Fiverr Forum

Fees are to High, help me to decide!


#1

Hi all,
Hope you guys are doing well.

I’m Vishal from India Confused a bit about withdrawing money to bank.

So I’ve used PayPal many Times I was getting like Rs: 900 when withdrawn $16 and like Rs: 450 for $8 as in these it fees in percentage.

But I have like $200 in Wallet and saw bank withdraw only charges $3 so technically it’s better to withdraw with Bank Transfer.

So as I never withdrawn through bank transfer can anyone share their experience, I mean is it really only $3 ? No extra ?

If yes then it’ll be great than PayPal.

So Guys please tell me should I go with PayPal or Bank transfer as I live in India.

Thanks & Kind Regards,
Vishal :slight_smile:


#2

Paypal is still more afordable friend, Bank Transfer is provided by Payoneer i don’t use it much, But i am quoting what you have said. You have $200 in your account if you transfer to paypal, Paypal would charge only $1 this is my personal experience i use it like every month. They charge only $1
and as far as conversion rate is concerned its also the same so you won’t be getting the exact value of amount as you see on google.

So in India, Paypal is greater from my point of view but Payoneer is obviously faster


#3

But when you will transfer Fiverr to PayPal it’ll charge 2% ( Maximum $1 )
But After that PayPal to Bank is Rs: 61.something per $1 ( Conversion rate Showing in PayPal with charges )


#4

You don’t understand the pain when withdrawing money from PP to bank account, not to mention PP has one among the worst exchange rate no matter what your currency is.


#5

That’s mean u use Bank transfer. How is the fees ?


#6

Really ? Enlighten me please


#7

Fixed $3/transaction.


#8

And what about the conversation rates ?
Any fees ?
Or same as market ?


#9

There is no pain. I transfer money from Paypal to my bank account for 17 years now and I never paid a dime for it.


#10

Same as market depending on your bank. As all banks are thugs they will have hidden fees calculated into the exchange rate. But as you can’t see it, it will not hurt you.


#11

No, in my country there’s no fee in Bank.
I get Exactly PayPal shows as Sent. But Problem is PayPal conversion rate is lower than the actual market rate. PayPal shows the conversion rate with PayPal’s conversion fees.


#12

I am writing this from my personal experience.
I used to withdraw my money using paypal but the conversion rate as you pointed out is too low as compared to Payoneer. Payoneer doesn’t charge any amount when your transfer your money from Fiverr.
If it is $200 you’ll get $200.
If the actual conversion rate is Rs. 64 then Payoneer will pay you Rs. 62 and paypal will pay you someting Rs. 60 to Rs 61.
Additionally, as per the RBI rules you are not allowed to keep your money in any online bank. Paypal takes 3-7 days to send this money to your local bank whereas Payoneer takes at most 1 working day.
Never withdraw on fridays using any of the accounts as it would add two days to the process.
I hope it helps. :slight_smile:


#13

Because you are American and don’t have to deal with the world’s worst exchange rates on PayPal.


#14

My request is PayPal will be the best or You can use Payoneer also.


#15

Okay but in fiverr in bank transfer section it’s says $3 fee per withdrawal.


#16

I’m Dutch and live in the Netherlands.


#17

Then you are still getting screwed on exchange rates.


#18

Yes, they do show that but don’t charge anything.
Even if they would you will still end up with more money than you will get from paypal.


#19

Friend :slight_smile: I was experienced too. Take it easy., You will earn a lot in the future. So processing fees isn’t a problem for you…


#20

I use Payoneer for my Fiverr withdrawals and spend the money mainly for groceries over the borders in Germany.
When I look at the statements the exchange rates are actually surprisingly good.