WorldFirst vs Payoneer: Features and fees comparison
Last updated: 21 May 2025
We compare WorldFirst and Payoneer to help you find the ideal multi-currency account for your global business needs.
Key takeaways
- WorldFirst supports 20+ currencies with no account maintenance fees, as well as free business cards
- Payoneer supports 10 currencies with zero account fees, but charges a $29.95 fee for the first business card
- Both WorldFirst and Payoneer support free, instant account-to-account transfers
Introduction
Both WorldFirst and Payoneer offer business accounts in Australia with the goal of making it easy for fast-growing businesses to make secure international transactions.
But which of the two foreign currency accounts can help you protect your profit margins and support global business expansion?
Let’s compare the World Account with the Payoneer business account.
Table of Contents
What is WorldFirst?
WorldFirst is an international payment provider that streamlines cross-border transactions for over one million businesses worldwide.
The World Account is a multi-currency account that lets you pay, get paid, hold and convert funds in 20+ currencies. You can use your World Account to make fast and secure payments to suppliers, collect payments from global customers, convert funds at competitive rates, and withdraw the money to your bank account at any time.
What is Payoneer
Founded in 2005, Payoneer is a payment provider that also offers a multi-currency account, allowing users to send, receive, and hold payments in 9+ currencies [3]. Separate accounts are available for freelancers and businesses, each customised to their unique requirements and challenges [1].
WorldFirst vs Payoneer: Fees breakdown
| Payoneer account fees [2] | WorldFirst | |
|---|---|---|
| Monthly fee | Free | Free |
| Opening a multi-currency account | Free (10 currencies) | Free (20+ currencies) |
| Account maintenance fee | USD 29.95 (waived if you receive USD 2,000+ or equivalent in other currencies over a 12-month period) | No |
| Receiving funds | From Payoneer customers: Free From non-Payoneer customers: Credit card: Up to 3.99%* ACH Bank Debit: 1% (US only) PayPal: 3.99% + $0.49 (US only) |
Free |
| Holding funds in multiple currencies | Free | Free |
| Sending payments to users in the same network | Free | Free |
| Sending payments to other accounts | Up to 3% of transaction amount (a minimum fee may apply) | Local payments in AUD or NZD: Free Cross-border payments and local payments in currencies other than AUD or NZD: From 0.4%, capped at AUD 15 |
| Withdrawing funds | Up to 3% |
Zero fees to a home bank account A WorldFirst conversion rate applies for cross-currency conversions |
| Getting a debit card | USD 29.95 for the first card; subsequent cards are free | Free |
| Markup/margin over currency exchange rates | Can only be accessed after logging in or contacting the support team | For major currencies: Up to 0.6% For minor currencies: From 0.67% For payments to 1688 suppliers: Up to 0.8% Forward contracts: Up to 0.2% per month |
*Fees checked in January 2025
Calculate how much you can save with WorldFirst
AEDUnited Arab Emirates Dirham
AUDAustralian Dollar
BGNBulgarian Lev
BHDBahraini Dinar
BWPPula
CADCanadian Dollar
CHFSwiss Franc
CNHRenminbi
CNYYuan Renminbi
CZKCzech Koruna
DKKDanish Krone
EGPEgyptian Pound
EUREuro
GBPPound Sterling
HKDHong Kong Dollar
HUFForint
IDRRupiah
ILSNew Israeli Sheqel
INRIndian Rupee
JPYJapanese Yen
KESKenyan Shilling
KRWWon
LKRSri Lanka Rupee
MADMoroccan Dirham
MURMauritius Rupee
MXNMexican Peso
MYRMalaysian Ringgit
NOKNorwegian Krone
NZDNew Zealand Dollar
PHPPhilippine Peso
PKRPakistan Rupee
PLNPolish Złoty
RONRomanian Leu
SARSaudi Riyal
SEKSwedish Krona
SGDSingapore Dollar
THBBaht
TRYTurkish Lira
USDUnited States Dollar
VNDDong
ZARRandAEDUnited Arab Emirates DirhamAUDAustralian DollarBGNBulgarian LevBHDBahraini DinarBWPPulaCADCanadian DollarCHFSwiss FrancCNHRenminbiCZKCzech KorunaDKKDanish KroneEGPEgyptian PoundEUREuroGBPPound SterlingHKDHong Kong DollarHUFForintIDRRupiahILSNew Israeli SheqelINRIndian RupeeJPYJapanese YenKESKenyan ShillingKRWWonLKRSri Lanka RupeeMADMoroccan DirhamMURMauritius RupeeMXNMexican PesoMYRMalaysian RinggitNOKNorwegian KroneNZDNew Zealand DollarPHPPhilippine PesoPKRPakistan RupeePLNPolish ZłotyRONRomanian LeuSARSaudi RiyalSEKSwedish KronaSGDSingapore DollarTHBBahtTRYTurkish LiraVNDDongZARRandExchange rate as of 03:30 UTC
The exchange rate is updated frequently and is for informational purposes only. The actual rate offered to you when making a payment will be confirmed before booking the payment.
- Open 15+ local currency accounts and get paid like a local
- Pay suppliers, partners and staff worldwide in 100+ currencies
- Collect payments for free from 130+ marketplaces and payment gateways, including Amazon, Etsy, PayPal and Shopify
- Take control of spending with the World Card, a business expense card that saves you more with 1% cashback. Learn more
- Save with competitive exchange rates on currency conversions and transfers
- Lock in exchange rates for up to 24 months for cash flow certainty
World Account vs Payoneer Business Account: Feature comparison
Supported currencies
Both WorldFirst and Payoneer allow users to open multiple local currency accounts to send, receive, convert and hold funds in various currencies. You get account details for every local currency account, including an account number and bank code.
To receive customer funds, you can share your local bank account details in their preferred currency or link the local currency accounts to the regional marketplaces.
For instance, if you sell on Amazon US, you can link your USD bank account details to your seller account to collect payments in USD and hold the funds in your multi-currency account.
| WorldFirst | Payoneer | |
|---|---|---|
| Multi-currency account fee | Zero | Zero [2] |
| Local currency account details | 20+ currencies (including GBP, USD, EUR, AUD, JPY, NZD, SGD, HKD, CNH and CAD) WorldFirst can also provide offshore accounts for AED, CHF, SEK and PLN. |
9+ currencies, including USD, JPY, EUR, AUD, HKD and SGD [3] |
| Currencies supported for sending and receiving funds | 100+ currencies | 70 currencies [1] |
| Countries supported | 200 countries and regions supported | 190+ countries [1] |
Account-to-account transfers
When you send money from one World Account to another, the payments are instant and free with no transaction fees. Payments between Payoneer accounts are also free.
Business cards
All World Account holders can apply for a World Card for free and pay in 150+ currencies wherever Mastercard is accepted. When you use the World Card to make payments in 15 supported currencies (including GBP, USD, EUR, AUD, JPY, NZD, SGD, HKD, CNH and CAD), there are zero foreign exchange fees as long as you have sufficient balances in the respective currency accounts.
You can get up to 20 multi-currency debit cards for your team at no extra costs. It’s also possible to set custom spending limits for each card and streamline expense management.
Payoneer cards are not multi-currency cards. Each card is linked to just one currency balance in your Payoneer account — either USD, EUR, GBP, or CAD. You can choose a virtual or physical Mastercard, but you’ll need a separate card for each currency [6].
The first card you get from Payoneer will attract an annual fee of USD 29.95 [2]. Additional cards are free.
Marketplace and payment gateway integration
WorldFirst supports payment collections from 130+ global marketplaces and payment gateways, including Amazon, eBay, AliExpress, and Stripe. You can add the local currency account details to your marketplace seller account to start collecting payments in your customers’ local currencies.
It’s also easy to download account verification letters directly from your World Account dashboard in case the marketplace requires proof of account ownership.
Payoneer also allows online sellers to collect payments from marketplaces in a similar way–you get access to local currency account details and you can use those to receive payments.
Regulation
WorldFirst Pty Ltd is an Australian company regulated by the Australian Securities and Investments Commission (ASIC). It’s also a designated remittance provider registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC).
Payoneer is regulated and licensed by the Australian Securities & Investments Commission (ASIC) [5].
WorldFirst or Payoneer: Which is better for global businesses?
WorldFirst and Payoneer offer similar services to Australian businesses. The difference lies in the fees they charge and the currencies they support.
The right payment provider will depend on your exact business needs.
Sources:
- https://www.payoneer.com
- https://www.payoneer.com/about/pricing/
- https://www.payoneer.com/multi-currency-account/
- https://www.payoneer.com/commercial-card/
- https://www.payoneer.com/about/security-center/
- https://payoneer.custhelp.com/app/answers/detail/a_id/18226/~/account-with-card—faq
Disclaimer: The information contained is general only and largely our views. Before acting on the information you should consider whether it is appropriate for you, in light of your objectives, financial situation or needs. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions, estimates, mentioned products/services and referenced material constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. WorldFirst shall not be responsible for any losses or damages arising from your reliance of such information.
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- Almost 1,000,000 businesses have sent USD$300B around the world with WorldFirst and its partner brands since 2004
- Your money is safeguarded with leading financial institutions
