the only available method is SWIFT. However, SWIFT transactions often incur high fees due to intermediary banks. By using Wise or Payoneer for SEPA transfers within the Eurozone, you avoid these unnecessary costs and receive your payments efficiently.
In summary, using Wise or Payoneer aligns perfectly with our goal of providing a seamless and low-cost payment solution for our European clients. We recommend these platforms to ensure you receive your payments quickly, efficiently, and with minimal fees.
Note: Please remember to update your account’s bank details to your new Euro iBan from Wise or Payoneer. We are using convera.com for currency exchange.
Wise formerly known as TransferWise is a specialist in low cost currency conversion, and flexible multi-currency accounts for personal and business customers.
Whether you want to hold a foreign currency balance, or make a one off payment, you’ll first need to open an account with Wise. Let’s look at what you need to do:
Payoneer is a global financial services company that provides online money transfer and digital payment services. It enables businesses, freelancers, and individuals to send and receive payments worldwide, access international bank accounts, and withdraw funds to local bank accounts.
Q1: How do I open a Wise account online if I live in Europe?
A: Visit Wise’s website or app, choose a personal or business account, enter your name, country, email and password, verify your email, then upload your ID and take a selfie for identity verification. After approval, you can create a multi-currency account, link a local bank account and start receiving payments.
Q2: How can I set up a Payoneer account for freelance payments?
A: Go to Payoneer’s website, click “Sign Up,” select the account type that fits you (Freelancer, Affiliate, etc.), fill in personal and contact information, optionally add bank details, upload ID/utility documents, submit your application and wait for approval.
Q3: Why should I use Wise or Payoneer instead of traditional bank transfers for payments?
A: Both Wise and Payoneer offer quicker access to EUR via SEPA, lower transaction fees compared to SWIFT, fast setup (1-2 days in many cases), and the flexibility to hold and receive funds in different currencies.
Q4: What are the main differences between Wise and Payoneer for receiving payments?
A: Wise focuses on multi-currency accounts, low cost currency conversion and linking bank accounts for withdrawals; Payoneer offers global payment services including international bank accounts, withdrawals to local banks and is widely used by freelancers and affiliates. The article guides both step-by-step.
Q5: How long does it take to get approval for Wise or Payoneer?
A: With Wise, once you verify your ID and bank link, you can often set up and start using your account quickly. With Payoneer, after submitting your documents you typically wait a few business days for the approval email.
Q6: Do I need to update my bank details if I switch to using Wise or Payoneer for receiving payments?
A: Yes. If you previously received payments in EUR via a different method, you should update your account’s bank details to your new Euro IBAN provided by Wise or Payoneer so your payments are correctly routed.
Q7: Can I open both Wise and Payoneer accounts at the same time?
A: Yes, you can. Many freelancers use both platforms Wise for low-cost international transfers and Payoneer for receiving payments from global marketplaces like Upwork, Fiverr, or Amazon.
Q8: Do Wise and Payoneer support withdrawals to local bank accounts?
A: Absolutely. Both services allow you to withdraw money to your local bank account in your preferred currency, usually within 1–2 business days, depending on your country and bank.
Q9: Are Wise and Payoneer safe for international payments?
A: Yes. Both are fully regulated financial institutions that follow strict security and compliance standards. Wise is licensed in the UK and EU, while Payoneer is regulated in the US and globally trusted by millions of users.
Q10: What documents are required to verify my Wise or Payoneer account?
A: You’ll need a valid government-issued ID (like a passport or national ID card) and, in some cases, proof of address (such as a utility bill or bank statement). These documents are used to complete your KYC verification.
