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Bank Transfer? (or just Payoneer/PayPal)


krheate
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Hi there! I have a quick question. I currently have a debit card and an account set up with Fidelity (my bank), but I'm unsure on how to withdraw my Fiverr funds to that account. I did a little research on the help pages, and it mentioned that I could do a bank transfer (https://www.fiverr.com/support/articles/360011264098), but I don't see this option anywhere on my earnings page. How do I withdraw to my bank instead of either Payoneer or Paypal? Or is that not an option? Thanks!

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I haven't tried Bank Transfers as I'm so far happy with Paypal. But I can see the option for Bank Transfers just right beside where you usually withdraw from Paypal. You should see "Paypal Account", "Bank Transfers", and "Fiverr Revenue Card." 

I think their Bank Transfer option is facilitated by Payoneer.  Because clicking on "tutorial" (below) leads to Payoneer's support center.

https://www.fiverr.com/support/articles/4413109776273-Direct-deposits?segment=seller

How can I withdraw funds to my bank account?
Withdraw your funds and manage your withdrawal methods from the Earnings page. Watch this tutorial to learn more. 

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14 hours ago, theratypist said:

But I can see the option for Bank Transfers just right beside where you usually withdraw from Paypal. You should see "Paypal Account", "Bank Transfers", and "Fiverr Revenue Card." 

Oh, that's weird! I see "Direct Deposit" - is that the same thing as Bank Transfer?

image.png.81b7a86e428e3782b67a718e50aeb17b.png

14 hours ago, theratypist said:

I haven't tried Bank Transfers as I'm so far happy with Paypal.

I'm currently using PayPal, and I wanted to see if maybe it would be easier for the funds to go directly to my other bank, but I don't wanna make it too complicated and involve Payoneer, etc. I think I'll just stick with PayPal because it seems to be working the most efficiently! 😄

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1 minute ago, krheate said:

Oh, that's weird! I see "Direct Deposit" - is that the same thing as Bank Transfer?

Yes kinda, but its a feature only available for US-based sellers. So I can understand why you see Direct Deposit instead of Bank Transfer. 🙂

2 minutes ago, krheate said:

I think I'll just stick with PayPal because it seems to be working the most efficiently!

Hahaha! Maybe some US-based sellers will be able to see this post and they can chime in on their experience. Re: paypal vs bank transfers😄 

But I will tag my ever favorite @newsmike ahead for this hahahaha

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19 hours ago, krheate said:

How do I withdraw to my bank instead of either Payoneer or Paypal? Or is that not an option?

The third one I suppose, i.e. there seems to be no option to withdraw funds directly to your bank account. You may just have to go through Payoneer as @theratypistpointed out. Because the page @theratypist shared does state:

Direct deposits

Note: Direct deposits are only available to sellers who live in the U.S. If you’re a seller with a US bank account but live outside the US, direct deposit is not available to you. All direct deposits are powered by Payoneer.

Edited by surajkartha
Might I add.. "Payoneer/PayPal"
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29 minutes ago, theratypist said:

Yes kinda, but its a feature only available for US-based sellers. So I can understand why you see Direct Deposit instead of Bank Transfer. 🙂

Hahaha! Maybe some US-based sellers will be able to see this post and they can chime in on their experience. Re: paypal vs bank transfers😄 

But I will tag my ever favorite @newsmike ahead for this hahahaha

I think bank transfer is direct bank to bank, while PayPal is a 3rd party who allows transfers to individuals via the PayPal app. 

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19 hours ago, krheate said:

Hi there! I have a quick question. I currently have a debit card and an account set up with Fidelity (my bank), but I'm unsure on how to withdraw my Fiverr funds to that account. I did a little research on the help pages, and it mentioned that I could do a bank transfer (https://www.fiverr.com/support/articles/360011264098), but I don't see this option anywhere on my earnings page. How do I withdraw to my bank instead of either Payoneer or Paypal? Or is that not an option? Thanks!

You can link your Paypal to your credit/debit card and bank account. You do so inside of Paypal. I prefer Paypal, as it's quicker, in most cases, and I hate the UI over at Payoneer. When you transfer funds from Fiverr to Paypal, you can then transfer it from Paypal to your bank. It's the easiest and quickest way. 

The only advantage I can see with Payoneer, is that Payoneer automatically transfer the funds you withdraw from Fiverr, to your bank account, so it's one less step in the process. 

Payoneer = bank transfer. It's the middle man between Fiverr and your bank, basically. The Revenue Card is a different product, but again, from Payoneer. 

Edited by smashradio
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