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Re: Upwork giving a fraud conversion rate for local funds transfer to my bank

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Community Guru
Krisztina U Member Since: Aug 7, 2009
11 of 14

@Ela K wrote:

Krisztina,

 

Did you ever get an answer regarding your question pertaining to the below quoted section of the user agreement?

 

"If Freelancer elects disbursement in foreign currency, EEC will add Upwork's conversion fee of 1.5% to the spot rate quoted by its foreign exchange vendor and credit that amount to Upwork."

 

 


Hi Ela -- unfortunately I did not receive an answer. It seems that oDesk staff does not have a clear understanding of their own Terms and Conditions or User Agreement or access to oDesk's legal counsel that could help clarify.

 

But I do know for a fact that the money is not converted the day it's credited to the recipient, which is the half the point of doing a Local Funds Transfer (LFT), but the day it's processed by oDesk's bank.

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Community Guru
Ela K Member Since: Feb 9, 2015
12 of 14

Krisztina U wrote:

 

But I do know for a fact that the money is not converted the day it's credited to the recipient, which is the half the point of doing a Local Funds Transfer (LFT), but the day it's processed by oDesk's bank.


I know. 

Of course that is how it works - otherwise there wouldn't be a chance for Upwork to automatically deduct the 1.5% conversion fee...

Community Guru
Setu M Member Since: Jan 26, 2014
13 of 14
Your best option is to reopen the ticket and take it from there. That is not the method of payment I use, so I cannot comment further. But that is a large difference and fluctuation in rate, compared to what you had received previously.

Else you will have to find a more suitable method of being paid. But you need to find out why this was the case in the first place, so contact CS again.
---- easy like Sunday morning ----
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Community Guru
Setu M Member Since: Jan 26, 2014
14 of 14
You did not need to remove the entire post, just that particular statement. No one but Jean and myself will be able to comment on the original issue.
---- easy like Sunday morning ----
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