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Author Topic: Setting minimum payout or $35?  (Read 3607 times)

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substancep

  • Medical, science, nature, and macro photography

« on: October 27, 2016, 01:09 »
0
Do you guys keep the minimum payout at $35, or do you set your own minimum payout? Is there an advantage to this, such as less fees from paypal?


« Reply #1 on: October 27, 2016, 01:35 »
+1
Do you guys keep the minimum payout at $35, or do you set your own minimum payout? Is there an advantage to this, such as less fees from paypal?
No advantage my philosophy is to get my money in my pocket asap so I have control.

« Reply #2 on: October 27, 2016, 01:45 »
0
PP fees are not the same for every country. For me it's $2.50 or 2.00/withdraw, no matter the amount. I've set a higher minimum because I don't want to pay for each $35 - $50 portion.

In case that you have your PP fees in %, the amount doesn't matter.
« Last Edit: October 27, 2016, 02:10 by Dodie »

« Reply #3 on: October 27, 2016, 02:04 »
+2
I don't pay any fees for PP? (UK)

substancep

  • Medical, science, nature, and macro photography

« Reply #4 on: October 27, 2016, 02:40 »
0
PP fees are not the same for every country. For me it's $2.50 or 2.00/withdraw, no matter the amount. I've set a higher minimum because I don't want to pay for each $35 - $50 portion.

In case that you have your PP fees in %, the amount doesn't matter.

It seems like there is a some kind of fee for paypal, despite it saying otherwise in my email. Looking at my last payout, there was a 2.83% difference from the payout and actual deposit in my paypal account. I have not found any documentation in shutterstock saying how much their fees are. I cannot say for sure if this percentage is valid for all payouts, as I have had only one payout. But, as long as paypal does not have any extra fees PER deposit, then I guess you are right in saying that the amount doesn't matter.

« Reply #5 on: October 27, 2016, 03:14 »
+1
i've standard payout at 100$...i don't see the any reasonable need of a 35$ payout  :D

« Reply #6 on: October 27, 2016, 03:40 »
0
i've standard payout at 100$...i don't see the any reasonable need of a 35$ payout  :D
I don't see any reasonable need not to have a $35 pay out...I suppose it depends on your earnings. I've just checked no fees for me ..perhaps it depends on your Paypal account?

« Reply #7 on: October 27, 2016, 04:01 »
0
No PP fees in Russia too, but unfortunately all earnings are automatically converted into Russian roubles at PP's internal rate which is significantly lower than the official one, so I get about 5% less after all :(

SpaceStockFootage

  • Space, Sci-Fi and Astronomy Related Stock Footage

« Reply #8 on: October 27, 2016, 04:17 »
+1
Nobody ever gets the 'official rate', unless you own a bank... or a country. So it's not that much lower than you'd get in other places, and maybe a bit higher than some. But look on the bright side... it's a better rate than you'd get if you were changing it at the airport!

« Reply #9 on: October 27, 2016, 04:42 »
+1
PP fees are not the same for every country. For me it's $2.50 or 2.00/withdraw, no matter the amount. I've set a higher minimum because I don't want to pay for each $35 - $50 portion.

In case that you have your PP fees in %, the amount doesn't matter.

It seems like there is a some kind of fee for paypal, despite it saying otherwise in my email. Looking at my last payout, there was a 2.83% difference from the payout and actual deposit in my paypal account.saying how much their fees are. I cannot say for sure if this percentage is valid for all payouts, as I have had only one payout. But, as long as paypal does not have any extra fees PER deposit, then I guess you are right in saying that the amount doesn't matter.
You will not find any documentation at SS regarding PP. You have to look at PP site.
"PP does not have any extra fees PER deposit," meaning that you can keep your money in PP balance, but they have all kind of fees when you withdraw, again, depending on your country of residence.
Here is the documentation for my region, it could be different for yours, just replace /ro/ with your country abbreviation in the URL.
https://www.paypal.com/ro/cgi-bin/webscr?cmd=_display-withdrawal-fees-outside select your country here
https://www.paypal.com/ro/cgi-bin/webscr?cmd=_display-receiving-fees-outside
https://www.paypal.com/ro/cgi-bin/webscr?cmd=_display-fees-outside

https://www.paypal.com/ro/cgi-bin/webscr?cmd=_display-xborder-fees-outside&countries=
« Last Edit: October 27, 2016, 05:01 by Dodie »

« Reply #10 on: October 27, 2016, 04:58 »
0
No PP fees in Russia too, but unfortunately all earnings are automatically converted into Russian roubles at PP's internal rate which is significantly lower than the official one, so I get about 5% less after all :(

Are you sure? Here's just one: https://www.paypal.com/ru/cgi-bin/webscr?cmd=_display-xborder-fees-outside&countries=

« Reply #11 on: October 27, 2016, 05:33 »
0
Nobody ever gets the 'official rate', unless you own a bank... or a country. So it's not that much lower than you'd get in other places, and maybe a bit higher than some. But look on the bright side... it's a better rate than you'd get if you were changing it at the airport!

Yes I know, still if I get my royalties in $ I could exchange it myself in any bank at the rate which is 5% higher than PP's one :) I know Skrill has a better exchange rate, but then they charge the commission, so it comes out more or less the same

« Reply #12 on: October 27, 2016, 05:39 »
0
No PP fees in Russia too, but unfortunately all earnings are automatically converted into Russian roubles at PP's internal rate which is significantly lower than the official one, so I get about 5% less after all :(

Are you sure? Here's just one: https://www.paypal.com/ru/cgi-bin/webscr?cmd=_display-xborder-fees-outside&countries=

Yes I'm positive, the one in the link concerns the outgoing payments only, i guess (if I'm the one who pays).

« Reply #13 on: October 27, 2016, 12:27 »
0
No PP fees in Russia too, but unfortunately all earnings are automatically converted into Russian roubles at PP's internal rate which is significantly lower than the official one, so I get about 5% less after all :(

If you set USD as the main currency, you can probably keep the money in USD and convert to RUB at any time when it's a reasonable rate. Paypal also only changes the rate daily, so you can use that to your advantage - for example, when I see USD/PLN going down 1% on the day, I would convert and only pay ~2% instead of the usual ~3% conversion fee.

« Reply #14 on: October 27, 2016, 15:22 »
+1
No PP fees in Russia too, but unfortunately all earnings are automatically converted into Russian roubles at PP's internal rate which is significantly lower than the official one, so I get about 5% less after all :(

If you set USD as the main currency, you can probably keep the money in USD and convert to RUB at any time when it's a reasonable rate. Paypal also only changes the rate daily, so you can use that to your advantage - for example, when I see USD/PLN going down 1% on the day, I would convert and only pay ~2% instead of the usual ~3% conversion fee.

Nope, it's a law here - any incoming payments to PP are automatically converted into RUB straight away. We can request not to convert the $ only if we use the money to pay for something online directly from our PP account. But that's not my case, I need to transfer my income to my bank ;)


 

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