[Paypal Vs Payoneer (Indian Sellers)]

I went with the exchange rate of 28 May, calculations might not be 100% accurate but I think payoneer charged you 2%. On 28 May exchange rate was 75.98 and as I can see in screenshot, you were paid by the exchange rate of 73.98

$112 X 75.98 is ₹8,509.76‬

$112 X 73.98 is ₹8,285.76

₹8,509.76‬ - ₹8,285.76 = ₹224 ($3.02) (apart from $3 fee they charge on every transation)

₹8,285.76 - $3 (₹221.94) = ₹8,063.82‬

The 2% mentioned on Payoneer was 2% of the whole amount and not the exchange rate. Exchange rate on google are often a bit inflated. No company gives you the exact market exchange rate, not even your bank. It’s always a little less.

[Paypal Vs Payoneer (Indian Sellers)]

Paypal Vs Payoneer (Indian Sellers) - Your Fiverr Experience - Fiverr Forum - Google Chrome 07-06-2020 17_38_421366×728 70.8 KB

UPDATE: I made a small withdrawal of $112 a few days ago. And Payoneer charged $3 ( No extra 2%) for it.

[Paypal Vs Payoneer (Indian Sellers)]

By far, payoneer is the best option. I have been withdrawing from the past 6 months and they have never charged me any sort of additional fees yet. Not even the 3 dollars. They do not charge fees for indian sellers.

I don’t understand. In my Payoneer profile, it’s showing $3 + 2% charge.

[Paypal Vs Payoneer (Indian Sellers)]

I’ve been using Paypal for last 6 years.

I’ve also heard that the total charge can be upto 9-10%.

That’s not right. Paypal’s currency conversion fee is 2.5% (+18% GST) only. You can apply for refund of that 18% GST.

I’ve never tried Payoneer, not sure about their fees.

Thank you for your response. Can you elaborate?

[Paypal Vs Payoneer (Indian Sellers)]

I’m also interested in knowing this so let me know.

As for me, I’m currently using Payoneer and their conversion rate isn’t that bad but it’s definitely not accurate. So if on google 1USD = 75 INR, I’ll get a conversion rate of around 74INR.

As for their service fee, it’s a fixed $3 USD even up to payments of like 800 USD, that’s the max I’ve debited atm, soon I’ll be trying if the service fee increases if you cross the $1000 limit but I don’t think it will.

Also, I feel the confusion is there because their rates are different depending on where you’re from so definitely interested in knowing a detailed answer on this from Indian Sellers.

One thing that I’ve observed using Paypal’s currency converter is that their conversion rates are not very pleasing. I’ve also heard that the total charge can be upto 9-10%. Btw do you also get charged extra 2 percent of the whole amount along with the $3 fee as stated by payoneer?

[Paypal Vs Payoneer (Indian Sellers)]

I know that this question has been asked many times. But I can’t help it. The responses are very confusing. And I’ve also heard that Payoneer recently changed their fees. As an Indian seller, which one do you think is better and why?