How to get paid on Upwork

Upwork is a popular place to find work as a freelancer – and for businesses to connect with skilled professionals for one off, project and ongoing contract opportunities.

As with all freelance marketplace sites, there are some fees connected to using Upwork to find paying projects – so no matter whether you’re a full time freelancer, or looking to build up a side hustle, you’ll want to find the best payment method for you to cut down any unnecessary fees and costs.

This guide walks through different ways you can get paid when you find gigs, contracts and projects on Upwork, such a multi-currency account from Wise Business account, to minimize fees and get the best out of your freelance projects.

• Step by Step: How to get payments from Upwork
• Payment methods on Upwork
• How Long Does it Take to Get Payments from Upwork?
• Upwork commissions from payments
• Tips on getting payments from Upwork
• Do You Have to Pay Taxes for Upwork payments?
• Which payment method should you use?

Let’s get right into it.

How to get payments from Upwork

Once you’re all set up as a freelancer on Upwork, and have started netting paying gigs, it’s important to work out how you get your money once a project is completed. Here are the basic steps you’ll need to take:

Connect a payment method on Upwork

To get your money out of Upwork you’ll need to pick and connect a payment method. We’ll look in more detail about the payment methods available from Upwork US, including the pros and cons of some popular options in a few moments. First here’s the step by step guide to connecting your preferred payment method:

1. Log into your Upwork account
2. Go to Settings and then tap Get Paid
3. Choose Add Method
4. Tap Set Up next to your chosen payment method
5. Follow the prompts to enter the information needed to set up your preferred payment type

Create a payment schedule

The easiest way to get paid through Upwork, particularly if you’re working through the platform regularly, is probably to set up a regular payment schedule. This way you can set it and forget it, as long as you’re consistently hitting the Upwork minimum withdrawal levels.

The standard payment dates on offer are:

• Quarterly (last Monday of each quarter)
• Monthly (last Wednesday of each month)
• Twice per month (1st and 3rd Wednesday of each month)
• Weekly (every Wednesday)

Your balance will pay out to your connected payment method automatically as long as you’ve hit the minimum balance level set as part of your Upwork account. You can adjust the minimum balance level yourself – it’s set at 100 USD as a standard, but there’s actually no minimum payment amount as long as your account has enough in it to pay any relevant fees.

If you don’t meet this minimum you can still withdraw your money from Upwork manually, or else Upwork will automatically pay out every 180 days if you don’t reach the benchmark set in your account.

Withdrawing Payments from Upwork manually

If you don’t want to use an automated payment schedule, or if you don’t meet the Upwork minimum payment amount set for your account, you can choose to make manual Upwork withdrawals instead. Here’s what to do:

1. Log into your Upwork account
2. Go to Settings and then tap Get Paid
3. Tap Get Paid Now
4. Choose the amount to withdraw
5. Tap Get Paid Now to confirm

Upwork Payments in Local Currencies

Upwork allows freelancers to add a local bank to get paid in a range of currencies aside from USD. Upwork’s local payment options cover 80+ countries, with a broad range of major global currencies.

As well as adding a local bank account you hold overseas, you can also add a multi-currency account to get paid in USD and quickly convert to other currencies – more on that later.

If you’re getting paid to a bank overseas Upwork charges 0.99 USD, but does mention that other fees may apply, such as charges from your own bank.

You are likely to also find an exchange rate markup is used if it’s necessary to exchange your Upwork balance from USD to your home currency. This can mean that you end up with less than you might have expected in the end.

If you’re sending money to a country not covered by Upwork’s direct to local bank service, you can also arrange to get paid by wire transfer to 180+ countries. There’s a higher fee of 30 USD for this service, and you may find additional charges apply including exchange rate markups and intermediary fees because of the SWIFT network.

Payment methods on Upwork

Upwork offers lots of different options for freelancers to get paid, depending on their preferences and the currencies they want to withdraw funds in. The exact options may vary depending on where in the world you are and how your Upwork account is set up. However, common choices include:

• Direct to US bank (ACH)
• Direct to local bank or multi-currency account (foreign currency payments)
• US dollar wire transfer
• Instant pay for US freelancers
• PayPal

Let’s look in more detail at some of the key options available within the US, including pros and cons, so you can weigh up which might work best for you.

Get paid direct to US bank by ACH

If you want to have your money deposited in USD to your regular bank account you can choose this method, with no Upwork fee as long as you’re moving USD funds to a linked USD account.

With ACH payments, your money will arrive in your bank in 2 – 5 days after the payment is requested or scheduled.

Pros and Cons of getting paid direct to US bank by ACH

Pros:

• No Upwork fee
• Scheduled and manual withdrawals available
• Easy to set up within your Upwork account

Cons:

• Payments take several days to arrive
• There’s a wait period of around 3 days from registering your USD account, to payments being made available

How to get paid direct to US bank by ACH

To get your money deposited to your regular bank account, just connect your bank as your preferred payment method following the steps we outlined above. You can then set up a regular payment schedule or make manual withdrawals.

Make sure your name on Upwork matches the name your account is held under, or payments may fail. It’ll also take a few days from adding your bank to Upwork, before a payment can be processed, so plan ahead of time.

Get paid through instant pay for US freelancers

If you don’t have the time to wait for an ACH payment, but want to get your money from Upwork in USD, another option is to use Instant Pay to a debit card.

In this case there’s a small fee to pay, but your money will be available far quicker, which may tip the balance in favor of this option if you’re in a hurry.

Pros and Cons of instant pay for US freelancers

Pros:

• Money is available in minutes
• Scheduled and manual withdrawals available
• Easy to set up within your Upwork account

Cons:

• 2 USD fee per withdrawal
• Available for Visa and Mastercard users only

How to get paid with instant pay for US freelancers

To use the Upwork Instant Pay service you’ll simply need to add your card details into your Upwork account when you’re adding a payment method. Don’t forget though, that although instant payments arrive in minutes, there’s still a 3 day wait time once you’ve connected your card, before a payment can be scheduled.

Get paid in foreign currencies to a local bank or by wire

Upwork offers the option to withdraw money direct to local bank accounts in 80+ countries, or by wire transfers to 180+ countries.

The charges for this service vary – and you’ll likely also need to pay an exchange rate markup if you need to convert your funds from one currency to another as part of the withdrawal. We’ll look at an alternative which may offer lower fees and cut the costs of currency conversion, next.

Pros and Cons of getting paid direct to a foreign bank by Upwork

Pros:

• 2 USD fee for payments made direct to local bank accounts – available in around 80 countries
• Great global coverage – get paid to more or less every country in the world
• Scheduled and manual withdrawals available

Cons:

• High fee of 30 USD for wire payments
• Exchange rate markups may apply if you need to switch currencies at any point in the transfer

How to get paid direct to a foreign bank by Upwork

To use this service simply choose to be paid direct to a local bank, or by wire transfer when you connect a payment method. You’ll be prompted to add all your bank details – and you’ll need to double check everything to ensure there are no delays or payment failures.

Get paid in USD and 50+ other currencies with Wise Business

If you need to withdraw in a range of currencies, and hold and convert USD to different currencies for onward payments and spending, you may be better off with Wise Business. You’ll need to pay a one time, low fee to open a full Wise Business account, but after that there are no ongoing charges or minimum balance requirements.

You can withdraw your Upwork funds to Wise for free in USD, and then switch to whichever currency you need using the mid-market exchange rate with no mark-ups, and no hidden charges. Whether you want to hold, send and spend USD or any other supported currency, this can work out cheaper than relying on alternative payment and withdrawal methods.

Pros and Cons of Wise Business

Pros:

• Wise Business covers 50+ currencies
• Convert funds with the mid-market exchange rate and low fees
• Free to receive USD payments to your Wise account

Cons:

• Not all global currencies are available
• Fees, services and account options vary slightly depending on your location and the transaction type

How to get paid with Wise Business

Set up a Wise Business account online or in the Wise app for a low, one time fee. You can then open a USD account balance, to receive Upwork payments for free by ACH.

Once you have USD in your Wise account you can hold, spend or withdraw your money – or convert it to any of the 50+ other currencies supported by Wise for spending and payments all around the world.

Get paid in with PayPal

The final major option for Upwork payments in the US is to choose PayPal. PayPal can be easily linked to Upwork when you set up your account, to get your money deposited conveniently into PayPal for spending or sending to others. Your exact payment options – and the fees involved with this service – will depend a bit on how your PayPal account is set up. Log into Upwork to get all the details for your specific situation.

Pros and Cons of PayPal

Pros:

• PayPal supports pretty much every global currency
• PayPal is widely accepted for online shopping, and can be used to make personal and business payments easily
• Easy to set up and use through Upwork

Cons:

• PayPal’s currency conversion and international transactions fees are typically quite high
• Withdrawing to a bank may take a few days

How to get paid with PayPal

To get paid with PayPal you’ll simply need to add PayPal as your preferred payment method when you set up your Upwork account. You can withdraw funds in USD and hold or exchange them within PayPal. You’ll then be able to withdraw your money to your local USD bank account, use your money for shopping online or in person, or send payments to others.

How Long Does it Take to Get Payments from Upwork?

How long it takes to get your money from Upwork will depend on a few things including your preferred payment method, and the type of gig you’re working on. Firstly, the type of work may make a difference:

• Hourly paid work – paid on a weekly billing cycle. The week ends on a Sunday, and payments are made available 10 days after that (the following Wednesday)
• Fixed price projects – payments are available 5 days after the client approves each milestone
• Project catalog assignments – payments are available 5 days after the client approves completion of the project

Then, once the payment is released, there may be a further wait time as it’s processed. This varies according to the payment method you choose:

In general, if you’re being paid by Upwork directly to a bank account, you’ll be able to choose a low or no cost option which may take a little longer, or opt for a higher charge to get your money faster.

Alternatively, you could choose PayPal to get your money in 24 hours, or get a Wise Business account and withdraw by instant pay to your USD balance, to get your money in minutes, and benefit from Wise’s low fee currency conversion and international payment options.

Contract Types on Upwork

There are a couple of different types of payment contracts on Upwork – hourly and fixed price.

• If you’re working on an hourly basis you’ll need to record and report each hour of work for your specific client.
• For fixed price contracts you’ll be agreeing a project in advance, and may be paid when the entire project is completed – or according to milestones you agree in advance when you take on the job.

Upwork commissions from payments

When you work via Upwork you’ll pay a fee to the platform – and depending on the payment method you choose, there may then also be a payment withdrawal fee to consider.

First, here’s what you’ll pay to Upwork as a percentage of earnings:

Then, there may be an additional fee depending on the way you choose to withdraw your money:

• Direct to US bank (ACH) — Free
• Direct to local bank or multi-currency account – 0.99 USD/transfer
• USD wire transfer — 30 USD/transfer
• Instant pay for US freelancers — 2 USD/transfer
• PayPal –  Paypal fees vary depending on PayPal account type, currency and transfer details

Tips on getting payments from Upwork

Ready to get started? Here are a few final tips:

• Make sure you connect your preferred payment method as soon as you can – there’s a 3 day wait period before any payment can be scheduled
• If you don’t set up a scheduled payment, your money will be deposited via your preferred payment option every 180 days automatically
• Compare a few different withdrawal methods to make sure you’re getting the best value for your specific needs

Do You Have to Pay Taxes for Upwork payments?

If you’re considered a US Person for tax purposes you should be reporting income earned through Upwork to the IRS in your tax return. Usually you’ll need Form 1099-NEC – but tax is a highly individual matter, so you may need to take specific advice to make sure you’re fulfilling all your obligations.

If you’re not a US citizen or resident you’ll need to check out local rules wherever you are in the world, to make sure you’ve covered all your tax duties there as well.

Conclusion: Which payment method should you use?

The best Upwork payment method for you depends on your personal preferences and requirements.

If you are happy to get paid in USD to your normal bank account, and aren’t in any hurry, the Upwork ACH transfer option may be a winner, as there’s no fee to pay. If you’re under more time pressure, and have a US Visa or Mastercard, the Upwork instant payment option may also work for you, with a relatively low fee – and money available in minutes.

For freelancers who need to exchange USD to foreign currencies, to hold, send or spend payments globally, connecting your Upwork to a Wise Business account may be a winning choice.

Withdraw for free by ACH or get a Wise debit card for instant payments to your Wise account, which you can convert to 50+ currencies with the mid-market exchange rate with no hidden fees.

Upwork Payments FAQ

What is the best payment method for Upwork?

The best Upwork payment method for you depends on your personal preferences and requirements. Common options include:

• Direct to US bank (ACH)
• Direct to local bank or multi-currency account (foreign currency payments)
• US dollar wire transfer
• Instant pay for US freelancers
• PayPal

Read this guide to learn more and pick the best option for you.

How do I get my money from Upwork?

Connect your bank account and then schedule automatic payments, or manually withdraw your money. Typically your payment options include:

• ACH payment
• Direct transfer to local bank or multi-currency account
• USD wire transfer
• Instant pay to a Visa or Mastercard
• PayPal

How are freelancers paid on Upwork?

Choose a scheduled payment, or manually withdraw your money to your preferred payment method when you need it. You can choose from options including ACH (direct deposit), Wise Business Account, PayPal or instant payments.

What are the payment methods on Upwork?

In most cases you can get paid to your US or overseas bank account, or choose a Wise Business multi-currency account, PayPal or a linked Visa or Mastercard.

How do I transfer money from Upwork to my bank account?

You’ll first need to connect your bank account to Upwork. Then you can arrange to get paid automatically, or you can request a transfer manually.

How long does it take to transfer money from Upwork to a bank account?

USD ACH payments take about 4 business days to arrive – you can also pay a higher fee for an instant transfer to a linked card.

What is the minimum amount to withdraw from Upwork?

There’s no minimum amount to withdraw, as long as the amount you’re requesting covers any relevant withdrawal fees.

What percentage does Upwork take?

Upwork fees range from 20% – 5% depending on the billing amount.