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withdrawing USD to UK accounts

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

Ehm, I don't get that..


They just send it in USD to my UK account... and I change it to GBP (only change currencies once). If it is coming to a UK account,  and then to my account, why do I pay to convert the money if it's in GBP already?

Active Member
Liam M Member Since: Jul 26, 2017
22 of 34

Hey Remco,

Although it sounds simple enough, there's no real mechanism to send USD directly to a GBP account except via SWIFT - and some banks even reject SWIFT payments if they're not in the currency of your account.

You have two other options that you don't seem to be aware of yet.

Firstly, probably not the best as it's just another step like an UpWork withdrawal (except a lot faster):

- Withdraw USD to Payoneer
- Send the funds, converted to GBP on Payoneer to your account (2% fee) and it's there within 6 hours thanks to the UK's Faster Payment's system.

Secondly, you can use Revolut and your Payoneer Card:

All you need to do in this case is top up via debit card to Revolut in USD and there are zero charges. You can then transfer it to your UK Bank Account and it will be with you within half an hour, converted at Revolut's amazing rates (seriously! check them out).

Unfortunately, even with GBP transfers UpWork use the antiquated BACS system and although these should (as per banking rules) take three days, they regularly take 4 to 5 with UpWork.

I would very much recommend you looking into the Revolut solution or even TransferWise and their new Debit card.

There are a vast array of options, it's just about working out which one is best for you Smiley Happy

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

Hi Liam,


I'm a big fan of Transferwise and already have an account with them. Unfortunately they don't accept micro verification payments and Upwork doesn't accept their confirmation of ownership documents, so there is nothing I can do here. There is no way I can send money directly to them.


With regard to Revolut, their signup process was slow and wasn;t working properly - hence I have never used them. Revolut is very similar to Monzo. Payoneer is not an option. There is a $2 withdrawal fee PLUS all the other fees listed here:


I used to send GBPs to Europe and the USA all the time - using conventional banking - and this wasn't an issue, so unless I am missing something here - it shouldn't be too difficult.

Community Leader
Joanne B Member Since: May 5, 2018
24 of 34

Hi Remco, 


I'm a little confused as to why you object to PayPal so much. The rate they use isn't that bad!

For example, I transferred $18.52 to my PayPal account and got £13.38. At the exchange rate, it should have been £13.90. Sure I lost 52p but come on that is peanuts. And yes I paid a $2 fee but again it's not a fortune. 


It is touch of a button to move your payments from here to PayPal or it will automatically go there on your set payment dates. Then it's touch of a button to move it from PayPal to your bank account. Especially if you juat download the PayPal app to your phone. 


I can understand it's not what you want but believe me when I say UpWork are not going to change, long story, not going into it. Also it is quite feasible that even if UpWork did change so you could be paid USD to your account, they're going to charge you for doing it!

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

Hi Joanne,


Thanks for your reply. I just really hate paypal and there is nothing i can do about it. A $2 fee plus another £0.52 means you get 96.25% of your pay and this doesn't even include the $2 fee.  If you were to include the fee it would be under 85%. Also, note that this is a 96% rate on a small amount. what is the fee on - lets say - $600? 


Sorry, but all I need is UpWork to say that I can request a USD amount to any account. This should not be difficult. 

Community Leader
Joanne B Member Since: May 5, 2018
26 of 34



I understand what you're saying.


Having said that, UpWork is not going to change to suit you. 


Good Luck with it though.

Active Member
Samuel C Member Since: Jan 20, 2018
27 of 34

I really can't fathom your reasoning. Yes of course 52 pence is peanuts - but you were only withdrawing £13 Smiley LOL


If you earned £50,000 over the course of a year, you'd be paying almost £2000 in Paypal fees. Hardly peanuts at all. 


Compare the fees as a percentage, not for the amount it costs to withdraw £13. This makes zero sense. 

Active Member
Liam M Member Since: Jul 26, 2017
28 of 34


There are absolutely no fees for topping up using Payoneer with Revolut nor does Payoneer charge you a fee as your card would have UK BIN and your top up would be in USD via a USD Payoneer Card (which is also free) - I use Revolut for this method each and every week.

The only fee associated with this method is $2 which is what UpWork charges to withdraw. 

TransferWise do accept microdeposits and I was able to successfully verify my account without any issue.

Active Member
Samuel C Member Since: Jan 20, 2018
29 of 34

Liam thanks so much for highlighting this method with Payoneer and Revolut, it's excellent and exactly what I've been spending a lot of time searching for — the cheapest AND quickest way to withdraw funds. 


One question. So you have tried both Transferwise and the Payoneer-Revolut method, and think the latter is the best option of the two?

Active Member
Ruxandra F Member Since: May 3, 2018
30 of 34

Hi Samuel, 


Any luck with choosing a transfer method? 

I keep reading the posts about this topic but I can't find enough information so I am still cought between revolut-pioneer-transferwise and opening an account in the US. 

If you managed to choose the best option for yourself and can share the benefits of it and why it is better that direct bank transfer it would be awesome!