my old payment method was payoneer card which was alrady inactive. Now I have added Local Fund transfer method. I have given all the information, i.e Swift code of my Bank, Bank account number, filled out complete information in form and submitted, more than 4 days have passed but still my Local Fund transfer payment method is showing Inactive. what is the reason? Screen shot for consideration is attched here with.
Is your bank account in precisely the same name, same spelling, same way of writing it as your Upwork account?
Otherwise there would be a "beneficiary mismatch" situation, in that the account name of the Upwork account does not exactly match the name of the owner of the bank account.
Take another look and report back with what you find.
The name on your Upwork account must be your own legal name, and the name on the bank account must match exactly.Any slight deviation with cause an issue.
Have you completed your tax information? No freelancer anywhere in the world can withdraw any money without their tax info being on file.
If you haven't, please go to your settings, then click on "My Tax Info" on the left, and complete the W-8BEN
Thank you so much, I am happy my payment method has been updated with adding Tax information, as tax infromation was missing in my profile. Your guideline was really helpful for me.
Petra's second guess is right. Please, go to your Settings > Tax Information and make sure you complete your W-8BEN. Let us know if you have any further questions.