Hey, an update on this. I have received the refund amount, so incase yours was stuck it will be sent back to you soon and Payoneer is way better in my opinion, it is safer and doesn’t need a lot of unnecessary document submissions, so I would suggest you go ahead with that. It does charge you a fee of $3 for transactions but if you are transferring larger amounts of money, this would be the safest way to go about it. Good luck
Hi mahima, I’m from India and I had same issue while withdrawing through PayPal and got my money back in Fiverr balance after 15 days. Now I’ve made a Payoneer account, I’ve added all information except IEC, because I don’t have one. I’m not sure if I should proceed the withdrawal or not. Is IEC fillup compulsory ?
It’d be a great help if you could tell me about it.
Hey there, based on the exchange I had with Payoneer, IEC is not compulsory if you don’t have one. Just register all the required documents and you’ll receive a verification email from Payoneer after which you can start transferring your funds directly to your bank account. Hope this helps you out!
Okay, that’s great!
Thank you so much for explaining this. Can’t thank you enough! Have a great day ^-^
Hi, I am using payoneer from last two years. They were not charging anything. but from last December they are charging $3/transfer. in Paypal, they deduct $5 (I don’t remember the actually amount. but it is more that payoneer’s service charge).
Paypal is works if you are Indian. I’ve used it, and it is great.
Can you please tell payment conversion rate is it current market rate or is it different?
Like in PayPal conversion rate are below than actual rate.
Hello @merohan, Did you got the payment? If yes, can you tell the conversion rate used for the same?
Thanks for the help @wanderingartist. Can anyone here in forum with account in ICICI Bank can confirm about such additional charges for conversion while withdrawing money using Bank Transfer?
I haven’t got the chance to try Payoneer. If you do please don’t forget to share your experience.
Hi, what is the minimum withdrawal limit from payoneer. I read it depends on our local bank. You are using SBI, have you tried to withdraw less than $20 or $50. Let me know . Thanks
No I never withdraw 20 or less so I can’t say.
If you use HDFC bank or like that, they will charge extra for conversion, best use Indian banks like sbi BoB payoneer will charge 2% or so but it will convert the amount. Once I withdrew to my HDFC bank and they charged 6% conversion fees then then 18%gst like wtf ??
Payoneer is the best one for Indians.
Payoneer works best. It charges $3 on bank transfer, no matter what the amount is. While PayPal charges a percentage on the given amount so an Payoneer would be better compared to PayPal when it comes to withdrawing money.
Hope this helps.
I got a doubt -
I got a e-mail earlier from payoneer that says ‘Payment transferred to your bank account’ but the amount haven’t yet added to my local bank account and to my payoneer account. Any idea on how long it takes? (This is my first withdrawl from fiverr)
Depends upon on which day and at what time have you initiated the transfer from Fiverr.
In my experience, on weekdays, when I initiated the withdrawal before 9 AM, it gets transferred the same day by evening.
And when initiated on Saturday or say after 12 PM, it takes 2-3 days.
Good luck on receiving first payment !
Thankyou so much for the reply!
I received the cash within a day