Withdrawal not received

[grigory_britvin]

I've withdrawn my funds (transaction 220318092) but haven't received anything. My bank doesn't see any transactions even pending.

[joanbonjoc]

Hi Grigory,

I have checked and can see you made the withdrawal today. Please keep in mind that it can take between 2 to 5 business days for the funds to be loaded on your bank account. If you don`t receive your funds after 8 business days let us know here and our team will initiate a trace on your transaction, thank you.

[bookcoverdesign]

Why in the world does it take so long for the funds to be deposited in the freelancer's bank account??? PayPal does it within minutes if not in mere seconds! Come on, UpWork. What's the problem???

[becca37]

Late to the party, but I agree. Receiving funds is indeed very slow through Upwork. PayPal's near-instananeous transfers really do spoil us and set the mark high for others to follow.

[bookcoverdesign]

Hi Rebecca - Totally agree. The only explanation I can think of for UpWork's long delay is that it must somehow be beneficial to them because it's certainly not beneficial to us. But, since they apparently have no inclination to change that policy, I guess we're just stuck with it. Sure would be nice, however, if they would provide an explanation, some rational reason for hanging on to the funds for such a long period of time. What do they gain from it?

[becca37]

"What do they gain from it?" That's an easy guess: interest on the funds for those x days. Who that might be for ACH transfers -- Upwork? The receiving bank? Who knows? Not me. But somebody's potentially making interest somewhere along the line for those funds between stated release by Upwork and final receipt into the freelancer's bank account. 

And of course we're totally off the OP's question which was addressed already. {rolls eyes at self} :0)

[katrinabeaver]

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Rebecca R wrote:

"What do they gain from it?" That's an easy guess: interest on the funds for those x days. Who that might be for ACH transfers -- Upwork? The receiving bank? Who knows? Not me. But somebody's potentially making interest somewhere along the line for those funds between stated release by Upwork and final receipt into the freelancer's bank account. 

And of course we're totally off the OP's question which was addressed already. {rolls eyes at self} :0)

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No, Upwork doesn't receive interest. It's been discussed upteen times here in the forum.