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I'm being paid in £. Why am I receiving less than UpWork say has been paid to me?

collarddominic
Active Member
Dominic C Member Since: Jul 8, 2020
1 of 16

I'm being paid in £. But I'm getting paid less than UpWork say I should be receiving. I'm wondering if that is to do with UpWork using a different exchange rate, or if my bank is levying a charge for processing an international transaction? 

g_vasilevski
Moderator
Goran V Moderator Member Since: Mar 24, 2017
2 of 16

Hi Dominic,

 

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.

~ Goran
Upwork
collarddominic
Active Member
Dominic C Member Since: Jul 8, 2020
3 of 16

Hi again. I’ve just been paid again and once more about £30-£40 is missing.
I have checked with my bank and they don’t charge for processing a deposit
from a foreign bank, so I presume the charge is being levied by UpWork’s
bank. Please can you confirm if this is the case, and if so how much they
charge?
--

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collarddominic
Active Member
Dominic C Member Since: Jul 8, 2020
4 of 16
Hi again. I’ve just been paid again and once more about £30-£40 is missing. I have checked with my bank and they don’t charge for processing a deposit from a foreign bank, so I presume the charge is being levied by UpWork’s bank. Please can you confirm if this is the case, and if so how much they charge?
jr-translation
Community Guru
Jennifer R Member Since: Sep 15, 2017
5 of 16

Dominic C wrote:
Hi again. I’ve just been paid again and once more about £30-£40 is missing. I have checked with my bank and they don’t charge for processing a deposit from a foreign bank, so I presume the charge is being levied by UpWork’s bank. Please can you confirm if this is the case, and if so how much they charge?

Are you using wire transfer?

collarddominic
Active Member
Dominic C Member Since: Jul 8, 2020
6 of 16
We call it BACS transfer here, but I think it’s the same as what you call wire transfer in the US. Basically a bank to bank transfer of funds.
jr-translation
Community Guru
Jennifer R Member Since: Sep 15, 2017
7 of 16

Dominic C wrote:
We call it BACS transfer here, but I think it’s the same as what you call wire transfer in the US. Basically a bank to bank transfer of funds.

There's your answer. Upwork charges a $30 fee for each U.S. dollar wire transfer. There are several ways to get paid so there might be another method that will cost you less.

collarddominic
Active Member
Dominic C Member Since: Jul 8, 2020
8 of 16
Why? Are you charged that fee by your bank, and simply pass it onto the freelancer?
petra_r
Community Guru
Petra R Member Since: Aug 3, 2011
9 of 16

Dominic C wrote:
Why? Are you charged that fee by your bank, and simply pass it onto the freelancer?

Please check which bank transfer you are using: Wire transfer (which costs $ 30) or

"Direct to local bank" which costs $ 0.99 


And clearly Upwork passes on costs related to transactions, but the fees for the various withdrawal options show clearly when you withdraw.

 

withdrawal.png

 

collarddominic
Active Member
Dominic C Member Since: Jul 8, 2020
10 of 16

I have chosen Direct to Local Bank option from the start - see screenshot below. And indeed am being charged the £0.99p withdrawal fee for every transaction. See second screenshot. So I am unsure why I am being charged for the wire transfer option. Please note I have been charged this fee for the last five transactions.

**Edited for Community Guidelines**

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