There are two types of charges involved:
Sending charges - These are completely borne by Kolabtree.
Receiving charges - There will be a Forex conversion charge of 2% on each transfer which you receive from Kolabtree and which will replace the conversion charges of 2.5% to 4.5% which your bank would be charging you
P.N: The forex conversion charge of 2% will be borne by you, apart from the intermediary bank charges (if applicable)
Example: For $100 paid by Kolabtree to a freelancer located in UK (select to be paid in GBP), Payoneer will charge sending charges to Kolabtree for the payment and the freelancer will receive $100 - $2(=2%) = $98 = 67.98₤ ($1=0.69₤ [midmarket rate])
Pricing and Fees
Items | Price | Unit | Details |
General | |||
Account Set up | Free | Per Account | One Time - when account is first set up |
BANK TRANSFER FEES | |||
Transfer to Bank account | Free for Freelancers (Borne by Kolabtree) | Per Transfer | Each time a Bank transfer is made |
Conversion rate USD to local currency | 2.00% of Total amount (To be borne by Freelancers) | Per Transfer | Each time a Bank transfer is made |