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Don't you think Upwork service fees of 'wire transfer' (30 USD) is quite too much?

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Active Member
Solomon Van Tha Li T Member Since: Apr 14, 2018
1 of 8
I see four options in 'get paid' tab: paypal, payoneer, wire transfer (USD) and direct to US bank (USD). I am from Myanmar where paypal and payoneer are not accessible (as far as I am concerned). Obviously, I don't live in US, therefore 'direct to US bank' option is definitely not applicable for me. It leaves me 'wire transfer (USD)' option only. Upwork service fees for 'wire transfer' is 30 USD per payment which, personally, is a big issue. Due to 30 USD service fees, I cannot afford to withdraw the payment frequently. The longer I accumulate the payment, the better it is to cover the service fees. It is quite a challenging constraint for me.
 
In addition to that, I have to pay for 'tax' (non-US citizens), '10%-20% of my pay rate' and 'other bank fees' (including the fees of the receiving bank). You can see that before I actually earn for all of the jobs, I have quite a number of service fees to pay along the way. Although I know those are the terms of service, I hope that Upwork will reconsider the service fees for 'wire transfer' which is quite higher than I expected.
 
Here, I would like to know whether fellow freelancers agree with my feedback on Upwork service fees (for wire transfer). If you agree, how much should the service fees be? Personally, I think the service fees for 'wire transfer' should be around 5 USD - 10 USD.
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Petra R Member Since: Aug 3, 2011
2 of 8

Solomon Van Tha Li T wrote: Personally, I think the service fees for 'wire transfer' should be around 5 USD - 10 USD.

 Have you ever asked your bank how much they would charge you to wire money to another country?

And actually, because wire transfer sends US Dollars (and needs to be to a US Dollar account) the $ 30 are less than what you gain via exchange rate gains.

 

It's a bit like going into a car dealership and telling them that in your opinion the new Porsche should cost the same as the used Ford.

 

Banks charge money for international money transfers. Upwork just passes that cost on.

As far as I am aware Payoneer is available in your country, and might be a better option if you want to withdraw low amounts.

 

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Solomon Van Tha Li T Member Since: Apr 14, 2018
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Here in Myanmar, the local bank charges approximately 3.5 % of the total amount (depending on the amount of money transfer) for wire transfer. I am currently working with quite a number of language localization agencies. If the sending agency takes care of service fees of both sending and receiving banks, there is no bank service fees for me to cover.

 

The issue that I raised has nothing to do with exchange rate nor this particular point: "It's a bit like going into a car dealership and telling them that in your opinion the new Porsche should cost the same as the used Ford."

 

Now, it makes me wonder whether 30 USD already covers the sending bank's service fees or is it a separate service fees from Upwork. On the page, it said '30 USD per payment + other bank fees'. That is why I assume that it is a separate service fees from Upwork. If it is the case, it is a concern for me.

 

 

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Steven E. L Member Since: May 5, 2015
4 of 8

Wire tranfers from a bank cost $30 period. If I wanted to wire money across the street to pay for groceries or new furniture it's going to cost $30.

 

It doesn't have anything to do with Upwork or the recipients country of residence.

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Solomon Van Tha Li T Member Since: Apr 14, 2018
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So, does it mean 30 USD covers the service fees of sending bank? Then, may I know what it means by 'other bank fees'? The service fees of receiving bank? If it is the case, I can fully accept it since it is fair. It's just that I thought 30 USD is a separate service fees from Upwork.

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Petra R Member Since: Aug 3, 2011
6 of 8

Remember that you need a US Dollar account to receive US Dollar wire transfers.

You may well be aware of that, I just point it out in case you aren't aware.

 

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Solomon Van Tha Li T Member Since: Apr 14, 2018
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Of course, Miss Petra. Thank you for reminding me. I fully understand it. In fact, I have both dollar bank account and local currrency bank account, which I have been using for years. My feedback is solely on '30 USD service fees + other bank fees', for which I need more clarification.

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Wai Yan P Member Since: Feb 24, 2020
8 of 8

Hello brother.

 

My name is Wai Yan Phyo, a fellow burmese on upwork.

 

I saw your discussion and if you don't mind, I would like to get some tips and advices from you.

 

How was the wire transfer and how much was the fee per how much amount brother?

I am thinking to use CB Bank. Is that possible with CB Bank?

 

Thanks in advance

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