Basic Understanding of Upwork Fees

[ff9bf741]

Hey guys, I want to know about all the fees that Upwork will charge. As far as I know right, the project fees is 10%. And the withdrawal fees for Wire Transfer is $30. Can someone help me lay all the fees that Upwork will charge based on an example I've given below?

The example is:

If I have a project that cost $10, and that project is already generated around $20,000.

So what I want to know is the exact calculation of everything from project fee, withdrawal fee etc.

The answer I'm looking for is:

[Example] Project Fee (10%) - Withdrawal Fee (Wire Transfer - $30/transaction) - ........

Thank you, fellow freelancers for answering this question.

[iwan-spillebeen · Accepted solution]

It depends largely on your payment method:

- Project fee: 10%

- Payment fee:

-- Direct to local bank transfer: 0.99 USD per withdrawal

-- Payoneer / PayPall: 2 USD per withdrawal

-- Wire transfer: 30 USD per withdrawal

-- Wire transfer to a US bank account: 0 USD per withdrawal

On top of this if you are converting to a local currency you need to cater for 2-4% conversion buffer (so minus 2 to 4% on the conversion rate per dollar).  For example, 1 USD = 34.43 THB right now, through UpWork this exchange rate is between 33.74 - 33.05. 

Do keep in mind that conversion buffers may vary per currency, and while you can view these as an expense, these are normal since there is a significant time delay between UpWork receiving the funds and paying out the funds.  Sometimes these work in your favour, sometimes against.

[ff9bf741]

I see, thank you for clarifying that to me. It's great to have a better understanding on how each and every systems work. Thank you once again, your explaination is really helping me. I'd appreciated it so much.