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

USD account

florallenbesinga
Active Member
Flor Allen B Member Since: Jan 19, 2016
1 of 20
Hi all,
I would just like to know if I can add my dollar savings account (which was opened here in the Philippines under Banco de Oro) as one of my payment methods? If so, how do k do it and what are the charges associated?
Allen
screeler
Community Guru
Mariska P Member Since: Apr 27, 2015
BEST ANSWER
2 of 20
aocumen
Moderator
Avery O Moderator Member Since: Nov 23, 2015
3 of 20

Hi Flor, 


You may setup your payment method in the Get Paid section of your User Settings. Click on "Add a Payment Method" and click the setup button for the "Local Funds Transfer". Type-in the BRSTN code of your bank account (you may check for your local bank's code here), and enter your bank account details.

 

Make sure to type-in all the information correctly. Remember, your bank account name and the name of your Upwork account must match. 

 

I've included here some articles that may help you setup your payment method

Avery

 


~ Avery
Upwork
lealdaniel
Active Member
Leal Daniel P Member Since: Sep 16, 2015
4 of 20
The method provided is withdrawing and receiving the local currency. The question was, how to withdraw and receive the amount in USD, not convertes to PHP. Also my question
florallenbesinga
Active Member
Flor Allen B Member Since: Jan 19, 2016
5 of 20
I don’t think anyone gets it. The best way to find out is to try but it’s too risky.
lealdaniel
Active Member
Leal Daniel P Member Since: Sep 16, 2015
6 of 20
So sad. The reply above was from Upwork, right?
petra_r
Community Guru
Petra R Member Since: Aug 3, 2011
7 of 20

Leal Daniel P wrote:
So sad. The reply above was from Upwork, right?

No, it wasn't.

 

You can ONLY withdraw to a US Dollar account if you use wire transfer, and that costs $ 30 - it is worth it if you withdraw over $ 800 (ish) at a time. You can't do local funds transfer because that is, as the name suggests, done in "local funds" ie your own currency. If you withdrew to a US Dollar account it would either not go through at all, or get exchanged from local currency into US Dollars which would be insane as you would lose out twice in exchange rate losses, once when Upwork's bank changes the Dollars into local currency, and once more when the receiving back chages it back into US Dollars.

florallenbesinga
Active Member
Flor Allen B Member Since: Jan 19, 2016
8 of 20
Hi thanks for your responses. When i tried to set up another LFT, the page shows 'Local Fund Transfer (PHP)'. Does that mean i cant add my dollar acct since im here in the Philippines?
aocumen
Moderator
Avery O Moderator Member Since: Nov 23, 2015
9 of 20

Hi Flor, 


You will still be able to set it up. Regardless of whether or not it is a dollar, or Philippine-peso account, the BRSTN code of the bank is the same, and will still apply. 

 

I hope that clarifies things. Let me know if you have further questions!

Avery


~ Avery
Upwork
thepaureyes
Active Member
Paula Bianca R Member Since: Jul 4, 2016
10 of 20

Hi Avery,

 

If I have a dollar account in a local bank here in the Philippines, whenever I transfer from Upwork to my dollar account, will I be receiving it directly in USD or will it be converted to PHP first and my local bank will convert it to USD?

 

Thanks,
Paula

 

 

TOP SOLUTION AUTHORS
TOP KUDOED MEMBERS