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novoadi
Community Member

Automatic money exchange

In the past when I sent money to my account, I was able to negotiate the exchange rate with my bank. But this time I withdraw $ 20,000 and the money went directly to my local bank account Without any negotiation. They changed the dollar to around 3,650 when the dollar of the day was 3839. I lost more than 800 dollars in this transaction, for not negotiating the exchange rate with my bank...

In January of this year, when it was the last time I withdrew money from Upwork, I could negotiate the dollar exchange rate with my bank, but this time the rate was directly converted by Upwork and it made me lose a lot of money. Please take the time to write something original and not an automatic response. Thank you.

 

1 REPLY 1
petra_r
Community Member


Orlando N wrote:

In the past when I sent money to my account, I was able to negotiate the exchange rate with my bank. But this time I withdraw $ 20,000 and the money went directly to my local bank account Without any negotiation.

 


If you withdraw via wire transfer, you can negotiate the rate because the money arrives in US Dollars.

If you withdraw "direct to local bank" it arrives in local currency and has done as long as I can think back.

 

In future, withdraw via wire transfer. Yes, it costs $ 30, but as you noticed, you have control over conversion fees.

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