Hello,
I was wondering if anyone would like to have TransferWise** as a payment method option in Upwork?
Last week alone I lost $54 because of the transfer to my bank and the exchange rates they use, and I'm sure I'm not alone. So, in essense, every month I lose over $200 from my hard earned money on Upwork, just because the bank handles the currency exchange from USD to RON (I'm based in Romania), even though the banks boast in 0% charges per transfers.
Even if I set up a USD payment method in Upwork and create a USD account with my bank to receive USD in my bank account, I still have to exchange the money in my currency in order to use them. Not to mention that it makes my accounting more difficult.
I contrast, I went to TransferWise** and inserted the same amount of money I transferred last week and based on their reported exchange rate, I would save up to $49.23 for a transfer of $1500, their fee being only $14.85, which is a HUGE improvement. $200/month lost from using the bank, compare that with $60/month (estimated) the TransferWise** fee. Can you sense how angry I am?
I was able to actually test their system with a client from Holland (unrelated to Upwork, they found me through LinkedIn) and they would pay my invoice through TransferWise** monthly and the amounts that would enter in my bank account were close to the amount of dollars I had calculated beforehand. So, it wasn't lacking something like $200 from the amount, only a small percentage fee (0.5% - 1%).
So, it would really be beneficial for us, freelancers at least, to use the TransferWise payment system! Is there anyway that the TransferWise** payment method can be implemented at least at the start of 2016?
Has anyone else been experiencing this?
Andrei
**Edited for Community Guidelines**
Member Since: Oct 31, 2014
