Viladmir, I got this but here is the problem with Upwork and intermediate bank why they add much markup in interbank rates? Skrill interbank rate was much better. Similarly other direct payment inter-bank markup with much less.
So, one side you saying only 0.99$ for Direct to Local bank and other side you and your interbank giving about 4%-5% less then market rate. Really sad.
At the end my bank also cutting some amount as service fee.
So here is my findings.
1. Its really hard to get job at Upwok in thousands of bidders.
2. If you get, then have to do job at low rates to compete
3. Give 20% to Upwok as serverice fee
4. At time of withdrawal again pay about 4-5% at name of inter-bank rates
5. Local bank will get service fee as well
6. You will get . . . . .
Desprete from using Upwork and thinking for some other platforms
Ok I just get an email from Upwork saying there is a new payment option available named "Direct to Local Bank".
Now my question: is it necessary that my local bank account name should 100% match with my Upwork name? I've never used this type of mayment method, that's why asking.
Please make sure you use your legal name in both your Upwork account and in your bank account. Certain variations are allowed but there might be a problem if a system detects a name mismatch.
I added the new payment method to account but the problem is everytime I click on info it shows me the details of wire tranfer where the charges are $30 for each transfer and the charges were advertised as $0.99 per transfer under the "direct to your local bank" so now I am confused and when I added the new method it added as "wire transfer". I have asked the Helpdesk about it but do you guys have any info on this ? has anyone tried it out yet ?
Thanks in advance,
I checked and believe the wrong Help article is linked on the Direct to Local Bank payment details page. I'll follow up with our team to confirm and have the link updated.
Thanks for flagging this discrepancy.
While I've been against most of the recent changes in Upwork, this expansion of direct to local bank method in more countries should be appreciated. If there are no differences in the incoming bank fees or how the exchanging rates are calculated as compared to wire transfer, this new method would be the most preferred choice for my withdrawals. Easily!
One issue I'm having at the moment if it matters at all is the branch number of the local bank doesn't get saved. Every time I go back to the edit screen the field is blanked. Also I noticed there is no such a field for the branch number in my wire transfer record of the same bank account (which was I've been using for withdrawals successfully), and both records have the details of the head office branch as the bank name and address. So I hope since I've the correct account number the bank system would handle the branch details by itself just like how the wire transfer is working.
I miss the logic here too. Me too had problem with skrill. I had to wait weeks for my money once, but in the end I got all of it. Yes, it was uncomfortable, especially when I thought I will never see the money, but that did not happen.
Their support might not be the best, though when I was abroad and asked them to increase my withdrawal limit urgently via email they did that within few minutes! Anyway, my point is they provide an useful alternative payment method and their card is a great and unique asset. I just do not get it, why they need to be removed when a lot of freelancer still like to use them.
Ask who does not want them and hide the option only for them, but let the rest of us use it as before. Let us decide what we would like to use.