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Who offers the highest conversion rate, Fiverr or Paypal?


agenciawem

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I just noticed that Fiverr offers me the possibility to transfer funds to my Paypal account in my local currency (mxn); I've never liked Paypal that their conversion rates are lower than the market average, I wonder if converting from fiverr to my local currency is a more convenient deal, does anyone know? Thanks
Verifying it myself is not that easy, as at least paypal changes daily the value of the currencies and fiverr only allows one withdrawal a day... .

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4 minutes ago, agenciawem said:

I just noticed that Fiverr offers me the possibility to transfer funds to my Paypal account in my local currency (mxn); I've never liked Paypal that their conversion rates are lower than the market average, I wonder if converting from fiverr to my local currency is a more convenient deal, does anyone know? Thanks
Verifying it myself is not that easy, as at least paypal changes daily the value of the currencies and fiverr only allows one withdrawal a day... .

Both are really bad. I don't have the numbers in my head, but I believe Fiverr has a slightly better exchange rate than Paypal, but we're not talking much. Then there's the fees you have to pay to Paypal, Payoneer or to have a prepaid Revenue Card. Either way, you're going to pay about the same. There will be slight differences in fees. Some will have better exchange rates but higher fees, some will have the opposite. 

Unless you have a US bank account, you'll lose. 

I've heard about people using Transferwise, since that offers you a US bank account (at least, that's what I've read) and lets you transfer to a US account in USD, and then get access to their, allegedly, better rates. 

I haven't tried or researched this option myself, but I found a guy who has indeed done exactly this: https://jimonf1.medium.com/save-yourself-from-fiverrs-foreign-exchange-fees-210ff5d2db99

So that could be a way if you absolutely aren't willing to suffer Paypal or Fiverr exchange rates. 

Personally, I don't really care. It's a few dollars every now and then to transfer. I pay about 2% of my total revenue in fees, not counting Fiverrs 20% fee for orders. 

I don't think that's too bad. I use Paypal to transfer to my Revolut account in USD, and then I exchange that for Euros inside the Revolut app. They have ok rates. 

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UPDATE 2023! 

If anyone stil wonder about this question, now a have a clear answer. FIVERR gives a better rate! Or at least in their new system that allows you to withdraw funds in your local currency, and in the case of MXN.

Just today I noticed this feature, which I really liked, and although the difference is small, it becomes another point in favor of Fiverr. Today I found that Fiverr offered me a conversion rate of 17.644375 MXN per dollar. And, this same day, withdrawing via Paypal, I received a conversion rate of 17.525625 MXN per dollar; that is slightly more convenient to convert before to my local currency, than to allow Paypal to apply the usurious conversion rates they wants. I hope you find this useful.

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