In 2026, a business paying contractors in many countries has two choices: a contractor platform such as Deel, or a payments account such as Wise Business, Airwallex or Bancoli. Deel charges starting at $49 per contractor per month and adds contracts and tax forms. Payment accounts charge per transfer instead of per contractor.
With Bancoli, you get paid on named USD account details, available on every plan, including Free, once verified, and you pay contractors from your Smart USD Wallet. You can pay by ACH, RTP and local payouts, with free FX in 25+ currencies on local payouts, or in USDC, USDi or USDT to contractors who want stablecoins. Bancoli works with an affiliated chartered bank and serves businesses in 150+ countries. Smart USD is not a deposit and is not FDIC-insured.
Wise Business lets you pay up to 1,000 recipients in one batch, with fees charged on each transfer. Airwallex offers batch and API payouts with local transfers to 120+ countries.
First decide: contractor platform or payments account
It is month end. You pay 20 contractors in 8 countries. Before you compare fees, answer one question. What do you actually need?
A contractor platform (like Deel) does more than pay people. It writes contracts, collects tax forms and can act as a Contractor of Record. You pay for each contractor, every month.
A payments account (like Wise Business, Airwallex or Bancoli) just moves money. You handle contracts and tax forms yourself. You pay for each transfer, not each person.
If you already have contracts and your accountant handles the forms, a payments account is usually enough. If you need the paperwork done for you, a platform may be worth it.
Cost compared: 20 contractors in 8 countries
Here is one simple month. You pay 20 contractors $2,000 each, so $40,000 in total. We used only official prices we read on Nov 1 and Nov 2, 2026.
| Option | How it charges | What 20 contractors cost this month |
|---|---|---|
| Deel | Starting at $49 per contractor per month | Starting at $980 in platform fees, before any transfer costs |
| Wise Business | “From 0.23%” to send money, and the fee varies by currency | Depends on currency and route. See Wise’s pricing page |
| Airwallex | Per transfer. SWIFT sends cost $15 SHA to $25 OUR on all plans. Local transfers to 120+ countries | Depends on how many go local and how many go by SWIFT |
| Bancoli | See bancoli.com/pricing. Free FX in 25+ currencies on local payouts and no per-contractor seat fee | See all applicable fees on bancoli.com/pricing |
The lesson is simple. Per-seat pricing costs the same whether you pay $200 or $20,000. Per-transfer pricing grows with the number of transfers and the currencies. If you pay many people small amounts, compare carefully. If you pay a few people large amounts, per-transfer usually wins.
And remember the payouts that fail. A wrong name or account number means the money comes back, and you send it again.
Paying in local currency, USD or stablecoins
Local currency with free FX in 25+ currencies
Many contractors want to be paid in their own currency. With Bancoli, local payouts come with free FX in 25+ currencies. The contractor gets their own currency in their own bank. Check that a country is covered at eligibility.
USD by ACH or RTP to US accounts
Some contractors have a US bank account. Pay them in USD by ACH or RTP from your Smart USD Wallet.
USDC to contractors who want it
Some contractors prefer stablecoins. With Bancoli, you can pay them in USDC, USDi or USDT. Bancoli offers stablecoin payments to over 150 countries. Only send a coin and network your contractor confirms in writing. Read more about stablecoin global payouts. Smart USD is not a deposit and is not FDIC-insured.
Batch payments: what each provider supports
| Provider | Batch payments | Source |
|---|---|---|
| Wise Business | Up to 1,000 recipients in one batch | wise.com help |
| Payoneer | Batch payments of up to 1,000 | payoneer.com/pricing |
| Airwallex | Batch and API payouts | airwallex.com payouts |
Paying at scale across many countries? The Global Business Account and the Payouts API are Enterprise only. See global transactions.
Checks before you pay
A few quick checks can save a failed payout.
- Run a vendor background check. With Bancoli, each vendor background check costs $3 on Free, $2.50 on Plus and $2 on Premium.
- Use exact names. The name must match the contractor’s bank account exactly.
- Confirm details by phone. Scammers send fake bank detail changes. Call a number you already know.
- Send a small test first. For a new contractor, send a small amount. Wait for them to confirm it arrived.
Where Deel is still worth it
Deel is a good fit when you need more than payments:
- Contracts. You want contracts written and signed in one place.
- Tax forms. You want the forms collected for you.
- Contractor of Record. Deel’s Contractor of Record starts at $325. It suits companies that want Deel to take on more of the compliance work.
Many businesses mix the two. Deel for a few complex contractors, and a payments account for everyone else.
For a wider look at methods, read international B2B payment methods compared and how to fund contractor payments from one dashboard.
FAQ
What is the cheapest way to pay contractors in many countries in 2026?
It depends on how many people you pay and how much. Per-seat platforms like Deel start at $49 per contractor per month. Payment accounts like Wise Business, Airwallex and Bancoli charge per transfer. Bancoli adds free FX in 25+ currencies on local payouts.
Do I need Deel, or just a payments account?
If you already have contracts and handle tax forms yourself, a payments account is usually enough. If you want contracts, tax forms or a Contractor of Record, a platform like Deel may be worth it.
Can I pay everyone in one batch?
Wise Business and Payoneer support batches of up to 1,000 recipients. Airwallex offers batch and API payouts.
Can contractors be paid in their local currency?
Yes. With Bancoli, local payouts come with free FX in 25+ currencies.
Can I pay contractors in USDC?
Yes. With Bancoli, you can pay in USDC, USDi or USDT to contractors who want stablecoins. Smart USD is not a deposit and is not FDIC-insured.
What does each option cost per contractor?
Deel starts at $49 per contractor per month. Wise Business lists sending fees from 0.23%, varying by currency, on its US business pricing page (read Nov 2, 2026). Bancoli has no per-contractor seat fee. See bancoli.com/pricing for all applicable fees.
Pay your team from one USD account
Open a Smart USD Wallet and pay contractors in local currency, USD or stablecoins. Smart USD is not a deposit and is not FDIC-insured.
Compare: Bancoli vs Wise · Bancoli vs Payoneer · Bancoli vs Airwallex