Hello, everybody and welcome back to my channel, Jennifer Marie, where I teach you different
ways that you can make money online working from home.
If you haven't already, make sure to subscribe to my YouTube channel for more videos just
like this one on how to become a work from home freelancer.
So in today's video, I'm going to teach you all about getting paid on Upwork.
If you're not familiar with Upwork, it is a platform where you can sell your freelancing
skills and services and apply to jobs for free.
If you want to get started and don't know how, click on the description below, and I
will link you to my full playlist on all sorts of different videos on how to create a profile
and become a freelancer on Upwork.
So I am top rated on Upwork.
And I have earned over 80,000 US dollars since I joined up work a few years ago.
So a lot of people wonder, well, if I create an account on Upwork, how do I get paid because
many different countries don't allow you to collect payment via PayPal.
Well luckily for you Upwork is completely International, and they offer so many different
payment options for freelancers internationally.
There's the direct to US Bank option, direct to local bank, PayPal Payoneer, M-Pesa, wire
transfer and Instant Pay for US freelancers.
Now I am going to show you how I get paid via Upwork.
So I currently live in Europe, and my home residence is Canada, but I have been able
to use my wise.com account to collect my US dollars, which has saved me so much money
on conversion fees, and I'm going to show you exactly how you can do that, you can open
up your own Wise account by clicking on the link in the description below.
And if you click on my link, you will get a fee free transfer of up to 500 British pounds.
Wise.com used to be called TransferWise.
And I use this all the time to be able to save on conversion fees from the US to euro
or Canadian dollars or whatever currency you use.
Okay, so how do you get paid on Upwork?
So when you go into your account, if you click on your profile icon at the top, click on
settings.
And there are two different sections we have billing and payments and also get paid.
Now billing and payments is different from get paid.
So your primary billing method is used for all recurring payments.
So this is not how you get paid.
But this is if you are paying for a service on Upwork or you are paying for connects or
you are paying for the Freelancer Plus plan.
However, if you want to get paid, you don't set up a new billing method, you set up a
payment method.
So you have to click here under User Settings get paid.
Okay, so here you have your balance, and this is the money that you can withdraw.
And here we have payment details.
So what you want to do is go to payment methods and select Add method.
And here you have different payment methods that you can set up.
They'll have one that's recommended for the country that you are a resident of so direct
to local bank, for example, but here you can see this one has a 99 cent charge per withdrawal.
We also have PayPal, and there's a $2 Upwork withdrawal fee.
There's Payoneer, also a $2 withdrawal fee, there's a wire transfer, which is a $30 fee,
and then direct to US Bank.
So even though I am not a US citizen, and I don't live in the United States, I use this
option because this option has free payments to US banks, and you can deposit to a US bank
account in USD.
Now what is so amazing with wise.com is that on the side here, you can have different accounts
with different bank details depending on the currency.
So I have a European account, a United States account, a British account and Canadian account,
all under the same wise.com account.
So again, I encourage you to sign up to wise.com because you can save so much money on different
fees not only up works withdrawal fees, but also conversion fees.
So to open up a US account, just click on open an account.
And here you can open a currency account for free under all of these different currencies.
So I already have opened up a US account.
So all you would do is click on the type of account you want to create.
And you can see that it will come with its own account number and then just click Confirm.
And you will have that available here completely for free.
So you can fill in any of these payment methods.
Maybe you prefer to do direct to local bank, but then your bank will have some charges
and can and currency conversion fees.
However, if you want to do it this way, the way I did, click Setup under direct to US
Bank.
And here you'll put in your account holder name, and you have all these different details
to fill in.
And you might not be sure what you have to fill in here.
So let's go back to your wise.com account, click on USD on your USD account.
And then you're going to click here on your current USD account details.
And here we have the options for inside the US or outside the US, we're going to choose
inside the US.
And here you have your account holder name.
So you'll put that here, then under what type of bank account is this, we'll put individual
checking.
And then we have to put in our routing number and account number.
So here we'll have the routing number and the account number.
And then you'll have Wise's address, and so you can see that this is based in the United
States.
So you can go ahead and fill in the routing number and the account number.
And then confirm the account number and then press Add bank account.
If they ask you for your address, you can put in this address here as well.
You can also add other payment methods if you want.
And you can see that originally I was doing direct to local bank.
But now I do the option via Wise because it has saved me a lot of money.
You can also choose when you receive your payment.
So you can click on edit schedule.
And then you can choose your preferred payment method.
And you can see that if I chose this one here, my first one with my local bank, there's a
there's a 99 cent withdrawal fee.
But the one I've done with ys.com, it's $0.
So you can choose to be paid quarterly, monthly, twice per month, or weekly.
So if you are doing a payment method where there is a withdrawal fee, I recommend, you
know doing monthly or twice per month or quarterly even so you can save on the withdrawal fees.
You can also choose that the payment will be sent only when you receive a certain amount
or more.
So I have it set at $100 or more, you can also maintain a reserve balance.
And you can reserve some of your balance to buy connects, I just keep this at $0.
And then you can see here when my next payment will be and you can click save changes.
If you want to get paid now you can click Get Paid now
and choose the account you want to get paid on and then click get paid.
So even though this is only $23.22 in my balance, I'm going to click Get Paid anyways.
And you see it says Congratulations, you've successfully withdrawn funds, even though
this amount is less than $100.
So there are two types of contracts that you can work with in Upwork.
There are fixed price contracts and hourly rate contracts.
So when you accept an offer for a fixed price contract, the client will place funds into
escrow.
So this is a job I'm working on right now.
This is a voiceover I'm doing for 200 US dollars, the client has this much money in escrow.
And once I click submit work for payment, and send the files to my client, they have
some time to review the work.
And then they can release the payment to me.
And when the client approves your work, it will show up as pending in your account.
Pending Payments become available to withdraw after the five day security period.
No hourly rate contracts are a little different.
If you are offered and accepted job for an hourly rate contract, you will have to install
the Upwork desktop app.
I have a full tutorial on this.
Again, if you click on the description below and go to my playlist, I will show you how
to work with hourly rate contracts.
Then you will log your hours with this app and they will be tracked in your work diary.
Clients will be billed automatically on a weekly basis.
So to view all of the jobs you're working on, you can click on Reports and then overview.
And here it will show you all of the work you're currently working on the amount that
is currently in review the amount that is pending and the amount that is available.
At the top here you'll have your timesheet and this is for any current jobs, you're doing
that our hourly rate and then your fixed price milestones and the jobs that are in progress
down below here.
So again, I highly recommend you open up your own Wise.com account.
It has saved me so much money on fees and especially on currency conversion fees, because
my local bank was taking a lot of money I was having to convert from US dollars to Canadian
dollars and then sending it to my European bank account.
So I was losing so much money.
I do plan on doing a full wise.com tutorial shortly.
So stay tuned for that.
I hope you guys enjoyed this tutorial on payment methods with Upwork.
If you have any questions, let me know in the comment section and I will do my best
to answer your questions.
Thank you guys for watching and I will see you in my next tutorial.