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andre28 says

Hello guys,

i have a problem with swift transactions and i was wondering if there are other italian authors that use regularly this method of payment.

Also an important thing is that i have a bank account with a bank called Fineco that have a multicurrency option that allow you to keep the US$ without changing them directly into euro when receiving the payment.

My issue in particular is related to this combination of banks i guess.

Thank you for any reply, kind regards.

Andrea

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lollum says

Ciao scusa hai più risolto?

Volevo sapere anch’io qual è il miglior metodo per fare questa cosa. Non ho ancora aperto il conto su Fineco ma è mia intenzione farlo presto (con opzione multicurrency). Però vedo che ci sono un sacco di voci a cui non so dare risposta nella richiesta del withdrawal (ma magari è perché non ho ancora aperto il conto). Tipo “Bank Branch City” (forse opzionale) e quelle relative alla Intermediary Bank.

Mi hanno anche consigliato Payoneer, però volevo sapere appunto se si poteva fare direttamente con lo swift e basta. E come fare per mantenerli in USD.

Ciao e scusa se mi sono intromesso!

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chrisworks says

Ciao,

purtroppo non uso questo tipo di conto multicurrency (al momento uso ancora Paypal), tuttavia sono interessato a capirne gli eventuali vantaggi. Voglio dire, anche Paypal ti permette di mantenere gli importi in US$, il punto è che se poi acquisti in € sei costretto comunque a cambiarli ed a “sottostare” al lucroso tasso di cambio di Paypal.

Ad ogni modo resto in ascolto, magari ci capisco qualcosa di più.

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lollum says

Ciao, da quel che so io Fineco ti permette di avere il conto anche in altre 3 valute (dollari, sterline e franchi svizzeri). Ognuno ha un IBAN diverso quindi è quello in USD che bisogna usare quando si fa il withdrawal. Il vantaggio di Fineco è che ti permette il cambio senza spese.

Però ripeto, io non ho ancora il conto e vorrei saperne di più da chi l’ha utilizzato.

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andre28 says

ciao ragazzi! vi dico subito tutte le info che ho, siccome ho usato questo metodo già 3 volte. vi rispondo in inglese, credo sia una regola del forum, ma nel caso vi servano altri dettagli contattatemi pure e cercherò di rispondervi!

hi everyone, i opened my fineco bank account few months ago and enabled the multicurrency option that allow you to receive payments and keep the currency (USD, CHF, GBP). you can then change into euro when you want, when the exchange is favorable (for example at the moment paypal conversion is 0.73, while fineco 0.747!) but you can’t withdraw them if you go for example in the US; it’s only an online feature. here on graphicriver when asking for swift you just have to put the essential details of your bank account (name, bank, city, country, swift code etc.) so don’t need to ask for intermediary banks or other particular stuffs.

Until now i made 3 test, the first one with 500$ then other 2 with higher amounts. unfortunately i had and still have a small issue: when using swift you know you will have to pay 35$ of commission to envato. But when i received the payment in my bank account, the first time 60$ where missing, the other 2 times 65$. After writing to support here on graphicriver and to my bank several times, no one is able to answer where these extra money (25-30$ each time) are gone and who is responsible for it.

Fineco told me that from Envato’s bank the money goes through an intermediary bank called “THE BANK OF NEW YORK MELLON” even if i haven’t requested it. Envato staff instead told me that they don’t send the money through this bank and don’t know anything about it.

I literally wrote around 20-30 emails to solve this problem but yet i didn’t got a satisfying clarification from envato or fineco, always denying responsability each other.

In the end, from my point of view, this method is favorable only if you make few requests of payment through the year and with high amounts. If you need money to use in the short term than continue to use paypal, even if they are thief with the exchange rate…

i don’t know how payoneed works, but i guess is similar to paypal.

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Nissim_Payoneer says

Hi Andre,

It sounds like the issue you are experiencing is related to international landing fees imposed by intermediate banks. Whenever a SWIFT transfer is send (regardless of the sender) it passed through intermediate banks that are decided y your country’s local banking network. These banks may apply landing fees to the transfer, which is most likely why you saw additional fees charged that were not from Envato.

One possible solution to significantly reduce your costs is local bank transfers with Payoneer. If you select Payoneer as your payment method, you will be able to sign up for payments via direct bank transfer. For payments to Italy we support local transfers, meaning we will send you the funds from a local bank in Italy, in EUR. Since this is a local transfer it is not an international wire, and so you will be charged no landing fees.

Best of all the cost is only $2.99 per transfer. We convert your funds from USD to EUR based on rates of 2% above the official market mid-rate, which is an extremely good rate.

In addition Payoneer supports international wire transfers in USD to Italy, if you’d prefer, at a cost of only $15 per payment (so in this case you still save $20 per payment by switching to Payoneer).

Please let me know if you have any questions,

Nissim | Payoneer Community Manager | payoneer.com

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andre28 says

thanks for the informations! it looks quite similar to paypal but i will try to check it out.

Here we are discussing about how to keep USD in our bank account in europe, so my question is: if i request a payment from envato to payoneer, are there any fees? if not, then trasferring USD to my multicurrency account to keep them, does it cost only 15$? not 35$ of swift + 30$ of intermediary bank?

Could you clarify this with a simple A+B=C

Thank you!

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Nissim_Payoneer says

Yes, this is exactly how it works:

- You sign in to your Envato account and select Payoneer as your payment method
- You will be directed to an online application page, where you choose to get paid to your bank account
- During the application, you can choose your payout currency (in this case you will choose USD)
- Payoneer charges $15 per transfer to your bank account (for USD transfers)

We transfer in USD so there is no conversion made. You do not pay the Envato SWIFT fee since it’s a payment via Payoneer, so you will pay only $15 per transfer. Note that the landing fees may still be applied by intermediate banks in your country (Payoneer/Envato have no control over this), however even so you will still save $20 per transfer (by paying $15 instead of $35 that you are paying now).

The sign up process looks like this: http://blog.payoneer.com/lower-fees-for-payoneers-global-bank-transfer-gbt-service/

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chrisworks says

Hi Andre, it’s not like Paypal.

If I understood what Nissim said, you’ll get your money (converted from USD to € at their rate) in your Bank Account via Bank Transfer at the cost of only 2,99$ regardless of the amount you’re withdrawing. Is it right ?

If possible, I would like to know more about this sentence “rates of 2% above the official market mid-rate, which is an extremely good rate.”

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Nissim_Payoneer says

Hi Andre, it’s not like Paypal.

If I understood what Nissim said, you’ll get your money (converted from USD to € at their rate) in your Bank Account via Bank Transfer at the cost of only 2,99$ regardless of the amount you’re withdrawing. Is it right ?

If possible, I would like to know more about this sentence “rates of 2% above the official market mid-rate, which is an extremely good rate.”

Correct, the cost per transfer to Italy in EUR is $2.99 regardless of the amount (there is no maximum limit). Since it’s a local transfer and not an international one, you will not be charged any international landing fees by intermediate banks.

The official mid-rate or “Mid-Market Rate” is the mid-point between the currency’s official buy and sell rates, taken at the time the transfer is made. Here is a great tool you can use to estimate it: http://www.xe.com/faq/rates_buyorsellrates.php So in this case Payoneer will use a rate of 2% above that rate.

For example right now 1 USD = 0.753 EUR, so we will use a rate of 0.738.

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