Request for Additional Payment Options on Fiverr

[glow_writer]

On 1/12/2022 at 7:05 AM, donnovan86 said:

Adding Cryptocurrency would just involve extra costs for Fiverr. Then there's also the fact that Crypto is very volatile, and some gigs tend to take 15-20 days or more to complete. By the time those 20 days are over, the cryptocurrency can end up losing a lot of value, take Bitcoin who had a massive drop recently. Fiverr still has to pay you in dollars, the amount that was purchased. And trust me, Fiverr won't take a loss on this.

There are many other reasons, but for the one I said above, I am 99.999999% confident they won't ever add crypto payments unless they go for a stablecoin or something that doesn't lose value.

I mean, they can use stable cryptocurrencies like usdt and busd.  It is a no-brainer. Those are rarely volatile. 

[dereck_s]

I'd love to be able to setup direct deposit to my bank where I wasn't going through a 3rd party like payoneer.

[jitsaman]

Please add custom amount withdrawal option! It can make the money management more easier for we sellers and eventually turn us into the potential buyers as well, to buy services and products over Fiverr easily. I do believe it'd be a win/ win for both of us (Fiverr and sellers).

[ashfaq_hossain]

It would be a great step and will be helpful for us. Please add WISE as a withdrawal option.

[zy_tech]

Skip on Uncle Sam money? or do i still need to pay tax? 😛

[mmicch]

That would actually make such a great difference!

[visualstudios]

2 minutes ago, demirartz said:

Hello, Payoneer made a policy change about the account's annual fee: "If the account receives less than $2000 annually, a fee of $29.95 will be deducted." this is almost for everyone.

A new payment method other than local bank transfers would be great to have on Fiverr.

1 - Where's the data that shows that applies to almost everyone?

2 - Fiverr offers PayPal as well

3 - Crypto would be interesting, but I don't see that happening, still lots of issues with that market

[donnovan86]

1 hour ago, demirartz said:

For instance Cryptocurrency withdrawals such as USDT.

Crypto is very volatile and in order to offer crypto payments, Fiverr would need to hold crypto. That means they risk losing a lot of money. USDT can be an option, but there's way too much hassle to add crypto payments. 

1 hour ago, demirartz said:

and that makes $60 fees yearly so Payoneer is going expensive day by day on fees.

If you receive less than $2000 a year and you are a full time freelancer, it might be time to find a new career 🙂

[donnovan86]

5 minutes ago, demirartz said:

Also, my problem is not with that being $2000, but with being separate from the Payoneer card fee. It makes a total of $60, in the future they may raise it even higher.

Isn't that also if you earn under $2000 a year?

[smartdezigns]

1 hour ago, demirartz said:

Hello, Payoneer made a policy change about the account's annual fee: "If the account receives less than $2000 annually, a fee of $29.95 will be deducted." this is almost for everyone.

For instance Cryptocurrency withdrawals such as USDT.

Hello too

Just asking: Can't you pay approx. $30 per year (Payoneer) if you are unable to earn $2000 per year? It's per year.. not monthly.. Isn't a good thing? 

You can consider it as an investment purpose as Payoneer is the most safest platform. 

About Cryptocurrency: It's banned in some countries as it's illegal that's why there is no possibility that it will be launched as a new payment method.

I think it will be $29.95 per account whether you have a Payoneer card or not.. I might confirm this via Payoneer Live Chat (next week or tomorrow)

[donnovan86]

13 minutes ago, demirartz said:

If it's the card fee, no it's not. They charge the card fee separately not depending on how much you earn.

Every bank charges you a fee for the card. I think $30 per year is fair, mine charges $5 per card every month so...

[smashradio]

3 hours ago, demirartz said:

Hello, Payoneer made a policy change about the account's annual fee: "If the account receives less than $2000 annually, a fee of $29.95 will be deducted." this is almost for everyone.

A new payment method other than local bank transfers would be great to have on Fiverr.

For instance Cryptocurrency withdrawals such as USDT.

This is only a problem for people earning less than 2000 annually. If you're one of them, it's time to reconsider if freelancing is for you. 

[donnovan86]

17 minutes ago, smashradio said:

This is only a problem for people earning less than 2000 annually. If you're one of them, it's time to reconsider if freelancing is for you. 

Yep, exactly what I said. If you can't afford a debit/credit card's monthly charges and you earn under $2000 a year, then you definitely have to rethink your freelancing career!

[smashradio]

5 minutes ago, donnovan86 said:

Yep, exactly what I said. If you can't afford a debit/credit card's monthly charges and you earn under $2000 a year, then you definitely have to rethink your freelancing career!

Sorry - didn't see that - or I would have mentioned that my esteemed colleague pointed this out already. Sorry for hijacking your point. It's a good one, though! Great minds think alike? 

Edited June 29, 2023 by smashradio

[dariodelos]

I subscribe to this idea, it would be very convenient for me if Fiverr would add ACH withdrawal to the Wise account.

[artbrahim]

In my opinion, fiverr should adapt to the times and be able to transfer our money wherever we want with crypto. Because Payooner already cuts $3 when you transfer money from fiverr. In addition, as if this is not enough, it converts the money under the instant rate and sends it to your bank.
Or it needs to add other money transfer methods. All I want is to protect fiverr sellers and create an environment where they can feel better at work.

[rare_art]

Does Fiverr only support Payoneer? not Wise?

[janangachandima]

i think stablecoin will be good. 

[deniskralj]

My Payoneer account just got restricted today with the e-mail saying I failed to upload my documents, while they have my new ID and all available info uploaded in March, and now it's under review. I never received any email to upload or verify my Identity. My card is blocked and I must wait for Monday to actually contact live support. I've been using Payoneer for almost 7 years, and this never happened before. I really wish they add Skrill or any other option, Paypal is good for nothing, and Payoneer is getting worse and worse. Did anyone else have similar problems regarding Payoneer?

[deesajn]

Hi mate,

I'm in the same situation. I uploaded the documents they requested, which was absurd. They wanted me to prove that I have a website with my name and address displayed, and in addition, they asked for an invoice from Fiverr to show my source of income. However, Fiverr doesn't issue invoices, so that became a challenge. 

Eventually, they asked for an invoice related to a payment a client made for artwork I completed for him two months ago. Since providing that invoice, nothing has changed. My account has remained fully functional, but the invoice has been under review for two months! This past Saturday, they sent me an email saying they blocked my account because I hadn't sent the requested invoice. I was shocked. When I logged into my account, I saw a notification indicating my balance was blocked. In the verification centre, there was no request for any additional documentation. So, I submitted a ticket and am now awaiting their response.

Honestly, it's ridiculous. How can a massive company like Fiverr rely on such a flawed payment system? There are countless payment systems far superior to the messy and chaotic Payoneer. I'm genuinely surprised they're still using this subpar service.

Fiverr, come on, you can do better. We all deserve better!

I've been with Fiverr since 2015, and their choice of payment provider hasn't evolved at all. It's truly a shame.

[deesajn]

@deniskralj Check out my thread: 

 

 

[deesajn]

I'm not sure if that thread was the reason, but today they unblocked my Payoneer account. How about you @deniskralj

[harryecom]

+1 

[whildebrand]

@smashradio PayPal and Payoneer present significant drawbacks:

1.) Payoneer's debit card requires a minimum top-up of 500 USD (to the best of my recollection). In contrast, other banks and payment providers like PayPal automatically deduct the transaction amount from the available main currency balance, making it far more convenient for freelancers. However,

2.) PayPal imposes exorbitant USD to EURO conversion rates that can climb as high as 3.5%. For EU residents, this effectively results in a loss of around 13.5% (comprising fees and exchange rate differentials).

3.) While PayPal supports instant transfers, the same functionality is not as effective in Payoneer (at least in my personal experience).

4.) My attempt to employ Payoneer as an intermediary for transferring funds to my local bank or Revolut proved less than ideal. To start with, Payoneer lacks support for instant transfers, causing delays of several days (this after a two-week wait on Fiverr). Furthermore, free transfers are confined to the currency of your country of residence. Any attempt to transfer USD to a European bank or services like Revolut incurs a 2% charge from Payoneer.

5.) The well-remembered Payoneer incident during the Wirecard collapse (a company Payoneer relied upon) when our funds where frozen, significantly damaged my trust and was a shocking experience. Trust is paramount in the banking sector and trust has eroded as a result of the incident.

In essence, the existing transfer framework ensures that either PayPal, Payoneer, or Fiverr profit from currency exchange. There's no cost-free avenue to channel your PayPal USD funds to a European bank. This central issue affects all Europeans or individuals residing in countries with non-dollar denominated currencies.

Superior fintech banks like Revolut or Wise are more tailored towards freelancers in many regards. Take Revolut, which offers great interbank rates for currency conversion (surpassing the exchange options on Fiverr, PayPal, or Payoneer by far). Additionally, they grant the flexibility to choose the local ATM currency for your debit card — a feature valued by digital nomads. Comparatively, companies like Payoneer and PayPal appear antiquated and restrictive. Wise is also a good option.

I personally speculate why Fiverr confines transfers to PayPal and Payoneer as exclusive options; there may be some kickback deal agreements in place, or it helps sustain their currency exchange business's competitiveness. Incorporating Revolut would likely diminish the reliance on Fiverr, PayPal, or Payoneer for currency exchange, as Revolut's xchange rates are very, very good. 

Since this is our hard-earned money, the notion of begging for the ability to transfer funds to our own banks seems unreasonably. Such discussion shouldn't even be necessary. In some countries it is even unlawfull to restrict transfer options (from employer to employee). An urgent solution is needed to directly channel USD to our banks (be it Revolut, Wise, or local banks in our country of residence) without incurring excessive fees. Fiverr already profits from each transaction, charging buyer and seller fees, alongside benefiting from the unfavorable exchange rates. It's uncertain if they also receive incentives from Payoneer and PayPal, but that is really not the issue here. They deserve it, but they should'nt restrict our transfer option as a result of it.  

Once approved, the funds are supposedly ours, but this really only holds true if we can independently decide our own preferred bank for transfers—eliminating the burdensome cycle of recurring fees.

Personally I don't think Fiverr will ever act or make any changes to its current fund transfer policies (sorry to disappoint), as they are subject to profitability and share-holder scrutiny. Things will probably only change if there are laws in place that warrant that "employees" are allowed to tranfer to their bank of choosing directly. But that also seems very unlikely, because there are complicated jurisdiction issues: Both Fiverr and Payoneer are companies with HQs in Israel, so US or EU laws most certainly don't apply. I guess that is one of the drawbacks of working with a non-US or non-EU platform.

[deniskralj]

They unblocked my account and then today blocked it again when I tried to withdraw funds saying I didn't provide bank details and I don't even use a bank. I asked for a payment using a Fiverr revenue card, and the customer support said it was a mistake and that they would refund me back on Fiverr. The next email I got was that my Payoneer account was blocked and to register for a new one. I'm guessing I'll never get my money, I cannot go to live support chat because I cannot log in and if I open a ticket I get generic FAQ answers. Thank you, Fiverr for your partnership with the worst platform I've ever encountered in my life, including the worst customer support I ever spoke with.