Electronic wallets are a great alternative for banks. Unlike banks, e-wallets have very simple procedures. In a matter of seconds you can open an account, no requirements, access an account to receive money worldwide.
Electronic wallets are gaining a huge place in the market as it is very simple for the customers.
In this article, we will analyze the seven best e-wallets, their pros, cons, advantages, and everything you need to know.
1.Payoneer
There is no monthly maintenance on the Payoneer account so you can open a free account at any time.
The company offers its users accounts in USD, EUR, GBP, JPY, CAD, AUD, and MXN, in which you can withdraw money as if you had a bank account.
Payoneer transaction fees are very low and it is the best account to get money internationally.
With Payoneer MasterCard, you can use your money to buy items at stores or online or withdraw cash at ATMs.
It is a highly preferred option by affiliate marketers, entrepreneurs, freelancers, and publishers.
It has the best tools for companies to send and receive massive payments to customers and independent employees.
Since Payoneer is a very popular company, many giant companies pay their users with Payoneer like Fiverr, Airbnb, MaxBounty, Upwork.
Undoubtedly, Payoneer is the best electronic wallet, so it ranks first on this list.
Pros:
- You can receive money internationally
- Accounts in USD, EUR, GBP, JPY, CAD, AUD, and MXN.
- Low fees and commissions
- Account maintenance is free
- Mastercard Prepaid Card offers
- Many companies pay their customers for Payoneer
Cons:
- Personalized customer service sometimes takes time to respond.
2. Skrill
With a Skrill account, you can send and receive money to any country in the world. More specifically, you can send money to bank accounts worldwide.
It offers a virtual wallet to save your funds, spend with a prepaid card, buy online, or withdraw money.
The Skrill Prepaid MasterCard has a very low cost. So it’s an excellent tool to withdraw money at ATM or spend online or at local stores.
Furthermore, it provides maximum protection as it is regulated by the FCA (Financial Conduct Authority), an organization that regulates financial companies. The purpose of this organization is to control its financial movements and to ensure the rights of consumers.
Pros:
- Facilitates global transactions
- Provides prepaid MasterCard at low cost
- Low rates
- Free account
- Also offers a Cryptocurrency wallet
Cons:
- VIP programs may have a very high barrier
3. Payeer
Payeer is an excellent electronic wallet that allows you to send and receive money at low rates.
By creating your account, you can automatically access a cryptocurrency wallet. So this is better too.
It has many types of deposits and withdrawals, so it offers the best selection of types.
This also has the advantage of being able to integrate their payment method with your website.
Account opening is completely free and available in over 127 countries around the world. No account maintenance.
Pros:
- Offers an IBAN WorldWide account
- Free account maintenance.
- Available in more than 127 countries.
- Easy and quick to open an account
- It’s regulated by the VFSC.
Cons:
- Support only through tickets
4. Revolut
In all your accounts, you have a European IBAN account to receive payments worldwide.
One of its great benefits is that it additionally offers a crypto wallet. You can buy Bitcoin, Litecoin, Bitcoin Cash, XRP, and Ethereum. However, it is only available in premium and metal accounts.
Also, like most virtual wallets, you have any prepaid card that you can request from any country in the world.
Revolut offers its customers special benefits such as certain discounts and rewards for using the card.
Pros:
- Low and simple rates
- It also has a crypto wallet
- Offers travel insurance at a low cost
- Special prizes and discounts
- There are no maintenance fees in standard accounts
Cons:
- Premium accounts and metal charge maintenance
5. ecoPayz
ecoPayz is a platform for secure payments with maximum privacy. With a single click to register on ECOPayz, you can access all its benefits.
Opening an account on ecoPayz is easy and quick. With a few steps, you already have access to your account and all its benefits.
The rates are, in general, reasonable, and there is no maintenance cost in the account when active. If you do not make any transaction for more than 12 months, you will be charged $ 1.67 per month.
In ecoPayz, you have different payment and deposit methods. To make a deposit, you can do it by debit/credit card, vouchers, Western Union, bank transfer, or Yandex.
You can ask for an eco Card which is a prepaid card to use your balance. This card can be ordered in USD, EUR, or GBP. It also offers a single application card, the ecoVirtualCard.
Pros:
- Offers ecoCard / ecoVirtualCard
- Exclusive prizes for its users
- All account types are free
- Various withdrawal/deposit methods
Cons:
- If the account remains active for more than 12 months, they charge USD 1.67 per month.
6. Paxum
Sending and receiving money through Paxum is very easy and by opening an account, you can access the activity.
With an IBAN account in EUR and USD, you can receive international bank transfers as if you had a bank account
Paxum offers its users prepaid cards and cash withdrawals at ATMs.
This is a great wallet for freelancers, affiliates, and people who get paid in dollars or euros.
Pros:
- Dedicated IBAN account to receiving payments in USD and EUR
- Various withdrawal and transfer methods
- Many companies pay through Paxum
- It has benefits for companies
Cons:
- The costs to send/receive money to your bank account are high
7. TransferWise
TransferWise is a great platform to make international transfers. It provides a worldwide usage-free account.
TransferWise ranks last on the list of "best e-wallets", but it is not inferior to the previous one. But it is also the best company in service and customer service specialties. So, we think choosing this wallet is a "smart" decision.
All of their ratios are reasonable, and you can even see the origin of these ratios. So I think its transparency level is excellent.
It offers an unlimited account in which you can withdraw money from all over the world.
Besides, there are no maintenance costs for the MasterCard card. It is the only company that does not charge for maintenance (if all of the above charges an annual fee).
Pros:
- Low commissions to transfer money
- More than 60 currencies available
- Free borderless account
- High level of transparency and security
- FCA regulated company
- The MasterCard card has no maintenance costs
Cons:
Some transfers may take a few days to be credited.
All the wallets mentioned above have online links below
1) Payoneer is the main online payment organization. It offers a free virtual wallet to every one of its clients.
2) Skrill is another incredible virtual wallet for making and receiving payments around the world. It is a leader in transactions and anti-fraud technology.
3) Payeer is an incredible payment solution to trade money internationally. With this virtual wallet, Access every one of your advantages.
4) Revolut is another unimaginable virtual wallet for making and receiving payments around the world. It has an app that is very simple to use.
5) ecoPayz is an organization to make secure payments with maximum privacy. With a single click to sign up for ecoPayz, you can get to every one of its advantages.
6) Paxum is a Canadian organization that offers paid services and electronic wallets to every one of its customers.
7) TransferWise is a great platform to make international transfers. It provides a worldwide usage-free account.
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