look into difference between prices given by transfast and upwork. You beleive or not but upwork is involved in this whole snatching of our hard earned money.
Can you please answer this particular query of Syed? "Transferwise the last conversion rate they provided is $122 which sounds quite fair. How it can be possible if I get two transfers in a day with just two different payment providers in my same bank account and I am getting a difference of 12 PKR per 1usd in conversion rate? "
Yesterday, I needed to withdraw funds from my account and the Upwork was offering 117.9 PKR for 1$, whereas the exchange rate was 137. A whopping 20 PKR/dollar difference. This is serious negligence on the part of Upwork if freelancers are suffering. You need to tweak your banking/financial partners. Upwork must take responsible decisions to ensure that freelancers get the full value of their hard earned money.
I got some payment from google admob with exchange rate of 132 PKR last night. But the same time upwork is providing exchange rate of 127 PKR. You guys take 20% of the payment then deduct $.99 payment fees and then you cut a whole lot of money via conversion rates. This plateform is getting gready day by day. Elance was the best plateform before it got merged into Odesk.
I'm sorry to learn you feel this way, Awais.
Please know that the information that may be found online where the exchange rate you may be referring to is based on the wholesale inter bank rates and are commonly higher than actual rates banks can convert. Rates differ from bank to bank and foreign exchange processors, this is because it all depends on the current market. Note that the difference in exchange rates is not something Upwork can control as this is being supplied by the bank. Since rates constantly change throughout any given day, the rate you received is the rate offered by our bank at the time your specific transaction was processed.