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

petra_r
Community Guru
Petra R Member Since: Aug 3, 2011
11 of 16

Dominic C wrote:

I have chosen Direct to Local Bank option from the start - see screenshot below. 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.

 


What makes you think you are being charged for wire transfer?

 

What are you actually comparing to what? Not the mid market rate to what you actually receive in your bank account, hopefully? (That is not what any bank gives retail customers.)

 

Direct to local bank always results in a fairly poor exchange rate. You may want to experiment with withdrawing to a $ balance on PayPal and then transferring to your bank from that. Maybe withdraw an equal amount to each next time.

collarddominic
Active Member
Dominic C Member Since: Jul 8, 2020
12 of 16
I don’t know what the charge is for, but I am being charged for something because even the worst case scenario exchange rate doesn’t account for what I’m losing. Presumably you will have a record if I’m being charged for a wire transfer or not? So please can you tell me?
kochubei_valeria
Community Manager
Valeria K Community Manager Member Since: Mar 6, 2014
13 of 16

Hi Dominic,

 

I can confirm you weren't using Wire Transfer for your most recent withdrawals. You're using Direct To Local bank and the withdrawal fee for that method is $0.99. You can see the withdrawal and the fee recorded in your Transaction History. In the same Transaction History report you should be able to see the amount in USD and in GBP. I'll check with the team if there are any issues with the rate but, generally, the conversion is performed by the bank and not by Upwork, so we don't have much control over it. 

~ Valeria
Upwork
collarddominic
Active Member
Dominic C Member Since: Jul 8, 2020
14 of 16

Thank you for offering to check. It does seem a strangely high foreign
exchange fee, and not variable either, so appreciate you checking. Look
forward to your response.
--

**Edited for Community Guidelines**

jr-translation
Community Guru
Jennifer R Member Since: Sep 15, 2017
15 of 16

Petra R wrote:

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

 


I only used withdrawl to local bank once. One problem was the currency from US$ into EUR and then back to US$ because I have a currency account. But any time I'ld use withdrawl to local bank I'ld pay double conversion fees because withdrawl to local banks in Europe are made in EUR, no matter what currency the country uses.


petra_r
Community Guru
Petra R Member Since: Aug 3, 2011
16 of 16

Dominic C wrote:

I'm being paid in £. But I'm getting paid less than UpWork say I should be receiving. 


What exactly do you mean by "what Upwork say I should be receiving?"

 

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