WorldFirst vs Payoneer

Which service offers the best value on international money transfers?

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If you want to make an overseas payment, WorldFirst and Payoneer both offer bank-beating exchange rates and convenient international transfers. But which one offers the best value for money?

To find out, let's take a closer look at fees, exchange rates and transfer speeds across the two providers.

The fees and rates used in this comparison are accurate as of 19 March 2019.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 2,000 1 day AUD 0.00 0.675 USD
2,024
Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details

Compare up to 4 providers


The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

Which has lower fees?

WorldFirst

There are no transfer fees to worry about when you send money overseas with WorldFirst. However, your recipient's bank may charge a receiving fee.

Payoneer

When you receive a payment through Payoneer, the transaction fee that applies depends on how the sender paid for the transaction:

  • If paid for with credit card: 3%
  • If paid for via eCheck (USD): 1%

Receiving a USD payment through Payoneer's Global Payment Service attracts a fee of 1%.

Trophy icon
Winner: WorldFirst

WorldFirst doesn't charge any transfer fees and is an easy winner in this category. However, that doesn't necessarily mean it offers the cheapest transfers, as you'll also need to factor the exchange rate into your calculations.

Let's crunch the numbers: Sending $2,000 to the USA

To get a clearer idea of how WorldFirst and Payoneer compare, let's take a look at a real-world example of sending $2,000 to the USA.

Sending $2,000 to the USA
WorldFirst Payoneer
Transfer fee $0 $20
Exchange rate 1 AUD = 0.705097 USD 1 AUD = 0.694655 USD*
Transfer speed 1 working day 1 working day
Total USD received USD$1,410.19 USD$1,389.31
Receiver gets USD$20.88 more USD$20.88 less

* Exchange rate calculated on a maximum margin of 2%.

As you can see in the table above, using WorldFirst would allow you to save $20 on transaction fees, as well as send an additional USD$20.88 to your recipient.

Which offers better exchange rates?

WorldFirst

WorldFirst makes a profit by adding a margin on top of the mid-market exchange rate. This margin differs from one currency to the next but is usually in the 0.5-1% range. For example, if you're sending AUD to USD:

  • If the mid-market rate is 1 AUD = 0.709731 USD
  • The WorldFirst rate might be 1 AUD = 0.705993 USD

Payoneer

When you send money to a recipient overseas, they'll need to convert the currency you send into their local currency using Payoneer's conversion rate. This is calculated based on the mid-market rate, but attracts a currency conversion charge of up to 2% above the mid-market rate. However, if you want to access a real-time quote from Payoneer and find out the exchange rate that will apply to your transaction, you'll need to sign up for a verified account.

Trophy icon
Winner: WorldFirst

WorldFirst's margin of 0.5-1% is lower than Payoneer's fee of 2% above the mid-market rate. This means that if you choose WorldFirst, more of the money you send will arrive in your recipient's pocket.

Which is faster?

WorldFirst

WorldFirst transfer times vary depending on three factors:

  • The currency you send
  • The amount you send
  • Your bank

Transfers to major currencies (USD, GBP and EUR) are completed on the same day, but transfers to other currencies will take 1-4 working days.

Payoneer

In most cases, the funds you send will arrive in your recipient's Payoneer account within 2 hours, but it can take up to 2 business days. It's also worth pointing out that if your recipient wants to withdraw the money to their bank account or prepaid MasterCard, this part of the process will take 2-5 working days.

Trophy icon
Winner: Payoneer

Payoneer's fast transfer times make it the winner in this category. However, please note that if your recipient then wants to transfer those funds to their bank account or Payoneer MasterCard, additional processing time applies – which could end up making WorldFirst a quicker option.

General features

Payment methods Receiving options Maximum and minimum transfers Transfer speeds Currencies
WorldFirst Bank transfer Bank account Minimum: $2,000

Maximum: No limit

1 day 55+ currencies
Payoneer Credit card, Payoneer balance, eCheck, Bank transfer Payoneer account

(funds can then be withdrawn to recipient's bank account or prepaid Payoneer MasterCard)

Minimum: $20

Maximum: No limit

3 - 5 days AUD, USD, EUR, CAD, GBP, JPY, CNY

WorldFirst

WorldFirst is an online transfer service that allows you to send transfers of $2,000 or more to overseas bank accounts. You'll need to sign up for a free online account in order to send a transfer, while WorldFirst also offers the convenience of sending transfers via a smartphone app. Once your account has been approved, you can send a transfer by selecting the currency and amount you want to send and providing your recipient's bank account details.

Payoneer

Payoneer is an online payment service for businesses and freelancers who regularly need to send and receive international transfers. To send an overseas transfer, you'll first need to sign up for a free account. You'll then need to provide your recipient's Payoneer email address and transfer the requested amount.

Bottom line

WorldFirst generally offers more affordable transfers as well as access to a wide range of currencies.

However, make sure you compare WorldFirst and Payoneer with a wide range of international money transfer services to find the right provider for your needs.

Looking for more options?

Use our comparison calculator below to see how WorldFirst and Payoneer stack up against the competition in terms of fees, exchange rates and transfer speeds.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 1 2 days AUD 9.00 0.656 USD
6,557
Transfer to over 99 countries via online banking, phone banking or through an ANZ bank branch. Go to site Show details
AUD 2,000 1 day AUD 0.00 0.675 USD
6,748
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 3,000 1 day GBP 20.00 0.675 USD
6,739
Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.675 USD
6,748
Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.675 USD
6,748
SendFX guarantees to match any competitor's exchange rate. T&Cs apply.
Fee-free transfers in 30+ currencies to over 200 countries.
Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.675 USD
6,748
$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.675 USD
6,748
BFX can help you send fee-free transfers to 30+ currencies. Go to site Show details
AUD 5 1 - 2 days EUR 3.00 0.671 USD
6,706
Special offer: Pay zero fees on your first 5 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
AUD 1 Within an hour AUD 3.99 0.669 USD
6,691
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details
AUD 200 1 day AUD 0.00 0.672 USD
6,721
Low minimum transfer amount of just AU$200, with no set-up fees or transfer fees. Go to site Show details

Compare up to 4 providers


The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

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Transfer to over 99 countries via online banking, phone banking or through an ANZ bank branch.

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TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.

Logo for Global Reach (formerly FC Exchange) International Money Transfers
Global Reach (formerly FC Exchange) International Money Transfers

Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.

Logo for WorldFirst International Money Transfers
WorldFirst International Money Transfers

Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.

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