About Fiverr's currency exchange rates and payout

[kikomori]

Hello,

I recently noticed that when I withdraw money from Fiverr (I’m European), it’s never the supposedly correct ammount I get by using a converter online. I’m losing about 9% of my earnings. After doing some research I’ve come to know that there’s no way around this, but the best way to procceed is to cash out in USD, and then do the conversion once the USD value goes up. My question is, how can I cash out in dollars? Fiverr is automatically converting it to EUR, doesn’t give me the option to withdraw in USD. In the bottom right, I’ve got USD selected, as well as on my settings. Is there a way to do this?

[visualstudios]

I’m in europe, and I get the money to Paypal in USD. What I can’t do is get the money out of Paypal in USD, so I’m stuck with their conversion fee.

[miiila]

Your settings don’t matter there. You have to pay attention while you withdraw. You can choose whether to withdraw in your local currency or in US$ during the process. For me, after Fiverr introduced the option to withdraw in local currency, it automatically had switched to € but after I had chosen US$ once, now my default is $ again. I still pay attention, though, as I think it might revert back to € perhaps after a site or windows update without me noticing.

[kikomori]

I’m in europe, and I get the money to Paypal in USD. What I can’t do is get the money out of Paypal in USD, so I’m stuck with their conversion fee.

But PayPal’s conversion fee is lower than Fiverr’s, from my understanding, right?

[kikomori]

Your settings don’t matter there. You have to pay attention while you withdraw. You can choose whether to withdraw in your local currency or in US$ during the process. For me, after Fiverr introduced the option to withdraw in local currency, it automatically had switched to € but after I had chosen US$ once, now my default is $ again. I still pay attention, though, as I think it might revert back to € perhaps after a site or windows update without me noticing.

But is it under “Earnings” as well? Never noticed that!

[visualstudios]

But PayPal’s conversion fee is lower than Fiverr’s, from my understanding, right?

I think it’s the same (2.5%). I just prefer to do it on Paypal because there I can choose the timing to convert when the dollar is strong.

[fahadashfaq2004]

Can anybody tell me what is the current fiverr exchange rate in dollars

[workumaidali]

I’m in europe, and I get the money to Paypal in USD. What I can’t do is get the money out of Paypal in USD, so I’m stuck with their conversion fee.

[abdheshkjha]

I use to Withdraw Fund in USD and the Fund goes to my Paypal in USD and it automatically convert it into INR.

[slightly_mad]

an idea would be to have an account in WISE or N24 for example, where you can receive in multiple currencies. There, you can receive from your paypal account in USD (without loosing $ from the paypal's conversion fee). In the same account you can have different wallets for different currencies. So, after you receive in your USD wallet, you can move the money to your EU wallet, with an exchange rate which is really one of the best in the market, in addition to having the option to wait until you get a good rate between EU-USD, so you minimise loss even more. Then you can either withdraw the money from any european ATM with your Wise debit card, or send the money to your european bank account and withdraw from there. In addition, WISE fees for transfering money to another account is really low, so you save a bit there as well.

I hope this helps.