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Best way to withdraw money in India

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Active Member
Arpana S Member Since: May 14, 2016
21 of 52

Hi,  I want to understand what does  "$1.99 per withdrawal to India" means under Local Funds Transfer (INR)? Does it mean that every time the money is transferred to my Indian bank account, $1.99 will be deducted? If i register with my local Indian bank under Local Funds Transfer how the payment process works? I would appreciate, if you could answer this question.

 

Thanks.

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Moderator
Vladimir G Moderator Member Since: Oct 31, 2014
22 of 52

Hi Arpana,

 

Yes, that is correct. You can find more information about adding and using a Local Fund Transfer payment option in this Help article and video.

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Active Member
Shubham Rajaram P Member Since: Jun 11, 2016
23 of 52

Any extra charges while using LFT by SBI bank?

What if my address in bank passbook and that on upwork are different?

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Community Guru
Ashish K Member Since: Mar 1, 2016
24 of 52

@Shubham P wrote:

Any extra charges while using LFT by SBI bank?

What if my address in bank passbook and that on upwork are different?


The last leg in LFT is NEFT to your account. So no charges from SBI are applicable. As far as I know, if Upwork has verified your account, address shouldnt be an issue. NEFT doesnt look at address. Only account number and IFSC code of the branch.

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Sachin S Member Since: Jun 4, 2017
25 of 52
Thank you so much brother
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Tahir J Member Since: May 16, 2019
26 of 52
Thank you for sharing this.

I have a question that if I receive my money through LFT then what charges I have to incur from my bank (not from UPWORK). waiting for your reply.
Thank you.
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Active Member
Divyendra S Member Since: Jun 26, 2020
27 of 52

brother i have sbi bank account so do I have to anything extra to get  money from upwork I mean do I have to initiate any international banking thing from my local bank 

 

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Active Member
Dnyaneshwar G Member Since: Oct 21, 2015
28 of 52

Hi Soumi, 

 

Am using Payoneer for withdraw payment from Upwork. Payoneer charging me 2% for currency conversion. There is no other charges.

 

if we withdraw 100$ from Upwork then Upwork charge us for 2$ for widthdraw process. The best thing of Payoneer is they give us best currency rate. i got around 65.60 to 65.70 currency rate from them.

 

i think you should have to try it once. Will stronly suggest you to try it.

 

Thank you.

Thanks & Regards,
Dnyaneshwar Ganage
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Active Member
Pritam K Member Since: Nov 23, 2015
29 of 52

Hello my all Indian freelancer Friend,


I'm already apply for Payonner Prepaid International master card.....
After live chat with Payoneer ...
They Answered that they cannot give The Payoneer Prepaid International Master Card to any Indian residents...
Hello Indian freelancer didnot apply for this Payoneer Prepaid International Master Card.


With regards
pritam

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Active Member
Dnyaneshwar G Member Since: Oct 21, 2015
30 of 52

Hi Pritam,

 

Payoneer Card is no logner avaliable in India now. They introduced new way to get paid for Indian clients. They are now transferring payment to directly our bank account like PayPal.

 

In Payoneer FAQ they mentioned about it -

 

"How has the Payoneer product changed for Indian customers?

We are now delighted to be offering our Indian customers a payment service that does not require a prepaid card. This new service automatically transfers any balance to your local bank account in INR on a daily basis (This transfer may result in a landing fee charged by your bank)."

 

For more details visit - http://www.payoneer.com/india/FAQs.aspx

 

Thank you

Thanks & Regards,
Dnyaneshwar Ganage
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