I am a newbie and made my first withdrawal (yay!) from Upwork via Local Funds Transfer (my bank is BDO). I did that Saturday, Sept 10. I would like to know how long does it usually take for the funds to be credited to my bank account? Also, is there an addditional fee for LFT other than the $0.99 Upwork withdrawal fee?
Can I have your suggestions regarding the best way to withdraw my earnings from Upwork? I would definitely appreciate your inputs regarding the matter, especially the ones you had from your personal experience. Thank you!
Sarah B :-)
Solved! Go to Solution.
Hi Sarah Monique,
Generally LFT payments arrive to accounts in the Philippines within two to four business days.
Your bank may charge you an incoming remittance fee and you can contact them for more information about that.
Check out this help article for more information.
I have the same bank as well. My problem is that the payment method I have encoded was my ATM card number and not my bank account number. Is it okay? Should I contact the bank about this? Thank you. I hope I will get an answer.
Hi Arshelyn Jane,
This transaction will get rejected, and the money withdrawn will automatically go back to your Upwork account. Please add the correct bank details to your account, making sure that you add the account number.
Can you please guide me how to set payment preferences ? and is it important to fil W8BEN tax information as I am individual freelancer not a comapany. If yes please guide me with the process.
Looking forward to your kind reply.
You can set up your payment method by going to your Settings page > Get paid > and click on Add Payment Method. From there, you can choose which payment method best suits you.
To answer your next question, yes, it is important to file the W8BEN form. This form indicates that you are not a U.S. person, and will not be paying U.S. taxes. You should be able to complete it by adding your legal name, and your address.