Here is a quick breakdown of SWAPD current fee structure.
- SWAPD provides middleman (escrow) services for digital rights to online assets. For this service, we charge a flat 10% fee. This fee is deducted from the total agreed price, before money transfer fees. This fee is non-negotiable and non-refundable.
- On top of our 10% fee, there will be additional fees related to moving the money from point A to point B. These fees are covered by sellers, no exceptions. Sellers aren't allowed to transfer this fee onto buyers. The amount of these fees will vary, depending on payment method, country of buyer/seller, and a few other factors.
- Changing payment merchant payouts isn't allowed. This means that if the buyer opts to pay via PayPal, the seller has to accept PayPal. If the buyer opts to pay via Bank Wire, the seller has to accept Bank Wire. Buyers don't have the final say in the payment method, this gets settled during negotiations at checkout between both parties.
FREQUENTLY ASKED QUESTIONS
So how much are the PayPal fees if I decide to buy/sell via this merchant?
PayPal is the most used payment merchant on SWAPD, and at the same time, the most difficult to estimate. This is because PayPal fees aren't set in stone, and they depend on many factors, including the country of sender/receiver. PayPal states on their website that they only charge 2.9% + .30 cents per transaction, but that only applies to payments within the United States. When sending/receiving money abroad, this fee may rise all the way to 5.5%. PayPal calls this "cross border fees" and they vary from country to country. To see the most recent fee chart, see the image below. (Click to enlarge)
The burden of calculating the fee falls upon the buyer/seller. Even though our staff will help you with estimating the payout, SWAPD will not be responsible for any miscalculations. When using PayPal, and in addition to our fee, you can expect a total fee anywhere from 14.8% all the way to 21%. This mostly depends on where you live and current PayPal fees in your country. Please remember that the PayPal fee doubles, as all payments go through our account. This is to protect the sellers from chargebacks.
How much are Bank Wire fees?
Bank wire fees are very friendly to the pocket, especially for larger transactions. Usually, they're anywhere between 20-40 USD one way. This means you can send 1000 USD for 20 USD, or 10,000 for the same amount. Wire fees are usually fixed, this is why they're our preferred method of payment for transactions over 1000 USD.
How long does a Bank Wire take?
Usually within 1-3 business days. In rare cases, 4-6 days. This also depends on your bank policies, country of residence, upcoming holidays, etc.
What are your current methods of payment?
We currently accept PayPal, Skrill.com, Bank Wire, and BTC. In the past, we allowed Western Union and Money Gram, but due to the cumbersome process of accepting payments from those merchants, we're discontinuing their use.
If a buyer pays with PayPal, can I get a Bank Wire?
No. Cross merchant payouts aren't allowed. This is because all our company accounts run in our native currency, PLN. When we get paid in USD, we would have to convert the payment into PLN, only to exchange into USD again in order to send it, thus losing money due to unfavorable exchange rates.
Does SWAPD accept Payoneer?
No. Our company does not currently accept this merchant.
Why is SWAPD is so expensive? 14-15% for everything seems excessive.
15% isn't considered expensive by industry standards. For example, Booking.com charges hotels 15% per booking. Yes, we aren't Booking.com, but unlike them, we operate in a hostile environment. It's no secret that this business model is plagued with con-artists. Since the things we deal with are virtual in nature, many people take advantage of this and constantly try to exploit us or our clients. Chargebacks and cheated buyers are nearly always compensated by our company. Also, in order to keep you safe, we manage and audit every property during checkout. This takes time and man power. So, while our fee may seem high, for the amount of comfort and protection you get, we say it's well worth it.