Tired of Payoneer’s delays and hidden fees? Here’s how to switch to something faster, cheaper, and built for global teams.

For businesses managing international contractors, paying your global team should be straightforward-not a source of headaches. Yet, for many companies and freelancers relying on Payoneer, the experience often falls short of expectations. High fees, slow payments, and a clunky user experience can quickly become a major headache for businesses and freelancers alike, draining your energy and eating into your bottom line.

But you don’t have to settle for less. There are better solutions out there - platforms that solve these pain points while helping you save time, reduce costs, and boost contractor satisfaction in key markets like Argentina, Kenya, India, the Philippines, and beyond. One standout alternative is SigmaRemote: a modern global payroll platform built for a seamless, contractor-friendly experience. Without breaking the bank.

If you're exploring alternatives to Payoneer, this guide will break down the common frustrations, explain what to look for in a better solution, and highlight why SigmaRemote may be your ideal choice.

Why Payoneer Falls Short: The Challenges of Using Payoneer

Over the years, Payoneer has become a go-to for international payments-but is it really working for your business? Many companies and contractors encounter recurring issues that can cost time, money, and trust. Here’s what users consistently report:

🧾 High Fees Eating Into Margins

• Currency conversion fee: Up to 3.5% above the mid-market rate
  That’s $35 lost per $1,000 converted - straight from your contractor’s paycheck.
  
  

• Withdrawal to local bank: ~$1.50 flat fee
  For smaller payouts (e.g. $100–200), this can eat up 1–2% extra.
    

• Payoneer Mastercard ATM withdrawal: $3.15 per use
  Add up to 3.5% in cross-border/currency fees on top of that.
  
  

• Annual inactivity fee: $29.95 for accounts with <$2,000 yearly activity
  Even freelancers with occasional projects still get hit.
  
  

Bottom line: Even “small” fees stack. For teams paying across Latin America, Africa, and Southeast Asia, it’s easy to lose $40–$60 per $1,000 in FX and hidden charges.

Why It’s Worse in Emerging Markets

Payoneer adds markups on top of Mastercard FX rates, which disproportionately hurts regions like Argentina, Nigeria, Kenya, Philippines, etc.

Local banks often tack on inbound wire fees, inflating the true cost of each withdrawal - especially in volatile currency environments.

🕒 Slow and Unpredictable Payments

• Payments often take longer than promised-typically 3–5 business days, sometimes more.

• Delays stem from processing times, currency conversions, and compliance checks.

• Contractors depending on fast payment may experience financial unpredictability.

• For businesses, these slowdowns can break trust and drive up turnover.

🔗 Complex and Frustrating User Processes

• The interface isn’t always user-friendly, especially for those new to digital payments.

• Setting up accounts, verifying identity, and transferring funds can be complicated and time-consuming.

• These extra steps pull you away from productivity and growth.

📞 Customer Support That Misses the Mark

• Users describe long response times-sometimes waiting days for help.

• When payment issues arise, slow solutions only heighten frustration and uncertainty.

Before jumping to another platform, it's essential to understand what makes for a better payment experience. Here’s what you should prioritize when evaluating alternatives:

1. Competitive Pricing

Look for transparent pricing models that minimize fees. Competitive rates for currency conversion, withdrawals, and account maintenance can dramatically lower costs for your business.

2. Faster Payments

Timeliness of payments is critical for maintaining contractor trust and satisfaction. Seek platforms that process payments and currency conversions efficiently, providing predictable timelines.

3. User-Friendly Interface

A clear, intuitive interface benefits both businesses and contractors. Features like seamless onboarding, automated payments, and real-time updates can save time and effort.

4. Contractor Support

Your contractors' payment experience matters. Choose a solution that keeps their needs at the forefront, offering tools like USD wallets, fast access to funds, and reliable customer service.

5. Compliance and Security

Compliance with local laws and tax regulations is a must for global payroll solutions. Providers should also offer robust security measures to protect your payments and sensitive financial data.

Why SigmaRemote is the Superior Alternative

Payoneer’s total cost often exceeds 5–6% once FX and withdrawal fees are combined - taking a significant cut from your contractors’ payouts.

Let’s break down the numbers and see how SigmaRemote stacks up against Payoneer on costs:

Financial Performance: SigmaRemote vs. Payoneer

But saving money is just the beginning - your contractors also need a platform they trust and enjoy using.

Here’s how SigmaRemote delivers a better experience across the board:

Platform Experience: SigmaRemote vs. Payoneer

Estimated Annual Savings with SigmaRemote

Example: A US-based business paying contractors in countries like Latin America, Africa, and Southeast Asia cut up to 70% of its international payment costs by switching to SigmaRemote.

SigmaRemote is purpose-built to solve the real challenges of international contractor management and payroll. Let’s break down the major benefits that set SigmaRemote apart:

1. Lower Costs

Replace high conversion and withdrawal fees with flat-rate pricing and competitive exchange rates for meaningful savings.

Businesses facing local currency volatility minimize losses using SigmaRemote’s cost-effective USD wallet, letting contractors skip poor local exchange rates.

2. Faster Payments

Get contractors paid, fast. Optimized infrastructure ensures payments reach your team in just 1–2 business days-building trust while improving retention.

3. Contractor-Friendly Features

Give your contractors financial control. The USD wallet shields them from currency swings and lets them decide when to convert funds.

No hidden fees. Transparent withdrawals mean more money stays where it belongs.

4. Simple, Intuitive Processes

Set up in under 15 minutes with guided onboarding. Automated workflows and a streamlined dashboard save your team valuable time.

5. Stellar Support

Count on responsive experts when you need them. One tech startup switched to SigmaRemote and saw issue resolution times improve by 3x.

Ready to leave payment frustration behind? SigmaRemote makes switching simple and delivers measurable business impact.

Unlike other payment solutions, SigmaRemote focuses on solving the specific challenges of global teams with a mix of innovation, compliance, and simplicity. Here's what sets it apart:

• Global Reach: Built to support payments in over 180 countries, SigmaRemote ensures a seamless experience, no matter where your team operates.

• Compliance First: From tax reporting to legal compliance, SigmaRemote manages the complexities of international payments so you don’t have to.

• All-In-One Convenience: By integrating payroll, contractor management, and payment automation into one platform, SigmaRemote eliminates the need for multiple tools and processes.

Making the Switch to SigmaRemote

Switching from Payoneer to SigmaRemote is easier than you think. Here’s how to get started:

1. Schedule a Demo: Discover how SigmaRemote works with a personalized walkthrough from their team.

2. Migrate Your Contractors: SigmaRemote supports a smooth onboarding process, ensuring uninterrupted payments for your workforce.

3. Start Saving and Thriving: Enjoy lower costs, faster payments, and happier contractors as your business benefits from an optimized payment system.

Final Thoughts

Managing international contractor payments shouldn’t be complicated-or costly. SigmaRemote streamlines your global payroll with faster payments, lower fees, and contractor-friendly features like USD wallets. Make the switch today to boost efficiency, cut costs, and keep your global team happy.

Ready to experience the difference? Book your free demo or contact our team to get started.