Payoneer vs Wise vs Mercury: Which One Should Your U.S. LLC Use?

As a non-U.S. resident operating a U.S.-registered LLC, choosing the right financial platform can be crucial for smooth operations, receiving payments, and global scaling. Three major players often come into play: Payoneer, Wise (formerly TransferWise), and Mercury Bank. Each has its unique features, advantages, and limitations. Here's a detailed comparison to help you choose the right solution for your business.

🔹 1. Payoneer

✅ Best for: eCommerce sellers, freelancers, affiliate marketers

🔧 Key Features

• Virtual receiving accounts (USD, EUR, GBP, etc.)

• Global payment service for platforms like Amazon, Fiverr, Upwork

• Mastercard prepaid card available

• Integrations with marketplaces

• Withdraw funds to local bank accounts

💰 Fees

• Receiving payments: Free from Payoneer to Payoneer; fees apply from platforms

• Currency conversion: ~2% above mid-market

• Withdrawals to local bank: ~$1.50–$5.00 depending on country

🟢 Pros

• Trusted by major marketplaces

• Supports non-residents without SSN/ITIN

• Works well for global payouts

🔴 Cons

• Customer support can be slow

• High FX conversion fees
  

🔹 2. Wise

✅ Best for: International transfers, freelancers, remote teams

🔧 Key Features

• Multi-currency account

• Real exchange rate (lowest FX fees)

• Receive USD, EUR, GBP, CAD, etc.

• Wise Business account supports LLCs

💰 Fees

• Currency conversion: ~0.35%–1%

• Receiving payments: Free for most currencies

• Bank transfer: Low fixed fees

🟢 Pros

• Transparent pricing

• Fast transfers

• Low conversion rates

🔴 Cons

• Cannot accept ACH direct debit (limited for Stripe)

• No physical card for U.S. entities (as of now)
  

🔹 3. Mercury Bank

✅ Best for: SaaS founders, tech startups, LLCs with U.S. operations

🔧 Key Features

• U.S. business bank account (FDIC insured)

• API access, virtual cards, team permissions

• Stripe, PayPal, Shopify compatible

• Integrated with QuickBooks and bookkeeping tools

💰 Fees

• Free ACH, wires (domestic)

• International wire: $15–$20

• No monthly fees

🟢 Pros

• Designed for startups

• Accepts international founders with U.S. LLC

• No hidden fees

🔴 Cons

• Requires EIN and U.S. address (virtual okay)

• Approval process may take time
  

📊 Comparison Table

Feature	Payoneer	Wise	Mercury Bank
Supports Non-U.S. Residents	✅	✅	✅
Multi-Currency Accounts	✅	✅	❌ (USD only)
Physical Debit Card	✅	❌	✅ (Virtual & Physical)
Stripe & PayPal Compatible	✅	❌ (limited)	✅
ACH & Wire Transfers	✅	✅	✅
Fees	Medium	Low	Low
Best For	eCom & Freelance	Remote Teams	Startups & SaaS

🧠 Final Thoughts: Which One Should You Choose?

• Choose Payoneer if you’re an eCommerce seller or freelancer needing global payout solutions from platforms like Amazon, Fiverr, or Upwork.

• Choose Wise if you’re focused on low-cost international transfers, managing multiple currencies, and working with international teams.

• Choose Mercury if you’re a SaaS startup founder or agency looking for a full-featured U.S. business bank account that integrates with financial tools and payment platforms.
  

📌 Pro Tip from TechX Strategies:

You don’t need to choose just one. Many successful founders use a combo:

• Mercury for U.S. banking & Stripe

• Wise for currency conversion

• Payoneer for platform payouts
  

Need help setting up your LLC or business accounts as a non-U.S. founder? TechX offers end-to-end guidance — from EIN to Stripe setup.

📩 DM us or visit techxstrategies.com to get started.