Paypal - Fiverr question

by IsayHey

Posted: 13 years ago 15 replies

INTERNET MARKETING

Hello, I am coming up to my big withdrawal on Fiverr and I was just thinking about how much I will lose when it comes to paypal..

I live in the UK therefore currency conversion rates mean I get paid less, paypal will then take a % of that Fiverr Pay in.

So, say I withdrew $4 from Fiverr and put it into my PayPal, how much would I have left after all of these fee's?

Fees Info
3.4% pay in fee for PayPal
This is what they say about conversion:
If your transaction involves a currency conversion, it will be completed at a retail exchange rate determined by PayPal. This rate includes a 2.5% spread above the wholesale exchange rate at which PayPal obtains foreign currency.

A cross-border fee of 0.5% may apply. This fee is waived for UK sellers who are registered with PayPal in a European Union country and who receive payments in Euros from other EU countries.

Any idea's on what I would have left? Thanks.

#fiverr #paypal #question

socky Banned 13 years ago

If you withdrew $4 PayPal would probably take .40ish. It's pretty bad. Are there other ways you can withdraw?
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- IsayHey 13 years ago
  
  Originally Posted by socky
  
  If you withdrew $4 PayPal would probably take .40ish. It's pretty bad. Are there other ways you can withdraw?
  
  No But I could make an american account so the conversion would not be needed? How much would that help.
  
  Thanks
  
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alphadesign 13 years ago

I lost about $2-$5 from $360 withdrawal. So I got about $355 from $360 withdrawal
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IsayHey

13 years ago

Originally Posted by Danielle Clarke

I just withdrew $100 from Fiverr. It showed up in my PayPal account as $86.08.

I'm in the UK too and so that converts to about £52.

The moral of this story is: Fiverr works well if the gigs are push-button types, take under 10-15 minutes, or you're using it primarily as a means to market yourself!

Paypal is such a rip off! Im gonna end up with nothing

Thanks

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Vlad Bacioiu

13 years ago

Let's see a test : your first gig The buyer pay $5 , you get just $4(see in your balance revenues because fiverr get $1). After 14 days , when you can withdrawal your money , you'll recive in your paypal just 3.92 ! ( paypal fees )
If no one would take taxes, these companies would not exist!~-
A company does not work without profit.

Thanks
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IsayHey

13 years ago

Originally Posted by Vlad Bacioiu

Hm, that is a point.. but its still quite expensive!

How much would I have left o that $3.92 once converted? Something like £2.20?

Thanks
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Vlad Bacioiu 13 years ago

Originally Posted by IsayHey

Hm, that is a point.. but its still quite expensive!

How much would I have left o that $3.92 once converted? Something like £2.20?

when you transfer money to your personal card, depending on the exchange rate that your bank uses.
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- IsayHey 13 years ago
  
  Originally Posted by Vlad Bacioiu
  
  when you transfer money to your personal card, depending on the exchange rate that your bank uses.
  
  I see, will it not convert as soon as it goes into my Paypal then? Because my paypal is a UK one.
  
  Thanks
  
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  simplybeastz 13 years ago
  
  Originally Posted by IsayHey
  
  I see, will it not convert as soon as it goes into my Paypal then? Because my paypal is a UK one.
  
  Issay , I get $3.92 from each $4! That's why it's advisable to withdraw large amounts because less is taken by PayPal.
  
  Thanks
  
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  IsayHey 13 years ago
  
  Originally Posted by simplybeastz
  
  Issay , I get $3.92 from each $4! That's why it's advisable to withdraw large amounts because less is taken by PayPal.
  
  Oh I see, how much did you have after conversion? And okay, I shall withdraw once I have a large withdrawal.
  
  How much would be took from $88?
  
  Thanks
  
  1 reply
  
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  Vlad Bacioiu 13 years ago
  
  Originally Posted by IsayHey
  
  Oh I see, how much did you have after conversion? And okay, I shall withdraw once I have a large withdrawal.
  
  How much would be took from $88?
  
  Let's do the maths, if we get 3.92 for each 4$.
  $88 : $4 = 22 gigs ,
  22 gigs x 3.92( we get 3.92 /gig) = $86.24
  
  I hope to be correctly
  
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Charlotte Jay 13 years ago

I'm getting more and more annoyed with Fiverr. The net profit from it is pitiful, plus you have to wait 2 weeks to even get to your money. Screw that! I don't withdraw it anymore, just use it to get other services I need done on there.
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ahlexis 13 years ago

I see people in the UK saying they don't make much on Fiverr due to exchange rates, but here's a question. Has anyone had success on any of the pound sterling or euro sites? MakeAFiver.co.uk looked interesting. And there's Fivesquids.co.uk as well . . .
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celente

13 years ago

Originally Posted by Danielle Clarke

I just withdrew $100 from Fiverr. It showed up in my PayPal account as $86.08.

I'm in the UK too and so that converts to about £52.

The moral of this story is: Fiverr works well if the gigs are push-button types, take under 10-15 minutes, or you're using it primarily as a means to market yourself!

yes remember even if you get featured you are not really creating a real business.

I do see people on there that use fiverr as a lead funnel into their business and that is smart.

But fiverr is nothing more than a money spinner. You will make more by creating a real business, and creating a big list of customers.

Its a trap many newbies fall into while trying to pay their bills and become an online earner. Then they wonder why they still have no money at the end of the week. Silly really.

Thanks

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Paypal - Fiverr question

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