In part one of this post, I listed three online payment services that work in Egypt. I compared between the them to see which one suits my needs. The scenario I'm using is when a user is paying me money using his/her own credit card. You can see the comparison in the table below. The values in the table can be used only for reference because different options are available in each site with different fees.
Account setup fee | $49 * | - | - |
Monthly fee | - | - | $19.99 ** |
Fixed transaction fee | $0.45 *** | $0.25 *** | $0.35 *** |
% transaction fee | 5.5% *** | 4.9% *** | 3.9% *** |
Currency exchange fee | - | 2.5% | - |
Withdrawal fees | Wire $10 Check $4 | Wire $15 Check $4 Credit Card $5 | Wire €1.8 ~ $2.7 |
Users paying money need to sign in | No | Yes | No |
* Sign up is free but account setup fee is to be paid before transactions are made.
** Only if you use website payment gateway; using payment to email address is free.
*** Default fee; fee actually varies according to account type and/or website content.
Here is a quick example of what your account will be credited if you receive a payment of $10 and $100, assuming the following:
1- Setup and monthly fees are excluded
2- Default transaction fees are applied
3- Money is kept in your online account and not yet withdrawn to bank account
$10 | $9.00 | $9.26 | $9.26 |
$100 | $94.05 | $94.85 | $95.75 |
1 comment:
Thanks a lot, you were very helpful with your analytic description and examples.
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