Wise vs Revolut vs Payoneer for Paying Chinese Suppliers (2025)
I’ve paid Chinese suppliers via Wise, Revolut, and Payoneer dozens of times each. The marketing pitches all sound the same: “low fees, real exchange rate, fast delivery.” The actual experience is different across the three, and the supplier’s acceptance behavior is often the deciding factor — not the headline fee.
This is the side-by-side comparison I wish I had when I started.
The headline numbers, side by side
For a typical $2,000 transfer to a Chinese supplier in USD (most common payout currency for Chinese factories):
| Service | All-in fee (% of transfer) | Settlement time | Supplier acceptance | Max single transfer |
|---|---|---|---|---|
| Wise | 0.50-0.65% | 1-2 business days | High (most factories accept) | $1M+ (verified) |
| Revolut Business | 0.40-1.00% | Same day to 2 days | Medium-high | $250k/month |
| Payoneer | 1.50-2.00% | 1-3 business days | Very high (factories prefer) | $1M+ |
Per $2,000 transfer:
- Wise: ~$11
- Revolut Business: ~$13 (assuming standard plan)
- Payoneer: ~$33
The headline winner on cost is Wise. But the right answer depends on three other factors: supplier acceptance, settlement currency, and your transfer volume.
Wise: the default for most importers
How it works: You hold balances in 40+ currencies. To pay a supplier, you fund USD (or any other currency) and Wise sends a SWIFT or local transfer to the supplier’s bank. The exchange happens at the mid-market rate; Wise charges a flat fee + small variable %.
Real fee, March 2025: $1,800 to a Shenzhen supplier’s USD account at Bank of China.
- Transfer fee: $6.40
- FX spread (USD → USD, no FX): $0
- Total cost: $6.40 = 0.36%
- Arrived: 32 hours
Real fee, January 2025: $3,200 equivalent to a Yiwu supplier in CNY at China Merchants Bank.
- Transfer fee: $4.80 + 0.42% variable = ~$18 total
- Arrived: 1 business day
Where Wise wins:
- Low all-in cost for USD-to-USD payouts
- Supplier-side: low or zero receiving fee in most cases
- Transparent — no surprise charges, every fee shown in advance
- Multi-currency wallet useful for paying suppliers in different currencies (some Yiwu suppliers prefer CNY direct)
Where Wise loses:
- Some Chinese supplier banks (small regional banks) don’t accept Wise’s intermediary bank routing — supplier reports “money not received” even though Wise shows delivered, takes days to trace
- Large single transfers above $20k may be flagged for compliance review
- Wise will not pay to Chinese personal accounts (only registered company accounts) — actually this is a feature, not a bug, but trips up some buyers
Revolut Business: improving but inconsistent
How it works: similar to Wise — multi-currency business account with international transfers. Owned by a UK-based fintech bank.
Real fee, October 2024: $2,400 to a Guangzhou supplier USD account.
- Plan-allowance transfer (Revolut Business Free includes 5 free international transfers/month)
- Transfer fee: $0 (within monthly allowance)
- FX: 0% (USD to USD)
- Total: $0
- Arrived: 4 hours (very fast)
Where Revolut wins:
- Monthly free transfer allowance on Business plans (5 free on Free plan, more on paid plans)
- Genuinely fast settlement when supplier bank cooperates
- Strong UI for tracking, categorization, multi-currency balances
- Cheaper than Wise if you stay within the free allowance and transfer in volume
Where Revolut loses:
- Outside business hours and weekends, fees rise (e.g., +1% weekend FX markup historically)
- Geographic availability matters — fewer countries supported than Wise
- Compliance reviews on first international transfers can hold funds 2-7 days (Revolut historically has stricter onboarding)
- Some Chinese supplier banks have flagged Revolut transfers and asked for additional sender info
Best for: UK/EU-based small importers doing 3-10 transfers/month who can stay within free allowances.
Payoneer: when the supplier asks for it
How it works: Payoneer is an older, more traditional cross-border payment network. You fund a Payoneer balance (via wire, card, or marketplace payouts), then pay suppliers — many Chinese factories have Payoneer accounts and accept “Payoneer to Payoneer” transfers.
Real fee, August 2024: $1,400 Payoneer-to-Payoneer to a Shenzhen electronics supplier.
- Transfer fee: $0 (Payoneer-to-Payoneer is free for the sender)
- Recipient pays ~1% to withdraw to their Chinese bank
- Total cost to me: $0
- Total cost to supplier: ~$14
But the supplier often passes their withdrawal fee back to you as a 1-2% price markup.
Real fee, December 2024: $2,800 via Payoneer “Make a Payment” service to a non-Payoneer supplier bank.
- Transfer fee: 2% = $56
- Arrived: 2 business days
Where Payoneer wins:
- Many Chinese suppliers, especially those exporting to Amazon sellers, already have and prefer Payoneer accounts (they get marketplace payouts via Payoneer)
- Payoneer-to-Payoneer transfers are instant and “free” to sender
- Less compliance friction than Wise/Revolut for cross-border B2B
- Works well for low-volume buyers (no need to wire-fund balance)
Where Payoneer loses:
- 2% direct-payment fee is higher than Wise/Revolut
- Less transparent FX
- Customer service has historically been slower than Wise
Best for: buyers whose suppliers already use Payoneer and quote Payoneer-friendly prices; Amazon sellers who already receive Amazon payouts in Payoneer (no funding step needed).
Bank wire (T/T) — the baseline to beat
For comparison: a traditional bank wire from a US business bank (Chase, BofA, Mercury, Brex) costs:
- $5-25 outgoing wire fee
- $15-25 intermediary bank fee (deducted in transit)
- 1-1.5% FX spread (if currency conversion)
- 1-3 business days
Total cost on $2,000 transfer: ~$40-60 = 2-3% of transfer.
Wise and Revolut beat bank wires by 60-80% on small transfers. On transfers above $20,000, the bank wire absolute fee starts to look competitive again, but FX spread is still typically worse than Wise.
Decision tree by order size
Under $500 (samples, deposits): use PayPal despite the high fee — buyer protection is worth more than the $20 fee savings.
$500-$5,000 (typical first orders): use Wise as the default. Cheapest reliable option. If supplier insists on Payoneer, switch to Payoneer and negotiate the 1-2% off the product price.
$5,000-$20,000 (production orders): Wise for USD payouts, or Revolut Business if you have a paid plan with monthly allowances. Bank wire if your bank gives free outgoing wires (some business banks do).
$20,000+ (large orders): consider bank wire (T/T) with your business bank — the absolute fee is small as a percent, and many banks offer better FX on large transfers. Always wire to a verified company account; never to personal accounts.
Buying RMB on 1688: use a 1688 sourcing agent — Wise/Revolut/Payoneer don’t pay to Alipay or WeChat Pay accounts that most 1688 sellers use.
What suppliers actually accept
Asking 12 Chinese suppliers I’ve worked with which payment method they prefer:
- 9 of 12: bank wire (T/T) preferred — most familiar, easiest reconciliation
- 6 of 12: Trade Assurance (escrow) — they accept it because buyers insist
- 5 of 12: Payoneer — particularly suppliers serving Amazon FBA sellers
- 4 of 12: Wise — increasingly accepted; some bank reconciliation issues still
- 2 of 12: Revolut — limited adoption
- 8 of 12: PayPal — accepted but with 4-7% price markup
Acceptance bias: factories serving Amazon FBA sellers (Shenzhen electronics, Yiwu small goods) accept Payoneer easily. Industrial/B2B factories (Foshan furniture, Wenzhou packaging) default to bank wire.
My current setup
- Wise as the primary multi-currency operating account for paying suppliers, freight forwarders, and contractors
- Payoneer as a backup for the 2-3 suppliers who refuse anything else and quote 1.5-2% lower if I pay Payoneer
- Bank wire (Mercury) for any single transfer above $25,000 where the absolute fee % is below 0.1%
- PayPal Business strictly for samples and one-off small payments
See how to pay Chinese suppliers from overseas for the full payment methods comparison including bank wire mechanics.
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