Upwork currency exchange rate for withdrawal(?)

[andrie81]

Just an example. I'm terrible at Math and assuming Upwork have a good employee that can do the calculation well.

Upwork
Fee: $0.99
Rate:  2.675

xxyxxl
Fee: $2
Rate: 2.923

Let's just say that I'm withdrawing my balance of $100. After 30% fee of course.

Upwork : ($100-$0.99)*2.675 = $264.85
xxyxxl : ($100-$2.00)*2.923 = $286.45

That's quite facinating.   I'm going to use Upwork's direct withdrawal method for sure coz I'm saving more. Pheww..

Seriously? Why not make the rate as close as possible and I'm pretty sure I'll want to avoid the extra steps of withdrawing my balance to a 3rd party. Is the volume too small for you guys?

[kochubei_valeria]

Hi Alif Andriyanto,

I believe you are referring to the exchange rate offered for Direct to Local Bank transaction. Please, note that the rate is set by the bank and is a subject to fluctuation. 

A few withdrawal methods are offered on Upwork for you to choose from. I hope you'll be able to find one that fits your needs the best among them.

[petra_r]

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@Alif Andriyanto A wrote:

Let's just say that I'm withdrawing my balance of $100. After 30% fee of course.

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 What 30% fee?

[andrie81]

I'm sorry, don't take the % literally Petra. The calculation is just a made up example. Lol. (20%, 10% etc )

Well, if the rate is set by the bank and is a subject to fluctuation, guess that the bank that Upwork currently using is a total ^$^$%.

Why introduce a useless option (at least for me) and made it look like we are paying a lower withdrawal fee by using it? 

- Already found one that fits my needs the best among them and Upwork raised the service fee. Come on... 

[petra_r]

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@Alif Andriyanto A wrote:

The calculation is just a made up example. Lol. (20%, 10% etc )

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 "Alternative facts," also known as "outright lies" to make a point.

Are you even comparing like for like? Such as the exchange rate used by 2 different withdrawal methods the same day?

[andrie81]

Yeah, I lied a lot. Hahahah.. 

Yes, I'm comparing exchange rate used by 2 different withdrawal methods the same day.

Why $2 vs $0.99 fee? Is it harder to transfer to other party? 

[aocumen]

Hi Alif Andriyanto, 

Please take note that the increase in fees to Paypal was Paypal's decision and not Upwork. For more information please see the help article for PayPal.