Fiverr Community Forum

Paypal Or Payoneer bank transfer for Indian seller?

Greetings to all of you!
My question is what withdrawal method works best for Indian sellers?
should I use paypal? If yes ,then why.
or
should I use payoneer/bank transfer?If yes ,then why.

It will be really helpful if someone can answer my questions.

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Your country which system is best,Hopefully you can use it.But you can use payoneer. Cause I used it thats why I suggested it.its very easy way for fiverr money withdraw

what are the service charges by payoneer and also is the conversion rates good .

payoneer has no service

That’s good.
Thanks for the info.

I use Paypal. No problem occur till now.

thanks for replying.But i want to know about which is better for indian sellers in terms of conversion rate and less fees.

Yes PayPal Charge some amount for currency conversion. Last Month I have earned 24500 INR and they charge 758 INR for this conversion.

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what was the conversion rate from USD to INR. I mean how much they give for 1 USD. I heared they give low conversion as compared to current market rate.

2.5% Exchange Rate dollar to INR.
All the Payment Withdrawals include a 2.5% Exchange Rate fees which is automatically decreased while you check the currency conversion rates which is the reason you would normally find the Indian Rupees converted amount a bit less than the actual conversion rate in the market.

thanks for sharing the info.
Do you have any info regarding payoneer

No I use only paypal

my use payoneer only

I use payoneer, for me it is perfect, funds are transferred to banks in 2 days or less, also be careful if you have banks like hdfc bank, because payoneer will transfer funds without converting it, but still take 2 % from you and then hdfc will charge extra for conversion (according to their own rates). for me I use SBI so I only get charged 2% by payoneer and they convert it and send it to my sccount.

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that will be really helpful.Thanks for the info.

Hey wanderingartist, if you are an Indian seller, can you tell me how to go about the IEC code they ask for? It shows I don’t have to submit it if I don’t have one, but I’m a bit worried since the verification is still pending due to it. I don’t want to risk transferring money before verification, because when I did it in Paypal my payment got stuck. Would be really helpful if anyone can help me out with this, I have also raised a query with Payoneer, hopefully I can transfer it soon.

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Hi, My payment also got stuck in paypal. Fiver is also not reversing it. I also am bothered about the IEC. I don’t have one. please let me know if you get some info.

Hey Frank,
I was communicating with PayPal, Fiverr as well as Payoneer. PayPal requires verification before transferring funds, so your payment won’t go through before that. Payoneer only requires IEC if you have one, it isn’t mandatory and won’t affect your payments based on the email I have received, but I recommend raising a query with them, just to be clear. And lastly, the amount in PayPal will be auto-reversed in 30 days according to what the Fiverr executive told me. I am supposed to receive mine tomorrow actually, so I’ll update you on it. Don’t worry, your money is most likely safe :smile:

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Thanks a lot for the clarification. Also update when you make your first payoneer transaction :smile:

in my opinion payoneer is best . cz its more secure and fast than paypal .