Payoneer vs Wire Transfer


Payoneer vs Amazon
I recently published an illustrated chapter book for 6-9 year old readers called Fairy Tails: Little Red. Get the ebook free when you buy the paperback at Amazon.

I’ll be writing more about my publishing journey, but today I want to share something I created to help me make an important decision – how to get paid.

My ebook was exclusive to Amazon, but the paperback is available through Ingram, and the ebook is now available from Google Play Books, iBooks, B&N, Kobo and more. That potentially leads lots of small payments, which could quickly end up being eaten by fees. Luckily Ingram, Google, Apple all pay one amount in $AUD by EFT into my account – quick and easy. Unfortunately Amazon, KDP (Kindle Direct Publishing) and Createspace, don’t make it quite so easy.

Being in Australia I have three options for being paid by Amazon: Check, Wire transfer, or a service like Payoneer, and two options for being paid by Createspace: Check or Payoneer. At my bank, overseas checks cost $15 for under $2,000, $50 for over $2,000, and can take up to 6 weeks to clear. That immediately puts checks at the bottom of the list. Wire transfer costs $15, regardless of amount, and takes up to 2 days to clear.

Payoneer has different charges depending on whether you sign up as an individual or company. An individual with a Master Card will pay $30/yr plus 1% of each deposit, and 2-2.75% to transfer into your bank account. A company doesn’t have a Master Card, and pays 1% of each deposit and 2-2.75% to transfer to your bank account. The added benefit to both is that you can wait until the exchange rate is favorable before transferring it to your bank account.

Since Payoneer works on a percentage, and wire transfers are a fixed price per deposit, I figured that Payoneer would be the best choice for smaller amounts, and wire transfers would be the best choice for larger amounts. To avoid checks altogether I’ll need a Payoneer account regardless, but for Amazon I wondered what was the tipping point? I wanted to know how much would I need to be earning for wire transfers to be the better option.

There isn’t a simple answer since there are so many variables. How much you’re being paid, from how many territories (each territory is a separate deposit or transfer), and the amount your bank charges can all vary.

I setup a spreadsheet to calculate roughly when wire transfers become a better option than Payoneer, and I found it so interesting and useful that I thought I’d include it here for you to test for your own circumstances.

To use it, let’s say your Amazon earnings are a total of $1,000 per month, from 4 different territories:

1. Enter $1,000 for the Amount per Month (keeping in mind that you can’t receive less than $100 per territory as that’s the payment threshold).

2. Enter 4 into the Number of Territories.

3. Enter the amount your bank charges for wire transfers into the Transfer Fee.

4. Compare the results.

Earnings per Month

Amount per Territory: $0




Payoneer Total: $0


Amazon Total: $0

Let’s face it, no-one wants to pay the banks more than they have to. Hopefully this helps you figure out at what point you should switch payment options at Amazon to keep as much of your earnings as possible.

Things always change, and I’m hopeful that Amazon and Createspace will eventually offer EFT from all territories to Australia. Until then I’ll probably stick with Payoneer for Createspace payments, but now I feel confident that I’ll know when to change Amazon payment options from Payoneer to wire transfer.


Sign up to Payoneer using this link and we both get $25 FREE*.
It’s a win for both of us.

* As soon as you receive $100 in payments.


Looking for something to read to the kids? Check out my new book Fairy Tails: Little Red. It’ll give you 2 weeks of bedtime stories. Get the ebook free when you buy the paperback at Amazon.