How to Withdraw your Upwork Earnings.

Do you feel overwhelmed by the number of articles you need to read just to create a profile and use Upwork? Then, once you've landed gigs and completed projects, how do you actually get your hands on that cash?

In this guide, we'll walk you through the ins and outs of withdrawing your Upwork earnings. You'll learn how to set up your payment method, understand when you'll get paid, and follow easy steps to cash out. We'll also cover the different ways Upwork pays freelancers so you can pick the best option for you. Whether you're new to Upwork or a seasoned pro, this article will help you get your money quickly and safely.

What is Upwork?

Upwork is a leading online freelancing platform that connects businesses with skilled freelancers across various industries. Freelancers on Upwork can set their own hourly rate for freelancers or work on fixed-price contracts. Freelancers can use the Upwork fee calculator to estimate their take-home earnings after fees. For more information or guidance, freelancers can visit the Upwork Help Center. Understanding these fees helps freelancers calculate their earnings after fees and set an appropriate hourly rate for freelancers.

Setting Up Your Withdrawal Method

To start getting paid on Upwork, you need to set up a withdrawal method. This process is straightforward and ensures you can access your hard-earned money quickly and securely.

Choosing a Payment Option

Upwork offers several payment methods to suit your needs. These include:

• Direct to Local Bank (outside the U.S.) - INR 82.93 per transfer
• Direct to U.S. Bank (ACH) - Free
• U.S. Dollar Wire Transfer - INR 4188.29 per transfer
• Instant Pay for U.S. Freelancers - INR 167.53 per transfer
• PayPal
• Payoneer
• M-Pesa

Consider setting up a backup payment method. This way, you'll always have access to your funds, even if your primary method isn't available.

Adding Bank Account Details

To add your bank account:

1. Go to Settings › Get Paid
2. Click "Add Method"
3. Choose your preferred method and click "Set Up"
4. Enter your bank account details, including bank codes
5. Select a payment schedule
6. Click "Next"

Make sure the name on your bank account matches your verified name on Upwork to avoid any issues.

Verifying Your Account

For security reasons, your new payment method becomes active after three calendar days. During this time, Upwork verifies your information to ensure the safety of your account and funds.

If your payment method is flagged for a name mismatch, contact support or add a new payment method. You may need to provide additional documentation, such as personal identification or proof of account ownership, especially if your company's bank is named after the company.

Remember, accuracy is crucial when entering your bank information. Double-check all details to avoid transfer delays or failures. If you're unsure about any information, it's best to contact your bank for clarification.

By following these steps, you'll be well on your way to withdrawing your Upwork earnings easily.

Understanding Upwork's Payment Schedule

Upwork's payment schedule is designed to be straightforward and secure. It's important to know how to calculate your earnings and when you'll receive your hard-earned money.

Weekly Payments

For hourly contracts, Upwork follows a weekly billing cycle. Here's how it works:

1. The billing week starts on Monday at 00:00 UTC and ends on Sunday at 23:59 UTC.
2. On Monday afternoon UTC, Upwork invoices your clients.
3. Clients have until Friday to review the work and pay.
4. Your earnings will become available on Wednesday.

This process includes a security period to protect all users and resolve any disputes. For hourly contracts, your funds typically become available 10 days after the end of the billing period.

How to withdraw money from Upwork

Manual Withdrawals

You don't have to wait for automatic payments. You can withdraw your available balance anytime using the 'Get Paid Now' option. Here's how:

1. Go to Settings › Get Paid
2. Click the 'Get Paid Now' button
3. Choose the amount to withdraw
4. Click 'Get Paid Now'

Minimum Withdrawal Amounts

Good news! There's no minimum withdrawal amount on Upwork. You can withdraw any sum available in your account using the 'Get Paid Now' button. However, keep in mind that automatic withdrawals only happen when your balance exceeds a specific limit (e.g., INR 8376.57 or more) on your scheduled withdrawal date.

Remember, different payment methods have varying fees. For example, direct to a local bank outside the U.S. costs INR 82.93 per transfer, while direct to a U.S. bank (ACH) is free. Choose the method that works best for you and your earnings.

Step-by-Step Guide to Withdrawing Funds

Accessing the 'Get Paid' Tab

To start withdrawing your hard-earned money, log in to your Upwork account. Once you're in, look for the 'Get Paid' tab in the top menu bar of your dashboard. Click on it to access your payment options.

Selecting Withdrawal Amount

Under the 'Get Paid' tab, you'll see a 'Get Paid Now' button. Click on it to initiate the withdrawal process. You can choose how much you want to take out. There's no minimum amount, so you can withdraw as little or as much as you need.

Confirming Transaction Details

Before you finish, double-check all the details. Make sure the amount and payment method are correct. Once you're happy, click 'Get Paid Now' to complete the process.

Remember, different payment methods have different fees. Direct to U.S. Bank (ACH) is free, while other options like Direct to Local Bank outside the U.S. cost INR 82.93 per transfer. Choose the method that works best for you.

Upwork usually processes your request within a few hours after you submit it. However, it can take up to 2-4 business days for the money to show up in your account. If you don't see your money after 8 business days, reach out to Upwork's support team for help.

Overview of Upwork Payment Methods

Upwork offers several payment methods to help you get your hard-earned money quickly and securely. Let's look at the main options:

Direct to U.S. Bank (ACH)

This method lets you transfer your earnings directly to any U.S. bank account that can receive ACH transfers. It's fast, secure, and best of all, free! Most banks don't charge fees for this, but it's a good idea to check with yours.

To set up this method:

1. Go to Settings › Get Paid
2. Click "Add Method"
3. Choose Direct to U.S. Bank and click "Set Up"
4. Enter your bank details
5. Pick a payment schedule

Your new payment method will be ready to use after three days for security reasons.

Direct to Local Bank

This option lets you move your earnings straight to your local bank account in your own currency. It costs INR 82.93 per withdrawal but is often the fastest and cheapest way to get paid.

To add your local bank:

1. Go to Settings › Get Paid
2. Click "Add Method"
3. Select Direct to Local Bank and click "Set Up"
4. Enter your bank details, including bank codes
5. Choose a payment schedule

Payments usually take up to seven business days to arrive.

PayPal and Other E-Wallets

PayPal is a popular choice for quick, secure payments. To use it:

1. Go to Settings › Get Paid
2. Click "Add Method"
3. Choose PayPal and click "Set Up"
4. Sign in to your PayPal account to verify
5. Pick a payment schedule

Remember, your PayPal name must match your verified Upwork name.

Other e-wallet options like Wise (formerly TransferWise) are also available. These can be great for international payments, offering multiple ways to pay and real-time currency conversion.

Each method has its pros and cons, so choose the one that best fits your needs and location.

Getting paid for your hard work on Upwork is now easier than ever. With various withdrawal methods at your fingertips, you can choose the one that suits you best. Remember to set up your payment method, keep an eye on the payment schedule, and follow the simple steps to cash out your earnings for quick access to your money.

As you continue your freelancing journey, make the most of Upwork's user-friendly payment system, designed to ensure timely payments.

Winvesta provides you with a local US bank account where you can easily receive ACH payments. Receive your payments in as little as 1 day, paying as low as $3 + 0.99%.

Frequently asked questions about Upwork earnings.

1. How can I transfer my earnings from Upwork directly into my bank account?

First, ensure you have added a Direct to Local Bank account under Settings and then Get Paid. This method takes about 3 days to activate. Once set up, you can withdraw funds anytime by selecting 'Get Paid Now' and choosing your local bank account, where you'll also see the latest currency conversion rate applicable to your withdrawal.

2. Is Upwork Safe for Freelancers?

Overall, Upwork is considered a legitimate and safe platform for freelancers. It offers several protections:

• Payment protection for hourly and fixed-price contracts when proper procedures are followed.
• A secure payment system that handles transactions between clients and freelancers.
• Verification processes for both clients and freelancers.
• Dispute resolution services.

Freelancers should still follow best practices like:

• Accept work only through Upwork's platform.
• Vet potential clients carefully.
• Never share personal financial information.
• Use Upwork's time-tracking tools for hourly contracts.

3. How Does Upwork Count Hours?

Upwork uses its desktop app to track time for hourly contracts. The app:

• Takes random screenshots every 10 minutes.
• Logs keyboard and mouse activity.
• Records total time worked in 10-minute billing segments.

Freelancers must use the app to qualify for Upwork's hourly payment protection. Manual time entry is allowed but doesn’t offer the same protection. The tracked hours are visible in the Work Diary, which clients can review.

4. How to start earning on Upwork in India?

To start earning on Upwork as a freelancer in India:

• Create a strong profile highlighting your skills and experience.
• Set a competitive hourly rate for freelancers based on your expertise and market demand.
• Take Upwork skills tests to showcase your abilities.
• Search for relevant jobs and submit tailored proposals.
• Begin with smaller projects to build your reputation.
• Deliver excellent work to get positive reviews and repeat clients.
• Improve your skills over time and raise your freelance hourly rate.

A key to success is crafting compelling proposals that show you understand the client’s needs. As you gain experience, you can bid on higher-paying projects and grow your income.

By focusing on these strategies, freelancers can build a successful job career on Upwork while managing their freelancer charges and fees paid.