Actually i didn't start sending my fees via skrill yet; i am collecting some amount to minize the expanses of the transaction and also to open a dollar bank account first.
But to answer your question; No, i don't think that skrill exchange Dollars for Pounds as it is actually a service that you choose and be charged for.
I hope that i could have helped you.
Finally after a lot of research and a lot of trials through various methods; i can confirm that the Best way to receive payments in Egypt is the international wire tranfer; These are the steps that i followed:
- Search a bank with low fees charged to you; Like the National Bank of Egypt.
- Open an account in USD; that requires that you have 200$ in cash to open the account with and a Valid ID.
- After opening the account make sure to get the Bank Swift code and your bank account number before you leave the bank.
- You could also subscribe for the bank online service to be able to check your account details and transfers made to your account; while you are in the bank also.
- Make sure that your name on your bank account matchs your name on Upwork; if not request a name change from Upwork; and be prepared with their requested documents.
- You should save up on Upwork before you make the transfer to your bank account to minimize fees impact of your transfer.
here is the conclusion of my experience:
- The transfer were complete in only one day!
- With over 1000$ transfered the fees i was charged with was only 34$ !; That is including the 30$ Upwork transfer fee. which means that the intermediate banks only took 4$!.
I hope my experience could help you with your tranfers as well; Have a successfull careers fellow freelancers!
I asked the customer service of NBE and they confirmed that this can work for 1 to 3 transfers later they will stop receiving any transfers until you supply documents , Company Commercial Regaister and open new bank account for the company.
So if we managed to ask UpWork to use one of the ways provided in the URL we can manage to have our funds paid to PayPal smoothly.
Kindly can you clarify the error happening with Paypal for Egypt, I've made a Paypal account, verified it, added a mastercard, and about to transfer my money to it, so where exactly the obstacle happens please?
Sorry for the late reply.
I wasn't able to use Paypal for the following reasons:
- I must have had a credit card (not a debit card) active for over a year (country restrictions noy Paypal's); which i didn't.
- After transferring your earnings; you will have to wait a month.
- I wasn't sure if i could get my money in US dollars or just in EGP.
- when i calculated the fees; i found out that at a certain amount of earnings transferred. Paypal wasn't the most saving option; as it is calculated as a percentage and not a fixed amount.
- Also, I think that only one kind of credit cards were accepting transferring earnings to through paypal. (mastercard or visa; i am not sure)
Finally, I strongly recommed that you transfer a small amount first as a trial and see how everything will go. Losing an extra 2 dollar is much better than losing hundreds of dollars in failed transactions.
Hope i could have helped.
This is my experience in Paypal in Egypt.
1. You can only use a Visa card not a Master card.
2. The money can be sent from Upwork to Paypal right away.
3. The money can be transferred from Paypal to your Visa credit within 3-4 days and paypal charges $5 per transaction.
4. Now your money is in the credit card you can use it for purchases, or can withdraw it from ATM
The cons: this is a credit card so you have to pay the fees and the interest.
When you withdraw cash the bank also charges I guess LE 15 per cash withdrawl from a machine.
So I feel that I am losing a lot of money in the process.
I guess the best option is to wait until you have some money in your account like USD 400 or more than have a wire transfer to your account.
Hope this helped you!