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Found a way to avoid PayPal's microtransaction fee
I was reading a thread on r/freelance last week about a guy who uses Payoneer for anything under $50. He said PayPal eats like $0.49 plus 2.9% on tiny payments, which really adds up when you're doing $10 Fiverr gigs. I tried it out on a $30 logo job and kept an extra $1.80 compared to what PayPal would have taken. Anyone else use a different platform for small payments?
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wade_anderson11d ago
Yo, did your friend check if Payoneer has a minimum withdrawal fee too? My buddy tried it for a $25 transcription job and got hit with a $3.50 fee when he moved the money to his bank account, which basically killed any savings. He ended up just sticking with PayPal and bundling small jobs together before invoicing.
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Yeah that minimum withdrawal fee is definitely something to watch for. I used to think Payoneer was the magic bullet for small payments but @emma_lee22's correction on the PayPal percentage actually got me looking closer at the numbers. A buddy of mine lost like $4 on a $15 job because he didn't check the withdrawal fees first. Ended up being worse than PayPal which I never would have guessed. Now I just let small payments sit in PayPal until I hit $100 before moving anything.
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