Understanding Payment on Upwork

Overview

Upwork is a reliable platform that has established strong and flexible payment systems to ensure that freelancers are paid fairly and promptly for their work. Here’s a quick guide:

Hourly Projects

For hourly projects, you’ll use the Upwork Desktop App to track your time. At the end of each week, your hours are automatically invoiced to your client, who then has a short review period. Once the review period ends, funds are available for withdrawal after a 5-day security period.

Fixed-Price Projects

With fixed-price projects, your client will deposit (or “escrow”) funds for each milestone or for the entire project. Once you’ve submitted the work and it’s approved by your client, funds are released to you. The release makes the funds available for withdrawal after a 5-day security period.

Withdrawal Methods

• Direct to U.S. Bank (ACH): This method is free and usually takes 1-2 business days.
• Direct to Local Bank: This type of transfer costs $0.99 per transfer and usually takes 1-3 business days.
• Wire Transfer: This costs $30 per transfer and takes 1-3 business days.
• Paypal: The transfer is free and almost instant, but Paypal may charge you a small fee.
• Payoneer: The transfer is free and almost instant, but Payoneer may charge you a small fee.

Upwork Fee

Remember, Upwork also charges a service fee, deducted before the money reaches your account:

• 20% for the first $500 billed with the client
• 10% for lifetime billings with the client between $500.01 and $10,000
• 5% for lifetime billings with the client that exceed $10,000

In short, Upwork provides a safe and secure environment for payments, benefitting both clients and freelancers.