Fiverr Forum

Currency problem in custom offer


#21

you put that very well, thank you! that’s most helpful. I also realise now that the buyer fee is 5% not 20% like ours…

I’ll definitely keep this in mind, I think I’ll be ok now. Thanks for your great advice, I really appreciate it! what do you do actually? I’m a translator and proof reader/ copy editor.

have a nice weekend

Tomer


#22

Glad my thoughts could help.
I’m a translator, so we’re not just Fiverr but translator colleagues too. :slight_smile:

A nice weekend to you as well!


#23

Hi Miiila, it’s nice to meet you online, I translate from German and English into Hebrew and in the past few years translated a few old books for a private customer from German into English as well!.. But usually I translate into Hebrew or Hebrew to English. So we even have two common languages… :slight_smile:
Do you know if I can find anywhere on the site what conversion rate they use? because the difference between online currency converters and what comes up here in Shekels when I put the same amount of USD here and there is a difference of about 7 shekels, I am at a loss how to get this to work, because I came to an agreement with the client about a SHEKEL sum, so I set my currency to shekels (even though in future I’ll change it to USD like you recommended, I hate working like this…) but the sum that comes out in Shekels is ridiculously different than the online converters. Do you know if I can I see the Fiverr conversion rates anywhere?


#24

Great. I only offer English > German.

Since I always charged in USD, I didn’t ever try to find out what Fiverr bases their display of other currencies on, I haven’t stumbled over that info either yet.

The only currency conversion rate that matters to me is when I need to transfer the USD we get payed in from PayPal to my bank account and which rate I need to state for accounting/tax purposes (not the actual one but an official one here in Germany; the being paid in USD is a bit of a drawback because you lose money there again, PayPal charges 2.5% fees and then you might lose more money because of the conversion rate itself).

Here’s a bit about paying in local currencies, from buyer POV, and it doesn’t have the answer to your question, unfortunately, but still some info that might be useful, for instance, it says “Note: If your display currency is the Israeli New Shekel (ILS), credit card payments will still be made in U.S. dollars. and also " * Payments via PayPal are still made in US dollars.” and customers can only pay by one of those, so it doesn’t really seem to matter what currency they have set either way and seems to make the most sense to me to keep all deals in USD, but I guess some people prefer to see the currency they are used to.


#25

Miiila you’ve been very helpful, thank you very much, I’m keeping your post for further reference… I do have experience with using paypal and know how much those conversions and fees can cost you in the end, it’s really quite a lot. It’s ok to reckon my price on top of operation costs, but the point is, that on a site where many people expect to find people who can do some work for reasonable prices, it becomes quite a lot more than what they’d expect, doesn’t it? I mean, if it comes eventually to something close to what an agency costs them or more, then what do they gain by not going to an agency in the first place?
Bottom line, I’m worried raising the cost too much will “cost me” clients… what’s been your experience?


#26

I already face this problem lot of times. Simply I use google and use currency converter. Right Now! this is the solution. I hope fiverr will take care this very soon.


#27

Most people start with lower rates, just like you’d do anywhere else too probably, and eventually raise them to whatever they think acceptable, fair, or worthwhile, once they have some reviews and more experience in this specific marketplace here. In that case, you’ll probably lose some kind of clients and gain a new kind of clients.

Don’t worry about agencies. There are a lot of people who see advantages in using a platform like Fiverr, after all, there are a whole lot of gigs sold daily here, don’t forget that, and not all of them are $5 gigs.
Some people prefer to work with agencies, some prefer to directly work with the translator himself or herself.
Or like the ease of using Fiverr, or the relative anonymity, the option to directly order a gig when they need something small but really quick, etc.
Many people don’t “only” buy translation too and are happy to be able to get everything they need “under one roof”.
Many people know that some agencies use Fiverr, too, so if you won’t know either way if the translation you receive from the agency was translated by a Fiverr seller, you might rather work directly with the Fiverr seller, no? :wink: Typically, Fiverr rates will still be cheaper, an agency has costs as well, they don’t just need to pay the translators they work with but they also have overhead costs, management personnel, perhaps a not-digital office, higher accounting costs, etc.

It’s not an employment. Treat it as an experiment. Try different things and price points and see what works for you. If you’re worried raising the cost too much, try to find the price you can live at and still get orders.
You might not get as many orders than if you’re very cheap but you might spend less time on those fewer orders for the same money and can use the remaining time for work elsewhere, or your own projects, whatever.

One of the big advantages is that you have no upfront costs for Fiverr, apart from your time.
What’s the worst that can happen? Nothing happens to you, even if you lose clients. And you can always lower prices again if you won’t get any orders at all. So, either start with lower prices and see it as an investment if you don’t earn so much the first time, or start with what you think are fair prices, and see where it will take you.

And in case you find out that it doesn’t work for you, you’ll only have lost a bit of time and gained some experience and know that it’s not for you and that you can focus on something else, you’ll not have to wonder “what if”.

Bottom line, don’t worry so much, just do, try out ideas, and find what works for you.


#28

Thanks, Miiila, I love your suggestions and ideas. So far I like Fiverr, I started with prices that are fairly similar to what I use offline, adding Fiverr costs. So I’m ok, and am happy - I was on Upwork before and hated the bidding system. So I’m much happier here actually, got nice clients so far, and love the fact that they approach me if and when they want, instead of me having to literally and visibly compete with others by bidding on the same job.

The questions I had here had more to do with learning how to best use the system, and with bugs in the currency conversion, rather than not being happy with the platform - I actuallyl really like it !

and the community is nice too… :cherry_blossom:

Talk to you again, I hope…

Tomer


#29

Thank you Minaitstudio, it is really helpful to know I’m not alone facing this, I hope it’ll get fixed soon too! :slight_smile:


#30

Frustrating. I’m also noticing a currency discrepancy across my site in general. My balance will show up in my currency (Canadian), but almost everywhere else in my earnings and analytics pages it shows in U.S. currency.


#31

yes it is very frustrating. … :frowning: thanks for responding!


#32

I think you should contact CS about the matter.


#33

I’ll try again, somehow they didn’t quite respond or solve it last time I tried to approach them.

Thank you!
Tomer


#34

Hi again,

Hope you’re doing well… just a small question, do you know if it makes any difference if you withdraw larger or smaller sums from Fiverr into paypal? i.e. does one lose any money on just withdrawing money into Paypal, or would you withdraw as often and on any sum, even smaller amounts?

I know about paypal, i.e. withdrawing incurs a fee if under 1000, but I’m asking whether any money is lost on the way from Fiverr to paypal.

thanks i.A>…
and have a nice evening,
Tomer


#35

Thanks, hope you too.

I don’t withdraw that often but for bookkeeping and time reasons. There is no fee from Fiverr to PayPal anymore, it used to be $1 per withdrawal, never mind the amount, but they waived that fee not long ago, so from that point of view, you can withdraw as often as you’d like to.


#36

That’s great, thanks, sure it is also a matter of time and efficiency, but it’s great there’s no fee involved…

Tomer