Balance transferring rate

[kabirislam7]

Balance transferring rate in local currency is too less than existing rate. For example current rate of USD in BDT is 85 BDT (Bangladeshi Taka). But when I am going to transfer using direct local bank account then it shows 81 BDT which is 4 BDT less per USD, is that logical? or are there any way to get 85 BDT per USD?

[g_vasilevski · Accepted solution]

Hi Kabirul,

I understand your frustration with this, but 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.

[kabirislam7]

But I think there is contract between bank and upwork for such kind of currency transfer and upwork may have some influence on that process too, I mean financial benefit.

[rafiq_jsr]

As of today (12th of June, 22) USD to BDT exchange rate is 1 United States Dollar equals 93.65 Bangladeshi Taka.
But, I would like to know how much upwork is provided today?