Depending on certain factors, transaction and/or exchange fees and rates could apply.
Here is a list of the provider fees that will be applied to your withdrawal, depending on what method you select (subject to change with our available processors):
- Local (for local banking networks available in certain countries): No provider fees
- SWIFT (for general cross-border/cross-currency transfers): $5.00
SWIFT offers the ability to withdraw in virtually almost any country/currency, but the fees are unpredictable as they can involve any number of intermediary banks while the payment is processing.
These fees may be deducted from the final received amount and Deel cannot control or predict them.
**There is a $25 USD fee for contractors in Ecuador to withdraw funds. Ecuador is a unique case because even though the currency is USD, there is not a local clearing system and the withdrawal is international.**
Wallets and Deel Card
- Coinbase: 1.5% (flat fee of $5 for USDC withdrawals under $300)
- PayPal: 2.5% (minimum $0.25)
- Payoneer: 1% (minimum $12)
- Revolut: $0
- Wise (formerly TransferWise): $0
- Deel Card: $0
What about Currency Exchange Fees and Rates?
If you are withdrawing in a currency that is not your contract currency, exchange fees and rates will apply.
These fees and rates will vary depending on available processors and foreign exchange market rates that could shift during the payment processing.
You do have the option of withdrawing your Deel balance in your contract currency so that exchange fees/rates will not be applied.
However, it's important to first check what currencies are accepted by your bank/wallet account. Otherwise, your bank or wallet provider may automatically exchange the payment into an acceptable currency for your account and apply their own exchange fees.
Note that the withdrawal of any currency into a cryptocurrency via Coinbase will always have an exchange fee (contract currency to BTC/ETH).
How do I know what fees/rates were applied?
Before you confirm your withdrawal, Deel will calculate and display our best-guess estimate of any applicable fees and exchange rates. You will see a pop-up on the right side of the screen before confirming.
Overall, these fees and rates could depend on a large variety of factors such as your payment method, contract currency, withdrawal currency, the country where your bank account is located, market exchange rates, and the availability of payment processors that Deel partners with.
Also, depending on the payment method, withdrawals can be either processed instantaneously (such as Coinbase) or take several days (such as SWIFT bank transfers).
Therefore, please note that exchange fees/rates can sometimes shift slightly from the time the withdrawal request is made to when the withdrawal is processed by our payment processor.
Important note on SWIFT payments:
- For SWIFT payments there could be a number of intermediary banks called by the SWIFT network, and each intermediary bank may deduct their own fees.
- Unfortunately, neither Deel nor the contractor's bank have control and visibility of these additional fees that may be deducted from the final received amount.