Raenest vs Payoneer for Filipinos: Which is Best for International Payments

If you are a Filipino freelancer, remote worker, or global earner, finding the best way to send and receive international payments in the Philippines is essential for your success.

In this comparison guide, you will learn about Raenest vs Payoneer, how they help Filipino freelancers and remote workers receive international payments, their features, costs, conversion rates, and why speed matters more than ever in today's economy.

Raenest vs Payoneer: Which is Faster?

Imagine your client finally approves your invoice on a Friday afternoon. With traditional platforms, your hard-earned money sits in limbo over the entire weekend. You then wait another one to three business days for the transfer to clear. By the time the funds actually reach your Philippine bank account, it’s already Wednesday. 

For instance, US withdrawals from Payoneer take 1 to 3 business days to reflect in your local bank account, and up to 5 business days for other countries.

However, with Raenest, funds can be converted to PHP within the platform, meaning payouts to your local account are significantly faster, often arriving the same day or within one business day. Beyond standard withdrawals, Raenest also offers two unique ways to speed up your cash flow:

• Receive Upwork payouts faster: Raenest FastTrack lets freelancers in the Philippines receive their Upwork earnings in under an hour, even on weekends. It completely bypasses the traditional multi-day waiting period.
• Stablecoin support: Raenest enables Filipino remote workers and freelancers to receive USDT and USDC via Ethereum, BNB Smart Chain, Polygon, Tron, and Solana. These transfers settle almost instantly, work on US bank holidays, and are automatically converted 1:1 to USD.

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An Affordable Way to Receive USD, GBP, and EUR in the Philippines (Raenest vs Payoneer)

Getting your money quickly is only half the equation; keeping as much of it as possible is the other.

Receiving Payments

Both platforms allow Filipino freelancers and remote workers to receive payments globally, but they take very different approaches to pricing.

Payoneer allows you to receive payments through direct requests, marketplaces, ACH, and SWIFT. However, their fee structure is noticeably higher and relies on uncapped percentages:

• Receiving ACH (US), GBP, and EUR payments: 1% uncapped fee.
• Receiving via credit card: 3% fee (up to a $15,000 limit).
• SWIFT: Typically $15 to $30.
• Annual maintenance fee: $29.95 (if you receive under $2,000 in a 12-month period).

Raenest, by contrast, operates on a transparent, low-fee model designed to be much more affordable. No matter how much money comes in, most fees have a hard ceiling. Filipino professionals can open multicurrency accounts to receive USD, GBP, and EUR (via ACH, SWIFT, payment links, automated invoicing, internal transfers, and stablecoins) while enjoying:

• Free deposits: You currently get four free deposits every month across ACH, domestic wires, EUR, and GBP (Note: SWIFT payments are not included in free deposits).
• Standard deposit fee: After your 4 free deposits, ACH, GBP, and EUR deposits incur a low 0.8% fee. The minimum fee is just $1.50 / £1.50 / €1.50, and it is capped at $10 / £10 / €10.
• Low fees on SWIFT payments: The minimum fee is as low as $7.
• Annual fees: $0. There are no minimum balance requirements or yearly penalties.

Conversion Fees

Once the money is in your account, you eventually need to convert it to Philippine Pesos (PHP). This is where hidden fees often eat into your profits.

Payoneer converts your funds using their own exchange rates, adding a currency conversion margin of up to 3.5% above the mid-market rate. On a $5,000 transfer to your PHP bank account, you could spend up to $175 on conversion fees before the money even reaches you.

However, Raenest uses a transparent, more affordable conversion fee model. To convert USD, GBP, or EUR to PHP, Raenest charges a flat 0.6%. Even better, this fee is capped at $6 / £6 / €6. That same $5,000 transfer will only cost you a flat $6 in conversion fees on Raenest.

Sending Payments

Payoneer allows you to send money to many countries, but often imposes a minimum transfer limit of $50, even between two Payoneer users. On the other hand, Raenest lets you send and receive money for free from other Raenest users. You can also send funds in USD, GBP, EUR, PHP, INR, CAD, and more to over 160 countries at affordable rates.

Built for the Filipino Global Earner.

If you earn globally in the Philippines and want an account that gives you direct access to multiple currency accounts, transparent fees, and a clear compliance structure, Raenest is the right choice. By switching, you can:

• Open multi-currency accounts in USD, GBP, and EUR.
• Receive international payments, including salaries, freelance payments (from platforms like Upwork, Fiverr, and Contra), and direct transfers from clients.
• Get your Upwork payments in under 60 minutes with Raenest FastTrack, even on weekends.
• Receive USDT and USDC, automatically converted to USD with the same value and no delays, even on banking holidays.
• Create professional invoices for one-time and recurring payments in minutes.
• Convert to PHP at any time at competitive rates and withdraw to your Indian bank account.
• Send money worldwide to over 160 countries.
• Enjoy better rates, fast transfers, low fees, and four free monthly deposits.

‍Final thoughts: Ultimately, the choice comes down to transparency and speed. Payoneer remains a solid option for those who are willing to accept percentage-based fees or wait days for bank transfers. However, if you want guaranteed fee caps, real-time market exchange rates, zero annual maintenance costs, and the ability to receive Upwork payouts in under an hour, Raenest is the clear winner for the modern Filipino workforce. Ready to start receiving payments directly with Raenest? Create a free Raenest account today.