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Best way to withdraw money in India

Active Member
Shubham Rajaram P Member Since: Jun 11, 2016
21 of 49

Any extra charges while using LFT by SBI bank?

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

Community Guru
Ashish K Member Since: Mar 1, 2016
22 of 49

@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.

Active Member
Sachin S Member Since: Jun 4, 2017
23 of 49
Thank you so much brother
Active Member
Tahir J Member Since: May 16, 2019
24 of 49
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.
Active Member
Dnyaneshwar G Member Since: Oct 21, 2015
25 of 49

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
Active Member
Pritam K Member Since: Nov 23, 2015
26 of 49

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

Active Member
Dnyaneshwar G Member Since: Oct 21, 2015
27 of 49

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
Ace Contributor
Brijraj S Member Since: Apr 9, 2015
28 of 49

Use U.S payment service from payoneer and save $2 as well. If you withdraw $100 from your upwork account you can get complete $100 into your Bank account and payoneer also provide one of the best exchange rate. i would say its the best.

 

Active Member
Sayon S Member Since: Mar 22, 2016
29 of 49

Hi Dnyaneshwar or to whom it may concern,

 

Thank you for your information but I still wanted to confirm about the charges. Can any bosy please answer below queries as it will help me to understand the charges to withdraw money from Upwork.

 

1. Any Indian user using Payoneer to withdraw funds from Upwork?

2. What are the actual charges you are getting from Payoneer to receive money from Upwork or to withdraw to local bank from Payoneer?

3. Is there any other charges you are getting from payoneer like activation, membership, maintenance etc?

4. Have you checked, if you are getting any charges from local bank to receive money from payoneer?

5. Do I need to take any special action or do any needful to avoid any unwantred charges from Payoneer or local bank?

 

It will be very helpful if any one can answer my queries properly. I look forward to hear real answers from experienced.

 

Thanks,

Sayon

Active Member
Dnyaneshwar G Member Since: Oct 21, 2015
30 of 49

Hi Sayon,

 

1. Any Indian user using Payoneer to withdraw funds from Upwork?

Ans - Am using Payoneer to withdraw funds from Upwork and am very much satisfied about it.

 

2. What are the actual charges you are getting from Payoneer to receive money from Upwork or to withdraw to local bank from Payoneer?

Ans - Payoneer charges is 2% for currency conversion and they give you mid market rate. 

 

3. Is there any other charges you are getting from payoneer like activation, membership, maintenance etc?

Ans - There is no charges like activation, membership or maintacnce.

 

4. Have you checked, if you are getting any charges from local bank to receive money from payoneer?

Ans - Payoneer transfer you payment in Indian currency so bank will not charge you anything.

 

5. Do I need to take any special action or do any needful to avoid any unwantred charges from Payoneer or local bank?

Ans - They dont have any hidden charge expect 2% conversion rate.

 

Yesterday, i was withdraw $45.62 through Payoneeer.. Check below trancation for reference. The best thing of payoneer is, you will get you payment within 24 hours.

 

Transfer Details:

Amount:$45.62
Bank Account:6710
Transfer Amount:2972.61 INR
Transfer Date:Mar 22 2016 3:01AM

 

I hope i have covered you all queries and now you are very much clear about it.

Thanks & Regards,
Dnyaneshwar Ganage
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