06/02/2026
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Friendly comparison of the three main payment platforms commonly used by Filipino freelancers and VAs.
💳 1. PayPal
🔗 https://www.paypal.com/
What it is: One of the oldest and most widely used online payment platforms in the world - great for invoicing and receiving payments from clients.
✅ Advantages
✔ Very widely accepted globally
✔ Easy to use for sending/receiving payments
✔ Instant transfers to other PayPal users
✔ Good seller protection in some cases
❌ Disadvantages
❗ High currency conversion fees (often 3–4% markup)
❗ Can hold funds for up to 21 days on new/inactive accounts or during disputes
❗ Can be expensive when clients send international payments
Best for: Freelancers whose clients already prefer PayPal and who need simple global payment acceptance.
💼 2. Payoneer
🔗 https://www.payoneer.com/
What it is: A widely used platform among freelancers, agencies, and online sellers especially good for receiving international payments and connecting with freelancing marketplaces like Upwork and Fiverr.
✅ Advantages
✔ Good integration with Upwork, Fiverr, and other platforms
✔ Offers multi-currency receiving accounts
✔ Lower fees for many international transfers compared to PayPal
✔ Prepaid debit card available for spending or ATM withdrawals
❌ Disadvantages
❗ Annual account and card fees can apply if activity is low
❗ Currency conversion fees and some withdrawal fees are still significant
❗ May take 1–2 business days for bank withdrawals
Best for: Freelancers who work frequently with international platforms or multiple clients.
🌍 3. Wise (formerly TransferWise)
🔗 https://wise.com/
What it is: A payment platform known for transparent fees and fair exchange rates. Many freelancers like Wise because it uses the real “mid-market” exchange rate.
✅ Advantages
✔ Low, transparent fees and mid-market exchange rates (no hidden markup)
✔ Can hold multiple currencies (USD, PHP, EUR, etc.)
✔ Fast transfer speeds in many cases, including local PHP systems
✔ Local bank details in multiple countries to receive funds like a local
❌ Disadvantages
❗ Not every client automatically knows how to send payments via Wise (requires setup)
❗ Some transfers may take up to 2 business days
❗ Limited buyer/seller protection tools compared to PayPal
Best for: Freelancers who want to maximize earnings by reducing fees and better exchange rates, especially if many clients pay in foreign currencies.
- Content by: The VA Guides
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