Why Wise or Payoneer is the Best Payment Method for Receiving Payments
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
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:
- Visit Wise Website
- Go to the Wise website at wise.com or download the Wise app from the App Store or Google Play.
- Sign Up
- Click on the “Sign up” button.
- Choose whether you want a personal or business account.
- You can sign up using your email address, or link it to your Google or Facebook account for quicker access.
- Enter Your Information
- Provide your full name, email, and country of residence.
- Set a password for your account.
- Verify Your Email
- Wise will send you a verification email. Click the link in the email to confirm your account.
- Provide Personal Details
- Once your email is verified, you’ll be asked to provide more personal information such as your address, phone number, and date of birth.
- Identity Verification
- Wise will ask for identity verification to comply with regulations. Upload a photo of a government-issued ID (passport, driver’s license, or national ID card) and take a selfie to verify your identity.
- In some cases, you may be asked to provide additional documents like proof of address.
- Set Up Currency Accounts
- After verification, you can create a Wise multi-currency account. You can hold, send, and receive money in various currencies.
- Link a Bank Account
- Link your local bank account to your Wise account to transfer money or fund your account.
- Order a Wise Debit Card (Optional)
- If you’d like, you can order a Wise debit card to spend in multiple currencies at the real exchange rate.
Payoneer
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.
- Visit the Payoneer Website
- Go to Payoneer.com and click on the “Sign Up” button.
- Select Your Account Type
- Choose the option that best fits your needs, such as Freelancer, Online Seller, Affiliate Marketer, or Individual.
- Fill in Your Personal Details
- Provide your full name, email address, date of birth, and a secure password for your Payoneer account.. Make sure the information matches your government-issued ID.
- Enter Your Contact Information
- Add your address, phone number, and other contact details.
- Set Up Security Details
- Create a username and password for your Payoneer account.
- Set security questions for added protection.
- Add Bank Details
- Input your bank account information to connect Payoneer for withdrawals. This is optional if you plan to use Payoneer solely for receiving payments and not withdrawing them to your bank.
- Verify Your Identity
- You may be asked to upload a copy of your government ID (passport, driver’s license, or national ID). Sometimes, Payoneer may require additional verification like a utility bill or bank statement to confirm your address.
- Submit the Application
- Review all the information and submit your application.
- Wait for Approval
- Payoneer typically takes a few business days to review your application and send approval via email. Once your information is reviewed and approved, you’ll receive a confirmation email from Payoneer. This email will contain details about your account and
