Hey, wanted to ask what’s the native currency of fiverr. By that I mean - I would like to avoid any fees for changing currency when getting paid
I think you can’t do it
You can change your local currency which estimates your earnings and a few other areas roughly exchanged. But the actual money you receive from Fiverr is always US dollars so they have to be exchanged.
That is what I was asking about. Thank you
As @wolfhowler has said all transactions are in US dollars regardless of your local currency settings. Depending on where in the world you are and your withdrawal method, you can be subject to quite heavy fees. For example as a UK based seller withdrawing through PayPal, I lose a further 9% to PayPal on top of the 20% already taken by Fiverr (which I must state I have no problem with).
I am also a UK seller but withdrawing through Payoneer. I don’t have the percentage to hand but it tends to be a better exchange rate to PayPal.
I charge in US$, withdraw to paypal in US$, thence to my (UK) bank in US$.
Dunno why y’all pay fees at every step …
It is always in US dollar, so you need to get it exchange no matter what and deduction will take place
Well, that’s the point, isn’t it.
Keep it in US$ all the way to the bank …and then only pay one set of fees once it gets there …
He may mean that he has a US bank account or would get one.
You can save a lot of money by doing that. Here in Canada we can get a US bank account and have it at our Canadian bank.
Hey, got one more question. Does Fiverr automacitaly change currency to local? By that I mean - I live in Poland, however send USD from Fiverr to my polish USD account. It got changed from USD to PLN, then once again from PLN to USD (because account is in USD)
I’ve seen a couple of posts about Fiverr automatically charging in local currency, causing all kinds of havoc for sellers.
If you charge in US$, keep an eye on it - keep changing it back if necessary.
I am a UK seller. Since you are also from UK, hence I wanted to ask you for recommendation about earning withdrawal method.
Do you recommend withdrawing using “PP” or “Bank Transfer” ? I have always been withdrawing to PP. But since hearing the recent Payoneer scandal, I am feeling hesitant to withdraw to PP. Also I am looking to reduce the amount of fees I have to pay for foreign exchange rate.
Which option is better to reduce the amount of fees I pay, PP or Bank Transfer?
Do you think PP is still better?
Thank you for your help.
You’ll see my own preference if you read the thread …
For all the information we have on payoneer, read this thread:
Thank you for replying.
I was already following that thread for the past couple of days. That thread does not provide any answers to the questions I asked here unfortunately.
Also there is no reply from you on that thread. I went till the end of the thread.
Can you really open a UK bank account in USD $ currency? If yes, would you be able to recommend me one please?
I don’t use payoneer - that’s clear from this thread.
As indicated, all the information we have on payoneer is in the thread I referenced.
I understand it’s a concern. However, you’ll need to make your own decision about this. No one else can do it for you.
No. But all UK banks will accept payments in foreign corrency. It’s a result of having been part of the EU for so long …
Understood. Thank you.
Is the exchange rate and fees involved better than PP?
For example, if I were to send $100 to my bank account direct from Fiverr, how much would I receive?
You’ll need to look up the exchange rate - that’s what I do. It gives a ballpark, but the exchange from $ to £ is more or less what I expect.