Payment exchange rates

[ioaneduard]

Hello,

I have a small curiosity about the exchange rates applied on my payments. I am using Direct to Local Bank method and Ive understood that Upwork sends money trough Transfast which uses its own rate and applies a 5 dollar transaction fee. 

Therefore, I would like for someone to explain to me this different amount of money im getting, according to Transfast, 222.61 $ (227.61 is the sum before taxes) is 972.81 RON (Romanian currency) but on my Payment Processed email Upwork tells me I „should” get 962.14 RON, an amount that also does not include „ any fees your bank may deduct„ , meaning that I might get even less, but thats a thing that I will check with my bank.

Any help with claryfing to me why im getting other numbers ? Thank so much in advance !

[BojanS]

Hi Ioan,

Unfortunately, the difference in exchange rates is not something Upwork can control. When a bank converts a transaction, they will mark up the interbank rate to buy or sell a currency. Online calculators will not take into consideration the mark up that is applied. Since rates constantly change throughout any given day, the rate you received is the rate offered by our bank at the time your specific transaction was processed.

Thank you!