Getting Payed Upwork-Paypal-Tranferwise

[michalistomazos]

Hi to everyone! I have used payonner for a long time to get payed via upwork but I want to search for other methods beacuse I am from europe and Payoneer dont convert the money to local currency! I came acroos tranferwise but I found out it is not suppored in upwork.

In the trasferwise webiste I saw this:

"To avoid losing money on poor exchange rate, you can set PayPal as your preferred payment method and once the funds are available in your PayPal account, withdraw the same currency to 

**Edited for Community Guidelines**. It's free to receive the payment and there’s no exchange rate mark-up for conversions to USD. Only a small and upfront fee. Check out **Edited for Community Guidelines** to see how much you can save on fees."

I understand that you get payed from upwork to paypal and then tranfer the money to tranferwise which also gives you a debit card.

Anyone in europe tried this method??

[NikolaS]

Hi Michalis,

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.

[michalistomazos]

Yes offcourse I understand that. I am just asking if some other freelancer have used the method tranferwise is advertising via paypal. If it works and if it's cheaper because in the end we freelancers outside the us have to pay to convert to our currency.

[abinadab-agbo]

So you want to transfer from Upwork -> Paypal -> Transferwise -> Local Bank ?

An outrageous amount of your money will be lost along the way.

Does Transferwise offer you a USD receiving account from where you are? If yes, then add it to Upwork under ACH withdrawal. Then withdraw to the ACH and from there to home.

If not, then consider using your Payoneer card (slightly more expensive) to transfer your monies using Transferwise to local bank.

[michalistomazos]

Well almost that but not the last step to local bank as transferwise gives a debit card which I can use in my local currency.
Yes I think transferwise gives a US receive account but I saw a thread which said that upwork does not support tranferwise. Is it not against the upwork terms as a European to withdraw with ACH to trasferwise?

[abinadab-agbo]

It is not against the terms. You can add ACH to your account now if you wished.

Also, be sure to look up the fine print of the Transferwise debit card.

From what I read, it's not local currency denominated as local as it sounds and has fees.

It is indeed an international debit card and international debit cards are not cheap, or recommended for everyday local transactions.