TwineAs of 27th April, Twine is updating payment methods for both Standard and Pro freelancers.
We have received consistent feedback from you, our community of freelancers, to open up payment options to include methods previously only available to Pro members.
This development happens parallel to a change to PayPal transaction fees, and is a decision that has been made to help alleviate any concerns of Standard freelancers around increasing fees.
Our new system gives a variety of payment options to suit our variety of freelancers, and with significantly lower fees. The new payout methods are:
- US bank transfer (ACH)
- UK bank transfer (Faster Payments)
- EU bank transfer (SEPA)
- International wire transfer (SWIFT, wire)
- Payoneer
- PayPal
From Monday 4th May 2020, we will start charging the updated fees on PayPal payouts. We recommend you use alternatives that are significantly cheaper.
Pro members have access to all of the same payout options and pay no fees for any payment option.
Transaction Fees
To enable different payout options, we’ve had to add payment transaction fees to some of the options.
Updated Transaction Fee Structure:
✔ no fee: method included in subscription
% refers to percentage of value of payout
Previous Transaction Fee Structure:
— Was not available
✔ no fee: method included in subscription
% refers to percentage of value of payout
These fees will change slightly depending on exchange rates. You can read more information about our transaction fees and see the most up to date fees here.
Why is Twine increasing fees for using PayPal?
PayPal is a huge online payments system, and has undoubtedly been a terrific resource in facilitating easy payment from clients to freelancers on Twine.
As we continue to develop, and as our Community grows and diversifies, is it necessary for us to continuously evaluate the efficiency of our infrastructure to better serve our users.
Change on the platform is largely driven by feedback from our Community, and we have consistently registered a desire for a more diverse set of payment methods for standard users. PayPal is becoming increasingly expensive for freelancers to use, and us to facilitate on behalf of users.
Further to this, we take pride in being a global platform, and there are a large number of countries in which PayPal does not operate, or offers only a limited service.
The fees for using PayPal on Twine have increased in order to offset our costs to continue to offer it as a payment system, but also to facilitate the use of additional payment systems with lower rates, better customer service, and suitable for use globally.
Further feedback
We’re always looking to improve further. If there are other payment methods you would like to explore, please get in touch with us.
