PayPal fees

[blacktrillium]

Hi guys, new to oDesk here. I'm based in the U.S. and was wondering if PayPal charges the 2.9% + $.30 fee when you withdraw from oDesk to PayPal, since you are receiving funds in exchange for a service.

Thanks!

[david_gregory]

oDesk charges $1.00 to send money to PayPal. PayPal doesn't take any fees off (at least they haven't for me so far).

[erome009]

How long does it take to receive money from upwork to paypal?

[screeler]

I get mine almost immediately. 

When I move my funds from Pp to my bank, that's when it takes a bit of time. 

[jmeyn]

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@Erick R wrote:

How long does it take to receive money from upwork to paypal?

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 Couple of minutes at most.

[rocky_90]

Hi .

I need to add pay pal account in odesk profile , but I am not getting payment option , please suggest

Regards:

rocky

[vorion]

Rocky,

Don't use Paypal to transfer your funds to India. Local Fund Transfer is the best option.

Paypal takes hefty amount. Just add your local bank account to your oDesk account. It's plain and painless.

I used to transfer through Paypal. It takes 4.5% for transfer and another 4% for conversion. Totally 8.5%. If you transfer through local bank, it's just 1.99$

It was Preston who told me this a couple of months ago. I am using it. And it's the best.

Pravin

[mrashish]

Hi Pravin,

Doesn't transferring to a local bank account in India takes $30 per withdrawl? I read about that. Check the image below.

[danney_antony]

Wire transfer is $30. If you choose The very first option (local fund transfe) it will cost you just $1.99

[6b0056ed]

Hi Pravin,

Any idea how much Paypal charges to transfer funds to an Indian Bank account at present.

Also is that the best way/reasonable way to trf the funds?

Regards

Rajneesh

[petra_r]

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Rajneesh M wrote:

Any idea how much Paypal charges to transfer funds to an Indian Bank account at present.

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Nothing other than their not so super great conversion rate. There is no "PayPal fee" as such as there would be if you received money for goods and services.

[prestonhunter]

Wei, why do you want to use PayPal to withdraw money??

You live in New York. Like anyone in the U.S., you can easily open a bank account and transfer money from oDesk directly to your account for free, any time, no fees.

[screeler]

Good point Preston. 

I use Pp to transfer money because I always think that the bank will give me less with the conversion than Pp does. 

Do you think even my Canadian bank would be a better option than Pp? 

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@Preston H wrote:
Wei, why do you want to use PayPal to withdraw money??

You live in New York. Like anyone in the U.S., you can easily open a bank account and transfer money from oDesk directly to your account for free, any time, no fees.

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[petermurray]

This was never really answered as @Wei intended, was it? Just for future reference, No, the substantial PayPal fees  (2.9% + .$30) are not deducted as applies in PayPal-to-PayPal transactions. The only charge that applies in this case is the Upwork withdrawal fee ($1 for US and $2 for non-US residents). So, if you withdraw $100 to PayPal, you will be credited with $99 and $98 respectively.