I’m a UK seller and up until recently I’ve minimised transaction and currency conversion fees by setting up a USD wallet on my UK Paypal account, withdrawing from Fiverr to Paypal in USD, then withdrawing from Paypal to a US TransferWise account. This way, if and when I wish to convert my earnings into GBP I’m only charged once, at a very competitive rate courtesy of TransferWise. As a UK seller using Fiverr, I recommend this process!
However, Paypal have recently introduced a 3% transaction fee to withdraw to US accounts, which has put a spanner in my otherwise nifty works. 3% isn’t massive, but it is a fee I wasn’t paying previously, that will now eat into my earnings.
Has anyone else come up against this and/or found a way around it? Any recommendations for an alternative, more economical way of getting our earnings from Fiverr?