Hi I’m a seller based in the U.K. I’ve been selling on here for about a year.
I withdraw my money via PayPal as I’m familiar with it and it’s convenient. However, I thought the PayPal fees were around 3% but, I assume due to the currency exchange of dollars to pound sterling, I end up losing more like 9% - just through PayPal.
Obviously there is the 20% Fiverr cut taken from the price of your order before you even get anything, that’s fine I understand that (although I do think that’s too high considering they also charge the buyer tax on top of what you actually charge so the site is charging you both).
So say I get a $100 order, I get $80 which is roughly £65. The PayPal fees I thought would be around 3% based on the info on their site, which is about £1.95, but I actually end up losing about 3x this amount so I would end up with roughly £56, almost 1/10th of what I expected to get is now lost in fees.
Has anyone else had this problem? Should I use a different method of withdrawal? Is there a way round these fees? Are they right and should I just accept it?
Any help would be greatly appreciated.
James / ceilingeyes