Apr 23, 2019 06:52:27 AM by Laura R
Hello, fellow freelancers!
I was trying to get my first payment with a customer. I'm in Europe, changed my settings to a European bank account + added my European cc, still when my customer wants to pay, he only gets dollars.
1. Is USD the only option in which he can pay me, and then it gets converted?
2. or is there a way in which he can pay in Euros straightforward?
3. If he has to pay in USD and then the money gets converted, what's the conversion rate/fee?
Thanks to all in advance!
Lau
Solved! Go to Solution.
Apr 23, 2019 07:00:40 AM Edited Apr 23, 2019 07:01:32 AM by Dimitri H
Every payment on Upwork is made in USD and the conversion rate from USD to Euro or from Euro to USD is determined by the bank. It's nothing Upwork are able to control.
Apr 23, 2019 07:00:40 AM Edited Apr 23, 2019 07:01:32 AM by Dimitri H
Every payment on Upwork is made in USD and the conversion rate from USD to Euro or from Euro to USD is determined by the bank. It's nothing Upwork are able to control.
Oct 19, 2019 06:16:56 AM by Celine R
Apr 28, 2020 12:03:24 PM by Jose L
Hi Dimitri,
Just reading this thread and having had some disapointing experience with Upwork fees, I slightly differ from your solution given. The bank transaction type that Upwork is using makes up around 3 to 3.5% overcharge from the Inter bank rate. To me this tranfer modality is an Upwork service provider choice, not a inveitable truth.
The "Upwork reality" is that any payment done in a different currency than US Dollars accounts for:
1. the payment
2. +3% Upwork´s bank choice (potentially getting something back from it)
3. +3% Service fee to the client
4. +10 to 20% Service fee to the freelance
Bottom line is 3 extra payments on top of "the payment" , running up to 26% each payment.
on a monthy payment of :
£3000 = £480 to £780 monthly total Upwork service fee
£2000 = £320 to £520 monthly total Upwork service fee
£1000 =£320 to £260 service fee
Clients we are looking for solutions to this.
Apr 28, 2020 12:10:46 PM by Jose L
The point is that it is extremelly hard to know how to pay efficiently Through Upwork, (as one os the freelancing providers out there), unless clients are willing to pay the "Upwork selected bank rate" which is not the best option in the market for payers.
Again, this is not a desirable service for clients with regular payments to make.
I wonder if it is just me. As when Upwork´s service desk is contacted they say they understand it but they don't give any answer.
Is it reasonable to ask for different way to charge clients? otherwise, this is the new normal way to do business?
Apr 28, 2020 12:50:02 PM by Nichola L
Jose L wrote:The point is that it is extremelly hard to know how to pay efficiently Through Upwork, (as one os the freelancing providers out there), unless clients are willing to pay the "Upwork selected bank rate" which is not the best option in the market for payers.
Again, this is not a desirable service for clients with regular payments to make.
I wonder if it is just me. As when Upwork´s service desk is contacted they say they understand it but they don't give any answer.
Is it reasonable to ask for different way to charge clients? otherwise, this is the new normal way to do business?
_________________________
Clients have no option but to pay in U.S. dollars. Freelancers in Europe have various options: they can withdraw their money in dollars to places such as PayPal or Payoneer, normally with a $2.00 charge, or they can have Upwork release the money directly into their European accounts, which costs $1.00, but the exchange rate is usually quite low. I prefer withdrawing into my PayPal account. But whatever one decides, payment is made in U.S. dollars and this is not going to change, so live with it.
Apr 28, 2020 12:58:22 PM by Valeria K
Hi Jose,
While you can select to pay in your local currency so that billing to your card is converted, prices, budgets and rates on Upwork are still in U.S. Dollars.
Upwork displays foreign currency conversion rates available to you at the time of payment. These rates adjust regularly, sometimes a few times a day based on market conditions. I understand your frustration, but, unfortunately, conversion rates isn't something Upwork has control over.
I understand this is not the reply you