Author Topic: PayPal payout - how long does it take? (Read 5588 times)

Ron · « **on:** November 23, 2013, 04:19 »

Never requested a payout before so dont know how long this takes

I requested payout on the 14th of Nov. PayPal cut off was 18 Nov. So when can I expect to be paid?

Thanks

ShadySue · « **Reply #1 on:** November 23, 2013, 04:22 »

You'll get an email on Tuesday saying it's being paid and the money should drop into your PP there or thereabouts. Assuming there isn't a hold-up, which doesn't happen very often.

Can I piggyback on your thread and ask if I should be paying currency conversion fees at PP? I recently noticed that I've been paying cc fees, but thought iS paid all PP fees.

Ron · « **Reply #2 on:** November 23, 2013, 04:25 »

If you get paid in dollars and you transfer to your bank in pounds, you pay. If IS pays you in pounds then the conversion should be for them. But I have no clue about how IS pays out.

Ron · « **Reply #3 on:** November 23, 2013, 04:25 »

Thanks by the way.

bunhill · « **Reply #4 on:** November 23, 2013, 04:34 »

Quote from: ShadySue on November 23, 2013, 04:22

Can I piggyback on your thread and ask if I should be paying currency conversion fees at PP? I recently noticed that I've been paying cc fees, but thought iS paid all PP fees.

If you have a $ balance you will receive your money in $. iStock pays the fee which you would normally be charged for receiving money at Paypal.

To add a currency in Paypal - go to 'currency converter' and click 'add currency'. Then you will receive $ as $.

The fee for converting currency at Paypal is in the rate. I have never heard of anyone being charged a fee for currency conversion - other than the rate.

ShadySue · « **Reply #5 on:** November 23, 2013, 06:58 »

Yes, the fee is in the rate; but it is still an added percentage for conversion (it's stated somewhere on PP).

Ron · « **Reply #6 on:** November 23, 2013, 07:02 »

https://cms.paypal.com/ie/cgi-bin/marketingweb?cmd=_render-content&content_ID=ua/UserAgreement_full&locale.x=en_US#Schedule%201.%20Table%20of%20Fees

Quote

(I) For currency conversions of amounts in your PayPal account that do not form part of a specific transaction into or out of your account (e.g. converting your balance to another currency) and for transactions involving a currency conversion for which the seller has agreed to bear the conversion fee:

2.5% above the wholesale exchange rate

(II) For all other transactions involving a currency conversion:

a. If you are a User registered in a Relevant Country other than the UK and Ireland:

4.0% above the wholesale exchange rate.

b. If you are a User registered in the UK or Ireland:

Between 3.0% and 4.0% above the wholesale exchange rate depending on the currency into which the relevant amount is converted (please refer to the table below):

Quote

Currency and Code   Currency Conversion Fee
Argentine Peso (ARS):   4.0%
Australian Dollar (AUD):   4.0%
Brazilian Real (BRL):   4.0%
Canadian Dollar (CAD):   3.0%
Czech Koruna (CZK):   3.5%
Danish Krone (DKK):   3.5%
Euro (EUR):   3.5%
Hong Kong Dollar (HKD):   4.0%
Hungarian Forint (HUF):     3.5%
Israeli Shekel (ILS):     4.0%
Japanese Yen (JPY):   4.0%
Malaysian Ringgit (MYR):   4.0%
Mexican Peso (MXN):   4.0%
New Zealand Dollar (NZD):   4.0%
Norwegian Krone (NOK):   3.5%
Philippine Peso (PHP):   4.0%
Polish Zlotych (PLN):   3.5%
Russian Ruble (RUB)^:   3.5%^
Singapore Dollar (SGD):   4.0%
Swedish Krona (SEK):   3.5%
Swiss Franc (CHF):   3.5%
Taiwan New Dollar (TWD):   4.0%
Thai Baht (THB):   4.0%
Turkish Lira (TRY):   3.5%
U.K. Pounds Sterling (GBP):   3.5%
U.S. Dollar (USD):   3.0%

ShadySue · « **Reply #7 on:** November 23, 2013, 07:21 »

^^ Thanks, Ron. That's what I saw.

bunhill · « **Reply #8 on:** November 23, 2013, 07:30 »

Quote from: ShadySue on November 23, 2013, 06:58

Yes, the fee is in the rate; but it is still an added percentage for conversion (it's stated somewhere on PP).

We (meaning we contributors) are not charged for receiving our iStock money at Paypal. If we choose to convert it to a different currency then that is nothing to do with iStock or whoever else sends it.

Provided that you set up a $ balance the money should not be automatically converted and nothing will be deducted or lost in the rate.

ShadySue · « **Reply #9 on:** November 23, 2013, 07:34 »

Quote from: bhr on November 23, 2013, 07:30

Quote from: ShadySue on November 23, 2013, 06:58
Yes, the fee is in the rate; but it is still an added percentage for conversion (it's stated somewhere on PP).

We (meaning we contributors) are not charged for receiving our iStock money at Paypal. If we choose to convert it to a different currency then that is nothing to do with iStock or whoever else sends it.

Provided that you set up a $ balance the money should not be automatically converted and nothing will be deducted or lost in the rate.

I knew we don't have to pay for receiving at PP, and don't know why you brought that up.
My question was ONLY about currency conversion. Converting is not an unreasonable choice for those of us furth of the US, but is an extra expense.

bunhill · « **Reply #10 on:** November 23, 2013, 07:39 »

Quote from: ShadySue on November 23, 2013, 07:34

Quote from: bhr on November 23, 2013, 07:30
Quote from: ShadySue on November 23, 2013, 06:58
Yes, the fee is in the rate; but it is still an added percentage for conversion (it's stated somewhere on PP).

We (meaning we contributors) are not charged for receiving our iStock money at Paypal. If we choose to convert it to a different currency then that is nothing to do with iStock or whoever else sends it.

Provided that you set up a $ balance the money should not be automatically converted and nothing will be deducted or lost in the rate.

I knew we don't have to pay for receiving at PP, and don't know why you brought that up.
My question was ONLY about currency conversion. Converting is not an unreasonable choice for those of us furth of the US, but is an extra expense.

There is no reason to expect someone sending you money from a different country or in a different currency to pay for you to make a currency conversion.

It's just like if I get a cheque from abroad. Clearly it would be bonkers for me to expect the sender to pay for me to convert it into some other currency.

ShadySue · « **Reply #11 on:** November 23, 2013, 07:48 »

^^ No need to sermonise as usual. I asked a simple question; I don't need harangued. A simple 'Yes' would have sufficed.

bunhill · « **Reply #12 on:** November 23, 2013, 07:55 »

No. You will not be charged for a currency conversion provided that you have your account set up to receive $ as $.

ShadySue · « **Reply #13 on:** November 23, 2013, 08:00 »

Quote from: bhr on November 23, 2013, 07:55

No. You will not be charged for a currency conversion provided that you have your account set up to receive $ as $.

And do not convert out of $$ to withdraw or make payments.

But my question was particularly about converting currency, so the answer is an unequivocal Yes.

Ron · « **Reply #14 on:** November 23, 2013, 08:05 »

Quote from: bhr on November 23, 2013, 07:55

No. You will not be charged for a currency conversion provided that you have your account set up to receive $ as $.

You will always have to pay a conversion rate somewhere down the line to get the money in your bank. Unless you keep it as PayPal balance.

bunhill · « **Reply #15 on:** November 23, 2013, 08:07 »

Yes you should be paying to convert currencies if you choose to.

OK ?

Ron · « **Reply #16 on:** November 25, 2013, 16:25 »

Just got paid.

ShadySue · « **Reply #17 on:** November 25, 2013, 17:11 »

Quote from: Ron on November 25, 2013, 16:25

Just got paid.

Ha! Lucky you!
But I expect Tuesday, so I'm not alarmed yet!

Added: Wow, I just checked and the payment is actually in my PayPal account, before the emails have come! Wonder if that always happens - I've only ever checked after getting the emails.

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Author Topic: PayPal payout - how long does it take? (Read 5588 times)

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