Minimum cashout: $10 (Free)
Fees per cashout: 2.90 % + $0.30 USD
Withdrawal to bank account: 60 INR (fixed per withdrawal)
USD to INR Conversion fee (Foreign Exchange): 2.50%
Case study 1: Cashout amount is $10
The amount you will receive to your Payza account: $9.41 (After deducting the 2.90 % + $0.30 USD fee per cashout)
Balance available in your Payza account will be $9.41 and when you withdraw this amount to bank account, Payza will charge a 2.5% conversion fee for converting USD to INR on the mid-market rates.
So, on 20th February 2017, 1 US Dollar equals 66.95 Indian Rupee. That means you will receive 65.28 INR against USD after deducting the 2.5% conversion fee which is 1.67 INR in this case.
The total amount you will receive to your bank account here will be 9.41*65.28-(60)= 554.28 INR (After deducting the 60 INR fees charged by Payza for bank withdrawal.
Comparing this amount ($10) with PayPal we would have got 633.17 (See above for calculation of PayPal fee and conversion charges). Therefore the loss here for withdrawing $10 from Cinchbucks using Payza against PayPal is 633.17-554.28= 78.89 INR.
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