How do I withdraw USD from Fiverr from outside the US?

Fiverr is a big deal. If you’re a freelancer, and use online platforms to connect with clients, chances are you’ve heard of it. Since launch in 2010, over 30 million projects have been offered through Fiverr, with freelancers all over the world selling over 950 services every hour of every day on the platform.¹ Fiverr has played a big part in making the gig economy what it is today, allowing professionals in all fields to turn a side line into a money spinner, by giving them a global customer base.

If you’re thinking about joining the huge numbers of people finding work through Fiverr, you need to know how to get your hands on your hard earned cash. Here’s the lowdown.

How do I withdraw money from Fiverr internationally?

Working with a new platform for the first time can be daunting. If you're just finding your way around, Fiverr offers a FAQ section which has lots of helpful information for newbies.

Fiverr works by having freelancers create profile pages and offer gigs, or gig packages. A gig is the general name for any work you undertake within Fiverr, and could be services like writing, logo design or web development for example.² Buyers can then browse categories which are relevant to them and pick out the freelancer they want to work with.³ They view the gig you’ve created and if they’re interested then you can start a dialogue within the system about the particular job they need doing.

Creating a gig

Once you’ve registered with Fiverr, you first have to create a seller profile page and then move on to create a gig. Using drop-down menus, you can categorise your gig, so that it sits in a place where buyers will find it. You can also tag it, so that it appears in searches that buyers might run on the platform. You have a fair amount of freedom to create your gig, including as much detail as you can and with a price tag of anywhere between $5 and $995. You’ll also have to give some set details, like how many revisions you’re willing to do for the price and so on.² To get familiar with the format, it’s worth browsing the gigs already on offer in your field.

Once you’ve got the hang of it, you can also add gig packages, in which you’re selling upgrades to your basic product. Or, you can give an option to have the gig done faster than usual, for an extra fee.

How to upload and check your bank account details on Fiverr

All payments for any type of job you take on will pass through Fiverr. Fiverr takes a fee of $2 on purchases up to $40 and 5% on purchases above $40 for all jobs, as well as any extra fees levied for withdrawing your funds — these are discussed later.⁴ You don’t have the option of invoicing outside of the system, and all payments are made electronically.

The buyer pays Fiverr for any work they commission, upfront. Fiverr then holds this money for safekeeping while you do the job. Once both you and the buyer agree it’s finished, it’s marked as such in the platform, and the money is paid out. However, there’s a 14 day wait which Fiverr describe as a security period. That means there are a couple of weeks for any issues or disagreements to be ironed out before payment is handed over. Only after that time will the money be released, and you can choose to take your money as a direct payment to your bank, or through another method like PayPal.

When you set up your profile on Fiverr, you’ll also upload all of your payment details. You'll have to add details for whichever payment method you might choose — so that could be bank details, including BIC/SWIFT if relevant, and your bank account number, or your PayPal email address for example.⁴

The fees charged by Fiverr for withdrawing funds vary across different methods. You could end up with less money than you think, especially if currency conversion is involved. We’ll talk a bit more about fees later.

The amount of time it’ll take to receive your cash can also depend on how it’s being transferred. International bank transfers tend to take a few days to reach their destination.

Bank transfer? PayPal? Fiverr Revenue Card? Which one is best?

Once you have input your bank account details, you’ll have to select a payment method. Your options are:⁴

• Bank transfer, available worldwide
• Wire transfer PayPal
• Fiverr Revenue Card

Whichever method you use, it’s important to remember the 14-day security period, which means that after you’ve been paid for a gig, you have to wait 2 whole weeks before you can withdraw your funds. If you’re a top seller this is reduced to 7 days. You can also only withdraw once every 24 hours.

The Fiverr local bank transfer method

You can get your earnings paid to your bank account by bank transfer once the security period of 14 days has passed. Be warned that as well as this 14 day wait, once the money leaves Fiverr, it can take a few business days to actually arrive to your bank.

Bank transfers can be used to move your money to a bank account held in a currency other than USD. However in this case, as well as the $3 charge applied by Fiverr, you’ll have to consider the exchange rate that’s used and any additional fees that could be added along the way.

Because exchange rates and fees used in international bank transfers, in many cases, might be set by partner banks, Fiverr can only say that additional fees may apply based on your location and currency.⁴ That means the exchange rate used isn’t transparent — and could well be pretty poor, so you end up losing out.

If your money is moving across borders, through an international bank transfer, the fees added can be painful, as usually your money will be transferred via the SWIFT network. While SWIFT transfers are safe, and commonly used, they often mean extra flat fees are charged, by anywhere from 1 to 3 intermediary banks. Before you see your cash, your own bank could also charge you to receive the international transfer. That means you end up with far less in your pocket than you should.

The Fiverr PayPal method

If you have an existing PayPal account, you can ask for your earnings to be sent there. You can then use your cash to buy things directly using your PayPal balance or move it to your linked bank account. There are fees payable for the withdrawal, and may be additional fees for moving your money if it’s going across borders, or if there’s a currency conversion involved.⁴

The Fiverr Revenue Card method

An alternative is to have your earnings paid to a Fiverr Revenue Card, which you can then use to make payments or withdraw funds at an ATM.⁵ The card is supported by Payoneer and uses the MasterCard system.⁶ However, there are charges involved with all of these transactions, and to activate the card in the first place. Read the small print if you’re considering this option, to make sure that it works for you.

How do I withdraw my earnings in US dollars from Fiverr to my bank account? What if I live overseas — aka, not in America?

1. Fiverr-supported transfer methods

The fees Fiverr will charge to let you withdraw your payments depend on both the method you want to use to withdraw funds, and the currency you want to take them in.

You can get your money either by PayPal, a Fiverr Revenue Card or a bank transfer. Make sure you check out all the fees, to understand which method is the best for you.

2. Fees for withdrawing from Fiverr

Fiverr charges $2 on purchases up to $40 and 5% on purchases above $40 on all jobs offered through the platform.⁴ That means for every $10 you charge on Fiverr, you’ll see $8. Then there are withdrawal fees, which are added once you actually want to move your cash from the platform and use it.

The withdrawal fees you're charged by Fiverr depend on what withdrawal method you choose, the currency and where you’re located. They're all set out online in the terms and conditions, so make sure you read the fine print.

Here’s the charging system:

Withdrawal Method	Fee⁴
PayPal	2% of total amount, up to $1
Fiverr Revenue card	$1 within 2 days, $3 within 2 hours
Local Bank transfer	$3 per transfer

The fees look pretty low, but all come with a small asterisk highlighting that there could be additional charges, depending on your location and the currency you’re withdrawing in. That’s because PayPal, banks, and most money transfer services add high charges to any transfer which crosses international borders.

As a freelancer, you want to minimise the fees and charges that might reduce your ultimate take-home pay. That means finding the lowest fees possible, but also making sure the conversion rate is fair, if your money will be moving into a bank account held in a different currency.

You can check the exchange rates pretty easily online with an online currency converter. However, the bad news is that the rates applied to international transfers are often not transparent. Banks and money transfer services may say that they'll move your money for free, or cheaply, but they’re notorious for taking their own cut, which could cost you an extra 4-5%, simply because they use a poor rate on the conversion.

3. Paid in USD but have a bank account outside the US?

You can still take on USD jobs in Fiverr, even if you don’t have an American bank account. However, the exchange rate used to convert your payment from USD to the currency of your home account isn’t transparent. That leaves you exposed to hidden fees, in the form of flat charges, but also a poor exchange rate.

Curious if the Wise multi-currency borderless account will work for you when freelancing?

As a freelancer, the world is your oyster. However, traditional banking isn’t designed to serve this new model of working. If you do freelance work outside of Fiverr and are not restricted by payout methods, there is a better way to get a hold of your money.

That’s where Wise comes in. The Wise borderless account is built for international people. It’s the new alternative to old-fashioned banking.

Create a multi-currency borderless account, that supports transfers and currency conversion with over 40 currencies at once in a single account. Access local bank details in the US, the UK, the EU and Australia and get your hands on a consumer debit card linked to your account, too. What’s not to love?
You can have the money paid to your own local US bank details, avoiding high currency conversion rates and flat fees, that intermediary banks impose when making an international SWIFT transfer. If you want to get your money at your local currency, just convert it between your balances for a small fee and the mid-market rate.

Check out whether you’re eligible, based on where you live. The service is available across the world, but just in case do check the relevant Wise FAQ page, which lists countries, that are not yet eligible for the Wise Balances.

With Fiverr, you’re not limited by borders. The only downside may be the payout methods and that some of your hard-earned money getting lost on fees along the way. Old-fashioned banking can cost you more than you need to pay. However you make your freelancer career work for you — good luck in finding the best set-up for you!

---

Sources:

1. https://www.fiverr.com/news/dating-advice (October 5, 2018)
2. https://sellers.fiverr.com/en/article/creating-a-gig (October 5, 2018)
3. https://www.fiverr.com/ (October 5, 2018)
4. https://www.fiverr.com/terms_of_service (October 5, 2018)
5. https://sellers.fiverr.com/en/article/withdrawing-funds (October 5, 2018)
6. https://payouts.payoneer.com/partners/Default/fees.aspx?pid=100010650 (October 5, 2018)
7. https://sellers.fiverr.com/en/article/fiverr-revenue-card (October 5, 2018)