I’ve been wondering about this for a while and since I’ve started to use the forum regularly, I decided it would be ok to ask for it directly. Do you live in a EUR country? And if so, what’s your experience with using the automatic currency exchange on Fiverr?
To be quite honest, I have absolutely nothing against Fiverr, but the one thing that I really can’t comprehend is why they would force the currency exchange on you. It makes it hard to understand how much money you are making and where that money is going.
For example, here’s a picture of my Fiverr availability in Euros:
And here’s my availability in USD:
Of the two, the second number is actually representative of how much I have in my account. The first one is only an automatic exchange rate that Fiverr applies (either not correctly or not in real-time, I’ll explain why).
Now, if I go on XE.com, which is widely known as THE currency exchange website, here’s what I get:
So, XE says I would be making less money (which I already knew, but it’s constantly changing).
I trust XE better than I trust Fiverr’s automatic exchange rate because the number I see on Fiverr in Euros is NEVER representative of what I get on PayPal after.
Now I withdraw my funds and …
… I only get 323€.
So, who’s at fault for not letting me understand how much money I should be making? Fiverr’s automatic system is WAY off (25€ is not nothing), XE seems to be right instead. And yet why is it that I’m still losing 10€ on the way? If there were fees applied from PayPal, shouldn’t they tell me?
I understand that currency exchange fluctuates every single day and that the value of dollars could tank one day compared to any other (hopefully not), but for us Europeans, or at least for me, it’s frustrating to have to think about this financial mismatch that’s so obvious and so not clear. After all, I could have 25€ more in my pocket which doubled or tripled by bigger amounts would start to be quite a substantial amount (I withdraw every two weeks).
Anyway, what do you guys think? Have you tried using Payoneer? Is it any better? Should I get one of those Fiverr cards? What’s the best way to minimise my losses?