Payeer vs. Ukrainian Banks: What to Choose in 2025?

When Is Payeer the Best Choice for Users in Ukraine?

Payeer is an international electronic payment system that has been providing financial services since 2012. It combines the functions of an online wallet, a crypto exchange, and a payment service, which makes it profitable and convenient for Ukrainian users as well.

With Payeer, you can:

• transfer money to 220 countries, including using SWIFT;
• pay for goods and services;
• store and exchange cryptocurrencies;
• withdraw funds to a card or other wallets.

Payeer supports dollars, euros, and about 100 cryptocurrencies, including Bitcoin, Litecoin, Ethereum, Bitcoin Cash, Ripple, Tether, Dash, and others. The service is convenient because it does not require complicated registration, supports anonymous transactions, and allows you to work with multiple currencies simultaneously. Users appreciate it for its speed and low fees. 

For businesses, Payeer offers more than 30 payment methods, as well as bulk transfers via API.

When Do Ukrainian Banks Win Over Payeer?

Banks remain stronger where government guarantees and a wide range of services are important. Loans, deposits, mortgages, payroll projects, and official settlement accounts are things that Payeer Wallet (Ukraine) cannot replace. Moreover, bank cards are accepted everywhere, including offline stores and services, which is still more convenient in everyday life.

Who Should Combine Payeer and a Bank, and When?

Banks provide reliability, deposit protection, and access to familiar services such as utility payments and mobile top-ups. Payeer, in turn, provides speed and freedom for international transfers, as well as access to cryptocurrencies. The best option would be to combine the services of banks and payment systems. This approach is particularly useful for cryptocurrency investors, freelancers, and entrepreneurs who work with clients from abroad.

Payeer vs. Bank: Comparison of Key Parameters

We will explain how the Payeer system differs from Ukrainian financial institutions, taking into account the criteria that are particularly important when performing transactions.

Transfer time and processing speed

Payeer:

Transfers within the system and to external platforms are almost instantaneous, without waiting or delays. The e-wallet does not require conversions through banks, which makes it faster.

Banks:

• International transfers via the SWIFT system can take from a few hours to 3-5 business days. If banks have correspondent accounts, the money usually arrives faster — on average in 1-3 days.
• At PrivatBank, thanks to the introduction of SWIFT gpi technology (new format), more than 40% of transactions take only 5 minutes.
• Domestic transfers between cards are almost instantaneous — usually within a minute. In some cases, they can take 10–15 minutes, and delays of up to three days are considered an exception.

Transaction fees

Payeer:

• Internal system — about 0.5%;
• Exchanges and transfers in cryptocurrency — from 0%;
• Replenishment via Volet — 2.5% (minimum $0.1/€0.1)
• Withdrawal via Volet — 1.99% (minimum $1/€1)

Banks:

• Card-to-card transfers within Ukraine: Oschadbank — 1% + 5 UAH; Alfa-Bank — similar; Raiffeisen — 0.5–1% (minimum 5 UAH), Monobank — free of charge.
• For international transfers, the commission reaches 4% of the amount. At the same time, banks often set a minimum fixed fee — from USD/EUR 5 to 20.

Security level

Payeer uses:

• Two-factor authentication (2FA);
• Secure connection (SSL);
• Anti-fraud system (monitors suspicious transactions);
• IP filtering (access can be restricted to certain devices or countries).
• Personal notifications for each transaction.

Banks provide:

• Multi-level protection: one-time SMS codes, electronic keys (EDS), tokens for particularly important transactions;
• SSL encryption to protect the connection;
• Personal notifications via online banking/SMS.

Large financial institutions in Ukraine operate in accordance with the ISO/IEC 27001 standard, which guarantees a high level of information security and customer data protection.

Ease of use and support

Payeer:

• The service offers a convenient mobile app and web version.
• The interface is quite simple: you can quickly top up your account, exchange currencies, or send a transfer.
• Support is available via an online form and email, but users note that responses can sometimes be delayed.
• The service is more focused on online customers and the crypto audience.

Banks:

• Most financial institutions offer mobile apps (e.g., Privat24, Monobank, PUMB) with a very simple interface.
• There is round-the-clock support in chats, by phone, and in branches.
• Banks have physical offices, which is especially important for people who prefer live communication.

Which Banks Are Better for Working with E-Wallets?

You can top up your Payeer wallet by transferring funds from bank cards. Withdrawals and transfers to Visa/Mastercard are also available. However, in Ukraine, these services are provided through exchangers.

PrivatBank, Monobank, A-Bank — Features

Payeer (Ukraine) does not allow you to top up your wallet directly with a card. However, you can transfer funds to your balance using online exchangers. ObmenAT24 offers favorable conditions, as well as a simple and fast procedure. With us, you can exchange Visa/Mastercard UAH to Payeer USD. To do this, you need to:

• Go to the main page of our website.
• Select Visa/Mastercard and currency in the “Give” line of the calculator, and Payeer (USD) in the “Receive” line.
• Fill out a short form, indicating your name, email, Payeer wallet number, and card number.
• Send the application for processing.

Moreover, ObmenAT24 offers convenient and profitable fund withdrawal to Ukrainian bank cards. Available exchanges:

• Payeer (USD) to Privat24 (UAH);
• Payeer (USD) to Monobank (UAH);
• Payeer (USD) to A-Bank (UAH);
• Payeer (USD) to PUMB (UAH).

If you cannot find your bank in our calculator, select Payeer USD to Visa/Mastercard UAH exchange, and the money will be transferred to your card. 

What is important to consider when withdrawing funds from Payeer to a card?

We recommend checking the transfer conditions in advance, as well as clarifying the conditions and the list of available withdrawal methods. Keep in mind that the transfer usually takes from a few minutes to a day, but in rare cases, it may be delayed due to additional checks. It is also worth considering the minimum and maximum withdrawal amounts. At ObmenAT24, the limits and the total cost of the exchange, including commissions, are displayed in the calculator. The average transaction time is 10-15 minutes. 

How to avoid mistakes when replenishing/exchanging?

• When replenishing your wallet or exchanging currency in Payeer, you should check the entered data carefully. An error in the card number or currency selection can lead to a delay or even loss of funds.
• Before confirming the transaction, you should double-check that the amount is correct and the commission is displayed correctly.
• If you use third-party exchange services, check their ratings and reviews to avoid scammers.
• It is recommended to keep screenshots or receipts of transactions — this will help resolve disputes more quickly through support.

What to Choose in 2025: Personal and Business Scenarios

Today, users have a choice between e-wallets like Payeer and traditional banking services. The decision depends on your goals:

If you send transfers abroad

Banks offer international SWIFT transfers, but they have two drawbacks: long processing times and fixed fees. Payeer, on the other hand, allows you to send money to different countries faster, sometimes almost instantly, and with more flexible fees. For those who often transfer money abroad, an e-wallet may be more convenient, but for large official transactions, banks provide a higher level of security and transparency.

If you accept payment for services

Freelancers and entrepreneurs often use Payeer in Ukraine because it allows them to accept payments from foreign clients directly and withdraw them to a card. Banks also allow you to receive funds from other countries, but currency controls and additional requirements make transactions less convenient for freelancers and start-up entrepreneurs. Payeer simplifies the process, although banks offer more guarantees in case of disputes.

If you work with cryptocurrency

Banks remain limited here because they do not work with digital money directly. Payeer supports cryptocurrency deposits, as well as exchange and withdrawal, which makes the service convenient for investors. If your activity is related to the cryptocurrency market, a wallet will give you more flexibility than a bank.

If you only need the domestic market

For payments within Ukraine, banks remain the best choice, as they allow you to quickly transfer money between cards, pay for services, and use cashback. Payeer can be used, but its key advantages are in international transfers and crypto transactions.

Looking for how to top up Payeer with cash dollars?
On ObmenAT24, you can make a transaction with minimal fees and without mandatory registration. We guarantee efficiency and security.