Discussion of article "Payments and payment methods" - page 96
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It’s a stupid decision because cards are not working in UK. Will end up removing my products from here.
The way things are now, it's not worth it to sell on the Market anymore.
The bank card option does not work at all, I've tried a hundred times, and bank withdrawal is not an option as $3000 minimum is a lot for me, and for many other sellers I'm sure.
That leaves Webmoney which is hella expensive to get my money out. With the 20-25% agent fees they charge its just not feasible. To exchange the WMZ to another currency or to exchange to PayPal or crypto is very expensive, and just not worth it.
First we need to pay the 20% commission to MQL5, then 2% to withdraw, and then pay a further 20-25% in agent fees on Webmoney so by the time we get our money in the end we have lost nearly 50%, its insane, ridiculous.
If they can't sort out the bank card withdrawal option or return PayPal, then it will not be worth it to continue selling here, and I'm sure many other sellers feel the same.
MQL5 needs to sort out their $#!t.
The way things are now, it's not worth it to sell on the Market anymore.
The bank card option does not work at all, I've tried a hundred times, and bank withdrawal is not an option as $3000 minimum is a lot for me, and for many other sellers I'm sure.
That leaves Webmoney which is hella expensive to get my money out. With the 20-25% agent fees they charge its just not feasible. To exchange the WMZ to another currency or to exchange to PayPal or crypto is very expensive, and just not worth it.
First we need to pay the 20% commission to MQL5, then 2% to withdraw, and then pay a further 20-25% in agent fees on Webmoney so by the time we get our money in the end we have lost nearly 50%, its insane, ridiculous.
If they can't sort out the bank card withdrawal option or return PayPal, then it will not be worth it to continue selling here, and I'm sure many other sellers feel the same.
MQL5 needs to sort out their $#!t.
If you know since you use it , does webmoney charge a fee for sending on chain usdt too ?
That's how all services work. Plus, you have to pay taxes. That's why I personally don't understand all your complaints. It's normal to pay a commission to the store. Yes, there's also a commission for withdrawals. Then, you transfer all the money to your bank account and pay taxes to your country. That's how business works—it's normal. I've never used PayPal; I always withdraw directly to a bank account. Everything works perfectly.
With all due respect, I think you're either being intellectually dishonest or you didn't understand his point at all. Yes, taxes and commissions are normal, but wire transfers aren't an option for sellers who don't have a high sales turnover like you seem to have. I'm sure most developers here fall into that category.
His point is that WebMoney is way more expensive than PayPal because when you withdraw from MQL5 to WebMoney, the USD converts to WMZ. Then, to actually use it, you need to convert WMZ to WMT with terrible fees, just in this step alone, you already lose somewhere between 15% and 25%.
After that, once you have WMT, you have two bad choices: either trade it via P2P, which is risky and costs another big chunk, or transfer it directly to your bank account, where WebMoney will charge a percentage plus a fixed WMT fee. So, compared to PayPal, it's ridiculously expensive. It seems like the whole WebMoney ecosystem is designed to eat away at your balance at every step.
Also, I find it odd that when a platform removes a payment processor, instead of pushing for better options and more withdrawal methods, some users just say things like “Yeah that's normal" or “Find a workaround”. It almost sounds like they're taking the platform's side for some unknown reason.
USDT is the digital equivalent of the us dollar in crypto and webmoney uses it to operate in certain regions if i understood correctly.
[if you use webmoney confirm this] so you could route to web money and then route to a tron wallet (hypothesis) and from the tron wallet to a crypto exchange.I know but webmoney is not allowed in US
It’s a stupid decision because cards are not working in UK. Will end up removing my products from here.
They will keep taking the 20% but wont give updated options for getting paid
That's how all services work. Plus, you have to pay taxes. That's why I personally don't understand all your complaints. It's normal to pay a commission to the store. Yes, there's also a commission for withdrawals. Then, you transfer all the money to your bank account and pay taxes to your country. That's how business works—it's normal. I've never used PayPal; I always withdraw directly to a bank account. Everything works perfectly.
but look at your sales. It could take a year or more from some to get to 3k.
It’s a stupid decision because cards are not working in UK. Will end up removing my products from here.
There are other places. I started putting mine elsewhere
With all due respect, I think you're either being intellectually dishonest or you didn't understand his point at all. Yes, taxes and commissions are normal, but wire transfers aren't an option for sellers who don't have a high sales turnover like you seem to have. I'm sure most developers here fall into that category.
His point is that WebMoney is way more expensive than PayPal because when you withdraw from MQL5 to WebMoney, the USD converts to WMZ. Then, to actually use it, you need to convert WMZ to WMT with terrible fees, just in this step alone, you already lose somewhere between 15% and 25%.
After that, once you have WMT, you have two bad choices: either trade it via P2P, which is risky and costs another big chunk, or transfer it directly to your bank account, where WebMoney will charge a percentage plus a fixed WMT fee. So, compared to PayPal, it's ridiculously expensive. It seems like the whole WebMoney ecosystem is designed to eat away at your balance at every step.
Also, I find it odd that when a platform removes a payment processor, instead of pushing for better options and more withdrawal methods, some users just say things like “Yeah that's normal" or “Find a workaround”. It almost sounds like they're taking the platform's side for some unknown reason.