Payoneer vs Paypal vs Winvesta: What should Indian Freelancers use?

Read to learn the difference between Payoneer vs PayPal vs Winvesta and which one is best for you.

3 minutes read

Payoneer vs Paypal vs Winvesta: What should Indian Freelancers use?

Receiving payments from international clients can be a tricky task for Indian freelancers. With so many payment methods available, choosing the right one can be daunting. Do you prioritize low fees or fast transfer times? In this blog post, we’ll compare the popular payment methods – Payoneer vs Paypal – to help you navigate the payment landscape and find a better alternative. And if you’re looking for a cheaper and more convenient way to receive cross-border payments, keep reading to discover the exciting new player changing the game.

A] Payoneer for freelancers:

Payoneer is a payment platform many freelancers love to use because it’s secure and easy to receive payments from clients worldwide. Payoneer is widely accepted on popular freelance platforms like Upwork, Fiverr, and Freelancer.

Payoneer’s Fees

Regarding fees, Payoneer charges a transaction fee of 3% for credit card payments. While these fees may seem high compared to other payment platforms, Payoneer’s competitive exchange rates can offset these costs, resulting in higher earnings for freelancers. You can withdraw US Dollars, Euros, or other currencies and convert them to Indian Rupees.

Still, note that you will be charged a fee of up to 2% of the transaction amount in addition to any currency conversion fees based on the exchange rate. And if you need to transfer large amounts of money, consider looking into other options because Payoneer has a relatively low maximum transfer limit. Plus, with Payoneer, there are no monthly or annual fees, making it a cost-effective choice for freelancers who work on a project-to-project basis.

Time taken to receive money through Payoneer

One of the most significant advantages of using Payoneer is the speed at which you can receive your payments. After receiving payment in your Payoneer account, your funds will be transferred automatically within 24 hours to your bank account.

Paypal for freelancers:

PayPal is an excellent payment platform that offers many benefits. With PayPal, you can easily receive payments, make payments, and transfer funds between other PayPal wallets. It’s a versatile payment platform that caters to various types of users.

Note: If you are a freelancer in India wanting to open a PayPal account, you have to make sure you have the following:

  1. A registered business
  2. A business category
  3. A business PAN
  4. A business bank account in the same name as the PAN
  5. Your annual sales volume

Only registered businesses can receive payments, and fees are attached, including an exchange rate fee on any currency converted to INR.

PayPal’s Fees

One of the biggest drawbacks is Paypal transfer fees. PayPal charges a fee of 4.40% of the transaction plus a fixed fee depending on the client’s or sender’s location. On top of that, you’ll also have to pay an exchange rate fee.

However, one advantage of PayPal is that there are no monthly or setup fees, so it can be a good option for freelancers who want to avoid committing to a monthly payment platform.

Time taken to receive money through PayPal

Another factor to consider is the time it takes to receive money through PayPal. While PayPal offers instant transfers to eligible bank accounts and debit cards, standard transfers can take up to five business days to process. This delay can be a problem if you need to access your funds quickly.

PayPal can be a good choice for freelancers who want a secure and widely accepted payment platform. However, the fees and processing times can be a drawback, so it’s essential to consider all the options before deciding.

A quicker and cheaper alternative: Winvesta

You’ve read about the charges while comparing Payoneer vs Paypal. Their high fees can make it challenging to keep your hard-earned money. But don’t worry; Winvesta is here to offer a sigh of relief!

Winvesta provides virtual multi-currency accounts, a cost-effective solution to reduce transaction costs. Our virtual multi-currency account comes with its own US ACH, UK account number, Euro IBAN, and much more. This allows you to receive payments from over 180 countries in over 37 currencies, with lower fees and quick conversion options.

Winvesta’s Fees

Winvesta is a leading platform that allows freelancers to receive payments from abroad easily. With zero fees for joining, maintenance, and incoming wire transfer, Winvesta offers an affordable way for freelancers to receive client payments without worrying about high transaction costs. You can streamline your cross-border payments and enjoy cheap rates at just 0.99%

Time taken to receive money through Winvesta

The speed of payment depends on the currency, country, and mode of payment (regular/priority). You will see an expected settlement date when you create a payment. INR payments are usually credited within 1-3 business days. If our banking partner needs additional details regarding your transaction, it may take additional time to complete the transaction.


Receiving cross-border payments can be challenging, but as an Indian freelancer, you have multiple options. While Payoneer and PayPal are two popular payment methods, each has its advantages and drawbacks, which must be carefully considered. However, Winvesta offers a faster and cheaper alternative for freelancers who need to receive payments from abroad.

Open your Winvesta account today!


Disclaimer: The article includes references to PayPal and Payoneer, both of which own their own trademarks.