pixelart_eti Posted September 2, 2020 Share Posted September 2, 2020 i just noticed payoneer, exchange rate is weird.if i withdraw 100$ from my fiverr earning, they take like 2 or 3 $ withdraw fee which is completely fine by me.but then instead of exchanging each dollar into 3.36 shekels (my currency)they exchange 1 dollar into 3.28 shekel.which means every transfer i lose 3% just for bad currency exchange…so my only option is to use paypal and never use payoneer again, but then i have to wait like 7 days every time i transfer money from paypal to bank. Link to comment Share on other sites More sharing options...
infinuteyt Posted September 2, 2020 Share Posted September 2, 2020 Hmm, that is quite weird I will try to research this to find something that might help Link to comment Share on other sites More sharing options...
blavaro Posted September 2, 2020 Share Posted September 2, 2020 7 days for 3% sounds like a good deal but what is the cost Paypal to your bank? Link to comment Share on other sites More sharing options...
pixelart_eti Posted September 2, 2020 Author Share Posted September 2, 2020 7 days for 3% sounds like a good deal but what is the cost Paypal to your bank?fixed rate, like 2 dollars.that very good i can transfer 1000$ and pay 2$ Link to comment Share on other sites More sharing options...
husnainsaeed Posted September 2, 2020 Share Posted September 2, 2020 payonner takes 2% of the total amount in terms of dropped conversion rate, thats all Link to comment Share on other sites More sharing options...
pixelart_eti Posted September 2, 2020 Author Share Posted September 2, 2020 payonner takes 2% of the total amount in terms of dropped conversion rate, thats allno its not.they also exchange currency causing big loss for sellers.please don’t talk about what you don’t know or understand1 dollar is 3.36 shekels as for right now.payoneer gave me 3.28 shekels for each of my dollars, which means i pay the fixed 2% rate + 3% loss from terrible coin exchange Link to comment Share on other sites More sharing options...
husnainsaeed Posted September 2, 2020 Share Posted September 2, 2020 all coin exchanges charge amounts and even at physical currency exchanges you dont get the rate you find on google, so instead of bashing be patient and do good Link to comment Share on other sites More sharing options...
pixelart_eti Posted September 2, 2020 Author Share Posted September 2, 2020 all coin exchanges charge amounts and even at physical currency exchanges you dont get the rate you find on google, so instead of bashing be patient and do good3.36 to 3.28 is way more then any physical exchange store i have ever used.it’s usally 3.36 into 3.33 or 3.31 top Link to comment Share on other sites More sharing options...
alyonagrapie Posted September 2, 2020 Share Posted September 2, 2020 Payoneer’s fee is indeed just 2%, however there might be additional fees depending on the bank that actually sends you the money as you are basically getting a SWIFT transfer. There’s no way to know this in advance.Payoneer operates through different banks. For example, if I am lucky to get a payment from a local bank (also meaning I have to chose local currency) it might be free, but if the bank is located in US the flat fee can go up to $25-30. Link to comment Share on other sites More sharing options...
pixelart_eti Posted September 2, 2020 Author Share Posted September 2, 2020 Payoneer’s fee is indeed just 2%, however there might be additional fees depending on the bank that actually sends you the money as you are basically getting a SWIFT transfer. There’s no way to know this in advance.Payoneer operates through different banks. For example, if I am lucky to get a payment from a local bank (also meaning I have to chose local currency) it might be free, but if the bank is located in US the flat fee can go up to $25-30.i’m not talking about bank fee, but that the currency exchange is too high Link to comment Share on other sites More sharing options...
alyonagrapie Posted September 2, 2020 Share Posted September 2, 2020 i’m not talking about bank fee, but that the currency exchange is too highDoes it say anywhere that this is actually the exchange rate they use? From your posts I got the impression that you found it out by using math and not by seeing that number as their currency exhange rate upon withdrawal.Sorry if I misunderstood. Link to comment Share on other sites More sharing options...
pixelart_eti Posted September 2, 2020 Author Share Posted September 2, 2020 Does it say anywhere that this is actually the exchange rate they use? From your posts I got the impression that you found it out by using math and not by seeing that number as their currency exhange rate upon withdrawal.Sorry if I misunderstood.in the main they clearly say 1 dollar = 3.28when the global currency is 3.36 Link to comment Share on other sites More sharing options...
cubittaudio Posted September 2, 2020 Share Posted September 2, 2020 Are you sure about your numbers re PayPal? As they are usually (by far) the most expensive way to receive and convert foreign currency.In fact, I just checked their rates, and unless I’m mistaken, that’s even worse than Payoneer.Screenshot 2020-09-02 at 14.56.442300×1248 406 KB Link to comment Share on other sites More sharing options...
pixelart_eti Posted September 2, 2020 Author Share Posted September 2, 2020 Are you sure about your numbers re PayPal? As they are usually (by far) the most expensive way to receive and convert foreign currency.In fact, I just checked their rates, and unless I’m mistaken, that’s even worse than Payoneer.Screenshot 2020-09-02 at 14.56.442300×1248 406 KBi don’t do any exchange in paypal, i transfer my money as dollars and my bank has normal exchange rate, but payoneer force me to exchange to shekels Link to comment Share on other sites More sharing options...
cubittaudio Posted September 2, 2020 Share Posted September 2, 2020 fixed rate, like 2 dollars.that very good i can transfer 1000$ and pay 2$I’m confused then, because originally you saidso my only option is to use paypal and never use payoneer again, but then i have to wait like 7 days every time i transfer money from paypal to bank.And when asked about PayPal fees, you said;fixed rate, like 2 dollars.that very good i can transfer 1000$ and pay 2$All I was saying is that, if your bank deals in Shekels, and you’re receiving USD via PayPal, you’d be subject to an even worse rate than Payoneer. Link to comment Share on other sites More sharing options...
bigbrains Posted September 2, 2020 Share Posted September 2, 2020 I think my opinion will be a quite different from others. I would love to work with payoneer because the 3$ is charged by fiverr and not by payoneer but at the same time you cannot keep your money in paypal longer than one day when it comes to my country (India) they automatically transfer that amount to my linked bank but payoneer rate of exchange the currency is quite lower than that of PayPal. and if you are transferring a large sum of money say $500 or something than I think you should go for Payoneer on the other hand if you are withdrawing a small sum say $50 you should go for paypal because then you will save that extra 3 bucks.Hope this help, Link to comment Share on other sites More sharing options...
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