ACH / Direct Deposit
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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".
ACH withdrawals are free, but only available for US-based providers. You must file a W-9 to activate ACH withdrawals.
Are you living outside the USA, but have a US bank account? Unfortunately, oDesk cannot accept a W-8BEN to file in place of the W-9. Generally, the best option is to sign up for PayPal withdrawals and register your bank account with them instead.
Since ACH withdrawals are only available for US-based providers, we are required to confirm you have filed a W-9 (a mandatory IRS tax form we need in order to report income for contractors in the USA). All providers in the USA must file a W-9 prior to making any withdrawals. (Read more about W-9s and other tax forms.)
Not in the USA? Please sign up for PayPal withdrawals and register your bank account with them instead. Unfortunately, oDesk cannot accept a W-8BEN to file in place of the W-9. Therefore ACH is not available for providers in other countries - not even if you have a US bank account.
None! ACH withdrawals are completely free for all who qualify. Neither oDesk nor your bank will charge a fee for this type of withdrawal. However, ATM fees may apply when withdrawing the money from your bank account.
Make sure you qualify, gather your bank account details, then follow these directions:
- Go to Payments > Payment Methods. Select the Withdrawals tab.
- Press the Add a Direct Deposit/ACH account button the Actions column.
- Enter your Bank Name, Bank City and Name on the Account.
- Select your Account Type: Checking or Savings.
- Set the Account Owner: Individual or Corporation.
- Enter your Account # and ABA Routing #. It is very important to enter these numbers correctly. It can take some time to recover funds withdrawn using incorrect account information.
- Press the Submit button. For security reasons, the new bank account will become active in 4 days.
You may add as many bank accounts as you wish (directions are the same each time). Each bank account is added, edited and removed independently. For security purposes, only the last 4 digits of your bank account number are displayed on oDesk and in our email notifications.
You have three bank accounts: a checking account, a savings account you use as an emergency fund and another savings account where you set aside money to pay your taxes. You register all three for ACH withdrawals and split up your earnings as your household budget requires.
The system will check if you have a W-9 on file with oDesk before activating ACH withdrawals. This tax form is mandatory for all US-based providers.
You may edit all your details except the bank account and routing numbers.
- Go to Payments > Payment Methods. Select the Withdrawals tab.
- Press the Add a Direct Deposit/ACH account button the Actions column.
- Edit your Bank Name, Bank City, Name on the Account, Account Type or Account Owner.
- Press the Submit button. For security reasons, the edited bank account will become active in 4 days.
Once added, you cannot edit your bank account and routing numbers. To update these numbers (or use a different account), you must add a new account. Please remove the existing bank account if it is wrong or no longer needed.
Bank account details are sensitive information, so we allow you to remove it from our system at any time.
- Go to Payments > Payment Methods. Select the Withdrawals tab.
- Press the Remove button in the Actions column next to the bank account you'd like to remove.
- Press the Confirm button to remove your bank account from our system. You can add it again later, if you change your mind.
