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Grey vs Payoneer
Grey and Payoneer are both payment receiving platforms. Fees — Grey: No account fees, FX conversion margin. Payoneer: Withdrawals 1.2-4% ($1.50 USD to US), 0.5% conversion, $29.95/yr if under $6K.
Updated · from each platform’s published fees and payout terms · how we verify
Key differences
- Fees — Grey: No account fees, FX conversion margin. Payoneer: Withdrawals 1.2-4% ($1.50 USD to US), 0.5% conversion, $29.95/yr if under $6K.
- Both pay out via Bank transfer. Only Grey offers Mobile money. Only Payoneer offers ATM card.
- Payoneer is the older platform — founded in 2005, 15 years before Grey (2020).
- Grey focuses on Nigeria, Kenya and Ghana, while Payoneer operates internationally.
Which should you choose?
Choose Grey if…
- You want to withdraw via Mobile money.
- You live in Nigeria, Kenya or Ghana.
Choose Payoneer if…
- You want to withdraw via ATM card.
- You prefer a long track record (since 2005).
Side by side
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Grey
Virtual USD, GBP, and EUR accounts for African freelancers - receive international payments and convert to loc…
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Payoneer
The freelancer favorite for international payments - receiving accounts in USD, EUR, GBP and more, connected d…
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|---|---|---|
| Type | Payment receiving like Payoneer | Payment receiving like Payoneer |
| Category | Payments | Payments |
| Vetted | No | No |
| Work from home | Yes | Yes |
| Fees | No account fees, FX conversion margin | Withdrawals 1.2-4% ($1.50 USD to US), 0.5% conversion, $29.95/yr if under $6K |
| Minimum payout | Varies by rail, including NGN 1000, GBP 20, EUR 20, KES 300, and MXN 10 | — |
| Withdraw via | Bank transfer, Mobile money | Bank transfer, ATM card |
| Availability | Nigeria, Kenya, Ghana, Uganda + LatAm/Asia markets | 190+ countries |
| Local to | Nigeria, Kenya, Ghana | — |
| Founded | 2020 | 2005 |
| Headquarters | Middletown, United States | New York, United States |
| Stock ticker | — | NASDAQ: PAYO |
| Popularity | 35 views · 0 likes | 70 views · 0 likes |
Frequently asked questions
Which is cheaper, Grey or Payoneer?
Grey: No account fees, FX conversion margin. Payoneer: Withdrawals 1.2-4% ($1.50 USD to US), 0.5% conversion, $29.95/yr if under $6K.
Where are Grey and Payoneer available?
Grey: Nigeria, Kenya, Ghana, Uganda + LatAm/Asia markets. Payoneer: 190+ countries.