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Re: Best way to withdraw money in India
Mar 22, 2016 01:08:01 PM Edited Mar 22, 2016 01:09:25 PM by Ashish K
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Mar 23, 2016 05:59:38 AM Edited Mar 23, 2016 07:55:06 AM by Sayon S
Hi Dnyaneshwar and all other members,
Thank you for replying, it was really useful and helpful message. It cleared many of my doubts, however I may have more queries as I am going to setup a payoneer account soon.
Also earlier someone suggested to use US payment service from Payoneer to help saving $2, did you tried that? How does it work and is this Upwork fee he is talking about?
Another iMPORTANT Query:
if anyone using Paypal to receive payment from Upwork, are you getting an extra 4.4%+30cents charge from Paypal? I got this charge from paypal when I tried to withdraw money from Upwork. Can any one please clear this?
Hope to hear your response.
Happy and Safe Holi to all,
Reagrds,
Sayon
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Mar 27, 2016 07:44:16 AM by Dnyaneshwar G
Hi Sayon,
If you withdraw earning through PayPal then PayPal will not charge you 4.4% charges. PayPal is charging this fees for Buyers and Invoice payments.
And you can not save $2 Upwork payment fees charges. Will suggest you to use Payoneer or Local Fund Transfer.
Thanks,
Dnyaneshwar Ganage
Dnyaneshwar Ganage
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Mar 22, 2016 07:49:56 PM by Ramesh K
Instead they do have local bank transfer option.
IMHO, it is much costlier than Upwork transfer. Because their currency conversion rates are too high apart from the 2% currency conversion rate.
And if you withdraw money to your local bank, there will not be any additional charges. It is same like paypal withdrawal.
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Feb 25, 2016 04:15:54 AM by Dnyaneshwar G
Dnyaneshwar Ganage
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Mar 22, 2016 01:08:01 PM Edited Mar 22, 2016 01:09:25 PM by Ashish K
Local fund transfer costs 2% exchange rate from mid market prices plus 1.99USD fixed. Beats paypal hands down.
Payoneer - I searched for 10 minutes couldnt find a reference to fees. I prefer staying away from such services.
Regards,
Ashish.
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Mar 22, 2016 08:03:28 PM by Soumi R
Hi All,
I just have checked and see that for Paypal fixed charge is $1, Pioneer $2 and Local Fund Transfer $1.99. The all claim almost same exchange rate.
I calculated for both after doing a search for all charges. see the image of excelsheet attached.
I believe the LFT is best here in oDesk/UpWork. I am using it only from India.
Thanks
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