Withdrawing to European Country. Payoneer or PayPal

[danielsemmelroc]

Hi,

I'm a Fiverr Seller from Austria (local currency is €) and I want to ditch PayPal currency conversion from USD to Euro because it is straight up robbery.

I have a TransferWise account in USD but no way of linking it to my PayPal account because it is an European PayPal account.

Would my best option be to ditch PayPal completely and use Payoneer instead? Can anyone confirm that I'll be able to add my Wise bank account in USD to Payoneer without problems?

Is someone currently living in Europe using a withdrawal setup like this and can confirm?

Fiverr $ -> Payoneer $ -> Wise $ -> Wise € -> European Bank Account €

Thanks!
Daniel

[Zahid I.]

According to payoneer official support conversation,

 

You can easily link you wise bank account to payoneer and withdraw funds. It may charge you 2% of your transaction amount.

Additionally, I think you can discuss fiverr support as I think fiverr have option where you can withdraw directly in EUR instead of USD.

[danielsemmelroc]

Fiverrs currency conversion rate is almost as bad as PayPals conversion rate so I'm trying to keep the money in USD until it is in my Wise account.

I didn't know about the 2% fee when using Payoneer, that sounds pretty bad as well, i thought there was a fixed fee like 3$ per transaction. 😕

Can you confirm the 2% fee?

[dimchu]

I'm interested too. Trying to setup the payoneer account to receive funds in EUR from Fiverr because it is impossible to convert USD in EUR inside Payoneer. I'm curious does it worth it to withdraw in EUR from fiverr.... 

[odinconnected]

Have you found a solution for this problem yet?

[odinconnected]

For anyone still looking for a Soltuion here it is.

 

Create a TransferWise Account link this to Payoneer then Proceed to Withdraw from Fiverr->Payoneer->Transferwise->To whatever you like.

Transferwise allows u to change it up to any currency you want or send USD Staright completely up to you, their Fees are also really fair with only 0.5%.

I just did this and from 508$ on Fiverr I netted 507$ on Transferwise which then was converted to 478.49€ in USD that is about 504,77$ at this current time, so they took about 0.47% as Fee.

This is the only solution I could find after researching this topic for hours.

And to be even more money cheap like I am, here is also a referral link to save even more by avoiding Fees entirely "A fee-free transfer up to €500 when they sign up with your link." This saves you another 2.5€.

This all is way more complicated then it should be but it is what it is for us EU Plebs 🙂

I hope this message does not get deleted because of the link below but if it does I just post it again without it, and recommend you use someones link randomly from the Internet to save the first fee.

Hope this helps people out!

https://wise.com/invite/u/raphaelt230

[critzalide]

When I have funds I constantly check the better and the chepest day on which doing the Paypal transfer. Sometimes I found it very very convenient. 

I know it's crazy but thinking about all that multi bank account... well too much stuff for me.  

Have a nice day