I get paid for some freelance work in dollars. The company that pays me pays me through Payoneer. This isn't negotiable, unfortunately. I live in the UK and obviously sterling... isn't doing so great so my understanding is that now is a good time to be converting to sterling. Each month I send the dollars in my Payoneer account to my British bank account. It's converted by Payoneer before they send it.
I pay a bill to a US company each month in dollars, however and I'm wondering what the least costly way to do this is. I've been accepted for a British credit card without foreign transaction fees so I could pay the bill on that card. I could also get a prepaid card from Payoneer (transferring over dollars from my "wallet" before I send the rest to my British bank) but there's an annual fee of $29.95. The monthly bill is $64. Would I be better paying on my credit card and going through two lots of currency conversion (dollars -> sterling -> dollars) which I'm guessing lose me money each time or getting a prepaid card and paying the annual fee?
Payoneer doesn't allow me to transfer from them to Paypal where I could hold a dollar balance to pay the bill which was my original choice. I'm not sure if I'm missing another solution. Suggestions more than welcome!
