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Indian Fiverr - PayPal or Bank Transfer?


agwakash

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Hello Indian Fiverrers,

I was reviewing my pay out method and looking forward to know what you guys prefer.
I always used to use PayPal but thinking to shift to Bank Transfer now.

Here’s a rough calculation that made me think about trying Bank Transfer. Let me know if I am short of knowledge about this.

Let’s take $1000 payout as example:

1) PayPal option:

  • Fiverr to PayPal ($1000 - $1 = $999) transferred to PayPal = $999
  • Less: PayPal receiving charges: 4.4% Flat + $0.30 = ($44.26)
    Not deducted on Fiverr withdrawal
  • Net amount received in PayPal = $999

PayPal to Bank ($999 @ 61.84/-) = INR 61778.16

2) Bank Transfer Option:

  • Fiverr to Payoneer ($1000 - $3 = $1000) transfered to Payoneer = $1000
    * Less: Payoneer withdraw charges: 2% on total amount = $19.94
    Not applicable to Indian sellers

Net USD transfered = $1000 @ 62 (approx) = INR 62,000.00

Net benefit = INR 200 (approx)

So, only difference is of $1 and small exchange rate difference

Is there any other hidden charges I am missing out?

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Check your transactions history in PayPal.

PayPal deducts 4.4% + $0.30 on every money receipt

The PayPal 4.4% + $0.30 fee is applicable if you do any direct sales or get money directly from clients or if someone sends you money directly to PayPal account. So, only $1 will be get deducted.

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Indian sellers using PayPal to withdraw money from fiverr are at loss.
Payoneer is free for India and there are no charges for withdrawal through it. The information provided on fiverr website about 3$ per transaction does not apply to sellers in India.

Your PayPal calculations look more or less accurate, I don’t use it for fiverr but clients with whom I work directly, the charges are as you said. Below is an image which shows the net amount I received on 20$ withdrawal.
paypal.PNG.d33bacfa8dddc32ae5961f5717d3b3aa.PNG

This below image is for fiverr withdrawal through Payoneer - Withdrawal amount was 960$

payoneer.PNG.fbb521a68227a7e92e90b00452775170.PNG

PayPal is a bad idea for Indian sellers due to always low conversion rate than Payoneer. The transactions are also a lot faster for Payoneer.

The only disadvantage for Payoneer is when you work with clients directly.

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I have used bank transfers recently and there are no commissions, if you transfer 300, you will get 300 net

Captura.PNG.a93cc853945cf404c91d96a8e23116ca.PNG

For its part, payoneer discounts $ 30 annually debit

Captura.PNG.f5d0281d952a652e047dded4270ed994.PNG

This last of the annual payment, it is very important to know it since I did not know it at the time.

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I have used bank transfers recently and there are no commissions, if you transfer 300, you will get 300 net

For its part, payoneer discounts $ 30 annually debit

This last of the annual payment, it is very important to know it since I did not know it at the time.

Thanks, the annual fee is applicable for India as well?

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I have used bank transfers recently and there are no commissions, if you transfer 300, you will get 300 net

For its part, payoneer discounts $ 30 annually debit

This last of the annual payment, it is very important to know it since I did not know it at the time.

You should mention your location as the post was for bank transactions in India where there is no annual fee. It will confuse sellers.

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The PayPal 4.4% + $0.30 fee is applicable if you do any direct sales or get money directly from clients or if someone sends you money directly to PayPal account. So, only $1 will be get deducted.

Yes you are right, I just checked my last transactions and only $1 was deducted.

Thanks for pointing this out.

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