Convert USD to INR & Withdraw Money ➤
Payoneer
The fees for Payoneer is as shown below:
Minimum cashout: $20
Fees per cashout: $2 (Fixed for any amount)
Withdrawal to bank account: Free
USD to INR Conversion fee (Foreign Exchange): 2.00% above mid-market rates. (Will explain this here in a moment)
So, let us look at 3 scenarios with different amounts of withdrawals.
Scenario 1: Cashout amount is $20
The amount you will receive to your Payoneer account: $18 (After deducting the $2 fee per cashout)
Balance available in your Payoneer account will be $18 and when you withdraw this amount to bank account, Payoneer will charge a 2% conversion fee for converting USD to INR on the mid-market rates.
So, on 20th February 2017, 1 US Dollar equals 66.95 Indian Rupee. That means you will receive 65.62 INR against USD after deducting the 2% conversion fee which is 1.33 INR in this case.
The total amount you will receive to your bank account here will be 18*65.62= 1181.16 INR.
Scenario 2: Cashout amount is $100
The amount you will receive to your Payoneer account: $98 (After deducting the $2 fee per cashout)
The total amount you will receive to your bank account here will be 98*65.62= 6430.76 INR.
Scenario 3: Cashout amount is $200
The amount you will receive to your Payoneer account: $198 (After deducting the $2 fee per cashout)
The total amount you will receive to your bank account here will be 198*65.62= 12992.76 INR.
Now lets compare these three scenarios with PayPal and see how much we loose/gain with it being not available.
PayPal
Scenario 1: Cashout amount is $20
Cashout fees at PayPal were: 2%
The amount you might have received to your Paypal account would be: $19.60
Withdrawal to bank: Free
USD to INR Conversion fee (Foreign Exchange) for PayPal is: 3.5%
So, on 20th February 2017, 1 US Dollar equals 66.95 Indian Rupee. That means you will receive 64.61 INR against USD after deducting the 3.5% PayPal conversion fee which is 2.34 INR in this case.
The total amount you will receive to your bank account here will be 19.60*64.61= 1266.35 INR.
The lossof amount for withdrawing $20 from ClixSense using Payoneer against PayPal is 1266.35-1181.16= 85.19 INR
Scenario 2: Cashout amount is $100
The amount you might have received to your Paypal account would be: $98
The total amount you will receive to your bank account here will be 98*64.61= 6331.78 INR.
The gain of amount for withdrawing $100 from using Payoneer against PayPal is 6430.76-6331.78= 98.98 INR
Scenario 3: Cashout amount is $200
The amount you might have received to your Paypal account would be: $196
The total amount you will receive to your bank account here will be 196*64.61= 12663.56 INR.
The gainof amount for withdrawing $200 from ClixSense using Payoneer against PayPal is 12663.56-12992.76= 329.20 INR
So, with the above calculations we can say that Payoneer is actually better than PayPal for higher withdrawals because of its $2 fixed fee per cashout. However, if you tend to withdraw small amounts below $70, Payoneer is not what you want to choose. Look below the fees for Payza and you will know why.
Payza
The fees for Payza is as shown below:
Minimum cashout: $8 (Free) and $6 (Premium)
Fees per cashout: 2.90 % + $0.30 USD
Withdrawal to bank account: 60 INR (fixed per withdrawal)
USD to INR Conversion fee (Foreign Exchange): 2.50%
Let's calculate the fees similar to what we have done with Payoneer.
Scenario 1: Cashout amount is $10
The amount you will receive to your Payza account: $9.41 (After deducting the 2.90 % + $0.30 USD fee per cashout)
Balance available in your Payza account will be $9.41 and when you withdraw this amount to bank account, Payza will charge a 2.5% conversion fee for converting USD to INR on the mid-market rates.
So, on 20th February 2017, 1 US Dollar equals 66.95 Indian Rupee. That means you will receive 65.28 INR against USD after deducting the 2.5% conversion fee which is 1.67 INR in this case.
The total amount you will receive to your bank account here will be 9.41*65.28-(60)= 554.28 INR (After deducting the 60 INR fees charged by Payza for bank withdrawal.
Comparing this amount ($10) with PayPal we would have got 633.17 (See above for calculation of PayPal fee and conversion charges). Therefore the loss here for withdrawing $10 from ClixSense using Payza against PayPal is 633.17-554.28= 78.89 INR.
Since minimum withdrawal for Payoneer is $20, there is no point comparing it here in this scenario.
Scenario 2: Cashout amount is $20
The amount you will receive to your Payza account: $19.12 (After deducting the 2.90 % + $0.30 USD fee per cashout)
The total amount you will receive to your bank account here will be 19.12*65.28-(60)= 1188.15 INR.
Comparing this amount ($20) with PayPal we would have got 1266.35 (See above for calculation of PayPal fee and conversion charges). Therefore the loss here for withdrawing $20 from ClixSense using Payza against PayPal is 1266.35-1188.15= 78.20 INR.
Comparing this amount ($20) with Payoneer we would have got 1181.16 (See above for calculation of Payoneer fee and conversion charges). Therefore the gain here for withdrawing $20 from ClixSense using Payza against Payoneer is 1188.15-1181.16= 6.99 INR.
Scenario 3: Cashout amount is $100
The amount you will receive to your Payza account: $96.8 (After deducting the 2.90 % + $0.30 USD fee per cashout)
The total amount you will receive to your bank account here will be 96.8*65.28-(60)= 6259.10 INR.
Comparing this amount ($100) with PayPal we would have got 6331.78 (See above for calculation of PayPal fee and conversion charges). Therefore the loss here for withdrawing $100 from ClixSense using Payza against PayPal is 6331.78-6259.10= 72.68 INR.
Comparing this amount ($100) with Payoneer we would have got 6430.76 (See above for calculation of Payoneer fee and conversion charges). Therefore the loss here for withdrawing $100 from ClixSense using Payza against Payoneer is 6430.76-6259.10= 171.66 INR.
Clearly the winner here in this case is Payoneer.
Skrill
The fees for Skrill is as shown below:
Minimum cashout: $8 (Free) and $6 (Premium)
Fees per cashout: 1%
Withdrawal to bank account: €5.50 (~400 INR)
USD to INR Conversion fee (Foreign Exchange): 3.99%
With such heavy bank withdrawal and conversion fees, Skrill is not recommended as a payment processor for Indians.
Paytoo
Minimum cashout: $8 (Free) and $6 (Premium)
Fees per cashout: Free
Withdrawal to bank account: $8
USD to INR Conversion fee (Foreign Exchange): Unknown
With such heavy fees to bank withdrawal, Paytoo can be conveniently ignored as a payment processor for Indians.
Tango Card
Minimum cashout: $8 (Free) and $6 (Premium)
Fees per cashout: Free
Withdrawal to bank account: Not Available
USD to INR Conversion fee (Foriegn Exchange): Not Available
The balance in Tango card can be used to redeem various gift cards for US and other international based websites and stores. It can also be used to redeem the balance to BitCoin too. So, if you require such gift cards or BitCoin this would be an option for you.
I do not have much information about this so, I am unable to list the charges or fees. If anyone knows the same, you may comment below and will update the same.
Conclusion →
1. If you are cashing out less than $70 use Payza
2. If you are cashing out more than $70 use Payoneer
3. If you are looking for Gift cards or bitcon use Tango Card
P.S. I have made a lot of effort to gather all this information here. There might be some omissions or errors. Please let me know if you find any so that I can update the same.
Happy earning! đđ
The fees for Payoneer is as shown below:
Minimum cashout: $20
Fees per cashout: $2 (Fixed for any amount)
Withdrawal to bank account: Free
USD to INR Conversion fee (Foreign Exchange): 2.00% above mid-market rates. (Will explain this here in a moment)
So, let us look at 3 scenarios with different amounts of withdrawals.
Scenario 1: Cashout amount is $20
The amount you will receive to your Payoneer account: $18 (After deducting the $2 fee per cashout)
Balance available in your Payoneer account will be $18 and when you withdraw this amount to bank account, Payoneer will charge a 2% conversion fee for converting USD to INR on the mid-market rates.
So, on 20th February 2017, 1 US Dollar equals 66.95 Indian Rupee. That means you will receive 65.62 INR against USD after deducting the 2% conversion fee which is 1.33 INR in this case.
The total amount you will receive to your bank account here will be 18*65.62= 1181.16 INR.
Scenario 2: Cashout amount is $100
The amount you will receive to your Payoneer account: $98 (After deducting the $2 fee per cashout)
The total amount you will receive to your bank account here will be 98*65.62= 6430.76 INR.
Scenario 3: Cashout amount is $200
The amount you will receive to your Payoneer account: $198 (After deducting the $2 fee per cashout)
The total amount you will receive to your bank account here will be 198*65.62= 12992.76 INR.
Now lets compare these three scenarios with PayPal and see how much we loose/gain with it being not available.
PayPal
Scenario 1: Cashout amount is $20
Cashout fees at PayPal were: 2%
The amount you might have received to your Paypal account would be: $19.60
Withdrawal to bank: Free
USD to INR Conversion fee (Foreign Exchange) for PayPal is: 3.5%
So, on 20th February 2017, 1 US Dollar equals 66.95 Indian Rupee. That means you will receive 64.61 INR against USD after deducting the 3.5% PayPal conversion fee which is 2.34 INR in this case.
The total amount you will receive to your bank account here will be 19.60*64.61= 1266.35 INR.
The lossof amount for withdrawing $20 from ClixSense using Payoneer against PayPal is 1266.35-1181.16= 85.19 INR
Scenario 2: Cashout amount is $100
The amount you might have received to your Paypal account would be: $98
The total amount you will receive to your bank account here will be 98*64.61= 6331.78 INR.
The gain of amount for withdrawing $100 from using Payoneer against PayPal is 6430.76-6331.78= 98.98 INR
Scenario 3: Cashout amount is $200
The amount you might have received to your Paypal account would be: $196
The total amount you will receive to your bank account here will be 196*64.61= 12663.56 INR.
The gainof amount for withdrawing $200 from ClixSense using Payoneer against PayPal is 12663.56-12992.76= 329.20 INR
So, with the above calculations we can say that Payoneer is actually better than PayPal for higher withdrawals because of its $2 fixed fee per cashout. However, if you tend to withdraw small amounts below $70, Payoneer is not what you want to choose. Look below the fees for Payza and you will know why.
Payza
The fees for Payza is as shown below:
Minimum cashout: $8 (Free) and $6 (Premium)
Fees per cashout: 2.90 % + $0.30 USD
Withdrawal to bank account: 60 INR (fixed per withdrawal)
USD to INR Conversion fee (Foreign Exchange): 2.50%
Let's calculate the fees similar to what we have done with Payoneer.
Scenario 1: Cashout amount is $10
The amount you will receive to your Payza account: $9.41 (After deducting the 2.90 % + $0.30 USD fee per cashout)
Balance available in your Payza account will be $9.41 and when you withdraw this amount to bank account, Payza will charge a 2.5% conversion fee for converting USD to INR on the mid-market rates.
So, on 20th February 2017, 1 US Dollar equals 66.95 Indian Rupee. That means you will receive 65.28 INR against USD after deducting the 2.5% conversion fee which is 1.67 INR in this case.
The total amount you will receive to your bank account here will be 9.41*65.28-(60)= 554.28 INR (After deducting the 60 INR fees charged by Payza for bank withdrawal.
Comparing this amount ($10) with PayPal we would have got 633.17 (See above for calculation of PayPal fee and conversion charges). Therefore the loss here for withdrawing $10 from ClixSense using Payza against PayPal is 633.17-554.28= 78.89 INR.
Since minimum withdrawal for Payoneer is $20, there is no point comparing it here in this scenario.
Scenario 2: Cashout amount is $20
The amount you will receive to your Payza account: $19.12 (After deducting the 2.90 % + $0.30 USD fee per cashout)
The total amount you will receive to your bank account here will be 19.12*65.28-(60)= 1188.15 INR.
Comparing this amount ($20) with PayPal we would have got 1266.35 (See above for calculation of PayPal fee and conversion charges). Therefore the loss here for withdrawing $20 from ClixSense using Payza against PayPal is 1266.35-1188.15= 78.20 INR.
Comparing this amount ($20) with Payoneer we would have got 1181.16 (See above for calculation of Payoneer fee and conversion charges). Therefore the gain here for withdrawing $20 from ClixSense using Payza against Payoneer is 1188.15-1181.16= 6.99 INR.
Scenario 3: Cashout amount is $100
The amount you will receive to your Payza account: $96.8 (After deducting the 2.90 % + $0.30 USD fee per cashout)
The total amount you will receive to your bank account here will be 96.8*65.28-(60)= 6259.10 INR.
Comparing this amount ($100) with PayPal we would have got 6331.78 (See above for calculation of PayPal fee and conversion charges). Therefore the loss here for withdrawing $100 from ClixSense using Payza against PayPal is 6331.78-6259.10= 72.68 INR.
Comparing this amount ($100) with Payoneer we would have got 6430.76 (See above for calculation of Payoneer fee and conversion charges). Therefore the loss here for withdrawing $100 from ClixSense using Payza against Payoneer is 6430.76-6259.10= 171.66 INR.
Clearly the winner here in this case is Payoneer.
Skrill
The fees for Skrill is as shown below:
Minimum cashout: $8 (Free) and $6 (Premium)
Fees per cashout: 1%
Withdrawal to bank account: €5.50 (~400 INR)
USD to INR Conversion fee (Foreign Exchange): 3.99%
With such heavy bank withdrawal and conversion fees, Skrill is not recommended as a payment processor for Indians.
Paytoo
Minimum cashout: $8 (Free) and $6 (Premium)
Fees per cashout: Free
Withdrawal to bank account: $8
USD to INR Conversion fee (Foreign Exchange): Unknown
With such heavy fees to bank withdrawal, Paytoo can be conveniently ignored as a payment processor for Indians.
Tango Card
Minimum cashout: $8 (Free) and $6 (Premium)
Fees per cashout: Free
Withdrawal to bank account: Not Available
USD to INR Conversion fee (Foriegn Exchange): Not Available
The balance in Tango card can be used to redeem various gift cards for US and other international based websites and stores. It can also be used to redeem the balance to BitCoin too. So, if you require such gift cards or BitCoin this would be an option for you.
I do not have much information about this so, I am unable to list the charges or fees. If anyone knows the same, you may comment below and will update the same.
Conclusion →
1. If you are cashing out less than $70 use Payza
2. If you are cashing out more than $70 use Payoneer
3. If you are looking for Gift cards or bitcon use Tango Card
P.S. I have made a lot of effort to gather all this information here. There might be some omissions or errors. Please let me know if you find any so that I can update the same.
Happy earning! đđ
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