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

Withdrawal fee $30?

Community Leader
Chad R Member Since: Mar 19, 2015
21 of 24

Not sure where you take offense to EIN's not being easy to obtain.

 

All it takes is a phonecall.  Many, many out-of-country publishers need to go through this step in order to sell via Amazon etc.

 

Granted, as Preston notes, this is not anywhere as easy as working within the confines of the local system with which you're most familiar, but on the scale of filing in small claims court, or responding to a request for more information from USCIS, making one phone call and answering questions, or telling the representative you'll call back as soon as you obtain the information they're requesting because you just don't have it on hand right this second is a breeze.

 

You are correct though, that you may have to keep a percentage of your capital here, but that's hardly a hardship.  No matter what country you're in, the bank usually requires you to keep a minumum balance unless you have a substantial balance.  I know because I have accounts in three countries and am not rich enough to deposit substantial balances in any of them.  Thus I am required to keep minimum balances.

 

There are a variety of methods around paying to get your own money, including obtaining a debit card you can then use at your local ATM.  You have to deal with ATM fees (as I do whenever I travel out of country--thank you BOA) but most countries have agreements with US banks (or have banks that are outright owned by US banks) and fees are either non-existent or lower than out of network ATM fees.  For example I travel to the Carribbean fairly often.  The Bank of Nova Scotia, a large and powerful, and popular bank in the Carribean is either a subsidiary of BOA or is owned outright by them.  So I use my card at Bank of Nova Scotia ATMs while I'm in the Carribean so I don't get hit by the fees.  I still have to pay an international transaction fee but that's miniscule by comparison.

 

My point is there are many ways around this that don't involve paying $30 every time you want access to your own money, and no matter what anyone has told you, you absolutely can get a bank account without being a citizen, permanent resident, or otherwise ever setting foot in the country. 

 

This is not legal advice btw, and should not be construed as such.

Community Guru
John K Member Since: Feb 17, 2015
22 of 24

Having the good fortune to be a US citizen, I had no clue many freelancers outside the US were subject to a monthly $30 money transfer fee. But now that Connects and Membership are imminent, I put 1 + 1 together and perhaps understand a little better some of the reasoning behind the $10 'Plus' membership. I imagine the thinking was along the lines of, "They already pay $30 a month. What's an additional $10?".

__________________________________________________
"No good deed goes unpunished." -- Clare Boothe Luce
Community Guru
Preston H Member Since: Nov 24, 2014
23 of 24

re: "I had no clue many freelancers outside the US were subject to a monthly $30 money transfer fee"

 

You can read oDesk's help document detailing available payment methods and associated fees here.

 

John, I really don't think many freelancers pay $30 transfer fees.

 

Isabelle does because she is doing overseas wire transfers using one of the most expensive options available for withdrawing money from oDesk.

 

There are many other, far less expensive options that non-U.S. freelancers use to withdraw money, including PayPal, Skrill, Payoneer. These withdrawal methods DO have fees associated with them, but not $30 flat fees.

 

Of course, if the method they are using is a percentage-based fee, and the amount they withdraw is substantial, then it could definitely add up. But it would have to be a substantial amount of money. For example, if a withdrawal method is 1%, there would be a fee of $30 if a contrator withdraws $3000.

Community Leader
Pravin K Member Since: Jan 11, 2015
24 of 24

@Preston H wrote:

You can read oDesk's help document detailing available payment methods and associated fees here.

 



Preston,

 

Wow. Thanks a lot. All these time I was using Paypal. I didn't know about the local fund transfer to be the best and cheapest way of transferring funds. My bad, we didn't explore deep into other cheap options. My teammates wasted several hundred dollars for just transferring. I was saving the money for rainy days. I will share this good news with them right away. YOU HAVE SAVED ME FROM LOSING A SUBSTANTIAL AMOUNT OF MONEY.

 

THANK YOU ONCE AGAIN.

 

Pravin

TOP SOLUTION AUTHORS
TOP KUDOED MEMBERS