I have been using HBL account for withdrawals via LFT from Odesk/Upwork for around two years. For the first time-yesterday--- the withdrawal request failed with an error which said the withdrawls are 'temporarily unavailable' becuase of 'technical issue'. I kept trying periodically all day but no success. When i contacted help center, they said that HBL is no longer supported for LFT withdrawals now, and I will have to choose another payment method.
How is that possible, Thousands use HBL for getting payment via Upwork, Is this a temporary glithc of a permanent problem? Has HBL been exluded from the list of upwork supported banks?
Hi Ammad, I'm a customer of Standard Chartered for years but I've never received any international remittances into my account. I'm planning to send my Upwork earnings via Local Funds Transfer to Standard Chartered. It seems like you've already used this bank, could you kindly tell how much they charge per transfer? is there any additional info you would like to share with me. Thanks!
"where there's a will there's a way"
HBL is working perfectly, i am using Upwork for LFT’s since more than 3 years and it works fine for me i normally gets money in my account in a day or sometimes in 2,3 hours . But my question is why Upwork using payment service which is charging so much in respect of Exchange fees? The current USD to PKR rate is $1 to Pkr=126 but i am receiving $1 to Pkr=110. It’s a huge difference of about 16 rupees per dollar? I request Upwork to please revise these rates and find a better Payment Service like Transferwise.com etc they are paying $1 to PKR=122. I hope there are many payment services available which can be beneficial for Upwork and it’s Freelancers. Also, please forward my voice to the concern department as well if you can. Thank you
Note that the difference in exchange rates is not something Upwork can control. When a bank converts a transaction, they will mark up the interbank rate to buy or sell a currency. Online calculators will not take into consideration the mark up that is applied. Since rates constantly change throughout any given day, the rate you received is the rate offered by our bank at the time your specific transaction was processed.
Upwork must consider switching their bank because same day and time Payoneer's exchange rate makes big difference for example if LFT rate is 120 rupees per dollar then payoneer provide 128 per dollar this is what I have been witnessed for a very long time and probably you will never get to observe such huge difference due to your geo location. HBL does not have any intermediary bank involved fyi.
Calculate total amount minis lft fee with their exchange rate 0.99cents should be subtracted
Do the same for payoneer and your arrived total pkr will be higher than lft.