Discussion of article "Payments and payment methods" - page 111

[Jacobie Nycambren Barksdale]

Well, glad to see I'm not the only one but frustrated that it's not solved.. 

PayPal was the only option that worked for me as a US developer. US is blocked from WebMoney and it would take 1000 jobs (at minimum rate) to get $3000 USD to qualify for a bank transfer. But if I'm unable to withdraw even $500, how can I be sure that $3000 will even be received?

Is this the end of US developers freelancing for MQL5?

[Shalem Loritsch]

Jefferson Judge Metha #:
Hello guys, Moderators you guys have the ears of Mql5 staff. 

Please may you request that the minimum Bank transfer to be reduced to $10 if possible $1. As they are solving the problem we have in our hands.. i say this zcause in another forum some1 asked mql5 to reduce bank transfer to a lowe price than 3K. And they allowed it and they withdrew.. if they can do that then they can do even lower amounts

Considering that the Wire Transfer fee is now $30 (it was $35 for the longest time—which is quite standard for wire transfers), there's absolutely no reason to reduce the bank transfer amount threshold to "$10 if possible $1"—you'll lose money on such a transaction!  Considering that the withdrawal methods that appear for me here have a 1.5-2.5% fee, I believe that reducing the bank transfer amount threshold from $3000 ($30 = 1% fee) to $2000 ($30 = 1.5% fee) or even $1000 ($30 = 3% fee) would be reasonable.  Much below that, the fee once again starts becoming cost prohibitive (the complaint some have with the Web Money withdrawal method).  For example, the $500 threshold suggested repeatedly above makes $30 a 6% fee, and a $250 threshold makes $30 a 12% fee.  Additionally, the lower the threshold is made, the more manual work for MetaQuotes employees to submit the bank wire requests.

[Peter Olutayo Oladele]

Shalem Loritsch #:
Considering that the Wire Transfer fee is now $30 (it was $35 for the longest time—which is quite standard for wire transfers), there's absolutely no reason to reduce the bank transfer amount threshold to "$10 if possible $1"—you'll lose money on such a transaction!  Considering that the withdrawal methods that appear for me here have a 1.5-2.5% fee, I believe that reducing the bank transfer amount threshold from $3000 ($30 = 1% fee) to $2000 ($30 = 1.5% fee) or even $1000 ($30 = 3% fee) would be reasonable.  Much below that, the fee once again starts becoming cost prohibitive (the complaint some have with the Web Money withdrawal method).  For example, the $500 threshold suggested repeatedly above makes $30 a 6% fee, and a $250 threshold makes $30 a 12% fee.  Additionally, the lower the threshold is made, the more manual work for MetaQuotes employees to submit the bank wire requests.

Before PayPal was removed, charge to withdraw money is around 5%. 2% from mql5 to paypal and 3% from paypal to bank account.  a $1000 bank transfer minimum from mql5 is cheaper at $30 per withdrawal. that is just 3%.  mql5 should reduce it to $1000. 

[Thomas Bradley Butler]

Jacobie Nycambren Barksdale #:

Well, glad to see I'm not the only one but frustrated that it's not solved.. 

PayPal was the only option that worked for me as a US developer. US is blocked from WebMoney and it would take 1000 jobs (at minimum rate) to get $3000 USD to qualify for a bank transfer. But if I'm unable to withdraw even $500, how can I be sure that $3000 will even be received?

Is this the end of US developers freelancing for MQL5?

the end for many other people in different countries.  basically, many would just be doing this for free. 

[Jacobie Nycambren Barksdale]

Thomas Bradley Butler #:

the end for many other people in different countries.  basically, many would just be doing this for free. 

Yeah, it's time to take this to YouTube, Forex Factory, and some other outlets. This is just ridiculous and their silence is making it worse.

[Thomas Bradley Butler]

Jacobie Nycambren Barksdale #:

Yeah, it's time to take this to YouTube, Forex Factory, and some other outlets. This is just ridiculous and their silence is making it worse.

they don't care man. there are a million reviews and videos on their unethical practices

[Jacobie Nycambren Barksdale]

Thomas Bradley Butler #:

they don't care man. there are a million reviews and videos on their unethical practices

I couldn’t find anything on this particularly, and I actually had a hard time finding this specific forum too. Getting the word out and leaving is the only thing we can do it seems like. 

No shade against moderators either, but if you have direct access/contact with those in charge, please help us out.

[Shalem Loritsch]

Peter Olutayo Oladele #:

Before PayPal was removed, charge to withdraw money is around 5%. 2% from mql5 to paypal and 3% from paypal to bank account.  a $1000 bank transfer minimum from mql5 is cheaper at $30 per withdrawal. that is just 3%.  mql5 should reduce it to $1000. 

Interesting...  For me in the US, PayPal was a flat 2%.  There was no cost to transfer it to my bank in 1-3 days.

[Jefferson Judge Metha]

Let us sign a poll, and get paypal, back and ask for the introduction of 

Perfect money.

Payoneer

Airtm 

Crypto withdrawal

 

[Shalem Loritsch]

Speaking of a poll, I created a poll asking the community what they think an ideal minimum Bank Transfer withdrawal amount would be.  Feel free to vote there according to what would make the most sense in your situation!

https://www.mql5.com/en/forum/484845