Last Updated: January 14, 2026
Wise vs Payoneer: The Ultimate Guide for Pakistani Freelancers
As a Freelancer in Pakistan, managing international payments can often be a significant pain point. With PayPal not available in Pakistan, many are left looking for reliable alternatives. Two popular options are Wise and Payoneer. Both platforms have their pros and cons, and understanding them can help you choose the right service for your freelancing needs. In this guide, we’ll dive into the details of Wise and Payoneer, including relevant information for Pakistani freelancers, practical steps to get started, and tips on maximizing your earnings.
The Landscape for Pakistani Freelancers
Freelancers in Pakistan have carved out a substantial niche in the global market, generating over $100,000 in earnings through platforms like Fiverr and Upwork. However, the challenges of receiving payments can be daunting. With the absence of PayPal, it’s essential to consider viable alternatives that offer low fees, excellent exchange rates, and easy access to funds.
Wise: An Overview
Wise, formerly known as TransferWise, is a digital money transfer service that allows you to send and receive money internationally at the real exchange rate, which often results in lower fees compared to traditional banks. Here’s what you need to know:
Pros of Using Wise
- Real Exchange Rate: Wise uses the mid-market exchange rate, which saves you money compared to other services that add a markup.
- Low Fees: Transparent fee structure with no hidden charges.
- Easy to Use: User-friendly interface and mobile app make managing your finances simple.
- Multiple Currency Accounts: Hold and convert money in multiple currencies, which is beneficial for freelancers working with clients from different countries.
Cons of Using Wise
- Withdrawal Options: While Wise offers great rates, you may have to set up a local bank account to withdraw your funds in PKR.
- Not a Full Bank: Wise is not a bank, so it doesn't offer services like loans or credit.
Payoneer: An Overview
Payoneer is another widely used payment platform among freelancers, allowing you to receive payments from international clients and withdraw them in local currency. Here’s a breakdown:
Pros of Using Payoneer
- Global Acceptance: Many platforms like Upwork and Fiverr support Payoneer, making it easy to receive payments.
- Direct Bank Transfers: You can withdraw funds directly to your local bank account.
- Prepaid MasterCard: Payoneer provides a prepaid debit card that can be used for online and offline transactions.
Cons of Using Payoneer
- Higher Fees: Payoneer’s fees can be higher compared to Wise, especially for currency conversion.
- Complex Fee Structure: Understanding the fees can be confusing, as they vary based on the transaction type and currency.
Which One is Better for Pakistani Freelancers?
The choice between Wise and Payoneer largely depends on your individual needs and preferences as a freelancer. Here’s a quick comparison:
| Feature | Wise | Payoneer |
|---|---|---|
| Exchange Rate | Real exchange rate | Variable markup |
| Fees | Low and transparent | Higher and complex |
| Bank Withdrawal | Local bank account required | Direct bank transfers |
| Prepaid Card | No | Yes |
Getting Started with Wise
If you decide to go with Wise, here are the steps to get started:
- Sign Up: Visit Wise and create an account. You will need to provide your identification and verify your identity.
- Add Your Bank Account: Link your Pakistani bank account (HBL, MCB, UBL, Meezan Bank, or Allied Bank) to receive funds.
- Receive Payments: Provide your Wise account details to clients for payments. Wise allows you to receive payments in multiple currencies.
- Withdraw Funds: Convert your funds to PKR and withdraw them to your local bank account.
Practical Tips for Freelancers
- Tax Registration: Register with the FBR to benefit from favorable tax treatment as a freelancer.
- PSEB Registration: Getting registered with the Pakistan Software Export Board can open up more opportunities and provide a credible profile.
- Utilize Mobile Wallets: Consider using JazzCash or Easypaisa, which can be linked to your Payoneer account for easy withdrawals.
Conclusion: Key Takeaways
Both Wise and Payoneer offer unique advantages for Pakistani freelancers. While Wise provides lower fees and better exchange rates, Payoneer offers ease of access with its prepaid card and direct bank transfers. As a freelancer, understanding your payment needs and evaluating both platforms can help you make the best choice for your financial success. If you want to try a service with low-fee international transfers, try Wise today for low-fee international transfers!
Frequently Asked Questions
Does Payoneer work in Pakistan?
Yes, Payoneer works perfectly in Pakistan. You can receive payments from Fiverr, Upwork, and other platforms to Payoneer and transfer to your Pakistani bank.
How do I transfer from Payoneer to Pakistani bank?
Log into Payoneer, select Withdraw > To Bank Account, choose your Pakistani bank, enter amount. Funds arrive in 2-5 business days.
What are Payoneer fees?
Payoneer charges about 2% for withdrawal to Pakistani banks. ATM withdrawal costs $3.15. Currency conversion has a 2% fee.