Fiverr Community Forum

Withdrawing funds (bank transfer)

Hi!
I’ve been withdrawing funds to Payoneers prepaid card for 3 years. Now I decided to withdraw funds directly to bank account. So as I know I have to add bank account to Payoneer first. So is it better to keep withdrawing funds to prepaid card or to bank account. When I withdraw money with Payoneer card from ATM it charges me 3$ for transaction + 3.5% for currency conversion. So imagine how much money I lost when I withdraw 500 from atm. What will be the fees if I withdraw to bank account. When I withdraw funds to bank account from Payoneer, it charges me 2%, + % for conversion. So I opened bank account in USD in my local bank. After that blah blah that I’ve written I want to ask what do you prefer? Should i continue to withdraw funds to prepaid card or better to move to " bank transfer "? Thank you!

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One of those “which foot would you rather shoot” questions imo. Smart move for you to get an account in USD though. Fees fees fees. Then one last fee lol. What was the $500 after all said and done?

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When I withdraw 500$ from atm, Payoneer charges me about 20$ for withdrawal + conversion.
Payoneer will charge 2% if I withdraw my money from Payoneer account to my bank account.
I want to withdraw 1000$ to bank account from the payoneer card, so it means I will get 980$. What if I withdraw to my bank account directly from Fiverr, how much I will be charged ( I still need to add bank account to Payoneer). It is what I want to know.

I use paypal and then convert to my local currency. I lose a ton Iof money transferring the funds alone. I think I worked when all is said and done (20% to fiverr and an unknown amount to paypal and conversion loss) that I never get more than about a 70% cut. I don’t know what the most efficient way is, but you lose a significant amount no matter what.

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It’s going to cost $3

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Thanks! So it means Fiverr charges 3$. But bank transfer still going through Payoneer, so Payoneer charges nothing?.

No, the money goes to Payoneer. Fiverr won’t charge for the transfer. At least that’s what happens in my case. I’m not sure if it applies across the board.

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I think Payoneer will still charge you 2%. That’s better than using the ATM though.

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Transfer from fiverr to Payoneer doesn’t cost a penny.
Transfer from Payoneer to local bank cost $3. I am using transfer to local bank and I think there is no conversion fee.

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Yes, I use prepaid card. From Fiverr to Payoneer it cost only 1$. Conversion fee is charged only in local bank. So it means if I withdraw money from Fiverr to local bank I will be charged only 3$, and payoneer will not charge anything right? I am asking it because I need to add bank account to Payoneer first to directly withdraw from Fiverr to bank acc.

Yes, you’re right. You can also read the Payoneer policy statement.

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Thank you! I just want to open new bank account in local bank. That is why i was I interested which one is better prepaid card or bank transfer. Card charges a lot especially when I withdraw big amount of money on atm

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No! Payoneer has 2 options for card withdrawal from Fiverr

  1. $3 fee for instant withdrawal
  2. $1 fee and you’ll wait for 3 days
    Whichever option you’ve selected on your first withdrawal is automatically applied for all further transactions.

1$ - 2 days, 3$ - 2 hrs. But when I select instant withdrawal it takes just 30 minutes

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