Starting in April, we will be expanding Direct to Local Bank withdrawals to several additional countries. Freelancers located in these countries will now be able to utilize DLB as a withdrawal option to transfer funds in their local currency directly to their bank. For many, this could be the least expensive way to get paid because the cost per payment is only $0.99. Since the transfer is done using each country’s local network, incoming bank fees are usually reduced or eliminated.
New countries added:
Previously, because DLB wasn’t available in these countries, they were given a reduced rate on Payoneer and PayPal withdrawals. Since we are now able to offer this new, low-cost option, we are also updating the fees for e-wallet style payments in these countries. As of April 6th, 2020, PayPal and Payoneer withdrawal fees will increase from $1.00 USD to $2.00 USD per withdrawal, which is the same fee other freelancers pay who have the same payment options.
If you want to see what payment options are available to you today, click “Add a Payment Method” in the “Get Paid” section of your Upwork account (under “Settings”). For more information on Direct to Local Bank withdrawals see this help article.
Thank you for what you gave us. Thank you for facilitating the completion of our affairs. Thank you for adding the option of withdrawing money to a local bank account. You are really a respectable management. Very grateful to you.
This news made me very happy that many freelancers can now withdraw money to a local bank account by April
Good news, thank you Upwork team
But, i have a concern, the bad thing about withdrawing money from Upwork to local banks directly is the very low exchange rate they use, for example i'm from Morocco, 1 USD now is 10.14 MAD (source xe.com), but Upwork exchange rate is very low 1 USD = around 9.30 MAD. That's why i prefer to send my money to Payoneer for 2$ then send to my Local Bank that is linked to my Payoneer Card because the exchange rates are reasonable and always better than Upwork.
PS: I know Upwork uses a third party company to send money to local banks, i hope Upwork team willre-negotiate the deal with them for more reasonable exchange rates, right now that company is gaining too much money from low exchange rates.
As of now, I do not have any information if Georgia will be added in the future. If ever this becomes available, we'll make sure to share it with the Community.
Thanks for your feedback, Sarah. Upwork team is continuously working to provide freelancers with more secure and efficient ways to access their earnings. If more payment methods become available in more locations, we'll definitely let the Community know.
Thanks for reaching out to us. When a bank converts a transaction, they will mark up the interbank rate to buy or sell a currency. Since rates constantly change throughout any given day, the rate you received is the rate offered by our bank at the time your specific transaction was processed. Regarding the limit for transactions, along with the fees and timings, you can check this help article for more information.