Reply
cancel
Showing results for 
Search instead for 
Did you mean: 
Reply

Suggestion about the direct to local withdrawals

zoomconcepts
Community Guru
Bojana D Member Since: May 2, 2011
1 of 5

It's a great method to get paid and I'm glad you're expanding those. 

 

But if possible, can your partner in this, Transfast, add Upwork's company name somewhere on the payment notice? Currently in only lists "transfer" under the Details of payment section, and the transfer comes directly from a Transfast Remittance local account. As the amounts withdrawn (and invoiced) don't match the incoming transfer (due to the currency exchange and the special rate used by Upwork/transfast), there's nothing in the payment notification that can be used to link the money to the actual source of income - it looks like I'm issuing invoices for one set of details and sums, and I'm getting a different amount of money that I have not invoiced, from a third party. 

 

A simple fix would be to change the Details of payment field from "Transfer" to "Upwork payment" or something that links the two companies in a papertrail. 

 

As much as I love the new method, my accountant advised me not to use it as it is. 

vladag
Community Manager
Vladimir G Community Manager Member Since: Oct 31, 2014
2 of 5

Hi Bojana,

 

Thanks for sharing your feedback, I'll forward the information to our team and follow up with an update soon.

Untitled
vladag
Community Manager
Vladimir G Community Manager Member Since: Oct 31, 2014
3 of 5

Hi Bojana,

 

Our team confirmed that the name that hits the bank statement (i.e. transfer to Upwork or deposit to Upwork) can't be changed. It is due to the process this type of payment entails, which is different from wire transfers that originate directly from Upwork's bank account.

 

Could you please check with your bank and accountant if the email you receive in regards to DLB withdrawals, which should include Upwork's logo, USD value and the local currency value, can be used to claim the funds with your bank and for the invoicing purposes?

Untitled
zoomconcepts
Community Guru
Bojana D Member Since: May 2, 2011
4 of 5

Hi Vlad, thanks so much for looking into that. Unfortunately the email can't be used - while it does have the right amount in it, it doesn't mention Transfast anywhere (at least as far as I remember) and my problem is mainly linking the two companies (Upwork and Transfast) in a tangible way, preferably in an official document as the payment notification. 

 

I'll just use the transfer in Euro, that has Upwork's name on the notification. Thanks again for looking into it 🙂

irys
Active Member
Ivan I Member Since: Sep 3, 2017
5 of 5

Hello,

 

I have the same problem - after receiving payment from upwork using Direct to Local Bank (which went well, fast and with low commission), I notice there is no evidence that money comes from Upwork. This raises big issues for accounting.  Isn't there really nothing you can do about this?

 

I find it really hard to believe that it is so difficult to find a decent solution for enabling people accurately reflect the source of their money income in the bank accounts. 

 

@Bojana, what payment method did you choose in the end?

 

Thank you

Irina

TOP SOLUTION AUTHORS
TOP KUDOED MEMBERS