If you receive your Awin commission payments via Payoneer, you can typically choose between receiving them in your local currency via Payoneer's local receiving account network or via international wire transfer (SWIFT) in USD, EUR, or GBP (depending on your locations). Both methods deliver your earnings, but they differ in cost, speed and transparency.
This article breaks down the key differences to help you choose the best option for your needs.
Cost and fees
- Local currency payout: Payoneer provides a fixed Foreign Exchange (FX) rate of 1.75% for local currency transactions processed by Awin. This rate is applied over currency exchange rates pulled from well-known public sources. The fixed rate makes fees predictable and eliminates hidden charges, giving you more control over what you’ll receive.
- Wire transfer (SWIFT): There is no FX fee, but your bank or intermediary banks may charge landing or processing fees. These fees vary by country and institution and can reduce your payout - sometimes by as much as 6%.
Speed of payment
- Local currency payout: Payments are typically delivered within 1–2 business days, as they are processed through Payoneer's local banking network.
- Wire transfer (SWIFT): Payments generally take 4–5 business days, depending on your bank and the number of intermediaries involved.
Which option should I choose?
Local currency payout is generally more efficient and cost-effective option. It offers a predictable FX rate, faster transfers, and fewer unexpected fees compared to wire transfers.
Wire transfer (SWIFT) may still be useful in certain cases, for example, if you need funds in a foreign currency (e.g., USD, EUR, GBP). However, it usually comes with higher costs and longer processing times.
How do I switch to local currency payout?
If you want to change your payout currency, the process depends on when you first set up your payments through Payoneer:
- Before January 2022 (You registered through a unique link ): Click Contact Support below for assistance.
- After January 2022 (You set up your Payoneer account through the Awin platform): You can update your details directly in the Awin Platform. Go to Account > Payment Details. Under the green Payoneer banner, click “Update Bank Account Details.” You’ll then need to re-enter your bank information and select your local currency.
To learn how to set up a Payoneer account as an Awin publisher, read How to set up your payment details with Payoneer - A step-by-step guide.
