The oDesk guide to PayPal
PayPal is a popular system for transferring money, based in the
How does PayPal work on oDesk?
You need to activate Payment via PayPal. You must create a PayPal account using your oDesk email address or, if you already have a PayPal account, you must add your odesk.com email address to it. You must then confirm that you have added your odesk.com email address to your PayPal account. Once you have done so, add the PayPal Payment Method under the "Billing and Payments" tab. Once the payment method has been added, it will take 3 days for it to become active. The "Status" column in the Payment Methods page will indicate the date on which payments will be enabled. Note: It is your responsibility to ensure that your oDesk email address is registered with PayPal. If it is not you might be unable to access your money for up to 30 days.
When you request a PayPal withdrawal, the payment request is instantly sent to PayPal. If the transfer is successful, PayPal will send you an email confirming that your money has been received. This should take no more than 2 hours.
Additionally, you should check the following to make sure that your PayPal withdrawal is successful:
- Create a PayPal Account
- Add your oDesk email address to your PayPal Account
- Configure your account to hold US Dollars (at PayPal.com, under MyAccount click "Profile" and edit "Currency Balances")
Once the funds are credited to your PayPal account, you can withdraw funds into your local bank account by electronic transfer, request a paper cheque be mailed to you, transfer to a credit card, etc.
Note: You are responsible for making sure that PayPal provides the services you need before you withdraw money. Once you submit a withdrawal oDesk transfers the money to PayPal and is unable to retrieve it.
How do I add my oDesk email address to PayPal?
In PayPal, click the "My Account" tab, click "Profile" and select "Add or Edit Email". Add you oDesk email address. Then select the address and click "Confirm". This causes an email to be sent to your oDesk email address. oDesk will forward this to your Primary email account. When you receive the email, click on the PayPal link in the email. This will let know that you own the email account, and money withdrawn from oDesk will directly be placed in your PayPal account.
Can I use PayPal?
PayPal withdrawal fees and supported functionality varies widely by country. Please check with PayPal for country support and fees for withdrawal. This list changes approximately every 6 weeks. Bank support also varies by country, and some banks charge additional fees for Electronic Fund Transfers. By adding your bank to your PayPal account you can confirm that your bank is supported. Note: It is your responsibility to make sure that PayPal provides the services you need before you withdraw funds to your PayPal account. Once you withdraw funds using PayPal oDesk does not have control over the funds, cannot reverse the transaction, and cannot ensure that you receive them.
How much does oDesk charge for this service?
Withdrawals to your PayPal account cost $1.00. PayPal may charge additional fees for transferring funds to your local bank or other delivery method.
Are there additional costs?
If you are converting to a foreign currency, PayPal charges a fee as part of a 2.5% currency spread. When you are withdrawing your money your bank might charge fees. If the amount withdrawn is small, then PayPal might charge a fee as well. Withdrawing to Credit Card, or withdrawal by check are also possibilities in some countries
Is there a maximum withdrawal amount?
$10,000
Is there a minimum withdrawal amount?
$1
How long does it take?
Transfers to PayPal accounts are instantaneous. However, once the money is in your PayPal account it takes a few days to process a transfer to your local bank account or receive a check.
How does PayPal compare to Moneybookers, Payoneer, etc.?
Where it is supported, PayPal is usually an inexpensive way to transfer money to your bank account. Fees and services vary widely by country, so make sure PayPal provides you with the services you need and check PayPal withdrawal fees before you withdraw. Wire transfer is expensive for small withdrawals, but it is immediate.
I am a buyer - can I pay using PayPal?
No. At this time we are only supporting PayPal for withdrawal.
What is good about PayPal?
- Registration is free
- Receiving money into your PayPal account is fast and cheap
- Your funds can be transferred directly into your local bank account
What is not so good about PayPal?
- Withdrawing funds from PayPal into your local bank via electronic transfer can be slow (3-5 business days)
- PayPal support varies by country.