Home > Blogs > Business Banking Insights > WorldFirst vs Payoneer: Features and fees comparison

WorldFirst vs Payoneer: Features and fees comparison

Last update: May 21, 2025

Contents

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.

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

Amount

Converted to

1.00 USD = 0.7018 AUD

Exchange rate as of 09:57 UTC

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.

Rick Hill has worked in payments and financial services for the past nine years. He began his career at a large institutional bank and has since worked across startups and scaleups. Over the past four years, his experience with e-commerce retailers has led him to believe that WorldFirst will be crucial in helping brands expand globally by demystifying the complexities of entering new markets.

Rick Hill

Author

Head of Sales ANZ at WorldFirst

The simpler way to pay and get paid

Save money, time, and have peace of mind when expanding your global business.

Get started

Multi-currency accounts, competitive FX, and global transfers — Everything you need to pay and get paid internationally

Who We Are >

Named a Top Global Fintech Company by CNBC & Statista, we’ve supported 1.5M+ businesses since 2004.

WorldFirst vs Payoneer: Features and fees comparison

What is WorldFirst?

What is Payoneer

WorldFirst vs Payoneer: Fees breakdown

Calculate how much you can save with WorldFirst