I know late last year i had an email in regards to Fiverr updating their Paypal agreement and sending an email out to everyone in regards to no fees. I don’t withdraw very often to Paypal and i’ve started using payoneer but when i do i still notice that the balance shown in my Fiverr let’s say there was £1000 and then i withdraw to Paypal and it shows as for example £980.75. Why is this if there are no Paypal fees?
Because the “no PayPal fees” only refers to the transaction fees PayPal used to take prior to this change when you withdrew your files from Fiverr to PayPal.
You still have to pay conversion fees and maybe others, depending on what you’re doing.
Right, that’s what i thought (conversion fees). So i guess Payoneer works out cheaper at like a $3 fee for whatever the amount it seems.
From what I’ve calculated, it’s cheaper to use paypal up until about $200. $300 and up, it’s cheaper to do a bank transfer.
This is in part because I’m in the UK, so dollars need to be converted to pounds, which paypal charges for.
Even for a smaller amount on Paypal say like $200 i still feel like Paypal takes about $10 off of it for converting where as the bank transfer option it looks like they only like $3
The paypal fee if you’re converting the currency is usually 3.5%, though this varies depending on which currency you’re converting the dollars to.
The bank transfer fee is $3 + 2%.
So, for $200- paypal costs $7, and bank tranfer costs $7 also.
For $100- paypal costs $3.5 dollars, bank transfer is $5.
For $300- paypal costs $10.5, bank transfer is $9