Preferred payout method for Indian sellers [Updated charges]

[shivani_vo]

Hey Indian sellers, I've gone through the following topic discussed a few years ago - 

However, on clarifying from Payoneer and Paypal, it seems the rates they've mentioned on the above forum seem outdated. I wanted to ask you guys, as a beginner seller with limited payouts, what's the best payout method given the fees charged by each platform is quite a lot.

[priyank_mod]

I started with Payoneer as a new seller in 2020 and so far it has worked flawlessly and 99% of the times they transfer the payment on the same day (Monday to Friday). So, never bothered trying PayPal so far.  

I understand that as a beginner, transaction fee would sound a lot if your gigs have basic pricing but with time as you will grow and increase prices, it will not pinch too much. You can also target completing more orders every month and execute monthly transfers to minimize the impact of transaction fee.  

[shivani_vo]

2 hours ago, priyank_mod said:

I started with Payoneer as a new seller in 2020 and so far it has worked flawlessly and 99% of the times they transfer the payment on the same day (Monday to Friday). So, never bothered trying PayPal so far.  

I understand that as a beginner, transaction fee would sound a lot if your gigs have basic pricing but with time as you will grow and increase prices, it will not pinch too much. You can also target completing more orders every month and execute monthly transfers to minimize the impact of transaction fee.  

Thank you for your response and support! If I may ask further, for Payoneer what would you recommend - Payoneer directly or Bank Transfer using Payoneer?

Also, how much are you being charged by Payoneer for the transfers?

 

Edited September 19, 2023 by shivani_vo

[priyank_mod]

1 hour ago, shivani_vo said:

Thank you for your response and support! If I may ask further, for Payoneer what would you recommend - Payoneer directly or Bank Transfer using Payoneer?

Also, how much are you being charged by Payoneer for the transfers?

 

You can opt for Bank Transfer using Payoneer, which will credit the earnings directly to your local bank account. The transfer fee is fixed at $3. 

[shivani_vo]

1 hour ago, priyank_mod said:

You can opt for Bank Transfer using Payoneer, which will credit the earnings directly to your local bank account. The transfer fee is fixed at $3. 

Thank you so much! I really appreciate it.

I've registered on Payoneer as per your guidance. Seems overall their exchange rate is better than Paypal too.

Although being a beginner, I'm a bit apprehensive about Payoneer's annual fee if transactions in a year are less than $2000, but let's hope for the best!

Edited September 19, 2023 by shivani_vo