Business payments don't have to be complicated
Try Sokin and see for yourself
Sokin vs Payoneer: Unlimited transfers at wholesale rates
Discover how Sokin’s no-subscription model lets you earn on your balances and saves you money compared to Payoneer.
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Morgan Stanley invests to become our trusted partner in growth
Recognised as one of the fastest-growing private technology companies.
Fast and Free Onboarding
Transparent Pricing
Hands on Support
SME Friendly
Sokin puts business owners and finance teams first
Avoid forced conversion fees
Bypass restrictive USD and EUR limits. Manage global settlements in like-for-like currencies to simplify reconciliation.
Put idle funds to work
Earn up to 3.5% AER on GBP, EUR, and USD balances; put your working capital to work.
Support that actually solves things
Clear communications and quick resolutions through real people; to ensure your account is never in the way of business.
Why fast-growing businesses choose Sokin
Sokin is designed for finance teams that value clarity, control, and consistency in their global operations. With transparent FX, no monthly fees, multi-currency accounts, and predictable payment costs, Sokin helps businesses budget confidently, streamline cross-border transfers, and scale without complexity.
Payoneer*
Monthly fee**
No monthly fee, but an inactivity fee of 29.95 USD may apply
🏆 No monthly fee
Currency exchange fee**
Real-time exchange rate + 0.5%
Wholesale rate + min 0.5% regardless of currency
Transfer fee**
Up to 3% in most cases
From £5
Inbound fee
No inbound fee
No inbound fee
Local account details
🏆 9+ regions including GBP, EUR, USD
5 regions including GBP, EUR, USD
Hold and manage multiple currencies
9+
🏆 26
Countries you can send to
🏆 190+
170
Earn on balances***
No
🏆 up to 3.5% on USD, GBP and EUR***
Payout currencies
70
🏆 70+
Accounting Integrations
QuickBooks & Xero
🏆 Sage, Xero, NetSuite, QuickBooks
Multiple accounts per entity
Yes
Yes
E-commerce Plugin
🏆 8+ including wooCommerce and Magento
wooCommerce, Magento and more
Disclaimer:
*Payoneer information shown is based on publicly available global pricing and product details as at January 6, 2026.
**May vary by region.
*** Sokin Premium wallets and Boosts are subject availability depending on your region. Sokin reserves the right to withdraw or not offer this product to any account. Premium Wallets and the Boost functionality is only available to Sokin Business Customers who have a multi currency account. The Interest rates outlined are correct as of 1st September 2025 and are subject to change depending on the Central Bank rate change.
*Payoneer information shown is based on publicly available global pricing and product details as at January 6, 2026.
**May vary by region.
*** Sokin Premium wallets and Boosts are subject availability depending on your region. Sokin reserves the right to withdraw or not offer this product to any account. Premium Wallets and the Boost functionality is only available to Sokin Business Customers who have a multi currency account. The Interest rates outlined are correct as of 1st September 2025 and are subject to change depending on the Central Bank rate change.
Compare the landscape
Every global payments partner offers something different. Explore our comprehensive blog to ensure you have the agility and reach your business demands.
3 more reasons to switch from Payoneer to Sokin
Enjoy the best of business banking through one easy portal
- Transparent Pricing No hidden FX markups. No complex fee structures. Just flat, predictable costs.
- Stellar Customer Support Talk to experts who provide clear answers instead of automated replies.
- Trusted Partnerships Supported by global financial institutions and built to grow with your business.
All the currencies you need.
At our best rates, guaranteed.
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See our real impact
70+
payout currencies
170
Countries you can send to
$8B
payment volume processed
Products we offer
Multi-currency Accounts
Receive funds in 26 currency accounts across local and multi-currency accounts.
FX & Payments
Send fast international payments to over 170 countries in 70+ currencies.
Balance boost
Switch on your Boost to earn upto 3.5% AER on unlimited USD, EUR and GBP balances.
Payment gateway
Ecommerce payment gateway that supports your domestic & international customer base.
Accounting integrations
Connect directly with your existing ERP and accounting platforms to fuel efficiency.
Questions and Answers
Are there any account opening or annual fees with Payoneer?
Payoneer accounts are usually free to open, but there's a $29.95 annual fee if your account receives less than $2,000 per year. Sokin never charges an account opening or any annual fee.
How do I open a multi-currency business account with Payoneer
Sign up on Payoneer's website as a business, complete the verification process, and then request local receiving accounts in your chosen currencies. You can get accounts in 9+ currencies, with Sokin you can get account details in up to 26 currencies.
What fees and FX rates will I pay with Payoneer?
Fees vary by method and country: receiving is often free or ~1%, converting between balances is 0.5% over the real‑time rate, bank withdrawals can be up to 3%, and card FX is up to 3.5%.
Is Payoneer safe and regulated, and how does it protect my money?
Yes—Payoneer is regulated (FinCEN‑registered MSB in the U.S., FCA‑authorised in the UK, and licensed by the Central Bank of Ireland in the EEA), safeguards customer funds separately from company funds, and protects accounts with controls like 2‑step verification and PCI‑DSS security.
