For freelancers, including freelance writers working on Odesk, the site has launched a special withdrawal method for Indian contractors. This is the Local Funds Transfer method, using which you can transfer your Odesk incomings or funds directly to your Indian bank account in Rupees. Before this method, the only feasible method for Indian contractors was to withdraw their funds into their PayPal account with a flat fee of $1, and from PayPal withdraw the sum finally to their bank account in Rs.
No Need of PayPal for Odesk
With this new withdrawal method you do not have to bother with PayPal at all. So even if you do not have a PayPal account, you can work on Odesk and get access to your funds. Previously, that was not an option. With PayPal, you needed to provide PayPal with your credit card details before you could get an active PayPal account – now you are freed from that hassle. With Odesk money local funds transfer, all you need to enter is your bank account number, and the IFSC code of your bank’s branch – which is publically available.
Fee for Odesk Local Funds Transfer
There is a flat fee of $1.99 for each transaction, and Odesk says that their exchange rates are the very competitive, better than at PayPal too. They also offer direct customer support when you withdraw your money using this method via live chat. The amount will be transferred within 3-5 business days, but if it is not, or if there is some other problem, you have the assurance of immediate customer support. As a special offer, you can make your first transaction by withdrawing your money using this method for free – which saves you the $1.99 fee.
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