oDesk Payment Methods
Submitted by sophieworks on Jun 11, 2009 – 12:23 pmOne Comment
There are several methods to receive your earnings from Odesk.
I have ordered this list according to what I deem to be more cost-effective for Philippine Providers.
The information presented here are sourced from the oDesk Help Center. For a complete discussion on the different payment methods that are available to you head on to the oDesk Help Center and every single option is discussed there.
|
Payment Method |
What is this method |
Fees |
| Paypal | Providers in most countries can register with PayPal – however, most countries Are not supported for withdrawals from PayPal to your bank account. Before activating PayPal withdrawals to your @o-desk.com email address, please check that your country is supported. Even amongst supported countries, features and fees vary widely. In addition, PayPal may limit your account until you pass their verification procedures (which vary by country – a bank account or credit card is usually required). | $1 per withdrawal.Supported withdrawal methods and fees vary widely by country.
Apply NOW for a PayPal account. |
| oDesk Debit MasterCard | The oDesk Debit MasterCard is a fully-functioning, reloadable debit card powered by Payoneer. We issue you a card with your name on it, and mail it to you. After you transfer your earnings from oDesk to your card, you can withdraw funds at any ATM with a MasterCard symbol, anywhere in the world, as well as make retail purchases anywhere MasterCard is accepted, including online. | $2 per transaction |
| Moneybookers | Moneybookers is an international e-wallet system based in the UK. When you receive a payment via Moneybookers, your Moneybookers account is instantly credited with the payment amount. You can then withdraw your money out of Moneybookers directly into your bank account, onto a credit card, or in some countries, paper cheque. | $1 per withdrawal.
Exchange rates and bank fees vary widely by country and bank. |
| Wire Transfer | Wire transfers are a well-established way to transfer funds from bank-to-bank across international borders. Most international wire transfers today use the SWIFT system.Wire transfers are fast and reliable, but for international transactions can be very expensive, and you are the mercy of your bank (and if it uses one, its intermediary bank or banks) to determine the exchange rate you will receive. They are also quite complicated and it is imperative that you enter your bank information 100% accurately. |
$30 per payment. Incoming fees vary by country and bank. |
| Direct Deposit/ACH | ACH stands for Automated Clearing House, a network for electronic financial transactions that allows for transfers to any US bank account (you can read more about ACH on Wikipedia). Many banks refer to incoming ACH transfers as “Direct Deposit”. | Free payments.For US bank accounts only. |
Read More:
- oDesk Withdrawal Methods
- oDesk Debit MasterCard powered by Payoneer
- The oDesk Guide to MoneyBookers
- The oDesk Guide to Paypal
- ACH/Direct Deposit
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Hi Sophie,
I have a question about taxes. Though I’d rather not pay them, seeing as how the bulk of them are used to finance extravagance rather than the betterment of society- are oDesk earnings taxable? :)