Let's discuss about "Local Funds Transfer (LFT)" - Recommended option for Indians in India. Is it?

[Abdulrahman M]

Hello to You,

I am starting this post after facing occasional but repeatative issues regarding "Local Funds Transfer (LFT)" in which the amount earned in USD can be transferred in INR to the local Indian bank account with the least expense compared to other options viz. Paypal, Payoneer etc.

Humble request to you is to keep this post clean with "Local Funds Transfer (LFT)" related discussion only.

Thank you for your time to this post.

Regards,

Abdulrahman.

[Abdulrahman M]

To the Upwork team,

Please add the 'Bank's NEFT transaction number' or the 'Bank's Unique Transaction Reference number(UTR#)' to the 'Payment has been processed' email for every successful LFT payment request.

This will help us(Freelancers) to followup with our respective banks in case of delays of the transaction to reach our local bank accounts.

Fellow Freelancers - what do you think?

[Valeria K]

Hi Abdulrahman,

Thank you for your suggestion. We have forwarded it to the team for consideration.

[Abdulrahman M]

Thank you Valeria.
Your response is appreciable to this and every other needed post.

[Abdulrahman M]

Hello everyone here,

Are you guys getting paid or is it just me that is not getting paid my hard earned money via Upwork.com?

I have now 2 transactions that have crossed the date by which I was supposed to be paid.

Adding below the Upwork Refrence #'s and other details of the non-paid transactions:

1) #75115912 - Payment processed on: Jan 20, 2016 - Date to reach my bank a/c: Jan 25, 2016

2) #75720546 - Payment processed on: Jan 27, 2016 - Date to reach my bank a/c: Feb 01, 2016

*the local date and time of me writing this is: Feb 02, 2016 @ 03:31 hrs

[Vladimir G]

Hi Abdulrahman,

I see your Support ticket is pending your response so please continue working with our team and provide the requested document.

Thank you.

[Abdulrahman M]

Hello Vladimir,

Appreciate your response and have sent them the document that was requested for 1(one) transaction.

I wanted to ask you this - If there is a delay from my bank-A in receiving the funds, then how come the funds requested in bank-B are also delayed?

Doesn't this mean that the issue is not from my either bank but from the bank/company which has initiated the transaction?

What do you have to say on this?

[Gajendra D]

well, this is general time (4-5 days) I get money after withdrawal. 

[Ziaul H]

Hi Everyone,

It seems I am not the only one with issues regarding LFTs to India. Seems there is some problem somewhere in the payment processing system. It was working fine till the end of 2015.

I initiated a payment request using the LFT option on Feb 18th and it was supposed to reach my account on the 24th but it has not arrived till date. The transaction reference number was: 77856427

The "Payment resolution team" says that they have initiated a trace and it should take 2 to 4 weeks to find out what happened to the money. Still waiting .

I am not withdrawing funds till this gets resolved.

Ziaul Haque

[Bala V]

Hello Guys,

Thanks for posting this thread. I was about to raise my first invoice and withdraw it from upwork. Sofor we did the transactions thru elance. There was no such problem. 

I will wait till this issue resolves and this thread is updated with positive replies.

BV