Jump to content

Paypal Or Payoneer bank transfer for Indian seller?


bmsviz47

Recommended Posts

Hey, an update on this. I have received the refund amount, so incase yours was stuck it will be sent back to you soon and Payoneer is way better in my opinion, it is safer and doesn’t need a lot of unnecessary document submissions, so I would suggest you go ahead with that. It does charge you a fee of $3 for transactions but if you are transferring larger amounts of money, this would be the safest way to go about it. Good luck 😃

Can you please tell payment conversion rate is it current market rate or is it different?

Like in PayPal conversion rate are below than actual rate.

  • Like 3
Link to comment
Share on other sites

  • 1 month later...

I use payoneer, for me it is perfect, funds are transferred to banks in 2 days or less, also be careful if you have banks like hdfc bank, because payoneer will transfer funds without converting it, but still take 2 % from you and then hdfc will charge extra for conversion (according to their own rates). for me I use SBI so I only get charged 2% by payoneer and they convert it and send it to my sccount.

Thanks for the help @wanderingartist. Can anyone here in forum with account in ICICI Bank can confirm about such additional charges for conversion while withdrawing money using Bank Transfer?

  • Like 3
Link to comment
Share on other sites

  • 1 month later...

I use payoneer, for me it is perfect, funds are transferred to banks in 2 days or less, also be careful if you have banks like hdfc bank, because payoneer will transfer funds without converting it, but still take 2 % from you and then hdfc will charge extra for conversion (according to their own rates). for me I use SBI so I only get charged 2% by payoneer and they convert it and send it to my sccount.

Hi, what is the minimum withdrawal limit from payoneer. I read it depends on our local bank. You are using SBI, have you tried to withdraw less than $20 or $50. Let me know . Thanks

  • Like 3
Link to comment
Share on other sites

  • 3 weeks later...

Thanks for the help @wanderingartist. Can anyone here in forum with account in ICICI Bank can confirm about such additional charges for conversion while withdrawing money using Bank Transfer?

If you use HDFC bank or like that, they will charge extra for conversion, best use Indian banks like sbi BoB payoneer will charge 2% or so but it will convert the amount. Once I withdrew to my HDFC bank and they charged 6% conversion fees then then 18%gst like wtf ??

  • Like 3
Link to comment
Share on other sites

Guest logosupreme

@bmsviz47

Payoneer works best. It charges $3 on bank transfer, no matter what the amount is. While PayPal charges a percentage on the given amount so an Payoneer would be better compared to PayPal when it comes to withdrawing money.

Hope this helps.

Link to comment
Share on other sites

@bmsviz47

Payoneer works best. It charges $3 on bank transfer, no matter what the amount is. While PayPal charges a percentage on the given amount so an Payoneer would be better compared to PayPal when it comes to withdrawing money.

Hope this helps.

Hi,

I got a doubt -

I got a e-mail earlier from payoneer that says ‘Payment transferred to your bank account’ but the amount haven’t yet added to my local bank account and to my payoneer account. Any idea on how long it takes? (This is my first withdrawl from fiverr)

Thankyou!

  • Like 3
Link to comment
Share on other sites

Guest logosupreme

Hi,

I got a doubt -

I got a e-mail earlier from payoneer that says ‘Payment transferred to your bank account’ but the amount haven’t yet added to my local bank account and to my payoneer account. Any idea on how long it takes? (This is my first withdrawl from fiverr)

Thankyou!

Depends upon on which day and at what time have you initiated the transfer from Fiverr.

In my experience, on weekdays, when I initiated the withdrawal before 9 AM, it gets transferred the same day by evening.

And when initiated on Saturday or say after 12 PM, it takes 2-3 days.

Good luck on receiving first payment !

Link to comment
Share on other sites

Depends upon on which day and at what time have you initiated the transfer from Fiverr.

In my experience, on weekdays, when I initiated the withdrawal before 9 AM, it gets transferred the same day by evening.

And when initiated on Saturday or say after 12 PM, it takes 2-3 days.

Good luck on receiving first payment !

Thankyou so much for the reply!

I received the cash within a day 😄

  • Like 3
Link to comment
Share on other sites

  • 4 months later...

 Hello, i just notice this message fron Payoneer.

I'm not fluent in English, so i personally didn't understand what is this mean. 

It says: We're writing to let you know that there are some fee adjustment coming into effect soon on Fiverr Ltd. Payouts international disbursement.

in 2018, we introduced a standard loading fee that is deducted when payments are disbursed from marketplaces and companies.

While this fee was not collected right away across all payment methods, we're writing to inform you that a fee of 3.00 USD will start to be collected from disbursement by Fiverr Ltd. Payouts international in 60 days, from November 3, 2021

This fee will only apply for payments you receive from November 3, 2021 onwards and will not be collected retroactively.

We appreciate you business and would like to thank you for you continued support

Thank you, 
The Payoneer Team

*if you do not agree with this change, you can terminate your Payoneer account with no additional charges by contacting us before November 3, 2021.

 

Does it mean every income i get from Fiverr and if i'm using Payoneer to withdraw it to my local bank it will cost me $3? 

 

P.S: i have the screenshot but strangely i can't attached it here.


Thank you in advance.

  • Like 7
Link to comment
Share on other sites

  • 3 months later...
On 12/4/2020 at 1:38 AM, mahimagad said:

Hey, an update on this. I have received the refund amount, so incase yours was stuck it will be sent back to you soon and Payoneer is way better in my opinion, it is safer and doesn’t need a lot of unnecessary document submissions, so I would suggest you go ahead with that. It does charge you a fee of $3 for transactions but if you are transferring larger amounts of money, this would be the safest way to go about it. Good luck 😃

Hi,

From when Payoneer started charging $3 per transaction? As I read through old topics there were 0 Transfer fee for Indian users

  • Like 3
Link to comment
Share on other sites

  • 5 months later...

This answer is specific for INDIAN Seller's Only : 

Paypal Charge 2.5% per transaction or 3 rupees per dollar as a exchange commission ( lets call it variable cost )

where payoneer charges 3$ as commision per transaction ( lets call it fixed cost ) and its exchange rate is = market current rate of exchange

so for example 1) 

if you earn 100$ and exchange rate is 80rs per $

then if you withdraw from paypal you get (100x80x(100-2.5)%) = 7800

But if you withdraw from payoneer you get 97x80 = 7760

so paypal is better here since it give 40rs more than paypal

 

so for example 2)

if you earn 200$  and other codition are same as above example i.e.  exchange rate  is 80rs per $

then if you withdraw from paypal you get (200x80x(100-2.5)%) = 15600

But if you withdraw from payoneer you get 197x80 = 15760

so here payoneer is better since it give 160rs extra than paypal

 

 

So conclusion is if you want to withdraw upto 120$ then choose paypal

but if you want to withdraw more than 120$ then choose payoneer

 

  • Like 3
Link to comment
Share on other sites

Please sign in to comment

You will be able to leave a comment after signing in



Sign In Now
×
×
  • Create New...