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How to Withdraw Your Earnings on Upwork

Updated on December 27, 2016

So how do you cash out your earnings?

Here are six methods by which you can withdraw your money:

1. Local Fund Transfer (to your local bank account)

2. Payoneer

3. Skrill

4. PayPal

5. Direct Deposit (ACH)

6. Wire Transfer (USD)

Each of this method will be discussed on a separate post. However, I highly suggest using LFT and PayPal for your withdrawals.

How to Cash Out Your Earnings on Upwork

Once you have landed your first job and got paid, the money will be reflected to your Upwork account. You can schedule the payment or simpl withdraw it right at that instant.

The schedule of payments for hourly jobs are available on your account based on the work week schedule. This means that the work that you did during Week 1 will be available on Week 3. Payment is every 2 weeks if you are on an hourly contract. The week in between allows the client to review your work and for the contractor to dispute if ever there is a need.

Payments other than those under the hourly contracts will be reflected on your account when the client's payment has been processed. This usually takes a week and you will also see the date when the payment will be credited to your account.

Upwork offers various methods by which you can withdraw funds the most convenient way possible.
Upwork offers various methods by which you can withdraw funds the most convenient way possible.
Local Funds Transfer is an easy way to cash out your money on Upwork.
Local Funds Transfer is an easy way to cash out your money on Upwork.

How to Withdraw Upwork Earnings via Local Funds Transfer (LFT)

I highly recommend Local Funds Transfer because this is the easiest, cheapest, and most convenient method to withdraw your funds.

Choosing LFT allows you to directly deposit your money from Upwork to your local bank account.

Advantages of LFT

1. Easy to set up. Just enter your branch code.

2. Most banks are affiliated and may not charge any incoming fees.

3. Payments are on time.

Facts that you need to know about Upwork LFT

1. Currency conversion is based on Upwork exchange rate and is a bit higher than PayPal's.

2. Send in your request before 12nn UTC for your request to be processed on that same day. Initial withdrawal is free. Succeeding costs $0.99.

3. LFT payments arrival schedule may take from 0-4 business days depending on your location. Based on my experience here in the Philippines, LFT takes 2-4 business days. But mostly, it takes only 2 business days. Provided that there are no holidays.

4. The name of your bank account must be the same one as your Upwork name.

When registering for LFT you will need the following:

1. Bank code (can be searched on Upwork)

2. Account number

3. Account name

4. Address of the account holder

Withdrawing from the Philippines?

BPI does not charge any fee when the money is credited to your account. When I withdraw funds on a Wednesday, it usually arrives on Friday except when there are holidays in between since we are only counting business days.

Unionbank withdrawals may arrive earlier.

How to Withdraw Upwork Earnings via Payoneer Debit Mastercard

Payoneer is a third-party company that is used by Upwork for mass payments. This may be recommended to freelancers residing in Belarus, Colombia, Pakistan, the Russian Federation and Ukraine.

Payoneer is an international debit Mastercard that can be used anywhere - except for India where this was banned. Funds from Upwork are sent directly to your card. I won't recommend this to freelancers in the Philippines because the charges are steep.

Visit the official site of Payoneer and check out if your country is supported. This is also where you can find the fees.

What you need to know:

1. Verify your account before sending your funds from Upwork to your card.

2. Each freelancer must have his or her own Payoneer card. Sharing is not allowed.

3. Money transfer from Upwork to Payoneer takes two days. There is also an option to expedite at an additional fee.

4. There is a $2 charge for every withdrawal from Upwork. There may be other fees when withdrawing via ATM.

Skrill is another method to withdraw your earnings on Upwork.
Skrill is another method to withdraw your earnings on Upwork. | Source

How to Withdraw Upwork Earnings via Skrill

Skrill, previously Moneybookers, is another payment method offered by Upwork. You will need to setup an account at Skrill if you do not have one. Skrill account activation may take 4 days.

What you need to know:

1. Upwork charges $1 USD for every withdrawal.

2. There may be separate charges by Skrill.

3. When signing up for a Skrill account, make sure to use your real information.

4. Use the same email address on Upwork and Skrill.

5. Before withdrawing, see to it that your Skrill account is active and is able to accept funds because Upwork will not be able to reverse the transaction.

6. Use USD as your main currency.

Check out the official site of Skrill.

How to Withdraw Upwork Earnings via PayPal

PayPal is another convenient method by which you can withdraw your earnings on Upwork. But first, you need to have a verified PayPal account. To have a verified PayPal account, you must add a valid debit card or credit card so that the limitations on withdrawal and accepting funds.

Things to know on PayPal Withdrawal:

1. Upwork charges $1 for every transfer of funds to PayPal.

2. Transfer from Upwork to PayPal is immediate but there are times where it takes about 24 hours.

3. Save on conversion expenses by setting your main currency to USD.

4. Link your Upwork email to your PayPal account. If you are a new user, use the same email that you used on Upwork.

5. Check out PayPal charges and fees when withdrawing to your local bank account.

For freelancers in the Philippines, it is best to use Unionbank EON for your PayPal withdrawals. Withdrawal charge is Php50 if you are withdrawing below Php 7,000.00. Free for withdrawals that are Php 7,000 and up. Withdrawal on Unionbank EON ATM may also be charged.

Note: Unionbank EON charges an annual fee of Php 350.

Which withdrawal method is the most convenient for you?

Which withdrawal method is the most convenient for you?

See results

How to Withdraw Upwork Earnings via Direct Deposit

Automated Clearing House (ACH) allows transfer of funds to any US bank account.

What you need to know:

1. There are absolutely no fees as long as you qualify.

2. You will need a W-9 or W-8BEN.

3. Funds will arrive in your account in 2-5 days.

4. When adding bank information to Upwork, make sure that everything is correct because you can no longer edit it.

How to Withdraw Upwork Earnings via Wire Transfer

Wire transfers allows you to make bank-to-bank transfers. If you are a freelancer with a bank account outside US but using the SWIFT codes, you are qualified.

What to remember:

1. Upwork charges $30 for every withdrawal.

2. Your bank may have an additional fee for the wire transfer.

3. Check your bank for more details.

4. Upwork name and bank account name must match.

How to Add Withdrawal Method on Upwork


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    • goddess888 profile image

      goddess888 19 months ago from Philippines

      Just add your bank account via Local Fund Transfer (LFT) option.

    • profile image

      cam 21 months ago

      how do I withdraw form Upwork using BPI?