Sellers are responsible for all fees in each transaction conducted on SWAPD. Please use our fee calculator to see how much exactly you will end up with, so you know exactly what to charge your buyers. For more information, please see our current payment options and fee chart.
What is the cheapest form of payment on SWAPD?
Here are the four payment methods we currently accept, in the order of most expensive to cheapest. We invite sellers to use our fee calculator to estimate the total they will receive after a successful sale.
#1 PayPal (Most expensive)
PayPal is the fastest payment option we provide during checkouts. However, in order to protect you from chargebacks and payment reversals, the payments go through our company accounts. PayPal usually charges 4-5% each way, so with two transactions, the fee jumps to 9-10%. We recommend using our other, cheaper payment merchants.
#2 Bank Wire
Bank wire payments are great for transactions 1000 USD and up. This is because international bank wires can get costly, running anywhere between 15-45 USD per wire. On average, a wire fee is 25 USD one way. However, please keep in mind that once the money reaches your bank account, your personal banking institution will deduct another fee on your end. Since every bank has different rates, we cannot factor in these costs. The good thing about bank wires is that the fees stay virtually the same, whether the wire is for 1000 USD or 30000 USD. Making them cost effective for larger transactions.
TransferWise.com is one of the cheapest payment merchants we offer. On average, money transfers cost anywhere from 4-5 USD. If you set up a Borderless TransferWise account, the transfers will be free of charge. TransfwerWise.com is a new payment merchant, they are basically a company that provides their clients access to bank accounts from all over the world, and they offer one of the cheapest exchange rates we’ve seen. Having an account on TransferWise is like having your own personal bank account in every major country, which means you can wire/send payments quickly to any part of the world, at a fraction of a cost when compared to standard international wires.
#4 BitCoin (Cheapest)
BTC, or commonly known as BitCoin, is the most known and recognized cryptocurrency in the world. BTC is virtual currency that holds real (fiat money) value. You can buy/sell BitCoin into any currency you wish by using one of the countless BTC exchange websites.BitCoins are the cheapest form of moving money on SWAPD and we highly recommend it. However, there is a negative side to BitCoin. The value of BTC is very unsteady and is not uncommon to see the exchange rates jump up and down up to 200-300% per day. SWAPD will not be responsible for any losses and only pays out in BTC, and not in the value of the current exchange rates.