Payoneer alternatives in Egypt: 2026 guide for freelancers
Last Updated: January 2026
This guide compares alternatives like Cenoa, Elevate Pay, Grey, and others, helping you choose the best low-fee option for receiving international payments.
Platforms that do NOT work well
1. PayPal
PayPal works in Egypt but with significant restrictions:
30-day hold: Received funds held for 30 days before release
Withdrawal method: Only to Visa cards or US bank accounts
No bank linking: Cannot link Egyptian bank accounts
No Friends & Family: Only Goods & Services payments
Meeza cards: Not supported
Withdrawal fee: 79 EGP (on-demand) or free (end-of-month)
📌 The 30-day hold makes PayPal impractical for regular freelance income. Funds are automatically transferred to your linked Visa card at the end of each month.
2. Wise
Wise is available in Egypt but with key limitations. The Wise card is not available to Egyptian residents.
What works:
Opening an account
Receiving transfers
Holding USD/EUR/GBP
Converting currencies
What doesn't work:
Sending money FROM EGP
Wise debit card
📌 Wise is useful if clients send money to your Wise account, which you can then withdraw to an Egyptian bank. But the lack of a Wise card and inability to send from EGP limits its usefulness.
3. Skrill
Skrill is available in Egypt but fees are high:
Bank withdrawal: 1.75% (min EUR 3.50)
Card withdrawal: 1.99% (min EUR 0.99)
Currency conversion: 3.99%
Inactivity fee: €5/month after 6 months
📌 Total cost for a $1,000 withdrawal with conversion: approximately 5.7% ($57). Not recommended for regular use.
Platforms that work
1. Payoneer
The most established option for Egyptian freelancers. Integrated with Upwork, Fiverr, Amazon, and most freelance marketplaces.
Get paid: 1%
Withdraw: 3%
Withdraw in local currency: 4.5%
Total: 8.5%
📌 Total cost for $1,000 with EGP conversion: $85 (8.5%). You keep $915. Payoneer works reliably but fees add up. Cannot hold EGP in your account.
2. Grey
Grey is a fintech that explicitly serves Egyptian freelancers with multi-currency accounts.
ACH deposit (USD): 0.8% (min $2, max $10)
SEPA deposit (EUR): 0.8% (min €2, max €10)
FPS deposit (GBP): 0.8% (min £2, max £10)
Currency conversion: 1% (capped at $6)
Cross-border card: 2% + $0.50
Monthly fee: None
📌 Total cost for $1,000: approximately $14-16 (1.4-1.6%). Grey provides US, UK, and EU bank account details plus a USD virtual card that works in Egypt.
Limitations: Daily deposit limit of $5,000, monthly limit of $30,000.
4. Elevate Pay
Elevate Pay specifically serves freelancers in Egypt, Pakistan, Bangladesh, and the Philippines.
Receiving payments: Free
Withdrawal: $1.50 flat + FX
Account opening: Free
Monthly fee: None
FDIC-insured up to $250,000 through Bangor Savings Bank.
📌 Elevate Pay has no receiving fees, making it attractive for freelancers. The main cost is FX conversion when withdrawing to EGP.
5. Cenoa
Cenoa provides a US bank account for freelancers with the lowest total fee structure.
Get paid: 0.5%
Withdraw: 0
Withdraw in local currency: 0.49%
Account opening: Free
Monthly fee: None
Total: 0.99%
How it works:
- Sign up and complete verification
- Get your US bank account details (account number + routing number)
- Share with clients or add to freelance platforms
- Receive USD, convert to EGP, withdraw to your Egyptian bank
📌 Cenoa uses the mid-market exchange rate with no hidden markup.
Fee Comparison
Cenoa:
Get paid: 0.5%
Withdraw: 0
Withdraw in local currency: 0.49%
Total: 0.99%
Payoneer:
Get paid: 1%
Withdraw: 3%
Withdraw in local currency: 4.5%
Total: 8.5%
Grey:
Get paid: 0.8% (max $10)
Withdraw: Varies
Withdraw in local currency: 1% (max $6)
Total: ~1.5-1.8%
Elevate Pay:
Get paid: Free
Withdraw: $1.50
Withdraw in local currency: Competitive
Total: ~1-1.5%
Skrill:
Get paid: Free
Withdraw: 1.75%
Withdraw in local currency: 3.99%
Total: ~5.7%
Cost example: $1,000 USD payment
What you keep after all fees:
Cenoa: $10 fees (0.99%) → You keep $990
Elevate Pay: ~$10-15 fees (1-1.5%) → You keep $985-990
Grey: ~$15-18 fees (1.5-1.8%) → You keep $982-985
Payoneer: $85 fees (8.5%) → You keep $915
Skrill: ~$57 fees (5.7%) → You keep $943
📌 For a freelancer earning $2,000/month, switching from Payoneer to Cenoa saves $150 monthly, or $1,800 per year.
Which platform should you use?
If you work on Upwork or Fiverr: Add your Cenoa or Grey US bank account as a direct deposit method. This avoids Payoneer's receiving fee.
If you have direct clients: Cenoa or Elevate Pay. Share your US bank details with clients. They pay via ACH or wire.
If you need a USD card: Grey offers a virtual USD card for Egyptian users. Wise cards are not available in Egypt.
If you need maximum marketplace compatibility: Payoneer. Despite higher fees, it works with nearly every freelance platform.
Recommended setup
Primary account: Cenoa for lowest fees
Secondary account: Payoneer for platforms that require it
📌 This gives flexibility while minimizing fees on direct payments.
How to switch from Payoneer
Create a Cenoa account at cenoa.com
Complete verification with your Egyptian ID or passport
Get your US bank account details
Update payment settings on Upwork, Fiverr, or other platforms
New payments go to Cenoa
Withdraw existing Payoneer balance, then use Cenoa going forward
Frequently Asked Questions
Can Egyptians open a Wise account?
Yes, but with limitations. You can open an account, receive money, and hold balances. However, the Wise card is not available to Egyptian residents and you cannot send from EGP.
Is PayPal usable in Egypt?
Technically yes, but the 30-day hold on received funds makes it impractical. Withdrawals are only to Visa cards, not bank accounts.
How long do withdrawals to Egyptian banks take?
Cenoa: Same-day to 1-2 business days
Grey: 1-2 business days
Payoneer: 2-5 business days
Do I need a domiciliary (USD) account in Egypt?
No. Services like Cenoa and Grey convert to EGP and send directly to your regular bank account.
What documents do I need to sign up?
Most platforms require: valid ID (passport or Egyptian national ID) and proof of address.
Conclusion
Egyptian freelancers have several alternatives to Payoneer's 8.5% fees:
Cenoa: 0.99% total — Lowest fees
Elevate Pay: ~1-1.5% total — Free receiving
Grey: ~1.5-1.8% total — Multi-currency + USD card
Payoneer: 8.5% total — Platform compatibility
For a freelancer earning $2,000/month, switching from Payoneer to Cenoa saves $1,800 per year.
Platforms that don't work well: PayPal (30-day hold), Wise (no card), Skrill (high fees).
👉🏻 Sign up for Cenoa and start keeping more of what you earn.
