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Using Payoneer payouts vs Paypal to earn more

A topic by Auburn Sounds created Feb 05, 2021 Views: 2,850 Replies: 4

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tl;dr You can earn about 1.1% more with Payoneer instead of Paypal payouts, and it's quite easy to setup.

Here is a tip for sellers still using Paypal payouts (it will only works with the "Collected by itch.io" option, that I also recommend).

In my case Payoneer charges:

$3 per transaction from itch.io to Payoneer
2.0% of the volume when converting from $ to €
$0 when transferring on a local bank account

whereas Paypal would charge:

$0 per transaction from itch.io to Paypal
3.1% of the volume when converting from $ to €
$0 when transferring on a local bank account

Pro-tip: use Payoneer payouts to earn 1.1% more. The overall experience is very similar.

You can then use the surplus of money to give it to itch.io!

THANKS itch.io for a once again fantastic feature.

More info: https://itch.io/t/654159/payoneer-now-available-for-all-accounts

leafoAdmin3 years ago (1 edit)

Great tip, thanks for sharing.

$0 per transaction from itch.io to Paypal

I just want to note that PayPal does charge a fee per transaction, but it’s applied to your itch.io account balance when you next request a payout. So given that, Payoneer could save you even more.

leafoAdmin3 years ago

I recently learned that PayPal is increasing their exchange fee to 4%, but I’ve heard that TransferWise could be a good option for converting itch.io’s USD payouts to another currency at a lower rate: https://wise.com/

Hope that helps

Wenrexa3 years ago

That's a lot... 4 % :(

Aruma Studios1 year ago

When using a third-party to convert currency, I'm not so sure Payoneer is the best choice anymore. It's very opaque about the fees it collects when withdrawing money, other than saying "can be as much as 2%".