Jul 28, 2018 11:56:55 AM by Eric N
xchange rate of ksh/usd is ksh100 per dollar. when withdrawing funds ksh94.5648 is used, why?
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Jul 28, 2018 12:56:46 PM by Bojan S
Hi Eric,
Please note that the difference in exchange rates is not something Upwork can control and the rate you're seeing on your Upwork account is the most recently used one. 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.
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.
Jul 28, 2018 12:56:46 PM by Bojan S
Hi Eric,
Please note that the difference in exchange rates is not something Upwork can control and the rate you're seeing on your Upwork account is the most recently used one. 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.
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.