SWIFT Transfer fee?

I just withdrew using a SWIFT transfer for the first time. On the statement page it says that the SWIFT withdrawal fee is $25 but I received the amount -$50. Why is that? It might be my bank? But it doesn’t show on my bank statement.

There’s a statement that your bank may charge additionally, as I remember on the details page. Envato charge 25$ for the transfer but your bank may charge as well

1 Like

Ok, thanks, I will ask my bank about it as the extra $25 is not showing anywhere.

1 Like

Before using swift I did read carefully about fees on both, the sending and the receiving bank.

For my surprise, there was a mysterious loss of USD 40.00 in addition to the SWIFT fees of Envato and my bank.

Envato charges 25$ but also your bank do charges as well. This is the reason why you have “lost” 40$ but comparing to PayPal and other platforms exchange rate, I don’t think it’s an issue

Thanks @ki-themes … but I had a loss of Envato fee + my banks fee + 40.00.

after using swift for 3months, i am also thinking of going back to paypal.

swift(my bank) rate is also not much high compared to paypal
and we are losing money to swift payment and intermediate bank

so overall…i am not getting any extra money and now a days…i am getting money quickly through paypal compared to swift.

Today my bank has sent me an email, that the USD 40.00 extra fee has been taken by the sending bank (in addition to the USD 25.00 Envato fee). Now contacting Envato support again … :sweat: Tiring!

While converting USD to EUR, PayPal charges around 2.5%. E.g. if an author receives USD 10k per year, PayPal will make USD 250. So from a certain point, it’s definitely worth to look out for an alternative :slight_smile:

In that case, only the US based authors are lucky because of there’s no exchange rate.
If you’d be receiving 10k per year, use SWIFT but only one or twice in a year. You could save around 125$ more