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Re: New payment method - TransferWise**

Active Member
Heliton N Member Since: Nov 9, 2015
51 of 58

Thank you for the tip Andrei.

 

If you create a Borderless Account in Transferwise you can send money from your Upwork account using the Wire Transfer method. Transferwise's Borderless Account provides you account details so you can use it to fill the Wire Transfer form in Upwork.

 

The only problem I see is that unfortunately the Borderless Account is not available for all countries, but they are expanding it quickly.

Ace Contributor
Andrei C Member Since: Jun 23, 2015
52 of 58

If you use Wire Transfer you'll be charged $30 per transfer, which kind of defeats the purpose of using the Borderless Account. You need to use the Direct to U.S. Bank (USD) payment method in Upwork. Again, all the details on my website when you search for my name (Andrei Condurachi) on Google.

 

Indeed, TransferWise doesn't support all countries but, like you said, they expand quickly.

Active Member
Heliton N Member Since: Nov 9, 2015
53 of 58

For my country Borderless Account doesn't provide an USD account.

 

Depending on the amount of money you gonna transfer, $30 could be cheap. For example, in my country, bank accounts cost ~$40 monthly + 0.15% per incoming transaction. Even paying $30, the Wire Transfer is cheaper for me.

Ace Contributor
Andrei C Member Since: Jun 23, 2015
54 of 58

I'm sorry, I'm a bit confused. Are you saying you actually logged into TransferWise and then clicked the button to create your Borderless account and the USD option was not there, just the GBP and EUR ones?

 

According to their supported countries list (https://transferwise.com/help/article/1570071/basic-information/supported-countries) you can't create a Borderless account (after you created your regular TransferWise account) at all if your country is not listed there. So, it doesn't matter what you choose in Upwork as payment method, you won't have any Borderless account details to use.

Active Member
Andrey S Member Since: Jul 17, 2017
55 of 58

I just ran into this problem so I'm sharing it here. You can create a borderless account but you can't transfer USD to it because they hide bank details from you. https://transferwise.com/help/article/2811629/borderless-account/why-cant-i-get-usd-account-details . Sounds really weird and stupid. Transferwise is not an option for certain countries.

Active Member
Natalie B Member Since: Apr 11, 2016
56 of 58

Come on Upwork.... Partner with Transferwise!!! Their fees are SO MUCH LOWER and now the ONLY place I go to transfer my money into other currencies!!! I don't want to stop using you over something so easy to fix!

Ace Contributor
Andrei C Member Since: Jun 23, 2015
57 of 58

Hi Natalie,

 

There's actually nothing to fix. Upwork works automatically with TransferWise: you just need to use the "Direct to U.S. Bank (USD)" payment method in Upwork and connect that with the TransferWise USD account you've set up when signing up. Upwork USD => TransferWise USD => Spain EUR.

 

Best regards,

Andrei

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Active Member
Evgeniy I Member Since: Mar 13, 2016
58 of 58

Hello Folks,

 

As for Transferwise policies, USD borderless account is not working for certain countries.

So, just curious whether the Upwork team working on the direct integration? It seems lots of people would love to see it integrated.

 

Thanks!

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