Skrill Vs Payoneer | Steps that will guide your decision | Exchange Rates | Fees

Skrill Vs Payoneer. Using the services of either Payoneer or Skrill to send money overseas will not really be good for everyone. This has to do with the fact that there are certain aspects that one is better than the other. It then requires more attention when it comes to selecting your service provider. One may be good in terms of fees and payment rate while the other has good customer service support. In this s article today, I will show you the differences between Skrill Vs Payoneer, this will enable you to choose the one that’s actually good for you. In this article, today lets compare the Skrill Vs Payoneer payment services.

Skill Vs Payoneer

Skrill Vs Payoneer

Skrill is an e-commerce business that users can use to transfer money and make payments using the Internet. From international money transfer to betting, gaming, trading and shopping at a low cost.

Payoneer also is a financial services company that provides online digital payment services, money transfer and give its customers working capital.

However, based on research Payoneer is more popular than Skrill services. But all the same, there are comparisons between the two payments services in terms of their foreign exchange rate, fees charges, countries that use their services, the security of both services, etc. Let’s see all these factors between the Skrill and Payoneer services.

Steps that will guide your decision

Skrill Vs Payoneer

Exchange Rates

The Payoneer Exchange rate comes with 2% to 2.75% that markup the already existing mid-market rate. While the Skrill rate applies to the existing mid-market rate on all transfer without adding any markup. This makes in terms of the exchange rate that Payoneer is better. Also, with Payoneer, the MasterCard exchange rate applies when users use the prepaid Payoneer MasterCard in unlisted currencies. Using Payoneer you can view the exchange rate before your final transaction. While with skills you have to view the rate by using their online currency calculator.

Fees

Furthermore, fees of any payment service are one of the things to check before patronizing such payment services online. You have to view their fees base before transacting business with them. For Payoneer and Skrill, their fees are considerable. Both payment services fee rates charges are almost the same. Payoneer Whenever you send money to another account holder there are no charges, its free. Transfer oversea on Skrill platform is 0%, no charges when you make or receive money from another Payoneer account in different currencies like USD, EUR, or GBP. Likewise with an online seller. It’s only when you make a withdrawal of funds from your account to your local bank account that you pay a fee. This is dependent on your country of residence. With Skrill when you send fund to another Skrill wallet or email address you will pay 1.45% of the transfer amount as fees. Also, you are charged a U. S $3 fee each month if no activity is taking happening in your account for 12 months. For more details on fees and rate check both websites.

Countries

However,  these two payments services are well known but definitely there are not all countries. Payoneer services are available in about 200 countries. They trade currently in over 150 currencies. On the other hand, Skrill provides services currently in all countries except Afghanistan, Eritrea, Libya, Iran, Iraq, North Sudan, South Sudan Syria North Korea, Cuba, and Kyrgyzstan. Also, its gaming-related transaction are just in the U. S, China, Malaysia, and Israel.

Easy to Use

To register on both payment platforms is easy although it takes a little time. Both services have their mobile app for Android and iOS devices. It is required you have the need documents to verify your identity and address. Both platforms operate a multilingual website, they have prepaid MasterCard’s that enables users to access fund in their account easily.

Security system

Payoneer Vs Skrill. Both platforms have a strong security system where all their files are highly encrypted to keep clients document safe. They both belong to good and strong organizations that ensure the security system of clients’ files. Payoneer is licensed under regulatory bodies in Canada, Japan, Hong Kong, Australia, and Gibraltar. Also, they are registered with the Financial Crimes Enforcement Network (FinCEN). While Skrill is registered with the Financial Conduct Authority (FCA).

However, in terms of regular overseas payment, both services falter. They are yet to offer these services. Turn to other services if you want to have this service.

Skrill Vs Payoneer services are two strong payment systems with reliable and maximum services for its clients. There are a lot of comparisons out there, check out the two services and choose which one better for your transaction.

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