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What is the best way to withdraw money for indian sellers?


sunshy1

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I had withdrawn some money using payoneer 2 days back and it charged me 8$ for the transfer of money to my local bank . How much does paypal charge ? , if i create my account at paypal to transfer my money to my bank , is it costlier or cheaper ? Can anyone specifically tell me the charges paypal charge , from the transfer of money to our local banks ?



Thank You 🙂

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Reply to @kjblynx: Make sure you are from USA & I am from India. I am talking about bank transfer. I used both of them, When you select paypal as a option you will get your funds instantly, But sometimes paypal takes 7 days for bank transfer. Payoneer offer direct bank transfer to all Indian citizens because Payoneer Card is restricted by RBI (Reserve bank of India)



For me Payoneer direct bank transfer is the best option. Sometimes I receive my funds in less than 2 hours on my bank account.

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  • 1 month later...

There is a simple calculation for both Paypal and Payoneer :-

say, exchange rate $1= Rs.62.3150/-

Eraning-- $100



Pay pal

$100-$1= $99

exchange rate normally remain Rs.2/- lower than market rate, so 62.3150 -2= 60.3150/-

So,

Amount available in bank account = 9960.3150= 5971.185/-



Payoneer

$100-$1= $97

Exchange rate = 62.3150 - 2.75% 0f 62.3150 =62.3150 - 1.7136625 = 60.6013375

so,

Amount available in bank account = 97
60.6013375= 5878.329738/-



NOTE: exchange rate in Payoneer is higher

end amount is higher for paypal.



Now if the transaction amount is 1,000$ then Payoneer will be profitable.



I hope I am right, but if my wrong information/calculation please someone point out.

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