Hello there Indian Fiverrers. I’m a little confused about the Bank transfer payout method. I do not have a PayPal so Bank transfer is the only way I can withdraw money from Fiverr.
Okay, assuming I have earned 20$ through one of my gigs, then Fiverr will take 4$ out of the 20$ as a processing fee. Now, when I try to withdraw the remaining 16 dollars through bank transfer, it tells me it will charge me an extra 3$. So, in the end, I’ll be getting only 13$ out of the 20. Is that right?
Now the reason I made this post was to ask if all the money I earn through my gigs will directly be sent to my Bank account after the 14 day fund clearance time. After 14 days, will I have the option to send the money to my bank account myself or will it be sent directly without me having to do anything? Because if the latter is the case, then I think I’ll be at a huge loss if they charge me 3$ for every 20$ that I earn.
Basically, if I withdraw 125$ (5 transactions of 25$ each), I’ll be charged 20% of the cash (25$) as the processing fee. I’ll have 100$ left with me. Then I’ll be charged 3$ per withdrawal = 15 dollars. So, overall, I’ll be charged a whopping 25+15 = 40$ out of the 125$ I earned, leaving me with 85$ only. That’s a bit insane to me because my gig costs only 5$. It means I’ll have to perform my gig 8 times, just to pay for the charge that Fiverr takes.
Someone PLEASE tell me if what I said is true…I might be completely wrong here. I need your help.