Author Topic: Skrill/Moneybookers huge bank commissions (Read 9639 times)

adrian825 · « **on:** June 18, 2014, 05:37 »

Hi everybody!

Please I need to know what service you are using to withdraw money!

I'm from Europe and using Skrill is a nightmare in terms of commissions, at every transaction a lose 4%+4Eur+other commission....it is not right.

So, for those who are in the same position as me(I believe location matters) please let me know what you are using and how to have decent commission fees.

I even opened a different account (USD) different than my national currency , but for nothing.

Thank you,
Adrian

Nikovsk · « **Reply #1 on:** June 18, 2014, 05:59 »

Apparently with Paypal you pay 3,5% when you change to your currency.

I'm not sure if there are any other fees though.

adrian825 · « **Reply #2 on:** June 18, 2014, 06:15 »

Thank you for your fast reply!

Seems to be the same deal with Paypal too... They have 3.9% +0.5+Fixed fee

I took the commissions from this list https://www.paypal.com/ro/webapps/mpp/ua/useragreement-full?locale.x=en_RO#8

My residence country is Romania.

photostockad · « **Reply #3 on:** June 18, 2014, 06:28 »

This is it. It is an advantage when you living in Euros countries or in USA, Canada, Australia ...

adrian825 · « **Reply #4 on:** June 18, 2014, 06:30 »

Very nice, what can I say!

Tror · « **Reply #5 on:** June 18, 2014, 06:44 »

Paypal is the same + you have the nightmare of funds being hold back for "security" reasons. Thats how they make money.

Last transaction with paypal to my bank account cost me 30$ for getting 900 converted and to my bank account (not the fee! Just the loss due to their very special currency conversion rate). MB is less painful but overall the same b**ls**t.

SS, Fotolia...please end this nightmare and bring Payoneer or SWIFT transfers!

Nikovsk · « **Reply #6 on:** June 18, 2014, 06:51 »

Now I actually looked into it, for my country it's 7,4% to receive + 3,5% conversion.
So they are stealing more than 10% of my revenue just like that? There has to be a better way.

Somebody with more experience could give please give some advice?
I'll get my first SS payout next month.

adrian825 · « **Reply #7 on:** June 18, 2014, 06:59 »

Nikovsk, welcome to my world!

)

That is why I'm trying to see, if anybody from high commission countries find out a more viable, cheaper solution.

We work very hard for every sale, and when I see that a big percentage of my sales are gone ,just like that, it's not very encouraging. I'm ok with commission, but they have to be reasonable. Not 5-10% from the business...

Tror · « **Reply #8 on:** June 18, 2014, 07:06 »

Maybe someone from Shutterstock can comment on why it is so difficult to offer an reliable payout option?

Payoneer is reliable and friendly. Conversion rates are not always the best but better than MB / PP and they are trustworthy and do not hold back your funds to be able to earn interests with your money.

With the SWIFT wire transfer any transaction directly to the bank account costs maybe 2-6 € between different countries in Europe and you get the official currency exchange rate or simply open a account in the desired currency. It is 100% international but I do not know the fees on transfers between continents.

We do not need anymore any shady middleman who try to rip us off.

Nikovsk · « **Reply #9 on:** June 18, 2014, 07:11 »

What about Skrill saying in their website that receiving money is always free of charge?

adrian825 · « **Reply #10 on:** June 18, 2014, 07:46 »

I will write a small letter to Shutterstock, Fotolia, Istock asking why they cannot find a reliable and decent commission agency for those who have such costs like me. It's a total rip off!

Probably they will do something about it, if many complains like mine, reach them. So, let's start

I fully agree with Tror, that other commission methods should be added and let us choose which is more convenient for us, depending on location.

Good luck guys!

Valo · « **Reply #11 on:** June 18, 2014, 08:24 »

Regarding PayPal, it is free to withdraw money in Brazil, and conversion is 3.5% added to the exchange rate.

https://www.paypal.com/cgi-bin/webscr?cmd=_display-withdrawal-fees-outside
https://www.paypal.com/br/webapps/mpp/ua/useragreement-full?locale.x=en_IE#exhibit_A

And since most agencies use mass payments, receiving your earnings is free of fees as well.

Nikovsk · « **Reply #12 on:** June 18, 2014, 09:44 »

But they say to receive international transactions is 7,4% + 0.30 USD.
Unless the agencies have a special agreement.

Valo · « **Reply #13 on:** June 18, 2014, 09:49 »

When an agency uses mass payments for pay outs, the burden of the fee lies with the agency.

Nikovsk · « **Reply #14 on:** June 18, 2014, 09:56 »

Wow finally some good news, thanks Valo!

adrian825 · « **Reply #15 on:** June 18, 2014, 11:27 »

And a very general answer from Fotolia, telling that is not their fault...

"Hi Adrian,

We understand your concern and we are really sorry about that but please note that this commission is charged by Paypal/Skrill, not by us. Unfortunately there is nothing we can do from here. Our advice would be to contact them.

Sincerely,CS"

Maximilian · « **Reply #16 on:** June 18, 2014, 11:47 »

why the agencys dont use the SEPA payments (bank account)?
Dont understand..

Tror · « **Reply #17 on:** June 18, 2014, 12:24 »

Quote from: Maximilian on June 18, 2014, 11:47

why the agencys dont use the SEPA payments (bank account)?
Dont understand..

+1

Easy. Secure. Cheap.

Maximilian · « **Reply #18 on:** June 18, 2014, 13:03 »

Quote from: Tror on June 18, 2014, 12:24

Quote from: Maximilian on June 18, 2014, 11:47
why the agencys dont use the SEPA payments (bank account)?
Dont understand..

+1

Easy. Secure. Cheap.

Did i missed something? Its world wide possible or not?

disorderly · « **Reply #19 on:** June 18, 2014, 13:22 »

Quote from: Maximilian on June 18, 2014, 13:03

Quote from: Tror on June 18, 2014, 12:24
Quote from: Maximilian on June 18, 2014, 11:47
why the agencys dont use the SEPA payments (bank account)?
Dont understand..

+1

Easy. Secure. Cheap.
Did i missed something? Its world wide possible or not?

It's not. SEPA is a European initiative that only applies to euro-based transfers. For those agencies that don't use the Euro (i.e. those that pay in dollars or pounds), there would still be a currency exchange and the associated fees and variations on the exchange rate.

Today most of the agencies I supply pay me in dollars via PayPal. I pay no fees to receive the money, to spend it or to transfer it to my bank. I get hit with a fee from those few that pay in euros (Zoonar, Yay, ScanStock) or pounds (SignElements) when I convert the money to dollar, but none of them pay out very often so I don't let it get to me. PayPal wwill let me maintain a balance in those currencies, something I might consider if I bought regularly from European ecommerce sites.

Tror · « **Reply #20 on:** June 18, 2014, 13:25 »

Quote from: Maximilian on June 18, 2014, 13:03

Quote from: Tror on June 18, 2014, 12:24
Quote from: Maximilian on June 18, 2014, 11:47
why the agencys dont use the SEPA payments (bank account)?
Dont understand..

+1

Easy. Secure. Cheap.

Did i missed something? Its world wide possible or not?

I do not know about SEPA exactly, but SWIFT and IBAN is globally available. It comes almost worldwide by default with any banking account and you just wire from one to another. Within Europe it costs almost nothing and the transaction is proceeded sometimes within hours. For large companies like SS it would simply minimize costs for payouts (since they pay the paypal fee through mass payments) and for us it would mean our money goes directly into our accounts for the official exchange rate and low fees. No intermediate needed.

Not sure about the US of A though, I just heard that they still have no banking system comptaible to global standards.

http://en.wikipedia.org/wiki/International_Bank_Account_Number
http://en.wikipedia.org/wiki/Society_for_Worldwide_Interbank_Financial_Telecommunication

spike · « **Reply #21 on:** June 18, 2014, 14:04 »

What is the best way to set up payments if your bank account is in euro?

All of the agencies pay us in USD (except ft to some lucky one who registered in the correct zone -_-) so how do you handle your banking to minimize costs?

Tror · « **Reply #22 on:** June 18, 2014, 14:07 »

Quote from: spike on June 18, 2014, 14:04

What is the best way to set up payments if your bank account is in euro?

All of the agencies pay us in USD (except ft to some lucky one who registered in the correct zone -_-) so how do you handle your banking to minimize costs?

Payoneer, to make it short.

I have a $, a € account and a account in my local currency. The local currency account costs me a fee of about 3 $ a month. The foreign currency accounts are free if you have more than 50$ in them. Beyond that, I use Payoneer as much as possible and therefore keep the money in the original $ currency. Mostly because I spend US$ a lot with these cards (traveling, software, hosting, etc.). If needed, I transfer money to a account....for saving mostly the € one.

spike · « **Reply #23 on:** June 18, 2014, 16:00 »

Quote from: Tror on June 18, 2014, 14:07

Quote from: spike on June 18, 2014, 14:04
What is the best way to set up payments if your bank account is in euro?

All of the agencies pay us in USD (except ft to some lucky one who registered in the correct zone -_-) so how do you handle your banking to minimize costs?

Payoneer, to make it short.

I have a $, a € account and a account in my local currency. The local currency account costs me a fee of about 3 $ a month. The foreign currency accounts are free if you have more than 50$ in them. Beyond that, I use Payoneer as much as possible and therefore keep the money in the original $ currency. Mostly because I spend US$ a lot with these cards (traveling, software, hosting, etc.). If needed, I transfer money to a account....for saving mostly the € one.

Thanks.

The majority of my income is from SS, who don't support payoneer, are there alternative options?

Tror · « **Reply #24 on:** June 18, 2014, 17:12 »

Quote from: spike on June 18, 2014, 16:00

Quote from: Tror on June 18, 2014, 14:07
Quote from: spike on June 18, 2014, 14:04
What is the best way to set up payments if your bank account is in euro?

All of the agencies pay us in USD (except ft to some lucky one who registered in the correct zone -_-) so how do you handle your banking to minimize costs?

Payoneer, to make it short.

I have a $, a € account and a account in my local currency. The local currency account costs me a fee of about 3 $ a month. The foreign currency accounts are free if you have more than 50$ in them. Beyond that, I use Payoneer as much as possible and therefore keep the money in the original $ currency. Mostly because I spend US$ a lot with these cards (traveling, software, hosting, etc.). If needed, I transfer money to a account....for saving mostly the € one.
Thanks.

The majority of my income is from SS, who don't support payoneer, are there alternative options?

Well, only cheque I guess. I did that too for some time. Skrill was not available in my country and PP was "limiting" my account after _every_single_payment and asked for ridiculous papers (which I resubmitted after _every_single_payment again lol), so I switched to Check. Problem: expensive too. Takes about 6 weeks until arrives in my postbox. Then 2 weeks to get cleared from an overseas bank. Every third or forth disappeared on the way which meant I had gaps of three month without seeing money. Now I am with skrill and I lose always between 5 - 10 % of my royalties on the way....

SS does not seem to care about all that. Images are coming in anyway, right? So why care about the people behind?

MicrostockGroup Sponsors

Author Topic: Skrill/Moneybookers huge bank commissions (Read 9639 times)

adrian825

Nikovsk

adrian825

photostockad

adrian825

Tror

Nikovsk

adrian825

Tror

Nikovsk

adrian825

Valo

Nikovsk

Valo

Nikovsk

adrian825

Maximilian

Tror

Maximilian

disorderly

Tror

spike

Tror

spike

Tror

Related Topics

Sponsors

Microstock Poll Results

Sponsors