Fiverr Forum

What is the best way to withdraw money for indian sellers?


#1

I had withdrawn some money using payoneer 2 days back and it charged me 8$ for the transfer of money to my local bank . How much does paypal charge ? , if i create my account at paypal to transfer my money to my bank , is it costlier or cheaper ? Can anyone specifically tell me the charges paypal charge , from the transfer of money to our local banks ?



Thank You :slight_smile:


#2

Reply to @mallika255: Thanks for the detailed information , really helpful , now will use only paypal :slight_smile:


#3

Reply to @wpfalcon: Thank You For The information :slight_smile:


#4

Reply to @kjblynx: Yes i just saw its 1$ for india , and i spend 5-6$ on every transfer by pyoneer , REGRET !, Now will only use paypal :slight_smile:


#5

Reply to @animevideo: Eager to try paypal :slight_smile: , thanks for sharing your experience :slight_smile:


#6

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#7

Paypal is cheap. But Payoneer is much more faster than Paypal.



#8

paypal Best for india.


#9

Reply to @kjblynx: Make sure you are from USA & I am from India. I am talking about bank transfer. I used both of them, When you select paypal as a option you will get your funds instantly, But sometimes paypal takes 7 days for bank transfer. Payoneer offer direct bank transfer to all Indian citizens because Payoneer Card is restricted by RBI (Reserve bank of India)



For me Payoneer direct bank transfer is the best option. Sometimes I receive my funds in less than 2 hours on my bank account.


#10

Reply to @wpfalcon: Yes it is fast , but can you please tell me what is the charge you pay when you withdraw money to paypal and then from paypal to your bank ?


#11

Reply to @mallika255: What is the cost for withdrawing money from paypal ? No just from fiverr to paypal but also from paypal to our local backs , Can you please tell me the entire cost ?


#12

Reply to @sunshy1: Paypal is free but It can take 5-7 days to complete the withdrawal, depending on your bank’s holiday schedule and payment policies.



https://www.paypal.com/in/cgi-bin/webscr?cmd=_display-withdrawal-fees-outside


#13

@sunshy1 any amount you withdraw with fiverr you will get only $1 less then fiverr withdraw for example you withdraw 160Usd then you will 159 usd in paypal account. no charges by paypal but one thing paypal give less exchange rate as compare to market price. but still best for me.


#14

IMO PayPal is the best option, as I’m from India too and have used both options to withdraw, PayPal has been the best experience so far :slight_smile:


#15

There is a simple calculation for both Paypal and Payoneer :-

say, exchange rate $1= Rs.62.3150/-

Eraning-- $100



Pay pal

$100-$1= $99

exchange rate normally remain Rs.2/- lower than market rate, so 62.3150 -2= 60.3150/-

So,

Amount available in bank account = 9960.3150= 5971.185/-



Payoneer

$100-$1= $97

Exchange rate = 62.3150 - 2.75% 0f 62.3150 =62.3150 - 1.7136625 = 60.6013375

so,

Amount available in bank account = 97
60.6013375= 5878.329738/-



NOTE: exchange rate in Payoneer is higher

end amount is higher for paypal.



Now if the transaction amount is 1,000$ then Payoneer will be profitable.



I hope I am right, but if my wrong information/calculation please someone point out.


#16

By the way, can anyone tell me about maintenance charge, if any, of Paypal and Payoneer accounts? I am talking of personal/individual account type.


#17

how can u say in payoneer is 100$-1$=97$?
it should be 99$ .


#18

which is the best way to withdraw for Indian seller? PayPal or bank transfer