Are there any fees charged for payouts?
Each payout method has different fees and currency conversion rates. We charge a withdrawal fee for PayPal, where Codementor incurs a charge. Other payout services may charge a fixed fee or a percentage after we make the transfer. The information below will help you understand how different payout methods work.
PayPal
Codementor charges a withdrawal fee to cover the fee PayPal charges us to make transfers. We deduct this fee from your payout amount before we transfer the funds to you.
- U.S. PayPal accounts will be charged $1 per transfer.
- Non-U.S. (international) PayPal accounts will be charged 2% per transfer, with a minimum fee of $1 and a maximum of $20 maximum.
Note: PayPal may charge additional fees when withdrawing funds or converting currencies. Please visit PayPal's fees page for more information.
Stripe
Codementor charges a 0.3% (minimum $1) withdrawal fee to cover the fee Stripe charges us to make transfers. We deduct this fee from your payout amount before we transfer the funds to you.
- Separately, Stripe charges a 1% currency conversion fee for Non-USD transactions.
- Please check with your bank to see if they charge a fee to receive payments from Stripe.
Note: To get more detailed information, please contact Stripe support.
Wise
Codementor does not charge a payout withdrawal fee for Wise transfers. Depending on your currency, Wise charges a fixed or percentage fee after we make the transfer.
For USD multi-currency accounts, Wise charges USD $0.39 per transfer. For example:
- We transfer the exact payout amount in USD to your Wise account (e.g. $100).
- Wise deducts USD $0.39 before adding to your Wise USD multi-currency account (e.g. $99.61).
For other currencies, please visit Wise's pricing page for an estimation of their fees. Wise uses mid-market conversion rates.
- Please choose "USD" as the starting currency, as we make all payouts in USD.
- To get accurate fees, you'll also need to choose "Wise account transfer" in the dropdown, as shown below.
