Nope, still no USD swift for Italy actually…!
thanks @purethemes, we’ll check it out! Last month we used a transfer to Wise and it even worked. The commissions are lower than on Payoneer.
Good day! I’m wondering why PayPal isn’t available on your site, while PayPal is already registered in Ukraine and working properly from 2022. Could you please find out any possibility to add PayPal method for Ukrainian?
Thank you a lot!
We still don’t have the USD SWIFT option for France either!
No USD for Romania / EU state members here either - let’s hope they’re looking into it and we get an update soon enough.
$25 for Payoneer transfer now? Really? Why?
Hi all.
@Doc_Med PayPal is currently only accepting international transfers in Ukraine via the “Friends and Family” method - we can’t send commercial transactions using that method, so we can’t offer PayPal in your country at the moment.
@Luiza_D That doesn’t sound right for Payoneer - $25 is the fee generally used for SWIFT-based payments (e.g. sending USD payments to a non-US location). If you use Payoneer’s US receiving account details, both the sender and receiver are based in the USA, so I think the transfer fee should only be $1.
There’s more information on finding those details for Payoneer accounts here:
Important note on exchange rates and local transfers: The local currency conversions are made at 1.9% above the wholesale exchange rate. The average margin for banks is typically between 2-4% on top of the wholesale exchange, often with additional transaction fees on top. No bank is likely to give any retail customer their actual wholesale exchange rate.
The availability of local currency transfers in the new system provides a cheaper option for many authors, as these have favourable exchange rates compared to most banks. They also protect you from many unexpected foreign currency bank charges (e.g. landing fees), as the payment is sent in your local currency.
European banks: If your address (listed under General Information) is within the EU, you should be able to set a bank IBAN from any European country as your Payout Method. For example, if you’re in Romania and your bank is in Luxemburg, that’s still a valid method for your location.
If you have compared the options available and you would still like to receive USD, you also have the option of many Money Transfer Providers such as Payoneer, Wise or Revolut. A Money Transfer provider is a way for Authors to receive payouts in the United States dollar (USD) or in euro (EUR). If PayPal operates in your country, we also send all PayPal payments in USD.
@lunatio & @PixFort Could you please open Author Support tickets about USD transfers to your countries? This option is not available by default, but there is a process for looking at additional locations. I’ve already raised your questions with our Author Payments team, but they can better track incoming requests from within our support ticketing system.
Thank you @BenLeong, it’s good to know that we can still set an IBAN that’s within EU space. Can we simply ignore the “Bank Account Country” field then when setting up the IBAN? As it forces us to chose from either the Country set under “General Information” section, or United States, none which would apply, as the Bank would be in a different country (see attachment).
As for “USD”, I’ve opened a ticket, and provided my USD IBAN in that ticket.
Thank you.
@BenLeong How where find SWIFT/BIC code?
when i try setup payoneer account. So, there available option & require SWIFT/BIC code. but, I can not find this details in payoneer account.
You have not mention SWIFT/BIC code related any information here- https://help.author.envato.com/hc/en-us/articles/20535795834393-Getting-started-with-the-new-Market-payout-system?_ga=2.157233787.1314804886.1694580788-663139101.1691126171#h_01GXAGG53WJD57AX1PMDB8906B
So, please, how where find SWIFT/BIC code?
Thanks.
The point is that authors dont neccessarily make conversion of their earnings as soon as they get paid. Instead they just keep earnings in their bank in usd and simply wait for better dolar value.
Is Paypal usd available for Croatia?
Most of the authors are experiencing it differently. The 1.9% is higher than many of the banks have been charging. I mentioned it earlier:
For AED, I am told a currency conversion rate right now is: 3.60216. This is beyond absurd when the worst rate available by any bank for this currency is 3.65 (my bank does 3.67).
If you really believe the 1.9% is better for some, then offering both the options would have been better.
We have shifted to Wise.com but it’s not an ideal solution due to reliance on an intermediary/3rd party that may change their rates at any time.
Got an official answer via Author Support.
No USD support for any Revolut accounts within Europe, nor for any other USD Bank Accounts in Romania / Lithuania.
So we went from a system that allowed us to withdraw USD straight to our bank account, to a system that not only does not allow withdrawing our money in the currency we’ve earned them via a bank account, but as a result of that, forcefully making an FX transaction to a different currency, if we want to continue withdrawing to bank accounts.
There’s nothing that this system brings compared to the old one for European Authors. We had PayPal on the old system as well, and SWIFT/BIC transfer with no limitations and a fixed fee for the transfer and that’s it.
Sorry but how I see it, this is a major downgrade from the old system.
Update
To all Authors outside United States
To make matters worse, if you decide to use Wise, and you don’t live in U.S., all transfer fees to banks outside U.S. will carry additional fees: Sending USD to countries outside the US | Wise Help Centre
(Again, this was NOT the case with Revolut, as all Revolut Transfers have ZERO fees to all European Banks, and most likely to the same to other regions as well).
It begs the question on why was “EUR” chosen over “USD” for countries where “EUR” is not the local currency.
@BenLeong Can you please explain or redirect my question to Author Payments team because my support ticket 3317723 without answer more than 4 days.
When filling out the new form with non US address on second page, I could not enter the details of my US bank account linked to Payoneer. Initially there is only the option of sending to a Local Bank Account with the IBAN number. After choosing to send to a US Bank Account, nothing changes. In the USA, bank accounts do not use an IBAN number!!! It uses the ACH/Direct Deposit ABA Routing Number, which is discussed in the Important footnote.
But there are no fields to fill in about the Routing Number and Account Number of my US Bank Account!!!???
How can i send my earned money to my Payoneer???
What is going on?
How could the transition to a new payment system be allowed if it does not work properly?
And why does support team take so long to respond? (4 days no answer)
Please explain to me what is the positives of this change for authors? Besides the fact that I cannot receive in dollars, I have to pay a commission, who benefits from these changes? I only see it getting worse, why “worse things” are better ones for us?
Also it’s unclear from the help docs which address you need to provide for Wise. I provided the bank address and it was rejected today.
UPDATE!!!
Yesterday I received a letter from the support team.
They fixed all!!!
Now, when you switched to US Bank Account (for non US resident), all the necessary fields for Payoneer (or other US to US payment) became available!
P.S. Thanks to Envato Support Team
They also warned about one bug, which has not yet been fixed.
When we change Bank Account from local to US estimated fees didn’t change from 25$ for Swift to 1$ for US payment.
“There is a known bug where this is not reflecting correctly when you change the bank account country. It should not charge you $25.00. The bank transfer fee (US to US) should be $1”
On first page of Payment Details you need to fill in your individual resident information, your local address, id, etc.
On next page - information about your bank account.
Normally if you fill in correct IBAN (for international payment) or ACH/Direct Deposit ABA Routing Number (for US to US) system will show bank info (name of bank, address of bank etc) on right side.
You don’t need to provide bank address. It’s completed automatically.
Yes, I do confirm Wise works well to get USD even being in the euro zone.
However, having another money flow step is really not a great deal. I’m not saying Wise is unsafe, but requires a further step for us and would require a lot more explainations in case of tax audits (since our incomes are not directly attributable to Envato).
Long story short: I have a multicurrency italian bank account able to receive USD with an international IBAN. I must be able to get dollars, the currency in which I sell my products.
Any other option is a worse service Envato gives us adding more stress to an already exasperated situation.
Exactly this!!! Using a 3rd party processor means we’re not receiving money directly into out business account, it will go through a 3rd party. Super hard to explain on why one would use a 3rd party when it comes to finances, as well as more documents to keep & process.
Still can’t wrap my head around on why USD for Poland is possible, but for Lithuania, where the largest NeoBank in Europe operates is not possible, or even why USD is not an option for Europe at all.
Revolut is an actual bank, that’s certified to operate in Europe as such, has zero transfer fees to all European banks, and also has an insurance on all accounts for up to EUR 100,000.
Wise, PayPal, and Payoneer are NOT banks.
Please, let us use our USD accounts in Europe.
I keep checking it every day just to make sure it’s not some bug I hope the money will be transferred smoothly and I hope they will be able to turn that option for other countries.
Even the fact that we will need to wait additional 5-6 days for the transfer according to what they say is a problem for us because there are certain taxes or payments we always did before 20th, and we had a comfort of having the money usually the same day that Envato did payout on 15th.