🐈
» Forums » Freelancers » Re: Local bank payment South Africa
Page options
hilaryreynolds
Community Member

Local bank payment South Africa

Hi,

I see that several African countries such as Senegal have access to local bank payments, but not South Africa, Is there any intention to add South Africa to the list of local banks? It certainly has the banking infrastructure for it and would save a great deal of trouble.

 

Thanks

23 REPLIES 23
lindafoo
Community Member

Hi there, yes I hope so too! In the interim, I’ve found that Payoneer (as opposed to Paypal) works best.
g_vasilevski
Retired Team Member
Retired Team Member

Hi Hilary and Lin,

 

Thank you for your feedback I will share it with our team. Unfortunately at the moment, I don't have any details about this, I will check with our team and once we (Moderators) have more information we will update the thread. 

~ Goran
Upwork

Hi Goran

 

I am new to Upwork, I chose the wire transfer, I would like to know how much it costs and how long it will take to get my money.  Also which currency do I look at? I look forward to your reply.

 

Bianca

Hi Bianca,

 

I checked and it looks like you added a Direct to Local Bank method, not the Wire transfer one. 

 

When you withdraw funds using the Direct to Local Bank method, the currency conversion will be performed by Upwork's banking partner at the time the funds are sent to you and the money would arrive at your bank in your local currency. The cost per withdrawal direct to your local bank is $0.99 (plus incoming fees at some banks). For more information on the fees and timing, you can check this article.

 

If you have a USD account with your local bank, you can use the Wire Transfer method to withdraw USD directly to that account. Upwork charges a $30 fee for each U.S. dollar wire transfer. You can check this article to learn more about the fees and timing.


Thank you.

~ Aleksandar
Upwork

Hi Aleksandar

 

That's correct! Thank you for your prompt response! 

 

Have a great day!

bevcam
Community Member

PayPal integrates very well with FNB Hilary. After UW release the funds PayPal/FNB usually happens within 48 hours. Works fine for me anyway 🙂

joduxbury
Community Member

I agree with Bev C - I also get my funds into my FNB account within 48 hours of withdrawing them from Paypal. It's super easy to set up Paypal integration if you have an FNB account.

FNB also gives non-FNB clients the opportunity to use their (FNB) PayPal facility to their own (different) bank account. The longest I have waited for a paypal withdrawal to reflect is 36 hours (approximately).

Hi there,

I have a Standard bank account. Do I just open up an Fnb account online and then link PayPal to the Feb account? Please explain it to me.

Yes Jothie, it's easy to open an FNB account online and all the links to open a PayPal account are there.

 

It's really straightforward and user friendly 🙂

Hi Bev C

Im new to Upwork and linked my FNB account.  I withdrew funds from Upwork into my FNB last Friday.  I received an email from Upwork to say that the money would be in my FNB account yesterday, but there is still nothing there.

Is there anything that I need to do with FNB in order to receive the funds?

Thank you in advance

Kind Regards

Johan

Hi Johan,

 

Please keep in mind that It can take between 2 to 5 business days for the funds to be loaded on your bank account. If you have not received the funds after 8 business days let us know, and our team will initiate a trace on your transaction. Thank you!

~ Goran
Upwork

Thanks a million for your speedy reply, I will stay in touch 🙂

Hi Johan, 

 

I'm just wondering if you did recieve payment. I'm in the same boat and was just wondering how long it would take. I withdrew on Monday and still nothing. Last time I withdrew as a test from Upwork direct to FNB, the funds were in my account 12pm that very same evening.  I then decided to withdraw the same way as I thought it would be similar. I should have withdrawn via PayPal, 2-day wait and the exchange rate given by FNB is higher than Upwork. Anyway, let me know if you recieved your funds?

Hi Roxanne,

 

Please keep in mind that It can take between 2 to 5 business days for the funds to be loaded on your bank account. If you have not received the funds after 8 business days let us know, and our team will initiate a trace on your transaction. Thank you!

~ Goran
Upwork

Hi Roxanne, 

 

This is more of a question, i did a "check-out" to test the porcess today (i bank with Standard through), did you have to complete any forms at FNB as to why you are receiving international payments? 

 

The UW process is realy easy, I am just not sure as to how complex the SA clearing side is lol. 

 

PS - Good to see other South African's using this platform 🙂  

Hi Julia, 

 

No, I didn't. If you directly withdraw from Upwork to your linked SA bank account, it's a direct deposit. I was not asked to complete any forms as to why I am recieving the international payment. It usually takes 4 to 5 business days from the time of withdrawal to deposit. 

 

When you are drawing via PayPal into your SA account (which, if I'm not mistaken is only offered by FNB right now, although even if you do not hold an account with them, you can still make use of the facility), FNB then asks you to state a reason as to why you are recieving an international payment. 

 

Feel free to shout if you need any help. It's good to see you've joined the community!

I also use Paypal and FNB and payment is seamless both ways.

 

PayPal's exchange rate is better but they deduct a processing fee whereas Upwork's exchange rate is lower but there are no additional fees after withdrawal.

 

There very little difference if you're drawing smaller amounts.

 

Funds directly from Upwork clear within 24-hours (48 at the most), but PayPal takes a few days. 

 

As with Roxanne, I wasn't asked for any details by FNB either way. Money comes in as a direct deposit and that's it.

Hi

How much is the processing fee with Upwork?

Hi Jothie,

 

You can find info on Direct to Local Bank Fees and Timing here.

 

~Andrea
Upwork

Hi Jothie, 

 

Sorry for my delayed response. For direct to bank withdrawal, there is a $0.99 withdrawal fee. They also offer you a rate, USD to ZAR that is +/- 0.7 lower than the rate shown on Google. For example, today the rate is ZAR 14.64, they offer you ZAR 13.95.  If you go to "get paid" and click the option to directly pay to your linked bank account, all the fees and rate given will be shown to you so you can calculate exactly what you will get in your bank account.  I can't remember how much FNB charged on my end or if there was an incoming bank fee (I don't think there was, and if so, it was neglible as if it was a large cost incurred, I think I would have remembered.)

 

I hope this helps. Let me know if you have any other questions!

Thats a very expensive way to transfer from UW. Go see the conversion rates and fees by fnb

PayPal's conversion rates are very reasonable Will and FNB charges aren't that steep.

 

You can draw directly from Upwork to FNB. Charges are less but the exchange rate isn't that great and Upwork funds can take up to 8 days to clear.

 

There aren't many other options available to draw funds that would be better.

Latest Articles
Featured Topics
Learning Paths