Payoneer and the alternatives: accounts for founders the banks turn away

The oldest and most widely connected of these. A Payoneer account gives a company receiving accounts in US dollars, euros, pounds and other currencies, including US account and routing numbers for ACH, and Amazon, Upwork, Fiverr, Airbnb and most other marketplaces offer it as a payout option. It serves founders in far more countries than the banks do. It costs more than Wise, and its published prices vary by country:

• 1% (at least $1) on a payment from a client into your USD receiving account, when dollars aren't your local currency. Payouts from marketplaces vary by marketplace.
• 1.2% to 4% to withdraw to a bank account at home, depending on the country and currency.
• $29.95 a year if the account receives less than $6,000 in any 12 months.

That makes it the default for marketplace sellers and platform freelancers, and a reliable second account for everyone else. Where Mercury or Wise serves you, keep client payments there and use Payoneer for marketplace payouts.

Built for African founders and freelancers, and called Geegpay until 2024. Raenest Business gives a company USD, GBP, EUR and NGN accounts, and its USD account takes ACH, domestic wire and SWIFT payments. Raenest says it can help eligible US LLCs run from Nigeria, where Mercury and Relay won't open. Its fees are charged on conversion and payout. The Nigeria page has more.

Grey is often named beside it, but Grey Business is for businesses registered outside the US. It suits a company registered in Nigeria, not your US LLC.

A business account with balances in several currencies, local account details, cards and payment acceptance, for companies registered in the countries Airwallex operates in, which include the US. Whether it takes a US company with a foreign owner depends on where the owner lives and on its review. It's worth a look for a company with real volume in more than one currency.

A good account for a business based in the US, and rarely the right one for a founder abroad. Relay asks every owner for a physical US address, not a PO box or virtual mailbox, and the business for an operating presence in the US. It bars owners who are citizens or residents of a list of countries that includes Nigeria, Pakistan, Ukraine, Lebanon, Iraq, Ethiopia and Zimbabwe. If you do have the address and the US presence, its separate sub-accounts are useful.

Corporate cards and spend management for funded US startups, with business accounts attached. Both prefer companies with US operations or venture funding, so a self-funded foreign-owned LLC usually isn't their customer. Founders with a Delaware corporation sometimes qualify after raising a round.