Withdrawal of Funds In India 09/2016


#1

Dear Respected Sellers,

In case, I’m posting this in the wrong place then my apologies.

Most of the experienced sellers could shed some light on this. I would appreciate for your time and help to answer following questions from Indian sellers mainly-

  1. When we add paypal or bank account in our fiverr account, does it automatically starts withdrawing funds if available in the account?

  2. Can we add both paypal and bank account option? Can we withdraw using both at the same time? For example, if I have $200 available funds, I want to check which option gives me better INR. Can I withdraw $100 each from both? Can we control the withdrawal?

  3. What is the best option of withdrawal for Indians in 09/2016?

Thank you in advance for your valuable suggestions!


#2
  1. No, If you want to withdraw funds on Fiverr then you have to manually click a button on your Revenues page. For Payoneer minimum withdraw limit is $50 & if you’re using Paypal there is no minimum withdrawal limit.

Please note:

You can withdraw money 14 days after the order is marked as completed.
You can only withdraw once per 24 hours.

  1. Yes, You can setup both paypal & payoneer options but as I said it before you can withdraw once per 24 hours. I don’t think you can withdraw $100 from paypal & then another $100 from payoneer at the same time.

3.I’m Indian & I like payoneer because they will transfer your money in less than 24 hours. (Except: Sunday) You can trust a Level 2 seller & I’m working for than 2 years now :wink:

Btw, Many big sellers here like paypal. I still don’t get it why you will wait 2-4 days for your money, Some people are really impressed with their exchange rate. Paypal is not a bad option but in India it’s useless because you can’t use your instant paypal credits for online shopping due to strict RBI policy (Reserve bank of India) If you’re a Indian citizen then they will transfer your money in your bank account.

My personal favourite is Payoneer. (Easy & Fast)

For more info: http://support.fiverr.com/hc/en-us/articles/204060786-Withdrawing-Funds


#3

Yup you can use both the options for withdraw but I must say use bank transfer is best option because of it’s come small amount of charge for your withdraw and give fast translation

I hop this is helpfull


#4

@seoexpertishere - I’ve had the same question for a while. Thanks for putting it up!

@wpfalcon - from the aforementioned link, if we navigate to ‘Bank Transfer’, it says that there’s an additional fee that may apply based on the location & currency.
Would you (or anyone else) happen to know how much more would it cost for a bank transfer, here in India? Thanks.


#5

@wpfalcon Thank you so much for the detailed answer. I definitely believe in experienced sellers :slight_smile: By withdrawal at the same time I meant within a gap of days but just to check the INR I receive on same withdrawal amount.

Apart from the ease of transfer, what is conversion rate they both are offering?

Do we need to provide any documents to fiverr for payoneer? Would appreciate if you could tell about opening of payoneer and their requirements?

Bunch of thanks!


#6

@globlewritingso Thanks for answering :slight_smile: . I see you have mentioned your currently location as UK. So my question, if it’s applicable to you, if you have started working on fiverr from India and later you’re traveling round the globe and still working on fiverr. Will it be a problem as fiverr might be seeing random IPs we are login on from? Thanks to answer.


#7

@topcipher You’re welcome :slight_smile:

I’m just starting on my journey here. Experienced sellers are best to ask for their expert advice. It will help many new joiners to know what’s working good at this point of time. Cheers!


#8

For Payoneer minimum withdraw limit is $20, not $50


#9

wpfalcon already answered all your questions

Use payoneer it’s fast


#10

I don’t know, I prefer PayPal, it’s reliable and given me no trouble.


#11

For Indian sellers it’s $50 :slight_smile:


#12

Yes you can add 2 methods no problem,As you can see in your revenue page there are 2 options available one is Paypal and Another is Bank Transfer (Payoneer)

Paypal usually takes 2 Processing days and by the 3rd day anytime you will see your money in your bank account after cutting off $1 and remember conversion rate is always lesser than what you see on google

Payoneer is way faster than paypal you can get money easily in a day almost same processing fee just a little bit extra if you’r going up $1000,Last month i placed a transaction through payoneer and they deducted $3.5 for $822 i don’t know why

but i got SMS from bank within 6 hours only… So payoneer is better


#13

even i’m from india, i use paypal to withdraw my funds, whenever i withdraw from fiverr to paypal they charge 1$ fee after that i withdraw to my bank without any fee. of course it took 2 days to transfer from paypal to bank. i jus twant my money to come safe and sound with less fee, i don’t mind being late.


#14

yeah paypal is good , but fiverr cut down 1$ everytime we withdraw and paypal takes 5-6 business day with their unknown fees.
On the other side fiverr won’t cut anything while withdrawing to payoneer(bank transfer)
and payoneer is fast + take 2% charge fees


#15

I thought there payoneer processing fees is 2%
which means they should dedcuted 17.64$ from $822

Am I right? or is there something I’m missing


#16

try payoneer atleast once, you’ll see the difference


#17

For me Paypal is faster (couple of minutes) than Pioneer and in both cases it’s $1,- fee. Pioneer takes two days. However, I prefer Payoneer lately as I use money from Fiverr mainly for doing groceries and it’s very convenient the revenue directly charged to the card.


#18

Thank you everyone for sharing your views.

Interesting to find that some of you still prefer paypal despite receiving less INR compared to payoneer.


#19

ok sure, i will give a try :slight_smile:


#20

I don’t know my transaction was of 825. Something US Dollers and i received 822 in Payoneer account