Articles on: Payouts

Payout Fees

Transfer fee

We charge you a transfer fee for sending your money when we pay you. The fee amount depends on your active payout method.

For example, if you want to be paid USD to your CosmoPayment card, our transfer fee is 2 USD per payout.

Conversion fee

When you sell with FairPay, you earn US Dollars and Euros (depending on your customer's location). However, we can pay you in many other currencies!

FairPay charges a 1.5% conversion fee on any amount converted.

It is usually much lower than typical bank fees of 3-3.5% and intended to cover our conversion costs (we must pay a fee to our supplier).

FairPay does not make money by giving you a house rate when converting currencies.

FairPay tries to give you the best rate (as close to the mid-market rate as possible): we give you the rate we get from our supplier directly.

The rate at which we convert your money and our conversion fee are available in total transparency in both your payout slips and your transaction log.  

The list of available currencies for payout depends on the payout method and your country of residence. You can choose the currency when adding a new payout method.

VAT fee

If you are in Europe, we must apply VAT to our fees based on your country of residence.

The rate depends on your country, and we pay the entirety of the VAT collected to the state (we make no profit on this and act out of legal obligation). 

For example, if you are in France, which has a standard rate of VAT of 20%, and your conversion fee should be 1 Euro, it will be 1.20 Euro once we apply the VAT.

-> Read more on VAT here

Updated on: 10/10/2023

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