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nivs
Community Member

Transferwise

Hello ๐Ÿ™‚

 

Will there be any chance in future of being able to use Transferwise for withdrawing funds as they usually have better rates than Paypal & Payoneer?

 

Thanks.

ACCEPTED SOLUTION
novotas
Community Member

Hi,

It actaully is possible to use transferwise already. You just need to have USD account at TFWS (ehich is free) and then you can send funds to this account via ACH transfer completely free as well.

Regards,

Peter 

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36 REPLIES 36
egaruth
Moderator
Moderator

Hi Niveen,

 

Thank you for reaching out to us and sharing your feedback. I will make sure to share your report with our team. 

 

~ Nikola
Upwork
1433e940
Community Member

Hi Niveen:
you can see my document
I hope I can help you.
**Edited for Community Guidelines**
thanks!

novotas
Community Member

Hi,

It actaully is possible to use transferwise already. You just need to have USD account at TFWS (ehich is free) and then you can send funds to this account via ACH transfer completely free as well.

Regards,

Peter 

nivs
Community Member

Thanks Peter! ๐Ÿ˜„

How long does it take to receive payments from Upwork to Transferwise? Is it real time?

Hi Mary,

I'm still setting this up so can let you know once I've completed the first transaction.

I believe other freelancers (like Peter) may know already so perhaps they can answer sooner than me.

lggr
Community Member

Hello

I am about to try the same and I am not familiar with how to set it up. I have a USD balance in Transferwise (now WISE) and there is a SWIFT/BIC Code which I have to enter and then a 10 digits account code. Is that everything I should reflect as the account where to send USD to? Also, the Transferwise postal address in New York, must be added to?

 

I am familiar with the european IBAN code but not with this which does not look that simple to me.

 

Thanks a lot 

nivs
Community Member

Hi Lino,

 

So what I did was:

 

Settings, Get Paid, Add Method, Direct to U.S. Bank (USD) - Set up.

Enter Account Holder Name, Select account type (my account is a checking account) and then enter the routing number & account number from your Wise account (no need to add address).

Click the check box and hit Add Account.

Upwork will then remit two small values to test the link, once received in your Wise account you will need to enter the values in Upwork to verify. 

 

After that you should be good to go! ^.^

 

 

 

lggr
Community Member

Niveen

 

thanks a lot! I will try: those instructions look pretty good.

 

Thanks again


Hello,

Does this include Saturdays and Sundays?
I withdrew the money on Friday and it has taken 24 hours already but it hasn't reflected yet on my TransferWise account.

Pls let me know.

Thank you!

Hi Mary Denelle,

Sorry - it should say one working day. 

I think you can expect it to hit your account on Monday.

Best regards,
N

 

arslannuces
Community Member

How much time it will take to receive dummy payments from Upwork to transferwise?

 

I guess it took a little less than 48h.

Hey,

I wanted to know for the account type, I have one on Wise Business, so do I have to select Corporation Checking rather than Individual Checking ? Even if I'm working as a Freelancer on my own ?

My Wise US account take my business name also.

For instance, my first then last name are Julien Zen, but my business name that I provide on the US account of Wise is ZEN JULIEN. What should I put on Account Holder on Upwork ?

 

account_type.jpg

 

 

Hi Julien,

Do you have both an individual acount and a business account? Is your business incorporated?

If you have both, I'm guessing that you would need to select the account you want the funds to be credited to (and the details will have to match).

Perhaps someone who knows better will be able to provide a more correct answer?

Best,

N

Thanks for this quick answer.
No I only have business account currently on Wise, and my business is not incorporated.

Hi again Mary,

 

I've just tested this out for the first time with $100 withdrawal for each Wise & Paypal to compare.

For anyone wishing to know:

 

Paypal - $2 withdrawal fee $98 gave ยฃ68.85 - Instant

Wise - $0 withdrawal fee $98 (I adjusted to $98 to compare like for like) gave ยฃ70.49 - Wise withdrawal fee $0.95.  Upwork to Wise via ACH took 1 day & Wise to my bank was instant.

 

Best regards,

N

gabiruh
Community Member

I tried that but everytime the screen freezes with a spinner. No request is sent, as you can see in the screenshot below.

 

 

Screenshot from 2021-06-11 08-53-05.png

Hi Gabriel,

 

I checked and it looks like you added a payment method recently and posted here about being resolved. Could you please let us know if you still need help with this?

 

Thank you.

~ Aleksandar
Upwork

Yes. It's solved already. Thanks!!

26a0c8a8
Community Member

Hi Peter, How long does it take for your money to be on your bank account, after the trasnfer?

Hi Peter 
Hope you are doing good 
Can you please clear my confusion
I have done the same and I have not received my amount yet in my wise Dollar account 
Its has been 3 days 

mc100
Community Member

hello ๐Ÿ™‚

 

i recently added my transferwise (ACH) account that took 3 days to update. after getting confimation email from upwork i withdraw a small amount to ACH account. i got the confirmation email from upwork but it does not  reflect on the transferwise. its been more than 48 hours now. any idea how much time does it take to show on the transferwise?

 

thanks.

 

Hi Noman,

 

Please know that ACH funds will arrive in your bank account within two to five business days. Processing and clearing times vary widely from bank to bank. Bank holidays can also delay your funds. You can find more information about US Bank (ACH) fees and timing in this help article

 

Let us know if you do not receive your fund in 5 business days and we will assist you further. 

~ Nikola
Upwork
mc100
Community Member

hi Nikola,

 

so today my ACH account has been disabled, no idea what could be the reason. can you help me to add him back or just guide me about the process?

 

thanks.

Hi Noman,

 

I checked and both of your payment methods seem to be active. If you're still experiencing any issues please let us know!

 

~Andrea
Upwork

i re-enable the ACH account. can i withdraw to ACH account in future?

last time when i withdraw to ACH account, amount was reverted to upwork and ACH was disabled after 4th day.

djondinium
Community Manager
Community Manager

Hi Noman,


Everything looks okay with your ACH account so you should be able to withdraw funds using that method. However, if there are any issues with your withdrawal, please let us know so we can check.

 

Thank you.

~ Aleksandar
Upwork
mc100
Community Member

hi, hope you are good. so i made a withdraw 5 days ago and i get the following notification. check screen shtos.

 

**Edited for Community Guidelines**

Hi Noman,

 

As our team advised, please feel free to update your payment method to make sure it's valid.

 

~Andrea
Upwork

Hi Andrea,

 

should i remove and add back the ACH detail again in payment method?

djondinium
Community Manager
Community Manager

Hi Noman,

 

Yes, you can remove it and add it back again. I would suggest checking with your bank first to make sure all the information you're entering is correct. 

 

Thank you.

~ Aleksandar
Upwork
82de89ae
Community Member

Hello ๐Ÿ˜Š

 

I recently added my transferwise (ACH) account that took 3 days to update. after getting confimation email from upwork I withdraw everything to ACH account. I got the confirmation email from upwork but it does not reflect on the transferwise. its been more than 48 hours now. I feel so nervous coz it takes too much time. Any idea how much time does it take to show on the transferwise?

 

Thank you.

Hi Shiela,

 

Please know that ACH funds will arrive in your bank account within two to five business days. Processing and clearing times vary widely from bank to bank. Bank holidays can also delay your funds. You can find more information about US Bank (ACH) fees and timing in this help article

 

Let us know if you do not receive your fund in 8 business days and we will assist you further. 

~ Nikola
Upwork
f632d105
Community Member

Hello,

 

I added a USD Wise account to Upwork and it also got verified but once I transferred money it hasn't arrived in my account yet...

I am starting to worry as I initiated the payment on Thursday 24 Nov 2022 and today is Sunday 27 Nov 2022 and still waiting for my payment..

Starting to worry now ...please help me...

Thanks   

In general, transfers can take 3-5 business days, and up to 14 for first-time transfers. Since you initiated the transfer on a US holiday (Thanksgiving) and two days before the weekend, you shouldn't expect the funds to arrive before 29 Tuesday. 

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