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help me understand the cotsts

srjanluchin Member Posts: 1
edited June 2020 in Ask The Community
Hi there.

I have a few questions before working with payoneer and I will make a case study for a better understanding.

I am an author on envato marketplaces, I am located in Romania and let's say I have to withdraw 1000$ to my bank account in Romania (RON).

From what I understand from "Pricing and fees - Local transfers to Romania" is that, there's a 3$ fee ( transfer to bank account ) and something else I don't understand called 2% of total amount ( conversion rate USD to RON )

So, if I have to withdraw 1000$ from envato: 2% * 1000$ = 20$ + 3$ = 23$. 1000$ - 23$ = 977$.
Will payoneer transfer 977$ to my bank account and then the bank will convert the USD in RON using its exchange rate?

OR Payoneer will convert USD to RON using 2% above the market share (???). Let's say 1 USD = 3.6 RON ( -- Payoneer 3.6 *2% = 0.072 | 3.6 - 0.072 = 3.52. Payoneer will convert USD to RON at 3.52?
That is 1000-3 = 997$ * 3.52 = .....

Also, I have a bank account in USD. If I choose to withdraw money to my USD bank account, there's only 15$ fee. That means in my bank account will arrive 985$? Then I will convert to RON at my bank.

I hope you'll understand what I tried to explain, and it would be nice if someone would reply with a case study as well.

Thank you , and have a great day!