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Local Fund Transfer for Europe - WHY In Euros?

Active Member
Kalina S Member Since: Dec 16, 2011
1 of 3
Hello everyone, and esp. ODesk administration stuff! I have just had a live chat and got a recommendation to post my q. here. I hope after that, there will be a good result for all ODesk freelancers, who are Europeans. The question is: Why LOCAL FUND TRANSFER to ALL European countries (incl. those which are not in Euro zone) is using double conversion?! U.S.dollars => Euros => Local currency/ Currency of the particular bank account. I, being a citizen of country, which is out of Euro zone, am losing money twice. And everyone in my case is losing. My suggestion is: LocalFundTransfer to use only one conversion, i.e. Dollars => Local currency. This way all Europeans from Euro zone will get their money in Euros, and all the rest - in their local currencies. It is called LOCAL Fund Transfer after all. Looking forward your replies and opinions, Kalina
Active Member
Adrien V Member Since: Feb 6, 2015
2 of 3

Since the big increase of exchange rate Euro-US of 20% recently.  My freelances costs me 20% higher and the same for the freelancer in europe who has 20% less. 40% gap for euro-euro contract!!

 

Guys,at odesk have to find a solution to find the best rate for a mission and transactions.

It is your job to do that else someone else will do it anyway.

 

Cheers,

Adrien

Community Leader
Teri S Member Since: Oct 17, 2011
3 of 3

While I only consider this a minor annoyance, I do agree that it is annoying. Especially as it's a more recent change. When I started here, a few years ago, I did receive my local currency transfers in my local currency. So, it's not like this is something oDesk can't do, since it's what they used to do up until less than a year ago.

 

Does anybody have an explanation as to why the switch was made in the first place?

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