After the merger of oDesk and Elance, they have become the largest freelance marketplace on the Internet. oDesk has been the first priority of freelancers from all over the world due to the great friendly environment of the platform. If you have been working at oDesk and have earned some money, then you might need to withdraw your earnings from oDesk.
For common withdrawals, oDesk charges a small transfer fee that is $2 for withdrawal to Payoneer MasterCard. But if you own a US Bank account, then withdrawal of earnings to US based bank accounts is free from the oDesk side. If you belong to United States, then you just need to link your bank account with oDesk to withdraw your earnings there.
But what can I do if United States isn’t my home country? The answer is, still you can withdraw your oDesk earnings without paying any withdrawal fee and Payoneer has made that possible for you, except for the citizens of India and a few other countries.
So to save $2 from oDesk and a few more bucks at Payoneer’s end each time you withdraw an amount from oDesk, follow instructions written in this guide to get this trick working for you.
When your Payoneer MasterCard is approved, Payoneer provides you a virtual bank account number too and that account number is maintained in a US bank, at Bank of America at present. It doesn’t matter either your Payoneer card has been approved directly or via oDesk, you are given an account number along with a routing number. This account is linked to your MasterCard and whenever you receive money in that account, the funds are loaded to your card.
Commonly, oDesk users use the Payoneer card to receive their oDesk earnings and for that, they pay $2 per withdrawal. If you own a Payoneer MasterCard and have earned some money in oDesk, then just link your US Payment Service account with oDesk to receive the funds for free.
From oDesk side, the transfer is free and US Payment Service will charge 1% of the transferred amount. All remaining balance will be loaded to your card; otherwise Payoneer may deduct some charges too, in addition to the $2 withdrawal fee from oDesk if you use your Payoneer MasterCard directly to receive the funds.
Please note that for very big withdrawals, say withdrawals greater than $1000, the direct withdrawal to MasterCard may be a better option as via the bank transfer using Payoneer US Payment Service, you will need to pay 1% of the transferred amount and when you will withdraw $1000, transfer charges of $10 will be deducted. For card withdrawal, this fee may be slightly lower.
Payoneer Set Up with oDesk
Step 1: First of all, sign in to your Payoneer account and get the US Payment Service details. You will find your virtual bank account number and the routing number in US Payment Profile section under “Receive Payments” tab.
Step 2: Now sign in to your account on oDesk, go to account setting by clicking the “Gear” icon near top right and change the payment method.
Step 3: In payment options under “Get Paid” tab, add Direct Deposit/ACH as new payment method and click “Set Up” button in front of “Direct Deposit/ACH” option.
Step 4: In last step, you will be taken to a page once you will press “Set Up” button where you need to enter your name and other details. Enter your name, select account type as “Personal Checking“, enter routing number and account number obtained from Payoneer, accept the terms and then press “Add this Account” green button.
After providing the details, wait for a day or two till your account gets ready for withdrawals. At present, it takes 3 days before your account gets active and ready for withdrawal at oDesk. Once the bank transfer option will get active, you can now withdraw your earnings to provided account. oDesk will not charge any fee for the withdrawal and you will have your money in your virtual US Payment Service account within 2 or 3 days. Just 1% of the transferred amount will be deducted by US Payment Service and all remaining funds will be loaded to your Payoneer MasterCard.
Isn’t it cool? Yes it saves you some good money if you need to withdraw your earnings frequently from oDesk.
Don’t have a Payoneer Account? Signup at Payoneer for Free Here