What charges will I have to bear?

Created by Arbaz Shighrekar (WFM), Modified on Wed, 18 Feb at 6:20 PM by Arbaz Shighrekar (WFM)

There are two types of charges involved:

Sending charges: Fully borne by Kolabtree
Receiving charges: A 2% forex conversion charge on each transfer you receive from Kolabtree

This 2% conversion fee replaces the higher conversion charges (typically 2.5%–4.5%) that may otherwise be applied by your bank.

Note: The 2% forex conversion charge is borne by the freelancer, along with any intermediary bank charges (if applicable).

Example: For a payment of $100 made by Kolabtree to a freelancer in the UK who has selected GBP as the preferred currency:

Kolabtree bears the sending charges
Payoneer deducts $2 (2%) as the conversion fee
The freelancer receives $98, which converts to £67.98
(based on a mid-market rate of $1 = £0.69)

Pricing and Fees

Items	Price	Unit	Details
General
Account Set up	Free	Per Account	One Time - when account is first set up
BANK TRANSFER FEES
Transfer to Bank account	Free for Freelancers (Borne by Kolabtree)	Per Transfer	Each time a Bank transfer is made
Conversion rate USD to local currency	2.00% of Total amount (To be borne by Freelancers)	Per Transfer	Each time a Bank transfer is made