According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- Over 180 countries
- No, the services are paid for separately
Currencies:
- 30 currencies
cryptocurrencies:
- No
Our Evaluation of Paysera
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Brief Look at Paysera
Paysera is a payment system offering its services in 180 countries. A user opens an account of IBAN type, can replenish it in any convenient way and transfer money to the accounts of residents of other countries. Euro is the base account currency, but the Paysera (Paysera Money Transfer) app has a built-in converter that converts 30 currencies at the market exchange rate. In offline stores, you can pay using the mobile app or a plastic card of the payment system. Paysera also offers a corporate account that allows businesses to accept payments online and offline, and the features for reporting aggregation and business process management. Transfers are free for individuals (in SEPA countries).
- A user can instantly transfer money inside the platform, to an account or card of any bank, and to an account in a different electronic payment system.
- The transaction fees for individuals are average or lower than average in the market (for example, cash withdrawal is charged with a EUR 1 fee regardless of the amount; the daily withdrawal limit is EUR 600).
- All transactions in the system are performed in euro, however, there is a built-in converter that supports 30 currency pairs. The exchange rate matches the current market rate.
- The mobile app aggregates all data on a user's transactions; there is contactless payment option in offline stores. You can order a Visa card.
- Paysera payment system (Paysera Money Transfer) offers a ready-made technology stack for accepting payments by online stores and physical points of sale.
- A corporate account allows you to automate reporting, open access to the account for the employees of the company by building a hierarchy and restricting authority.
- Paysera offers many integrated solutions, for example, parcel delivery, purchase/sale of tickets to events, gold trading with a possibility of physical issuance.
- The app does not offer as many online banking opportunities as the majority of competitors (for example, there are no overdraft and lending solutions).
- A number of useful features, like automation of accounting and taxation in compliance with the local laws, are missing for corporate accounts.
- The system works with the majority of developed countries, but if a country is not a member of SEPA/SEPA Instant, the fees are considerably higher, and the transfer processing time is longer.
TU Expert Advice
Author, Financial Expert at Traders Union
Paysera is a payment system operational in over 180 countries, offering individual and corporate IBAN accounts, currency exchanges, and transaction services via the Paysera Wallet platform. It provides a multi-currency account supporting 30 currencies with EUR as a base currency. Features include in-app currency conversion at market rates, instant transfers, and a mobile app for transaction management. Additionally, Paysera offers various integrated solutions for businesses, such as online and offline payment processing, reporting aggregation, and transaction security features including a Visa card for global use.
However, Paysera lacks certain online banking features like overdrafts and lending solutions, and corporate accounts may not offer automated accounting capabilities. Higher fees apply for transactions in non-SEPA countries, and transfer processing may be slower. Overall, Paysera's offerings may suit individuals and businesses looking for a straightforward payment system with moderate transaction costs and currency flexibility, but may not be ideal for those needing advanced banking services.
Paysera Summary
| 💼 Main types of accounts: | Individual and corporate |
|---|---|
| 💱 Multi-currency account: | Yes, 30 currencies |
| Deposit terms and conditions: | All main methods are available |
| Loan terms and conditions: | No subscription plans or fees |
| ☂ Deposit insurance: | A fee is charged separately for each service |
| 👛️ Savings options: | Savings accounts, reporting |
| Types of payment: | Electronic payments and transfers (for example, via PayPal), debit and credit cards of any bank |
| ➕ Additional features: | Currency exchange, parcel delivery, sale of tickets |
We should take a closer look at the mobile app of the platform, which you can install on any smartphone and control your account from. The app has a simple, intuitive functionality; if necessary it can be customized; you can set up notifications and report generation in real time mode based on the set criteria.
Transfers between individual and legal entities are performed literally in a few taps; they are instant and meet the modern standards of online banking. There are no restrictions on transfers to residents of over 180 countries. There are all standard features, including payment by QR code, request of funds, copying the transfer to several users at once.
Notably, you can hold the money in the account in 30 currencies. However, all transactions are performed in euro. A user either makes the conversion himself or it is done automatically during the transaction. In the majority of cases, the exchange rate in the app corresponds to the market rate, and sometimes can be better, especially if a user is converting a large amount.
As for international transfers, they are fully free for individuals with no limitations. For corporate clients, the fee is fixed at EUR 0.20 per transfer. These conditions apply to countries that work with the SEPA system. International transfers in other currencies are available, but they are not instant, and take 30 minutes on average. The quickest transfers are between the users of the platform; a transfer by a phone number or email is possible.
Finally, a Visa card allows you to pay in offline stores and withdraw cash from ATMs all around the world at minimum fees. Contactless NFC payments are available, as well as payment online. The 3-D Security technology is a guarantee of security of such payments.
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Paysera Commissions & Fees
Paysera (Paysera Money Transfer) does not charge individuals with account opening and servicing fees. If the amount held in the account exceeds EUR 10,000, the annual fee is EUR 0.50. For corporate clients, opening and servicing of the account is also free with the exception of certain regions and services. For example, the fee on the accounts of Latvian companies is EUR 3 per month. If a business is registered in one of the SEPA countries, the account opening fee is EUR 10 and servicing – EUR 1 per month.
The fees on transactions with cash through an ATM depend on the type of the ATM. For example, for Perlas ATMs, the fee is 0.05 % + 0.43 EUR on deposits, and the deposit limit is EUR 300. The withdrawal fee in these ATMs is fixed at EUR 1, limit – EUR 500. The conditions are different for Money Express ATMs: 0.50% of the amount of the deposit, but no less than EUR 0.60, 1.0% on withdrawals, but no less than 1.00 EUR. You can learn about other ATMs on the official website of the payment system.
Note that the fees on transfers for SEPA and SEPA Instant are different. Regional fees also differ. In the majority of cases, direct transfers are free, but, for example, for residents of Kosovo, the fee is EUR 3 per transfer (even if performed by an individual).
Traders Union also compared Paysera’s fees with similar types of fees on other e-payment systems.
| FastSpring | 2Checkout | Paysera | |
| Payment commission | 5.9% + $0.95 | 3.5% + 0.35$, 4.5% + 0.45$ or 6% + 0.60$ per transaction | Free |
| Deposit commission | 2% (max $20) | Depending on the payment method | 0.50% |
| Withdrawal commission | $5 | Depending on the payment method | 1.0% |
| Commission for international transfers | 8.9% | Depending on the payment method | Direct transfers are free |
Paysera (Paysera Money Transfer) offers competitive conditions, which are especially beneficial to the residents of the countries that support SEPA. The platform provides online banking services at a worthy level to private and corporate clients. The transfers are well secured and performed within minimal time.
The system offers an international type of account, an option to hold up to 30 currencies, with euro as the base currency. There is a built-in converter, and a slew of payment solutions for business. Individuals can open savings accounts. The commission system is more complex than the majority of competitors offer, but it is generally beneficial, or, at least at the level of average market indicators. There are also additional options like parcel delivery and ticket sales. Based on the summary of factors, the Paysera platform can be recommended.
Investment Options
The payment system allows its users to open savings accounts. The interest rate on a savings account is calculated individually. Paysera does not offer other features for growing your capital.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Contacts
| Foundation date | 2004 |
|---|---|
| Regulation | Bank of Lithuania, PCI DSS |
| Official site | https://www.paysera.com/ |
Comparison of Paysera with other e-payment systems
| Paysera | Volet.com | Payeer | Skrill | Payoneer | PayPal | |
| Supported Countries | Over 180 countries | 150 countries | 127 countries | 200 countries | All countries | All developed countries |
| Supported Currencies | 30 currencies | 9 currencies (USD, EUR, GBP, RUB, BRL, TRY, UAH, KZT, VND) | 3 fiat currencies (USD, EUR, and RUB) and most cryptocurrencies | 40 currencies | 7 currencies – USD, CAD, EUR, GBP, MXN, AUD, JPY | USD, EUR, GBP and 22 other currencies |
| Support for cryptocurrencies | No | Yes | Yes | Yes (deposit) | No | Yes |
| Subscription fee | No, the services are paid for separately | No, only transaction fees | No, transaction fees only | No, only transaction fees | No, only transaction fees | No |
| Payment acceptance equipment | No, only online | No, only software | No, online only | No, only online | No, only online | Upon receipt of payment/transfer, depend on the region |
User Satisfaction i