How to estimate what you will receive in your currency per lesson
On LanguaTalk, you set your rate per 55-minute lesson in USD. This rate is for single lesson purchases. It is discounted for volume purchases: 5 lessons = 4%; 10 lessons = 8%; 20 lessons = 12%.
Let's say someone buys a pack of five, 55-minute lessons, then they take one, and you need to calculate how much you'll receive for that lesson in your bank account. Let's say your rate is $15.
There is the 4% discount due to it being from a 5-lesson pack. Then, assuming you do not live in the US, remove 2.5%, which is the cost of transferring funds to your bank account in another currency.
To remove the 4% and the 2.5%, put this into Google: 15*0.96*0.975. The answer is $14.04. To calculate what you'd receive before currency conversion, replace 15 with your rate.
The exchange rate used will be determined on the day payment is sent. You can estimate the amount you're likely to receive by searching in Google. For example, if your bank is in Euros, enter: '14.04 usd in euros'.
Note, if you were giving 30-minute lessons instead, the cost would be 68% of your 55-minute lessons, so you'd simply multiply the figure above by 0.68.
If you've given some lessons and you're looking at Recent Lessons on the Payments tab, wondering what you'll receive in your bank account for a lesson:
If you're not based in the US, the cost of sending payment and converting to your currency at an accurate exchange rate is 2.5%. So simply multiply the amount shown by 0.975. Then convert that USD amount to your currency by searching e.g. '20 usd in euros'.
If you're based in the US, it's 1.5%, so multiply the lesson amount by 0.985.
On a related note, if you want to also calculate the price students will see based on the rate you set:
The easiest way to do this is to simply go to your profile (Settings > My Profile, click the red button).
We show prices in different currencies based on where the user is located. If the currency you see is not the one that your student sees, you can convert it easily. For example, if you see Euros and they see AUD, take the price you see in EUR and put into Google e.g. '18 EUR in AUD'.
If you want to know the price for 30-minute lessons, they're 68% of your 55-minute prices, so multiply by 0.68.
We try to be as transparent as possible, so unlike on other sites, the payment processing fees are included in the prices shown, rather than added on at checkout.
Hope that helps you understand how it works! If you have any questions or issues, please do get in touch. 😊