Problem with exchange rate

[47a2e173]

Hello,you charged me in £ instead of $, and I got overcharged for £3 due to your disadvantageous exchange rate.

As per official exchange rate, I should have been charged £83.74 ($103 to £) however I was charged £86.48.

Can you please refund me the difference?

Thanks

[BojanS]

Hi Marco,

We understand your frustration. Unfortunately, the difference in exchange rates is not something Upwork can control. When a bank converts a transaction, they will mark up the interbank rate to buy or sell a currency. Online calculators will not take into consideration the mark up that is applied. 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.

As a client, you can opt to be charged in your local currency or USD when paying your freelancers on Upwork. Please see this article for more information.

Thank you!

[47a2e173]

Thanks,

I had chosen USD indeed at point of purchase, why was I charged in GBP?

Thanks,

[kochubei_valeria · Accepted solution]

Hi Marco,

We checked and it looks like the billing method was set to the default. Please, check this page for the information and feel free to click on the menu button, select edit and update the currency if you'd like. 

[b_wanzala]

Hello, How are you? I still have a similar problem, in the past three withdrawals, I have been withdrawing with 94.75 as the interest rate. But the current interest rate is close to 103.3 Kindly help me solve out and let me know if I shall be refunded the shortages. Thank you in advance

[g_vasilevski]

Hi Bruno,

Please keep in mind that the difference in exchange rates is not something Upwork can control. When a bank converts a transaction, they will mark up the interbank rate to buy or sell a currency. Online calculators will not take into consideration the mark up that is applied. 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. Thank you.

[b_wanzala]

Hello to you Govan I still believe there could be an issue because I have also tried to inquire the current exchange among my fellow colleagues for the Kenyan shilling is at 103.2 USD/KES. Kindly check if that is correct