Fiverr which was started as get things done in $5 has become an internet revolution now. It’s empowering many users around the globe to make a living by selling gigs online.
Many of who started using Fiverr as a hobby have now turned into a dependent revenue source. When Shai Wininger and Micha Kaufman started working on Fiverr their goal to was to not be dependent on a 9-5 Office Job. Instead, make people work at their will, at anytime anywhere. And they have been successful in it.
During the initial stages, Fiverr had tied up with Paypal for providing the Payout services. And during those days, Paypal used to charge on the basis of percentage on the whole amount being transferred.
The introduction of Mass payment through PayPal.
Earlier, the only way to withdraw funds from Fiverr was via Paypal, though the transaction fee and commission was a bit high. Later when the Mass Payment system was introduced, the Paypal commission was reduced to $1 per transaction. Which helped Fiverr sellers save some money.
Earlier, sellers at Fiverr were charged a bit of Paypal transaction fee and commission when they withdrew the amount to their PayPal account. Though the Paypal commission was high.
Then came the Mass Payment system in Paypal through which one could pay simultaneously to many people, and PayPal would charge a maximum of $1 irrespective of the withdrawal amount. This was a great relief to all the users
What’s so exciting with the new withdrawal method?
Fiverr introduced the Payoneer payment system quite a while back, but that was only for Top-rated sellers. However now, they have introduced the Bank Transfer Withdrawal Method. We came to know that it will take some time to be available for all the Fiverr sellers, and they might also add some more features to it before it is finally rolled out for all.
The introduction of Payoneer Payment system will save time than it takes to transfer the amount to your Paypal account and then to get it transferred to your local bank account.
Through this system, you would be able to send the funds to either your name or your company’s name as you prefer. But once you sign up you would be able to switch to the payment details only through your Payoneer account control panel.
We have been confirmed that for Indian Fiverr users, The Local Bank Transfer withdrawal charges would be as following:
- Account set up is free.
- Transfer to your bank account is $5.95 per transfer each time a bank transfer is made.
- USD to INR conversions are up to 3% of transaction amount per transfer Each time a bank transfer is made.
Hopefully, Fiverr will introduce many more features and options that users would love, subscribe to our blog to keep updated about the future updates on Fiverr and their more tech news. We’d love know your opinion about this new withdrawal method.