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Paychex vs Payoneer

Paychex logo

Paychex

Software

HR solutions built for your business

From
$29/month
Rated
-
Full reviewWebsite
Payoneer logo

Payoneer

Software

One account. Infinite opportunities.

From
$29/month
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Paychex paychex Flex pricing is not published; it depends on employee count and business needs and requires contacting sales for a custom quote across Select, Pro and Enterprise tiers; Payoneer an annual account fee of $29.95 USD applies if the account receives less than $6,000 USD in any 12 consecutive months
  • They diverge on capability: Paychex covers Payroll processing, Payoneer covers Receive payments.

Where they differ

Only the attributes on which Paychex and Payoneer actually diverge.

Attributes where Paychex and Payoneer differ
AttributePaychexPayoneer
Pricing modelsubscriptionusage-based
Founded19712005

Identical on both: starting price ($29/month), free tier (No), platforms (Web, Ios, Android), user rating (Not yet rated), category (Unknown).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Paychex

  • Payroll processing
  • HR services
  • Benefits administration
  • Time & attendance
  • PEO services
  • QuickBooks
  • Xero
  • Sage

Only in Payoneer

  • Receive payments
  • Multi-currency accounts
  • Working capital
  • Mass payouts
  • Marketplace integrations
  • Amazon
  • Fiverr
  • Upwork

Both cover

  • Web support
  • Ios support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

Paychex

  • Businesses with 1 to 250+ employees needing payroll, willing to get a custom quote rather than self-serve pricingnot Payoneer

Payoneer

  • Receiving marketplace and platform payouts as a freelancer or sellernot Paychex
  • Holding receiving accounts in several currenciesnot Paychex
  • Paying suppliers and withdrawing to a local bank accountnot Paychex

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Paychex

  • Paychex Flex pricing is not published; it depends on employee count and business needs and requires contacting sales for a custom quote across Select, Pro and Enterprise tiers

Payoneer

  • An annual account fee of $29.95 USD applies if the account receives less than $6,000 USD in any 12 consecutive months
  • The Payoneer card carries a $29.95 USD annual fee and $12.95 USD for a replacement
  • Converting between Payoneer balances in different currencies costs 0.50%
  • Receiving into a non local currency receiving account costs 1%, minimum $1.00 USD
  • Receiving by credit card costs up to 3.99% plus $0.49 USD
  • Withdrawing to a bank in the recipient's local currency costs 1.2% to 4%
  • ATM withdrawals cost $3.15 USD plus up to 1.8%, rising to 3.5% when currency is converted
  • Card purchases requiring conversion cost up to 3.5%

Pricing, plan by plan

Paychex

$29/month
  • Flex Essentials$39/month
    • Payroll
    • Tax administration
    • Direct deposit
  • Flex Select$59/month
    • HR administration
    • State unemployment insurance
    • New hire reporting

Payoneer

$29/month
  • StandardFree
    • Receive payments
    • Multi-currency
    • Marketplace connections

Which should you pick?

Choose Paychex if

  • You need payroll processing.
  • You work on Web, Ios, Android.
  • You also want hr services.
Paychex review

Choose Payoneer if

  • You need receive payments.
  • You work on Web, Ios, Android.
  • You also want multi-currency accounts.
Payoneer review

Questions people ask

Is Paychex or Payoneer better?
Neither clearly leads. Paychex starts at $29/month and Payoneer at $29/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Paychex or Payoneer?
Paychex starts at $29/month and Payoneer at $29/month.
Does Paychex or Payoneer run on more platforms?
Both run on Web, Ios, Android, so platform support will not decide this one for you.
What is Paychex best used for?
Paychex is most often used for businesses with 1 to 250+ employees needing payroll, willing to get a custom quote rather than self-serve pricing. Of those, businesses with 1 to 250+ employees needing payroll, willing to get a custom quote rather than self-serve pricing is not what Payoneer is typically brought in for.
What can Paychex do that Payoneer cannot?
Paychex covers Payroll processing, HR services, Benefits administration, Time & attendance. Payoneer covers Receive payments, Multi-currency accounts, Working capital, Mass payouts. Both handle Web support, Ios support, Android support.
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