Buyers and Sellers watch out! The trend is set - Fiverr is getting expensive!
Lately, I have been busy with my new niches and I need some work to be done.
Happily, I hop over to Fiverr (one of my favourites) to get some gigs.
To my surprise, I need to pay a $1 processing fee to Fiverr. This applies to tips as well.
A whopping 50% jump from $0.50 (which was implemented in late 2014)
1st Processing Fee Charge in 2014 --> http://forum.fiverr.com/discussion/fiverr-sneaks-a...
2nd Fee Increase QUIETLY in 2016 --> http://forum.fiverr.com/discussion/processing-fee-...
I am sure I didn't receive any announcement on this fee increment but instead of a Fiverr promotion of spending $20 to get $5 free.
That $1 is a 20% for a $5 gig. Considering that Fiverr is charging the seller 20% for their work done.
For example, you are selling a $5 gig, and you are earning just $4.
http://www.singledudetravel.com/2015/02/how-fiverr...
So, as of Aug 2016, Fiverr is earning 40% from both the seller and buyer for a $5 gig.
For a buyer, if you are using Fiverr frequently, you are not able to pre-fund your account with a tidy sum of money to avoid the processing fee. The only way is, using existing credits that you may have with Fiverr.
This could means that if you are a seller, you may be able to avoid the processing fee with the existing money you have earned.
In a way, if you look at it from another angle, what's stay in Fiverr stay with Fiverr.
If you are a seller and wondering why the sales has dropped recently, this could be one of the reasons.
It's probably time for you to start your very own business website and channel your fiverr customers over.
What could be a better time than now?
You have a steady returning customers.
You have the resources to start a new business site with WA if you didn't.
; )
Recent Comments
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Upwork have also just increased their fees to freelancers to a whopping 20% on the first $500! :)
Hey JudeP, thanks for the info! It's so timely.
I am looking for this piece of info as well. But at least, it's the first $500 and the rates do drop, thereafter.
For fiverr seller, only gig beyond certain amount enjoy just 5% fiverr fee instead of the 20%.
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Cheers.
I cannot help at this time.
Paul.