Wise vs Payoneer vs Airwallex
Three popular ways to pay Chinese suppliers in foreign currency. Wise is best for bank-transfer style transfers with low fees; Payoneer offers multi-currency receiving accounts; Airwallex combines payments with business accounts and local settlement.
Wise
Payment & Finance
Payoneer
Payment & Finance
Airwallex
Payment & Finance
Overview
Low-cost international currency transfers
Cross-border payments for freelancers and businesses
Global business account and payment platform
Best for
Paying suppliers, currency conversion, multi-currency accounts
Receiving from marketplaces, paying suppliers
Multi-currency business payments, supplier payouts
Pricing
0.41-1% fee depending on currency pair
Variable fees, free receiving from select platforms
Competitive rates, subscription tiers available
Pros
- Real exchange rate with no markup
- Low transparent fees
- Fast transfer times
- Wide marketplace integration
- Multi-currency support
- Established platform
- Multi-currency accounts
- Corporate cards available
- API integrations
Cons
- Not available in all countries
- Transfer limits may apply
- Fees can add up
- Account verification takes time
- Business verification required
- Less suitable for occasional transfers
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