Which payment option should I choose?

I am a new seller and I would like to know which payment option is the best one Paypal, Skrill, bank transfer or Payoneer? I’ve read on the forums that using Skrill is taking a large fee. I’d like a direct deposit in my bank and I see you can do that but I don’t like that I can’t access it until I make $500, by the way does that have a fee? And could you use it on Envato for purchases in the mean time?

Does Pay pal charge a fee? Can I easily move money from Pay pal to my bank? Do I have to do that thing where I have to deposit a dollar before I can get anything out?

I don’t know anything at all about Payoneer is that like Pay Pal and is there a fee? Does Payoneer make direct deposits?

What are your experiences and what do you suggest to me?

Thanks!

Hey @nanogirl! :slight_smile:

it depends where you live (location), cause some countries have restrictions or some payment options just not represented in some countries.

yep, envato taking their cut - ‘administrative fee’ - 10 $

minimum of $500 USD is required. No exceptions. Envato charges additional fee - 25 $ and sometimes banks will charge an extra transaction fee on incoming international funds.

Yep

No fees, you receive the exact amount in your pp

Depends on your location and citizenship, but i don’t think that US citizens have this restrictions.

Yes and no, when you register account on PP or Skrill, Payonner… you need to provide your card number, exp.date and cvc code and they will charge you with a payment between 0.01-1 $ and then you need to enter debited ammount and your money will back again on your card, this is because payment systems need to verify your identity.

Check this article: https://help.market.envato.com/hc/en-us/articles/202822140-Payoneer-FAQs

Depends on every situation individually.

P.S. And you can change withdrawal option at any time you want.

1 Like

Thank you so much for answering so thoroughly I really appreciate it! I am in the US.

Do I have to do the verification every time or just the first time?

It sounds like Paypal is really the only one that doesn’t charge, is that correct?

You’re welcome! :slight_smile:

No, verification goes only once to prove your identity.

Yep, right now it’s the best option.

Hey. I am a US author, too. :slight_smile:

Envato will pay your PayPal fees for you, so you receive the full balance on your account. PayPal only requires you to verify your bank account to withdraw to a US bank, there’s no other verification unless there’s special circumstances (like opening a PayPal Debit card or business account). They also don’t take any fees for a bank transfer to the US.

As for special requirements, your PayPal account works as soon as you verify a debit/credit card or bank account. For some banks, they can verify your bank account instantly by having you log into your bank’s site.

It takes 2 business days for funds to appear in my BofA account, from PayPal. I am sure it varies based on your bank.

Make sure you’ve provided Envato your tax ID.

Best of luck. :smiley:

Terrific information, thank you both so much!