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Pakistan beta - $4.99, direct withdrawal method!

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Employee
Jacqueline P Employee Member Since: Jan 7, 2008
1 of 117
[UPDATE: the free first payment promotion that was part of launching this new payment method is no longer available. Sorry!] ======================================================================================

Love the convenience of wire transfers, but not the price? Starting today, oDesk is offering a new (beta) transfer option in Pakistani Rupees (PKR) for just $4.99 per withdrawal.

We know accessing your earnings is often the hardest part of working remotely. So oDesk has built a local currency option to give you a direct and affordable way to access your hard-earned money.

Join the beta program today and the first withdrawal is FREE!

Convenient

  • Transfer directly in Rupees
  • 1-step to transfer funds into your bank, no other account set ups
  • No intermediary bank required

Affordable

  • Just $4.99 per withdrawal into Rupees
  • Reduced or eliminated incoming bank fees
  • Competitive currency exchange rate

Reliable and safe

  • No 3rd party payment providers involved to restrict your account, delay your payment, or add fees
  • Direct oDesk Customer Support

Learn more about Wire Transfer in PKR.

Important Limitation: At present, only the following banks are eligible to receive funds electronically through the local clearing system in PKR. These are the only banks eligible for the new $4.99 withdrawals.

  • Habib Bank Ltd.
  • National Bank of Pakistan
  • United Bank Ltd.
  • MCB Bank Ltd.
  • Allied Bank Ltd.
  • Bank al Falah Ltd.
  • Habib Metropolitan Bank Ltd.
  • Bank of Punjab Ltd.
  • KASB Bank Ltd.
  • JS Bank Ltd.
  • Dubai Islamic Bank Ltd.

[Change: July 21, 2011] Bank accounts must be in your own name. Learn more.

Ace Contributor
Waqas T Member Since: Feb 7, 2011
2 of 117
Glad to hear the news!!! My bank (Standard Chartered Bank) is not in the list though Smiley Sad Can you please add SCB to the list???
Active Member
Sohail A Member Since: May 9, 2008
3 of 117
First of all it is a great move from ODesk and I really appreciate it and I believe so many others will as well. Just wanted to know a few things. 1. $1.99 for India and $4.99 for Pakistan. I know there must be a reason behind this but it would be great to find it out. 2. What would be the dollar exchange rate method applied by ODesk? Can we find a link for day to day dollar exchange rates before making a decision whether this method goes cheaper as compared to Payoneer or not? 3. What is the status of banks like Standard Chartered, Faysal Bank, CitiBank and why these banks are not eligible. I wonder what is the eligibility criteria used here and I would appreciate if you can share some further information on that. 4. How much time would it take? Once again, a great move and I am really happy and I am sure over the time I will find it worth trying. Best Wishes Sohail
Active Member
Michael T Member Since: Oct 12, 2010
4 of 117
The local bank to bank payment system in Pakistan enables one bank to electronically transfer funds directly to another bank in the country. Unfortunately, at this time, not all banks are able to do this in a completely electronic manner. We have confirmed that these 11 banks are able to transfer funds amongst each other electronically. Other banks can still receive funds, however the process involves a number of manual steps and couriers which may delay (materially in some cases) the credit to your account, as well as add to the cost of your payment. As a result, we would be unable to provide any guidance as to how long it might take or the total cost for you to receive your money. We did not believe that such uncertainty would be in the best interests of our contractors. We do expect additional banks to upgrade soon, and we will make our best efforts to make those banks available for this service in a timely manner. Please do not hesitate to comment further on this topic as our goal is to provide as much coverage as possible to all Pakistani contractors. With that understanding, if there is a bank that you believe should be on this list that is not, please let us know. Mike Ting
Ace Contributor
Waqas T Member Since: Feb 7, 2011
5 of 117
Hi Mike, Standard Chartered is one of the pioneer's in Pakistan for online banking and "Inter Bank Funds Transfer" as well has dedicated SWIFT codes (one code works for all branches). I am surprised not to see SCB in the list.
Ace Contributor
NAYAB N Member Since: Oct 1, 2010
6 of 117
Bro, in the past you see that standard chartered have severe conflicts with moneybookers and the result we all have to face the music. Payment bounce and delays occurs when moneybookers and standard chartered have issues. Now if you see, I am using Habib Bank as my primary bank there is no problem what so ever in receiving foreign remittances in my habib bank account and now oDesk offered low cost wire transfers we all have to thank oDesk for this great favour and continue to add wire methods in just 4.99$ only. I suggest you to open an account with Habib Bank. I bet you will not face any issues with Habib Bank or UBL. Nayab
Ace Contributor
Waqas T Member Since: Feb 7, 2011
7 of 117
Bro that conflict WAS becouse of the rules of the Govt of Pakistan, with Moneybookers you could access gambling/adult sites and that is not allowed according to the LAW so that is why the "severe conflicts"... it is resolved now and that is DUE to moneybookers changing its policy for Pakistan, now NO ONE from Pakistan is allowed to send/receive money from gambling/adult sites through moneybookers, please have a background on things before you post. $4.99 is STILL expensive considering using moneybookers to SCB costs me $4.5 and the extra hassel to open a bank account in another back which I am not willing to do.
Ace Contributor
NAYAB N Member Since: Oct 1, 2010
8 of 117
[quote=waqas82]Bro that conflict WAS becouse of the rules of the Govt of Pakistan, with Moneybookers you could access gambling/adult sites and that is not allowed according to the LAW so that is why the "severe conflicts"... it is resolved now and that is DUE to moneybookers changing its policy for Pakistan, now NO ONE from Pakistan is allowed to send/receive money from gambling/adult sites through moneybookers, please have a background on things before you post. $4.99 is STILL expensive considering using moneybookers to SCB costs me $4.5 and the extra hassel to open a bank account in another back which I am not willing to do.[/quote] I was unaware regarding the conflict reason, now that I am aware. Let us hope that oDesk will add SCB to the list.
Active Member
Abdul W Member Since: Aug 3, 2009
9 of 117
First thing> SCB and Moneybookers conflict was not because of our Government. There was the reason between commerz bank and SCB. I face that issue and contact my cuzen in Europe who is using it and he told me about that conflict. Second Thing> I am using Moneybookers from 2009 since that time I always unable to use my Bookers account even for any dating site and you are talking about Adult/porn etc. Third thing> I withdraw my money to Hbl and it now days it costs from $2.50 to $2.55. Varies time to time and same with SCB. Last thing to oDesk> I did not understand following thing. $1.99 for Indian contractors and $4.99 for Pakistani Contractors. Please describe the reason and give any source which supports that reason. Because according to my knowledge Difference should not exceeds from $0.50 to $0.60. normally wire transfer takes 2-5 business days. But I got in 3 business days and some times in 2 business days. So what will be oDesk's time line? Please correct me If you find any thing wrong in my post. Thanks
Active Member
Michael T Member Since: Oct 12, 2010
10 of 117
While it is technically possible to send low value payments to banks like SCB, it can potentially take longer than the standard 2-3 days because there are more manual steps involved. Also, depending on your branch location, there may be courier services involved to complete your payment to one of these banks, which could potentially add to the cost and timeline. As for the fee differences, each country has a different payment system and cost structure. Countries like India, for example, have more advanced payment systems, resulting in a lower cost to transfer funds. Finally, as for the timeline, we expect your funds to be credited to you in 2-3 business days. Please note that if you provide inaccurate account information, or your branch address is inaccurate, your payment may be delayed. So please check your account data carefully to ensure that oDesk has the correct information. Mike Ting
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