I’ve never had that much in my account, so I can’t say for certain, but I’d guess so. I do some work on Elance and I’ve been able to withdraw about twice that in one go. Shouldn’t be any different with Envato… in theory!
This is really new to me, I though every big author here is using SWIFT for large withdrawals.
Use PayPal, then transfer to my bank. No fees.
I’m using SWIFT and I’d be ready to pay more fees just to avoid Paypal, you never know if and when they’ll freeze your account with our without any valid reason…
I really used to think that PayPal is the best withdrawal option for a pretty long time. Then I realized how wrong I was.
It’s all fine if your native currency is USD. However, if it’s not and you have to convert your ThemeForest revenue to another one then it’s not that nice anymore. Their exchange rate is just horrible. I’ll give you an example for Polish Zloty (PLN) which is my native currency here in Poland.
The official USD -> PLN exchange rate is currently 3.09 while PayPal shows 3.01. You may say – wait, it’s just 0.08PLN per one dollar! It indeed isn’t unless you convert bigger amounts like $30000 (many authors overcome that value easily). Let’s do a basic math:
$30 000 * 0.08 = 2400 PLN ~ $800
So someone who earns that amount of money actually pays PayPal about $800 just for a currency conversion. It isn’t that nice anymore, is it?
It was my withdrawal method for over 2 years but recently I realized that I lost quiet an amount of money that way. I’ve switched to SWIFT. But I do not SWIFT the money to a bank account in my native currency but a free USD one (many polish banks allow accounts in a foreign currency). I’ve also decided to limit my withdrawals to three or even two a year. Even though there is 3 of them then it’s 3 * $35 = $105.
But you may ask – all right, cool – but you still need to convert that money. Sure I do! But here comes in help an Online Currency Exchange website called Cinkciarz.pl. Their exchange rate is much better than PayPal’s. Here is todays data:
So how much I loose? Just 0.01 PLN per one dollar. So to compare it to the previous calculations, it’s $30000*0.01 = 300PLN ~ $100.
To sum it up, with PayPal I’d loose $800 just to get my money into my polish bank account. With SWIFT, USD bank account and Online Exchange Rate website I loose $205.
Well, it’s all possible if there is a website like Cinkciarz in your country but I’m pretty sure there is. For anyone whose marketplace income is higher than $10 000 and does not live in USA, I strongly suggest to see if the withdrawal method described above wouldn’t be better!
Swift is the very best option for me. Simply from Envato straight to bank account.
Yeah,m here it is:https://www.paypal.com/us/webapps/helpcenter/article/?solutionId=11196
But I’m sure you’ll get some notification if it’s over $10K or Envato will just send two or more payments. I’m guessing though! And there might be some kind of special dispensation for a company that’s sending out millions every month.
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