| Pages in topic: < [1 2 3 4] | Seeking a good, viable alternative to Wise Thread poster: Baran Keki
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Lingua 5B 
Bosnia and Herzegovina
Local time: 08:54
Member (2009)
English to Croatian
+ ...
Yasutomo Kanazawa wrote:
if you transfer the funds of over 50,000 JPY in your Paypal account to your bank account, the transfer fee is free.
Interesting how PP is different in every country. Never mind the amount, in my country PP will always charge a fixed withdrawal fee. The only option I have is to schedule an automatic transfer on the 1st of each month, then it’s free. This option was halted a while ago, then I emailed PayPal and they reverted it. I think for Americans (US bank account) the withdrawal is always free. In any case, it varies a lot across countries, probably depending on their arrangements with local banks.
| | | | | Wouldn't a simple bank transfer do? | Jul 1, 2023 |
Baran Keki wrote:
Thanks for sharing your experience with Payoneer. I can't comprehend why you would be okay with an international bank transfer for the sum of 120 EUR. If you're doing this with your clients on a regular basis, then you must be losing, at least, a couple of thousand EUR every year.
I can't think of a better system than Wise. It gives you the opportunity to have multiple currency accounts, and lets you receive money as if you were a resident of that country (EU, USA, Australia etc.), no banking fees whatsoever...
I've been looking for a similar system, but unfortunately I haven't found one so far...
I really don't want to use Payooner, they take a cut from every single transaction, won't let you withdraw money under a certain limit, are picky about who can and can't make a transfer, they're slow and have a terrible customer service... but it looks like that's about the only alternative I'm left with.
If only the bastards here hadn't abused Wise's favorable FX rates for currency exchanges, and used it as it was intended (i.e. receiving and sending money). But no, they had to take advantage...
Don't worry, it was a paid test translation, and my first and last time working with this agency after what happened with payment via Payoneer. Of course, if this particular agency is going to offer other payment options in the future, I might reconsider working with them if there is an inquiry.
Sorry to hear that your only option in your country is Payoneer. I don't know the situation in Turkey, but wouldn't a simple bank transfer do, especially in cases where the amount is small? Have you thoroughly checked Currencyfair, Revolut, and Transfergo which you mentioned in your first post?
| | | | | The only reason I use Paypal | Jul 1, 2023 |
Lingua 5B wrote: Yasutomo Kanazawa wrote:
if you transfer the funds of over 50,000 JPY in your Paypal account to your bank account, the transfer fee is free. Interesting how PP is different in every country. Never mind the amount, in my country PP will always charge a fixed withdrawal fee. The only option I have is to schedule an automatic transfer on the 1st of each month, then it’s free. This option was halted a while ago, then I emailed PayPal and they reverted it. I think for Americans (US bank account) the withdrawal is always free. In any case, it varies a lot across countries, probably depending on their arrangements with local banks.
The only reason I use Paypal as an option to bank transfer is the same reason you stated earlier in your post "it's long tradition and history". Nothing more.
FYI, in Japan, if I withdraw an amount below 49,999 JPY, Paypal deducts a fixed rate of 250 JPY per transaction. Overall, they don't apply which date of the month (like you wrote above), so I can withdraw my money anytime I want. The only rule is free above 50,000 JPY or 250 JPY per transaction for less than 49,999 JPY. Simple and clear.
| | | | Lingua 5B
Bosnia and Herzegovina
Local time: 08:54
Member (2009)
English to Croatian
+ ...
Yasutomo Kanazawa wrote: Lingua 5B wrote: Yasutomo Kanazawa wrote:
if you transfer the funds of over 50,000 JPY in your Paypal account to your bank account, the transfer fee is free. Interesting how PP is different in every country. Never mind the amount, in my country PP will always charge a fixed withdrawal fee. The only option I have is to schedule an automatic transfer on the 1st of each month, then it’s free. This option was halted a while ago, then I emailed PayPal and they reverted it. I think for Americans (US bank account) the withdrawal is always free. In any case, it varies a lot across countries, probably depending on their arrangements with local banks. The only reason I use Paypal as an option to bank transfer is the same reason you stated earlier in your post "it's long tradition and history". Nothing more. FYI, in Japan, if I withdraw an amount below 49,999 JPY, Paypal deducts a fixed rate of 250 JPY per transaction. Overall, they don't apply which date of the month (like you wrote above), so I can withdraw my money anytime I want. The only rule is free above 50,000 JPY or 250 JPY per transaction for less than 49,999 JPY. Simple and clear.
Currently, a fixed PP withdrawal fee on my end is €4, never mind the amount. I can avoid this with an automatic withdrawal option on the 1st, although they were kind of playing with this option too, but now it’s back. On top of this, there are processing and transfer fees, conversion fees, etc.
Have you not tried automatic withdrawal in the PP settings? You can set it for some dates, but only on the 1st is free (in my case). But perhaps this doesn’t apply to you/your bank.
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| Automatic Withdrawal | Jul 2, 2023 |
Lingua 5B wrote: Yasutomo Kanazawa wrote: Lingua 5B wrote: Yasutomo Kanazawa wrote:
if you transfer the funds of over 50,000 JPY in your Paypal account to your bank account, the transfer fee is free. Interesting how PP is different in every country. Never mind the amount, in my country PP will always charge a fixed withdrawal fee. The only option I have is to schedule an automatic transfer on the 1st of each month, then it’s free. This option was halted a while ago, then I emailed PayPal and they reverted it. I think for Americans (US bank account) the withdrawal is always free. In any case, it varies a lot across countries, probably depending on their arrangements with local banks. The only reason I use Paypal as an option to bank transfer is the same reason you stated earlier in your post "it's long tradition and history". Nothing more. FYI, in Japan, if I withdraw an amount below 49,999 JPY, Paypal deducts a fixed rate of 250 JPY per transaction. Overall, they don't apply which date of the month (like you wrote above), so I can withdraw my money anytime I want. The only rule is free above 50,000 JPY or 250 JPY per transaction for less than 49,999 JPY. Simple and clear. Currently, a fixed PP withdrawal fee on my end is €4, never mind the amount. I can avoid this with an automatic withdrawal option on the 1st, although they were kind of playing with this option too, but now it’s back. On top of this, there are processing and transfer fees, conversion fees, etc. Have you not tried automatic withdrawal in the PP settings? You can set it for some dates, but only on the 1st is free (in my case). But perhaps this doesn’t apply to you/your bank.
I've never heard of automatic withdrawal until you brought up the topic, so I did some research on my Paypal account, but it seems that this option is not available (I simply couldn't find any buttons or links).
Even if this automatic withdrawal option was possible, I wouldn't set a certain date for withdrawal, since I don't use Paypal that often and there is no guarantee that I would have over 50,000 JPY in my account everytime when the withdrawal is conducted automatically every month.
| | | | Lingua 5B
Bosnia and Herzegovina
Local time: 08:54
Member (2009)
English to Croatian
+ ...
| Just yesterday | Jul 2, 2023 |
Yesterday was the 1st of July, and PP sent me the funds I had in my account, free of charge. Otherwise, I would have paid €4.
| | | | Samuel Murray
Netherlands
Local time: 08:54
Member (2006)
English to Afrikaans
+ ...
| Anna A. K.
Germany
Local time: 08:54
Member (2020)
English to German
Paysera is an online payment platform that offers multi-currency accounts and international money transfers. They provide virtual bank accounts in various currencies, including EUR and USD.
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ATIL KAYHAN
Türkiye
Local time: 09:54
Member (2007)
Turkish to English
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| Tom in London
United Kingdom
Local time: 07:54
Member (2008)
Italian to English
| Wise botheration | Jul 14, 2023 |
4 days ago I received notification from Wise (by email) that a payment had arrived.
I had been expecting it. It was from an agency in Milan.
But when I logged on my Wise account and went through the process of transferring that amount into my current account, they first of all asked me to give the full details of who the payment was from (name, address, type of business).
Then they said they were carrying out "checks" and that I would be paid tomorrow (Satu... See more 4 days ago I received notification from Wise (by email) that a payment had arrived.
I had been expecting it. It was from an agency in Milan.
But when I logged on my Wise account and went through the process of transferring that amount into my current account, they first of all asked me to give the full details of who the payment was from (name, address, type of business).
Then they said they were carrying out "checks" and that I would be paid tomorrow (Saturday).
They do this ALL THE TIME. It's extremely irritating.
I only use Wise because since Brexit, bank transfers from the EU to the UK have become ridiculously expensive for the sender. This is because the banks are very greedy and are using Brexit as a reason to increase their charges, presumably because transfers are now more complex because UK banks are no longer in the EU payments system (though I'm just guessing).
[Edited at 2023-07-14 08:37 GMT] ▲ Collapse
| | | | | Payoneer is fine to me | Aug 14, 2023 |
Kuochoe Nikoi-Kotei wrote:
Haven't had a good experience with Payoneer. I set up an account and had some questions but their customer service is non-existent. Entrusting a company like that with my money would be just too scary.
I'm not sure I understand this; Paypal's customer service is much worse (IF you can even find a way to contact them; email seems out of the question), and they charge bigger fees than Payoneer! So, having used both, I do prefer Payoneer, have had no issues with them (except their poor exchange rates, but Paypal's are no better).
(Of course, can't say how I would prefer to receive the payments into my bank account directly, ie. bank transfer, but as my main client pays only in USD & from outside EU, they don't offer that choice.)
| | | | | Seeking Insight on WISE Closure in Turkey: A Shared Challenge | Jan 25 |
Hi @Baran Keki,
I've encountered a similar issue due to WISE closing in Turkey and would greatly appreciate it if you could share any insights or solutions you may have discovered.
Looking forward to your response.
Best regards,
Emir
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