How to Withdraw Money from Upwork

PayPal: The most well-known option, but not always the most convenient

PayPal is probably the first option you considered, and that’s no coincidence. It’s fast, available in most countries, and money reaches your account within minutes. Upwork doesn’t charge additional fees for PayPal withdrawals, which sounds attractive.

But here’s the problem: PayPal charges its own withdrawal fee, which can range from 2 to 7 dollars depending on the amount. Additionally, when you convert your dollars to local currency, PayPal uses its own exchange rate, which is usually 3-4% less favorable than the official exchange rate. For a freelancer withdrawing 500 dollars monthly, this could mean losing between 20 and 35 dollars each month just on the exchange rate.

Another important point: in some countries in the region, withdrawing money from PayPal to local bank accounts can take several business days, and some banks even charge additional fees for receiving international transfers.

Direct bank transfer: Seemingly simple, but with hidden surprises

Direct bank transfer seems like the most traditional and “safe” option. Upwork sends money directly to your bank account, no intermediaries. Sounds perfect, right?

Reality is more complex. Upwork charges a flat fee of 30 dollars for each bank transfer, regardless of the amount. This means if you withdraw 200 dollars, you’ve already lost 15% just in fees. Additionally, your local bank will probably charge an additional fee for receiving the international transfer, which can range between 15 and 50 dollars.

As if that weren’t enough, banks also apply their own exchange rate when converting your dollars to local currency, and this is usually even less favorable than PayPal’s. The process is also slow: it can take between 3 and 10 business days to see the money in your account.

For freelancers handling small to medium amounts, direct bank transfer simply isn’t practical or economical.

Airtm: The alternative that's changing the game for freelancers

This is where Airtm makes the difference. As a platform designed specifically for people facing financial restrictions who need better options to manage their dollars, Airtm offers a smarter solution for withdrawing money from Upwork.

The process is simple: you connect your Upwork account with Airtm, and you can withdraw your funds directly to your Airtm digital wallet. From there, you have multiple options: keep your dollars as protection against inflation, exchange them to your local currency when the exchange rate is more favorable, or send them to your local bank account.

The advantages are clear: Airtm doesn’t charge the prohibitive fees that traditional bank transfers charge, and offers more competitive exchange rates than PayPal. Additionally, you have control over when and how to use your money, something especially valuable if you live in a country with high inflation or currency restrictions.

Airtm’s flexibility also allows you to diversify your withdrawal options. You can send money to family members, pay for services, or even use your balance for online purchases, all from the same platform.

Comparing real costs: A practical example

Let’s imagine you’re a graphic designer who withdraws 800 dollars monthly from Upwork. Let’s see what you’d receive with each option:

With PayPal: After the withdrawal fee (approximately 5 dollars) and the less favorable exchange rate (3.5% loss), you’d receive the equivalent of about 767 dollars in your local currency.

With bank transfer: After Upwork’s fee (30 dollars), your bank’s fee (25 dollars average), and the unfavorable bank exchange rate, you could receive the equivalent of about 720 dollars.

With Airtm: With lower fees and better exchange rates, you’d receive approximately the equivalent of 785 dollars in your local currency, plus the flexibility to keep part in dollars if you prefer.

The difference is significant, especially when you multiply it by 12 months. We’re talking about hundreds of additional dollars in your pocket each year.

Additional factors to consider

Beyond costs, there are other important factors. Speed is one of them: while Airtm and PayPal process withdrawals in minutes or hours, bank transfers can take a full week.

Reliability is another crucial point. PayPal has a history of freezing accounts without warning, especially in countries with complex regulations. Bank transfers, while secure, depend on banking systems that can have interruptions. Airtm, on the other hand, is designed specifically to function in complex financial environments and offers multiple backups.

Your best financial ally is waiting for you

Withdrawing money from Upwork doesn’t have to be a source of stress or income loss. In a world where every dollar counts, especially for those of us facing inflation and financial restrictions, having access to tools that truly work in our favor makes the difference.

Airtm isn’t just another way to withdraw money; it’s a gateway to greater financial freedom. It allows you to maintain control over your income, protect your purchasing power, and access options that traditional financial systems simply don’t offer.

The next time you see that Upwork notification confirming your payment, you won’t have to resign yourself to losing a significant portion of your income. With Airtm, you can ensure that the fruit of your labor arrives complete where it really matters: your financial future.

The money you earn working hard deserves a platform that works just as hard for you. Airtm is here to do exactly that.