Does Paypal charge a processing fee when you transfer funds? [RESOLVED]


#1

I’m new here and I’m happy to say have been pretty successful. My payments are starting to clear and add up, and it’s time to do something with the money.



My question is this: I have a Pro (Business) account with Paypal and am wondering if Paypal will charge me a fee when my Fiverr funds are deposited?



I’m already paying 20% to Fiverr - I’d like not to lose an additional percentage to Paypal.



Thank you and sorry if this is already discussed in another thread. I searched but didn’t find it.



Sheriff’s Note: Answers have been provided and the best answer that may apply over time was supplied by kjblynx. It has been pasted below for convenience. This thread is now closed.



“Fiverr has to pay PayPal to use their services. Part of said pay is taken from the seller earnings upon withdraw to cover it.”


#2

There shouldn’t be any fees, BUT if there are, you can always create a personal account and use it for withdrawals. Under PayPal TOS you are allowed to have two accounts as long as they are of two different types.


#3

Reply to @beatcraigslist: Wow, that’s great news - thanks!



But I’m wondering if Paypal wouldn’t automatically see Fiverr as a business. Plus, Paypal makes you convert your account to a business account once they clear a certain amount of dollars for you. At least they used to years ago when I started with them.



I guess I’ll just have to try it and see - what else can I do with the funds? Unless I want to blow it all on other people’s gigs!


#4

Reply to @ruth666: They no longer make you convert to a Business account. You can have a personal account as long as you want. Whether they see Fiverr as a Business or not is irrelevant. The Business account is if YOU are a Business, not that you receive payments from a Business. So you have no worries there.



As far as what to do with your money, well thats up to you. You can use your PayPal account to buy anything you want on the web. You are not just limited to Fiverr. You can also send it to your bank account if you want and that is Free with PayPal. They still have limits as to how much you can send and receive but as soon as you get verified by connecting a bank account or credit card to your PayPal account, then the limits are lifted.


#5

In india paypal charge around 3% (not sure).



withdraw big account it will save cost


#6

I have a business account with PayPal & have never had a fee taken out with any other site I’ve worked through. Fiverr is the only one. It’s $0.08 for me.



ETA: It’s not $0.08 per transaction. It’s $0.08 per $4.


#7

Same case here. Just tested the waters, withdrew my first active $4 and Paypal chopped $0.08…what percentage is that? The mathematics escape me.


#8

I get charged $1.00 from paypal thats why I always wait now to transfer my money to paypal in one lump sum


#9

Wheter you wait or not it won’t matter fiveer needs to down on seller fees all in all it 20% is taken for each and every gig u sell sold $40 on a gig fiverr takes $8 of that and paypal 0.02% so if you sell $200 let’s say fiverr takes$40 & then paypal another 0.02% to transfer the funds leaving you with about 157 and a $43 less unlike other sites that would probably charge $5-8 for $200 worth on . You can do a lot with $30 that’s more to provide for the buyer or yours for this reason I am switching to another site as I have to buy supplies for my gigs and I don’t even make $2 profit on a gig


#10

Reply to @yani87: How’s the math? PayPal doesn’t charge 0.02%. They charge 2%. So if you transfer $4, PayPal keeps $0.08. Like kjblynx said the max fee is $1.00, so wait until you’ve reached $50 or more, and then withdraw your money from Fiverr. :slight_smile:



If you have $50 or $100 doesn’t matter, as the max fee is $1.00.



Though I get hit with yet another fee when withdrawing the money to my bank account from PP lol. Although PP don’t advertise this as a “fee”, they have the WORST exchange rates I’ve ever come across in my entire life! They take another 7,5%! So 20% to Fiverr, 2% to PayPal and yet another 7.5% in exchange rates to PayPal… Doesn’t leave me with much.


#11

Reply to @oldbittygrandma: This is true for me as well. I just transferred my money from Fiverr to my personal PayPal and I see exactly $1 is missing. …I guess it’s just another way Fiverr siphons money out of it’s users.