Short video by John Jonas advising against using PayPal for paying offshore staff (OFS) due to high and opaque fees (typically ~5–7%). Recommends using EasyPay via onlinejobs.ph (integration built with Payoneer) which charges a single 2% foreign-exchange fee, uses the real exchange rate, and delivers funds quickly (within ~24 hours).
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PayPal is usually a top of mind category, like for payments, because everybody knows PayPal. I actually really, really don't recommend it. And more and more I see people in the Philippines asking their employers, can you pay me some other way? Not through PayPal. PayPal's fees are really high and they're really good at hiding them. They don't, they don't actually show you what the fees are. You have to like send a payment and then compare it with another payment in order to figure out how much PayPal is actually sending. And their fees are usually like 5 to 7%. So it's, it's pretty high. And then in terms of payment suggestion, payment systems, I do recommend EasyPay is built into your online jobs ph account. We built it the way that we wanted it to work. We actually had to partner with payoneer to make it work. Payoneer has a couple other fees which we negotiated away. So if you're using easy pay through onlinejobs ph, the only thing there IS is a 2% foreign exchange that happens when they withdraw their money from their account. You're sending the actual exchange rate. We also force them to send the money really quickly. So your OFS should get it within 24.
