First things first. I’m in the UK. It is my belief that fiverr has created a 2 tier system, with US sellers receiving more money for the same work. This is an unfair practice. It needs to change.
For UK bank transfers we are stuck with fiverr/Payoneer and their fees/rates.
(I have a UK paypal account that can receive US dollars, but as soon as I transfer to GBP I suffer the terrible paypal exchange rates)
So consider the following example.
A UK buyer contracts me to provide a voice over. The gig will cost them $100.
that same UK buyer contracts a US seller to provide the exact same gig for the same price - $100
Fiverr will take their customary 20% leaving both myself and the US seller with 80 dollars.
So far so good.
we both request bank transfers at the cost of 3 dollars.
The US seller walks away with $77
My $77 dollars should be worth £60.26 at the time of writing (mid market rate)
with fiver applying their ‘currency exchange fee’ of 2%, my $77 is now $75.46 before it is even converted into GBP leaving me with only £59.05
I would be fine with this if we had the option to receive dollars and handle the conversion ourselves. But we are not being given that option.
we are always 2% worse off than our US counterparts.
If your average fiverr income is $2000 a month/ $24000 a year that equates to a deficit of $480 over the course of a year.
The solution is simple - allow for virtual US bank accounts like transferwise et al. let us as sellers determine the best way to handle our US dollars - Pay us the same as the US sellers