Sorry for being late to reply. The far I know, Payonner's annual charge is $29/year. Moreover, you can't withdraw less than $200 to your bank account (I hate this feature).And, the conversion charge varies upon country & banks. I think there is no difference between Payoneer & local bank transfer. Let me explain it to you.
Payoneer: Upwork cuts 2$ per transaction. Then payoneer cuts 2% conversion charge if you withdraw through your local bank.If you withdraw from ATM then the charge is really high(3.15$ per cash out). And annual charge is a plus.
Local bank transfer: Upwork charges $4.95 per local bank transfer. And your bank will charge a conversion charge (Conversion charges are pretty low for local banks). Remember, local bank transfer only better if your bank provide better service & you withdraw a large ammount of cash like $300 - $400 or more.
That's why I think Paypal & then Skrill (Free account) is the best solution if you are a small freelancer like me or if you want to withdraw little ammount. I've both payoneer master card & local debit card. But I never used them. Bad luck is that, Paypal doesn't support my country that's why I'm using Skrill. The risk is that if Skrill migrate me to merchant account, then I've to use payoneer or local bank. Before that, I'm just keep taking the advantage of Skrill as long I can.
I usually transfer my money to a trusted person's Skrill account(He invests them in Forex) and he gives me local money. This method let me transfer currency at a lowest, lowest, & lowest charge($1 Upwork+1% Skrill charge).