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A Few Points Requiring Clarification?

Community Leader
Karen T Member Since: Jul 14, 2015
1 of 9

How do we view clients previous feedback?

We are charged 10% of our earnings?

We are charged an additional $1 to withdraw from Paypal?

We are charged Paypal withdrawal fees?

We will be charged 2.5% by Paypal for currency conversions?

We will be charged withdrawal fees by Paypal?

Upwork recommend we change our PP account to dollars - Why? This is totally useless to freelancers working in other currencies?

 

Are there any other additional costs/delays in payments incurred in working through Upwork comparative to Elance?

 

Thank you.

 

Community Leader
Scott E Member Since: Feb 24, 2015
2 of 9

"Upwork recommend we change our PP account to dollars - Why? This is totally useless to freelancers working in other currencies?"

 

That's good advice. If you withdraw $100 then (minus fees) you'll get $100 in your Paypal account. You can then convert the $100 to the currency of your choice at a time when you feel the conversion rate is the most favourable. 

 

You don't have to have a dollar account, but if you don't then it will be converted automatically at the current rate when it hits your Paypal account. 

 

Also, if you buy a lot of stuff from US sites, or international sites that accept US dollars, then you're not converting to Euros and losing a bit in the process... and then converting back from Euros to dollars and losing a bit more again. 

Community Leader
Michael R Member Since: May 18, 2015
3 of 9

@Scott E wrote:

 

You don't have to have a dollar account, but if you don't then it will be converted automatically at the current rate when it hits your Paypal account. 

 


That's not true. My PayPal account is a euro account, and if I receive a payment in USD the amounts in euro and the USD are listed separately. It's even not possible to use the dollars for a payment in euro, before they are converted. So it's up to the account holder to convert the USD in euro when he need it or when he can convert at the best rate.

 

If you use a Skrill account in euro, the USD will be converted automaticly in the account currency when they hit the account.

Community Guru
Preston H Member Since: Nov 24, 2014
4 of 9
Just to be clear about something. It is possible to withdraw money with zero fees, at least for some people. I live in the U.S. and pay zero fees to withdraw money to my bank account.

It is possible for non-U.S. Citizens and non-residents to legally have American bank accounts, but the mechanics for doing so are beyond the scope of this post and are not provided on Upwork.
Community Guru
Abdul R Member Since: Dec 4, 2014
5 of 9

Thanks Preston,

 

It's great idea for the non- US citizens. It can be possible. We have no paypal in our country as well. 

Community Leader
Scott E Member Since: Feb 24, 2015
6 of 9

"...if I receive a payment in USD the amounts in euro and the USD are listed separately."

 

Then you've got a dollar account! 

Community Guru
Preston H Member Since: Nov 24, 2014
7 of 9

I don't want you to think it is super-easy for everybody to have a U.S. bank account (and thus get money withdrawn without fees), but it is a lot easier than it used to be. This is the age of the Internet, after all. It took me 15 seconds to do a google search and find this:

 

"Remote account opening... enjoy the convenience of establishing your [PROMINENT BANK NAME] relationship remotely and prior to your new assignment. A social security number is not required to open accounts for non U.S. Citizens or non U.S. Residents."

 

Upwork requires that all contractors accurately identify where they live. You must have the same name on your Upwork account that you have on your bank account. But Upwork has no requirements that you use a bank whose headquarters are in the same country that you live in.

Community Guru
Ela K Member Since: Feb 9, 2015
8 of 9

@Michael R wrote:

 It's even not possible to use the dollars for a payment in euro, before they are converted. 


 I agree with everything you wrote but this bit. 

 

My account is also a €-account and always has been (I'm in Germany). But I sometimes do use the $ to pay for stuff, just did it 2 weeks ago. I can select whether I want to use any of my credit (either € or $) to pay for things. Or have it deducted form my bank account or registered credit card.

 

@ Preston: it would make absolutely no sense for me to have a US bank account (I had one when I lived there) as there will always be fees associated with transferring money. I recently lived in the UK and my bank would charge a minimum of £ 25 for an international bank transfer, regardless of the amount. Unless I transferred € (accepted their abysmal exchange rate), then it would be £ 15.

Community Leader
Michael R Member Since: May 18, 2015
9 of 9

@Ela K wrote:

@Michael R wrote:

 It's even not possible to use the dollars for a payment in euro, before they are converted. 


 I agree with everything you wrote but this bit. 

 

My account is also a €-account and always has been (I'm in Germany). But I sometimes do use the $ to pay for stuff, just did it 2 weeks ago. I can select whether I want to use any of my credit (either € or $) to pay for things. Or have it deducted form my bank account or registered credit card.

 

 

Well, I tried just once a payment with the dollar balance some time ago, and this was denied. Since then I convert dollars to euro and transfer it to my Spanish bank account. Since there is no fee for a local bank transfer, I think this is the cheapest and most convenient way.

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