Why does it take so long for upwork to pay to bank (UK users) ?

[andy-prendergast]

It is very strange that it is almost 2019 and it can still take up to 27 days for a freelancer in the UK to receive money in their bank account once the contract has been ended. 

Let's break it down:

- Freelancer ends contract upon finishing work and is awaiting for payment. The client then has up to 14 days to respond to this, until the money is automatically released. (At least this is via escrow payments, which most clients use.)

- Upwork then take 5 days until it is actually available for the freelancer to make a decision to transfer to a bank account. For what they need 5 days for I don't know. 

- After this is over, the freelancer can then pay to withdraw the money to their bank account. A day later they will receive an e-mail stating that it could be up to 8 days for it to arrive!

As I said, it is almost 2019 and it should not be this long. Especially considering Upwork take 20% of your money, and a further $1 for a transfer to bank account (which is cheapest way for UK users) and then converting USD to GBP isn't normally the going rate. 

Don't get me wrong, Upwork is an amazing place for freelancers - But for freelancers who have an established profile, with great reviews and a lot of earnings. It seems to me after all of these fees and this time taken, is it really worth it?!

[tlbp]

Nope. Totally not worth it. You should stop using the platform. 

[yitwail]

Seriously, on fixed price jobs, virtually every client I work for approves milestones within a day or two after I request approval. Periodically Upwork tests reducing the 5 day security period but I’m never chosen to participate in those tests.

[andy-prendergast]

Not really helpful but thanks anyway Tonya.

[petra_r]

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@Andy P wrote:

Not really helpful but thanks anyway Tonya.

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 Well, your question "It seems to me after all of these fees and this time taken, is it really worth it?!" was a bit.... well... (insert word of choice)

Either it is worth it for you or it is not. Simples.

For starters virtually all (my) clients release way before the 14 days are up. It also does not take 8 days for withdrawn funds to hit a UK bank account. It typically takes two business days. 8 days is the time that has to have elapsed before you can ask to have a trace initiated. After hundreds of withdrawals I have not once had to do that.

Secondly, if it is "not really worth it" to you then don't use it.

Go freelance by yourself and get paid with 30 days net / 60 days net or longer terms. Or not at all.

Nobody forces you to use Upwork.

@Andy P wrote:

As I said, it is almost 2019 and it should not be this long. Especially considering Upwork take 20% of your money

It is only 20% up to the first $ 500 with any given client. After that it dops to 10% and eventually (at the $ 10.000 mark, to 5%)

Fees are something you build into your price / rate / bid.

@Andy P wrote:

 (At least this is via escrow payments, which most clients use.)

           "most clients" do not. Indeed, both of the grand total of two jobs you have completed were fixed rate, but that is hardly a representative sample, is it?

Typically on fixed rate contracts it takes under a week before I could, theoretically, hold the cold, hard cash in my greedy little hands. The vast majority of my clients release the same or next day. 5 days security hold, then I (could, if I wanted to) withdraw. If I want money fast I withdraw to my Payoneer card. By the time I get to the nearest cashpoint the money is there.

[pc-ne]

Hi guys,

I'm new to the platform and just made my first withdrawal today. The 'estimated date of arrival' is in 7 days time, which does seem quite long.  However, I'm pretty sure this is more of a latest date I can expect to receive it.

I'm using the local bank transfer option and it is going to Barclays in the UK.  In your experience, how often does it typically take?  I'm just trying to budget for the next few days and if it does take a week to arrive, I'll have to make some concessions.

Thanks,

David

[petra_r]

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@David I wrote:

I'm new to the platform and just made my first withdrawal today. The 'estimated date of arrival' is in 7 days time, which does seem quite long.  However, I'm pretty sure this is more of a latest date I can expect to receive it.

I'm using the local bank transfer option and it is going to Barclays in the UK.  In your experience, how often does it typically take?  I'm just trying to budget for the next few days and if it does take a week to arrive, I'll have to make some concessions.

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 With Royal Bank of Scotland it was always there Friday evening / Saturday morning after withdrawing on Wednesday morning.

[e816da1f]

Hi

I'm very new to Upwork, deciding how to get paid and looking at payment methods. This is useful thanks. So the transfer to a UK bank account is the best method. Is using Paypal an option?