Exchange Rate

[786khan]

Hi,

Current USD in INR is 73.55. But when i am transferring my all income into bank it showing 

71.8600 USD/INR  and upwork already taking $0.99 fee of txn. So my query is why upwork is taking exchange rate 71.86 instead of 73.55. I am transferring $1000 and upwork income 1690 INR it's too much. I already paid 20% upwork fee, 1% WHT. Yesterday one of my friend received money from Payoneer and the exchange rate was 72.33 $/INR.

Total Loss:
20% = $200

1%    =  $10

$0.99=$0.99 

1690= $22.97

total = $331.97  What the **bleep**!

[g_vasilevski]

Hi Malik,

Please keep in mind that the difference in exchange rates is not something Upwork can control. When a bank converts a transaction, they will mark up the interbank rate to buy or sell a currency. Online calculators will not take into consideration the mark up that is applied. 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. Thank you.

[786khan]

Ok, why Payoneer taking less exchange rate than upwork in same bank? Look this exchange rate of my colleague.

**Edited for Community Guidelines**

[g_vasilevski]

Hi Malik,

I understand your frustration with this and I can suggest exploring our other available payment methods and to choose the one that is the best fit for your needs. To learn more about our available payment methods, check out this Help Article. Thank you.