Fiverr's DIRECT DEPOSIT. [ACTIVE - Please discuss new DD feature here]

[Guest superb_articles]

Hey guys, I just checked my revenues page and I observed that Fiverr has a new payment method. It’s called “Direct Deposit”. Does anybody know what it’s all about? Does it mean we can link our banks directly?

[fonthaunt]

Reply to @emasonwrites: I don’t see how it would be the same fees. If PayPal is $1 after $50 and the new direct deposit with Payoneer is $3 - direct deposit appears more expensive. Maybe I am missing something.

Ah, never mind. I see now there are 2 transfer options and one of them is a buck. My mistake.
Missed this:
http://forum.fiverr.com/discussion/83429/announcing-a-new-way-to-withdraw-your-fiverr-earnings

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[mark74]

Reply to @superb_articles: currently the process involves Payoneer for what I’ve seen, so Fiverr is not doing it “directly”.
But this is what I know and what I’ve seen till now, so it’s not official!

[ilovenish]

I’m from Indian and “Bank Transfer” option is available from last 2-3 months, never tried though.

[sue_mcl]

So is this direct bank withdrawal actually just a withdrawal to payoneer?

So then you have to wait for it to clear with payoneer, then get it from payoneer to you via another transfer? I am a little confused about how it all works - fiverr can you please explain it in more detail?

I thought it was like on other freelance sites, where direct bank transfer, literally means, you get money deposited into your account, but this seems to be just two different buttons for the same payoneer withdrawal option?

[Guest superb_articles]

Reply to @dungdung: Yes it will be converted. Usually, it doesn’t really follow the day’s exchange rate. It’s usually a bit lower but all those are charges from the company handling the payment.

[Guest superb_articles]

Reply to @sue_mcl: Actually, this changes a lot. By implementing this, you don’t have to go through Payoneer’s website in order to get your money. You can finish everything from Fiverr and the same charges will still apply. Though this time, easier

[inspiredtony]

looks good but how secure is this method? i dread to wake up one morning and discover all my money from my bank account gone.

[mark74]

Here is the official Fiverr blog post: http://blog.fiverr.com/announcing-a-new-way-to-withdraw-your-fiverr-earnings-2/

[emasonwrites]

Reply to @mark74: Sounds like a pretty good deal…same fees as a PayPal transfer (above $50). Now, how safe do we think it is?

[Guest photoshopbeauty]

Reply to @fonthaunt: This is amazing…I like this feature 🙂

[mark74]

Reply to @emasonwrites: same fees as a Paypal transfer… yes but… are we sure that there’s no other fee to transfer funds to your bank? And what about transfer time?
I mean, when I withdraw on Paypal I know I can use that money immediately (both over internet and using a Paypal debit card), while sending money to the bank account takes at least a couple of days…
More: direct deposit is possible only in US, while for all other countries we just have the Payoneer service which has higher fees (unknown right now, because you can read about the $3 withdrawal fee, but you could also have other fees depending on location).

In short, for me sending money to bank account is really not an option I can consider: Paypal is safe, it’s fast and it’s on the market from several years…

[sue_mcl]

Reply to @superb_articles: I can’t see anything to indicate that - the blog post just talks about how to set up the service (ie register with payoneer), not what happens after it is set up - how do you actually get the funds once you go through that set up process with payoneer.

If it is basically the same as paypal, where you transfer to paypal, then you have to go to paypal and transfer to your local bank account, then this is pretty much the same as paypal, but without the benefit of an established and well known money system. How do you know that you can finish everything from fiverr?

Plus, there is no information about what extra fees may be charged - just that there might be some, which is pretty frustrating 😕

[facebookshars]

I hope Fiverr will add more popular payment method Like Neteller

[seo_alchemy]

So how long does the direct deposit transfer take then?

Some insight from MODs who maybe have some communication channels to Fiverr staff would be great.

I for one will not make the switch if there is a 3-5 (or longer) day waiting period on direct deposit. I would be happy to test it out by switching to direct deposit, but why in the world can I not switch back to Payoneer or Paypal if I don’t like it?

[mark74]

Reply to @seo_alchemy: unfortunately we currently don’t have more infos than you 😦

[logo_desing]

Yes you are 100% right. now you can withdraw you money by direct to your bank account.

[theratypist]

Until I read a lot of positive reviews that this thing is wonderful to use and better than Paypal, I’m going with it. For now, I’m sticking with my basic Paypal method hihihi

[misscrystal]

Paypal has proven over many years to be bug and hack free.

[Guest havardh]

@misscrystal exactly. Paypal is hack free

[alysmcdonough]

I messaged fiverr when this first came in about fees etc. Read the small print, it may not just be $3. fiverr was unable to assist me with a couple of basic questions and said to contact Payoneer. Which I didn’t because I figured why not just use Paypal.

[gabriela44]

Hola a todos, espero y con mucho entusiasmo conectar con ustedes en la comunidad fiverr.

[syedsimanta03]

Superb to see options like this being added.

[Guest selectwearplus]

That’s exactly what it means. Isn’t that superb? If you select this method, don’t think for a second that your money will be available in your account immediately after you receive your payment confirmation email from Payoneer, the company conducting Fiverr’s transactions. Its email clearly states that it takes up to three business days. If you don’t receive it within that time, permit the company another three days before you contact it to ask about your deposit. I like direct deposit. Go Fiverr!

[ryankuhn]

Just went through the setup process yesterday and when I checked Payoneer I see this message. $15 per transfer!!

[Guest jdadvertising]

Reply to @mark74: is that paypal credit card only available in certain places?