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bkaran
Community Member

Add business bank account

Hello,

I need to add my business bank account in my personal upwork profile to keep the consulting income separate. That is required when I have to file tax returns.

May I please know how that can be done?

Thanks in advance !
21 REPLIES 21
puda
Community Member

Interested as well! I am assuming that you are in Canada?


Are you using your name for your company or it's a separate entity? If it's a separate entity, then I don't know how it can work with Upwork since we use our legal name. The only thing might be to set up an agency profile? I have been trying to figure that one out but unsure if it's actually possible so I haven't incorporated at this point.

 

If other Canadians have set up their business through Upwork, can you guys let us know how you did?

bkaran
Community Member

Mine is separate entity as I’m planning to incorporate it in near future.

I have created agency as well but many clients don’t prefer agency so I have to work under my personal account for those clients.

If upwork allows adding a business account in personal profile then that will be very very helpful.
puda
Community Member

I don't know how that would work with the CRA since all your earnings would be under your name.  You can always add a different bank account (businesss one) on Upwork but it won't solve the name issue. If you are getting audited, having your name under your earnings on Upwork won't do. I have called the CRA about 2 months ago and they confirmed that NONE of my earnings can be under my name if I am incorporated.

wescowley
Community Member

I did this recently and it was pretty straightforward. 

 

Add your business bank account. You'll fail the name verification. Open a support ticket asking for a manual review and attach documents from the bank showing you're authorized on the account and business registration documents showing you own the business. If it all checks out, they'll do the verification deposits and you're good to go.

 

ETA: I should say, I'm in the States and the tax situation is probably a bit different.

AveryO
Community Manager
Community Manager

Hi Lisa, 

I'm not sure if you came across these help articles about Agencies on Upwork? Unfortunately, I don't have information on the nuances of other Canadian freelancers setting up their agency in Canada, but if you have any specific questions about setting up your agency, you can post it here, and I'll be happy to assist you. 


~ Avery
Upwork
AveryO
Community Manager
Community Manager

 Hi Balkaran, 


You can add your bank as a payment method on your freelancer profile by going to your Get Paid page (Settings > Get Paid). You can add the bank account at any time, and it will go through a three-day security period before you can use it to withraw your Upwork earnings. If your company's bank is named after the company, you may need to provide documentation as proof that you own the bank account, so it's best to have your documents ready.


~ Avery
Upwork
bkaran
Community Member

Thanks all for your response.
I found an article which explains the process.
https://support.upwork.com/hc/en-us/articles/211063768-Bank-Account-Under-Different-Name
firemoonstudio
Community Member

Hello Avery

 

I am unable to add My Current Bank Account

 

Today I have try to add my current bank account in my personal upwork profile to keep the consulting income separate. However its declined by saying name missmatch. Just saw a article on Upwork support that saying I have to provide related document of proof.

 

Can you please suggest where and how can I upload my required document.

 

Looking forward to you.

 

Many Thanks,

Vikram

Hi Vikram,

 

One of our team members will reach out to you via ticket as soon as possible and will assist you further with your payment method. Thank you.

~ Goran
Upwork

I need some information about local bank transfer currency options and i did not find the articles helpful. Where and how can i talk to a real person here?

g_vasilevski
Retired Team Member
Retired Team Member

Hi Ambria,

 

One of our team members will reach out to you via ticket as soon as possible and will assist you further with your questions. Thank you.

~ Goran
Upwork

Ok, Thank you Goran

laure-luinwe
Community Member

Hi!

I have a company with a partner. I wonder if is that possible to add this company account to my freelancer profile as a payment method? or do i have to own all the company by myself?

All the best

Orcun

Hi Orcun,

 

One of our team members will reach out to you via ticket as soon as possible and will assist you further with your payment method. Thank you.

~ Goran
Upwork
mahmoudhmostafa
Community Member

Hello, 

I wanted to ask about the same situation. I have a company with a partner, who is my wife. I wonder if it's possible to add this company account to my freelancer profile as a payment method? or do i have to own all the company by myself? Note that I don't work in a team, i am freelancing on my own, hence why i didn't think that opening an agency profile would be a suitable solution for me.
Thank you!

Hi Mahmoud,

 

Thank you for reaching out to us. You can use this bank account as long as you're name is listed as an account owner.

 

If you are going to use a company bank account — To complete verification you may need to provide personal identification as well as one of the following:

 

    • An original bank statement showing the company name, as well as your name
    • A business license showing your name and the company name
    • Articles of Incorporation showing the company name with you as an authorized agent/owner

You may read this help article for more information.


~ AJ
Upwork

Hi Annie,

 

I am in a similar position to the above freelancers. I am a freelance writer and have recently relocated to Montenegro. My mother has opened up a family business here, to which I am employed. My content writing services will be offered now from the business and I would like to channel the funds I earn as a freelancer on Upwork to our company account. However, the bank account will not be in my name, as I will merely be an agent that represents the company - the business account will be in my mother's name. Is there perhaps another way I could get verification for linking the company bank account to my upwork profile? If the bank account is in her name, would an official letter from her (as owner) stating that I am an employee and agent of the company be sufficient to channel funds to the company account, alongside proof that she owns the company and that I am employed there?

Kind Regards

Nina

Hi Nina, 

 

Thank you for reaching out to us. I would like to clarify that to set up payment, you must be listed as an account holder or authorized signer on the chosen account, or be able to demonstrate that you are authorized by the business to do so. The listed name on the account must match your verified name on Upwork. 

 

You can find more information in this help article

~ Nikola
Upwork

Hi! I just want to ask if that paper works as " A business license showing your name and the company name"

I will supply this paper with my name and my partner's name. Will it be enough?

111222333.jpg

gsb1
Community Member

Hello,

 

 I want to add company bank account in my freelancer profile. Can anyone please help me?

Looking forward for the kind response.

Thanks

laure-luinwe
Community Member

Hi! I just want to ask if that enclosed paper works as " A business license showing your name and the company name"

I will supply this paper with my name and my partner's name to add the company's account to my freelancer account as a payment method . Will it be enough?

111222333.jpg

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