USD Wire transfers to Nigeria timeline

[f9f90935]

How many days does it take Upwork to process a USD wire transfer to a Nigerian bank?

I made a withdrawal request on Monday, and it was successful. However, I haven't received a notification that my withdrawal request has been processed as at Wednesday; 2 days after initializing the withdrawal.

Is this normal?

This is my first time using the wire transfer option.

[AndreaG]

Hi Funso,

I checked the transaction you're referring to and can confirm it was successful on our end. Please know that Wire Transfers may take several to arrive in your bank account. If more than 8 business days pass and you still haven't received your funds, please follow up with us so we can initiate a trace for you. You can check out this help article for more info on Wire Transfer Fees and Timing.

Thanks!

[babawale85]

Hi Funsho, 

How were you able to resolve the issue? 

I am also thinking of using the Wire Transfer option and I don't want to be trapped in any way. 

And then, which bank did you use?

Thanks.

[teminii]

I have the same issue at the moment. I initiated a wire transfer and a local bank transfer at the same time. I got an email confirming the local bank withdrawal has been processed and I've since received the funds, but I'm yet to get an email confirming the wire transfer withdrawal.

[babawale85]

I got mine after three days of initiating the process

[teminii]

Thanks for the response. Was it the withdrawal confirmation email you got 3 days after or the payment?

[babawale85]

No, I got the payment without any withdrawal information

[teminii]

Thanks, Babawale. This was very helpful.

[BojanS · Accepted solution]

Hi Temini,

I checked and can confirm that a withdrawal you’re referring to was successfully processed on our end.  It can take up to four business days for the funds to arrive at your bank account. To learn more about this check out this guide.

Thank you!

[teminii]

Thanks, Bojan. All understood.

[hemanuel_anim8]

hi @temini please how far with the payment have you seen the payment and how long did it take ? please this will be very helpful 🙏

[09199707]

Hello Bojan.

Please, I mistakenly used USD with transfer instead of Wire Transfer (local banks). The job is just $32 and and $30 was taken for withdrawal fee while only $2 is to be sent to my account. I need help. I need to reverse the transfer. I need that money for medical emergency 

[ArjayM]

Hi Benjamin,

I certainly understand your situation. I have checked your account and it looks like there's already a support ticket created with your concern. I highly suggest you communicate with our team through that ticket for updates and further assistance. We seek your patience and cooperation while we address your concern. Thank you!

[hemanuel_anim8]

please at babatunde how many whats the name of the bank you are using for ?

[teminii]

Hi Kolawole. Yes, I received the payment. I got it on the 3rd day after initiating a withdrawal.

[3ef6f550]

Hello temini, please was it through local bank?

Do I need to open dollar account first because I just withdraw today and I haven't received my payment so I had to contact access bank they said they are yet to receive anything that I think I need to have a dollar account 

[babawale85]

I use Stanbic IBTC.

Apart from the first one which was delayed (I guess due to weekend or so), every other one came in the day I initiated them.

[bd79b6a5]

Hi Babatunde,
So if I initiate a withdrawal to local bank, I can get it the same day?

[babawale85]

Yes, you can BUT not on a weekend or during public holiday.

[bd79b6a5]

Thanks ill try it out. I just hope the rate is juicy and that it can reflect in my acct the same day.

Thanks

[teminii]

Local withdrawal? Lol the rate is 390 or so. I usually do that when what I want to withdraw isn't much, and I need money quickly. If you want to withdraw a lot of money, I'd advice you make use of wire transfer or any other option.

[babawale85]

😁😁😁😁

Local withdrawal is like intentionally losing money.

I don't think I want to use it again. In fact, it's not even as fast as wire transfer

[babawale85]

Well, it depends on how much you're withdrawing. But remember that Upwork will charge $30 as processing fee.

It also depends on who you're selling your USD to but I'm sure you won't sell it less than #550/$

[bd79b6a5]

I don't have a domiciliary account yet, ill work it out this coming week. Thanks for tips

[cardiiee]

Most definitely I got my wire transfer deposited in my dom account within 2 days and the exchange rate as of yesterday 26/10/2021 was 567.

[babawale85]

Wow. 567 is very okay.

Where did you change it?

[ladeva]

Hello. What's the best way to receive payments? Payoneer or PayPal? How do you do yours. Kindly let me know

[teminii]

Hi Victoria. PayPal doesn't work for us, so i use Payoneer. I added my domiciliary account, so I send my funds from upwork there then make a withdrawal to my dom account. That way I incur less charges, but it takes more time than upwork wire transfers, and Payoneer's customer service is almost non-existent - so if anything happens to your funds, it'll be hard to chase.

[surh]

Hi Temini, did you say less charges through payonner? I thought so too  but I got to find out bigger transaction means bigger fee. Payoneer charges 2% of total transaction so except you're withdrawing less or equal to $1500 then the fees would be more than $30. I was charged $151 for a particular transaction on Payoneer which would have been $30 on Upwork where I did all the withdrawals from. 

I think the question is what's the max value you can leave in your upwork balance. 

[teminii]

Hi Agboola, yes I agree with you. I also noticed the transaction charges increases the higher your withdrawal. I was addressing freelancers that might not be withdrawing a lot of money but still want the value for their money. 

Anything more than $500 or even $1000 it's advisable to make use of the upwork direct withdrawal. 

[harbdollar]

But the day I did the wire transfer, I had $250 so wire transfer charges which is $30. But I don't receive $220, I received like $190+. What can happen, does it mean it's my bank charges or what?

Is this usually happen to you? Because Upwork told me they have no knowledge of it because Wire transfer usually takes many routes

[teminii]

It's most likely your bank. Something similar happened to me about a week ago. I made use of Payooner though, and not Upwork. (Withdrew from upwork to payoneer, then to my dom account) 

Also, my bank is GTB. I'm used to my money not being complete lol. 

[harbdollar]

Which Nigeria banks will you recommend for DOM account because it's a pain in the ass when your money is being deducted after the wire transfer fee?

[babawale85]

I use Stanbic IBTC and I get my payment by 2pm on the same day of
withdrawal.

[harry_joe]

Do they deduct any extra fees apart from the 30 dollars of upwork 

[harry_joe]

Is this consistent or was a one time thing. I currently use payooner and every time I withdraw they take 10 dollars.

[38e84878]

Hello Temini. This is coming late but I just want to know, do you do wire transfers from your Upwork account to your Nigerian domiciliary account? If so, does it work and would you suggest it? Are the charges high and do you get credited in dollars? I'm sorry for the many questions, but I'd appreciate your response when you have the time. Thank you.

[5c5cf074]

Babatunde, which exchanger did you use?

[cardiiee]

Hi Blessing guessing this must be coming late I'm sorry. So I use an exchanger at Ikota shopping complex at VGC Lekki Lagos. But I think the exchange today is 580. Best of luck

[ebyemem]

hello babatunde and everyone, i want to withdraw from upwork to my dollar account with zenith bank, which method do you suggest i use, and will it arrive as dollars thank you