Step By Step: Cashing Out My Fiverr Income Through PayPal

Posted by Kris | Sunday, June 24, 2012 | , | 2 comments »

I cashed out the money that I earn from completing my Fiverr gigs. The money is peanuts but I wanted to try out the money withdrawal flow. Initially, Fiverr only allowed withdrawal if your account reached a certain amount, if I am not mistaken is around ~USD40. Hence, roughly you need to complete around 10 gig requests. Thus, limitation prompted the netizen to doubt the legit-ness of the whole Fiverr business model. 

Luckily, Fiverr quickly responded and now there is NO such limitation.

The withdrawal process is very easy. Here are the steps:

Partial screenshot: I deleted some of the detail to protect the privacy of my Fiverr Gig buyers


1. You need a verified account for Paypal. To get a verified account, you need to give account information (credit card number, debit card, etc) to Paypal and follow thru the verification process. I am not going to discuss in detail about this crucial step.

2. When you have an verified paypal account, just click on the Sellers-> Revenue tab. You will be able to see how much money that you can withdrawal into your Paypal account. If this is your first time you click to withdraw the money, Fiverr will prompt you to enter your Paypal account ID. Remember to get this correct the first time!!, you will never ever be able to change it in the future. (P.S The PayPal info needed is the email address you use to login into Paypal. So please remember the @hotmail, @gmail as suffix) 

3. Fiverr will send an email link to verify the withdrawal transaction to your Paypal email address. Once you click that , the money is instantly received at your Paypal account. So FAST and EASY!!!


PayPal's charges 2% of the total withdrawal sum, and up to a maximum of $1 when withdrawing revenues. Withdrawing $50 or more in one go will save you a little cash. Having paid the piper, the conversion turns out to be quite good. (expected to be good) I got a USD to RM conversion rate of ~3.10.


Now the hard part is getting people to buy your Gigs at Fiverr.


Here is the old post on how to get started on Fiverr.


http://www.knowthymoney.com/2012/05/fiverr-what-are-you-willing-to-do-for-5.html



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2 comments

  1. ChampDog // 8:37 PM  

    I haven't got chance to cash out my paypal money yet.

  2. Kris // 11:01 PM  

    Don't worry sure got chance one :)