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

withdrawing USD to UK accounts

Highlighted
Ace Contributor
Remco V Member Since: Mar 13, 2018
1 of 34

Hi UpWork,

 

I am based in the UK and can only really withdraw GBP to my GBP bank account, which means that I have to convert my USD first. I would like to withdraw USD to my GBP bank account without UpWork converting the currency. Is this possible - if not, can we make this an option?

 

(other options like PayPal don't work for me. I would like to withdraw USDs to my local bank acount).

Moderator
Goran V Moderator Member Since: Mar 24, 2017
2 of 34

Hi Remco,

Our team is always looking for new withdrawal options, unfortunately we have only this Options for getting paid at the moment available on Upwork. Thank you!


Untitled
Ace Contributor
Remco V Member Since: Mar 13, 2018
3 of 34

Hi Goran,

 

I think it would be great if we could choose whether we wanted to convert it to GBP when transferring it to a GBP account. Can you feed this back to the team?

 

 

Moderator
Vladimir G Moderator Member Since: Oct 31, 2014
4 of 34

Hi Remco,

 

We'll share your feedback with the team but please note that apart from the payment methods Goran shared and Petra mentioned, we don't  have an option that would meet the requirements you mentioned. All the payments on Upwork are in USD and as far as I'm personally aware, in general there's no option to send funds in USD to a GBP account (or any other local currency account) without converting the funds first in order to be received.

Ace Contributor
Remco V Member Since: Mar 13, 2018
5 of 34

Hi Vladimir, I'm aware that there is no option to send funds in USD to a GBP account, but that's why I am requesting it. 

 

With every transaction I made abroad, I always get offered whether I want to be charged in Euros or GBP. Even Ryanair offers this when booking a flight. I would like to see the same thing on UpWork.

 

The default could still be converted before sending it to a GBP account, but I should have the option to request USDs if I wish to do so.

Community Guru
Petra R Member Since: Aug 3, 2011
6 of 34

@Remco V wrote:

With every transaction I made abroad, I always get offered whether I want to be charged in Euros or GBP. Even Ryanair offers this when booking a flight. I would like to see the same thing on UpWork.


 Being charged and receiving money is two completely different things.

Your money is not being sent to the UK on its own. It is mass transferred to a UK bank and mass converted to keep costs down. From UK bank to UK bank it obviously gets sent in Pounds.

 

To convert those Pounds back into Dollars and then into Pounds again in your Sterling account would cost you a massive set of bank charges.If you have a Barclays current account you can have a Dollar account with just a single Dollar minimum balance and free transfers between your Dollar and UK Pound balances.

 

If Upwork sent you US Dollars directly from their US bank the fee would be high, and then your bank would again charge you for handling Currency and converting it.

 

I'm really not sure what you are even trying to achieve because at the end, unless you have a US Dollar account, the money in your Sterling account will be Sterling.

 

Ace Contributor
Remco V Member Since: Mar 13, 2018
7 of 34

Hi Petra,

 

I have already explained this to my other message to you, but I exactly know how much my bank charges me for currency conversions... and this is nil.

 

I agree that sending and receiving money is different, but I am still sending money to my current account and I wish to do this in USD and not in pre-converted GPD. On multiple ocassions you have now tried to explain how my bank will add extra charges, but I can guarantee you that they don't. I understand that your bank account may work differently, but trust me... I know what I'm doing and what I am asking for.

 

What I am trying to achieve is to have the option to withdraw in dollars to whichever account I fancy. There is no need to pre-convert currency.

Ace Contributor
Remco V Member Since: Mar 13, 2018
8 of 34

Also why would the fee for sending USD to my UK account be high? They can just send the money like they would to their local US accounts and I will take care of the fees. ... and there will be no fees from my side.

Community Guru
Petra R Member Since: Aug 3, 2011
9 of 34

@Remco V wrote:

Hi UpWork,

 

I am based in the UK and can only really withdraw GBP to my GBP bank account, which means that I have to convert my USD first. I would like to withdraw USD to my GBP bank account without UpWork converting the currency. Is this possible - if not, can we make this an option?

 

(other options like PayPal don't work for me. I would like to withdraw USDs to my local bank acount).


 You can open a US Dollar Account in the UK and use wire transfer to withdraw. That is worthwhile only for withdrawals in the region of $ 700 - $ 800 at a time as there is a $ 30 fee...

 

 

 

 

Ace Contributor
Remco V Member Since: Mar 13, 2018
10 of 34

Hi Petra,

 

That doesn't solve my issue. I want to transfer USD to my own current account and I don't want UpWork to convert currencies. I don't want to open up a new bank account just because of UpWork.

TOP SOLUTION AUTHORS
TOP KUDOED MEMBERS