Approximately 3 million jobs are posted annually on Upwork, which renders it the largest freelance marketplace in the world.
What is Upwork?
Upwork is a popular online platform that connects freelancers to work with companies, agencies, influencers etc.
In a nutshell, Upwork work as a market place that connects companies looking to hire freelancers as independent contracts or work remotely.
Here’s why.
Upwork has over 15 million registered freelancers and 5 million registered clients, working every day across the world.
There is obviously need to use mode if payment that is secure and accepted.
Freelancinghas become all the rage in the current era.
If your hardworking, determine, consistent, meet deadlines and know your way around Upwork.
Then, there is no limit to how much you can earn through freelancing.
The good news, you can start working on Upwork easily.
All you need is a laptop and a WIFI connection and you are good to go!
How to get paid on Upwork?
In this article, will highlight the various kinds ofUpwork payment methods and their comparisons:
Now, the big question is:
How does a freelancer, who might be sitting in the remotest corner of the world,receive his/her payments?
Upwork payment system is tailored to protect the freelancer against theft of one’s work.
Also, it facilitate smooth relations between the client and the freelancer.
How does Upwork facilitate payments for their freelancers to ensure they get their dues on time?
As mentioned earlier, Upwork is one of the best and most reliable freelancing platforms.
It aims to deliver safe payment.
Here’s why.
To make sure freelancers get paid for their work.
How does Upwork payment works?
Once a freelance agree to work on a project.
The money isl hold in an escrow account until work is submitted and the client approved it.
Then the money is released to the freelancer.
Upwork’s model is tailored to buffer against theft of freelance work.
Table of Contents
Given below are some top and trusted Upwork payment methods. Do have a look!
1) Paypal
PayPal is a popular payment method used across the world especially dealing with online transactions for freelancers.
It’sone of the most popular money vendors currently.
With Paypal, the fees charged per transaction varies as per the country of origin as it is a third party vendor.
Good to know:
In case you belong to a country which PayPal does not offer direct bank transfers to:
you can use that money in alternate ways:
- like paying for and buying goods or
- trading and investing that money in stocks and money markets.
Why use a verified Pay Pal?
It’s important to use a Verified PayPal account to help you:
- remove the limits and
- avoid any illegal activities.
How much is Upwork charging to transfer money to Pay Pal ?
Upwork will charge $1 to transact to PayPal.
Also, payments are made instant except in a few cases when they can be delayed up to 24 hrs.
How to add Paypal on Upwork?
To add Paypal, you must;
- Go to Settings > GetPaid
- Click Add Method
- Click the Set Up button for your chosen method
- Confirm your Upwork and PayPal accounts use the same email address (if needed, update in your Upwork Contact Info)
- Choose a payment schedule and click Next
- For security reasons, your new payment method will become active in three days.
PayPal is a international payment platform.
As a result, has a segment called Paypal Global.
What does Paypal global do?
Paypal global helps to exchange Skrill funds to Paypal securely.
How does Paypal Global work?
To exchange money, you should first :
- add money in your account through Skrill and
- click on Send Money option.
- Select Paypal option post entering the PayPal address and amount
- Then, submit your request.
Thereafter, PayPal will be credit immediately to your address.
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2) Skrill
Skrill is also a reputed third-party vendor.
It’s a safe mode of transferring money.
Skrill is another platform recognize by Upwork.
What is Skrill?
It is an e-commerce platform which allowspayments and money transfers via the internet with a focus on low-cost international money transfers.
It operates just like Paypal.
How much does Upwork charge to transfer money to Skrill?
Upwork will charge a fee of $1 to transfer money from Upwork to Skrill( transaction).
Why should a freelancer open a verified Skrill account?
It’s important to open a verified account with Skrill.
Good to know: Follow the rules(terms and agreement) of Skrill before starting to send money.
How long does it take to transfer money from Upwork to Skrill?
The payments are done immediately and transferred from Upwork to Skrill.
Skrill might charge a small fee for currency conversion based on the prevailing exchange rate.
Good to know:
You can use Pay Global, to help you make an exchange, from Skrill funds to Paypal securely.
How to set up exchange money from Skill to Paypal?
To exchange money:
- First, add money in your account through Skrill
- Then, click on Send Money option.
- Select Paypal option after filling the PayPal address and amount
- Then, submit your request.
Thereafter, PayPal will be credit immediately to your address.
3) Payoneer
Payoneer offers freelancers simple freelancer payment options to pay and get paid by companies and marketplaces worldwide.
It’s a financial services company which offersonline money transfer and digital payment services.
What services does Payoneer offer?
Payoneer specializes in B2B payments.
It offers your business (freelancer) a multi currency account to pay and get paid globally, as easily as you can locally ( provides cross-border transactions in over 150 local currencies).
How Payoneer works?
To receive payments, you do the following:
- Open a Payoneer account
- In your Payoneer account, you create a payment request.
- Then, your client receives an email with your payment request and a link to the online payment application.
- The client submits the payment either online or through their bank.
- Lastly, you receive the payment to your Payoneer account.
What are advantages of using Payoneer as a freelancer on Upwork?
The advantage of using Payoneer is:
- fast,
- reliable and
- Secure
The account holders must send and receive funds into their bank account, or a Payoneer e-wallet onto a re-loadable prepaid MasterCard/Debit card which can be used online or during points of sale.
Payoneer works with a variety of companies like Upwork, Amazon and Google to send mass payouts around the world.
Where Upwork is concerned:
Upwork accepts Payoner its payment methods.
As a result, a freelancer on Upwork cantransfer their funds directly to their prepaid MasterCard.
And thereafter, one can access their money in any MasterCard branded ATMs and stores (both online and offline).
How much Upwork charge to transfer money to Payoneer?
For Payoneer, Upwork has a $2 fee as transaction charges.
How long does it for the money to be credited to Payoneer account?
It can take between 24 hours to 2 days for funds to be credited in one’s Payoneer account.
If you don’t have a Payoneer account, can you use still use Payoneer to transfer money to your bank account?
Yes, you can.
Good to know: Even if one doesn’t have a Payoneer account, one can transfer their money from Payoneer to one’s bank account.
How to add Payoneer to Upwork as a mode of payment?
To add Payoneer to Upwork;
- Go to Settings > Get Paid
- Click Add Method
- Click the Set Up button for your chosen method
- Complete the Payoneer registration process (either by creating a new account or logging in to add Upwork to an existing one)
- When you are finished, you will be automatically returned to the Upwork site
- Choose a payment schedule and click Next
Good to know: For security reasons, your new payment method will become active in three days.
4) Wire Transfer
Wire Transfer, also known as bank transfer or credit transfer.
The term ‘wire transfer’ was coined in an era when banks relied on telegraph wires for this type of money transfer.
What is Wire transfer?
It’s a method of electronic funds transfer from one person/entity to another.
For example, you can wire transfer money from a company(client) to a freelance writer account or a company, wire transfer money to an influencer account.
How Wire transfer work?
A wire transfer is done from one bank account to another through a transfer of cash at a cash office.
What advantages of of using wire transfer?
A wire transfer allows money to be transferred fast electronically from one person to another through a bank or a non-bank.
Your money is safe and readily available in your bank account( once the wire transfer is executed).
Now, you have all the information.
Good Luck.
What is your experience withdrawing money on Upwork?
Please drop your comments below.
