I am from the Philippines and I am new here on fiverr. I would like to know which is the best method to use to withdraw my earnings and what are the other fees that apply?
Welcome to the Fiverr! Fiverr is a popular website and first-of-its-kind to introduce a system whereby anyone can hire someone for as little as $5. Whether you are in need of a logo designer or a virtual assistant, Fiverr has it all. If you are a seller on Fiverr, then you might have already known that there was just one payment option available on Fiverr just three years ago – and that was PayPal.
Currently, they also offer payments through a MasterCard debit card, powered by Payoneer.
PayPal, undoubtedly, is the most popular way to get paid for selling your Fiverr gigs. So how does PayPal work on Fiverr and how do you get paid? I will also offer a tip for withdrawing your earnings via PayPal so as to minimize the fees.
Let’s assume that a buyer bought your gig and you delivered it on time. If you have just delivered the order, then the following things can happen:
The buyer is happy and he gives you a “thumbs-up”. A green thumbs up logo used to be displayed in the Fiverr gig feedback. Most recently, they give you stars rating.
The buyer does not respond to the delivery of your order.
The buyer gives you a negative rating but does not dispute.
The buyer disputes whatsoever.
What all these events on Fiverr mean
If the buyer gives you a positive rating, the order is automatically marked as complete. After FOURTEEN, yes 14 days, the money is cleared and available for withdrawal.
If the buyer is non-responsive for 3 days, the order is marked complete automatically. However, you won’t get a positive rating for the order. You won’t get negative rating either. So, after 3 + 14 i.e. 17 days, you can withdraw the money.
If the buyer is not satisfied with the work but does not dispute, then you can keep the money and it will be available for PayPal withdrawal after 14 days clearing period.
If the buyer disputes, you have two options: re-deliver the order (won’t affect your rating) or refuse to deliver the order and fund the buyer back (has negative effect on your “Seller Rating”).
Response time for buyer: 3 days
Response time for buyer: 14 days (for goods that require real shipping)
How long does it take to get paid on Fiverr:-
Clearing Period: 14 days
After the buyer is satisfied with your delivery, he can upvote it (rate it in terms of stars). The clock starts ticking automatically in 3 days if the buyer does not respond. After the 3 days, it takes 14 days for the funds to be cleared. So, the time is 17 days total.
For products that require real shipping, the time is 14 days for review. After the 14 days has passed another 14-day cycle starts (for clearing the funds). So, in this case, it’s 14+14 = 28 days.
- Fiverr Revenue Card (powered by Payoneer)
As a PayPal alternative, Fiverr has introduced payments by Payoneer too. This method is called “Fiverr Revenue Card”. The card is a Payoneer MasterCard that can be used anywhere in the world to withdraw money from local bank ATMs. So it is not only faster, it is also safe and you can withdraw your local currency without having to wait days for checks or PayPal bank transfers.
On top of the hassle free payment through the card, new users can also get free $25 to their card through Payoneer. Simply apply for a new card, then attach that card to your Fiverr account by going to your Fiverr revenues page.
For every $5, you get $4 from the order because Fiverr’s commission is a massive 20%. So no matter how much your buyer pays, all you are getting is 80% of his expenses.
And for that $4, you will have to pay 2% in PayPal fees (up to $1). So, you get $3.98 in your PayPal account. You will get $49 if you withdraw $50 and you will get $99 if you withdraw $100. Moral – withdraw more than $50 to save more in PayPal fees.
Payoneer (Fiverr Revenue Card) Fees
As stated on their pricing page, the standard fee for withdrawing money through the card is flat $1. On top of that, you are subject to ATM withdrawal fees at the rate of $3.15 per transaction. One thing quite good about the Fiverr revenue card is that it does not require monthly maintenance charges, which is still applicable for other Payoneer partners like oDesk and Freelancer.