Odesk Exchange Rates USD/BDT for Local Funds Transfer to Bangladesh from Odesk is very low than the Actual rate.
MD. ABIR HOSSAIN 3 posts - Bangladesh - Joined Oct 14 2010
Local Funds Transfer to Bangladesh from odesk opens a wide window to all the freelancers in Bangladesh and it has made freelancing payment easy to the future freelancers. However, there is a matter that i has been following for a long time. The EXCHANGE rate that Odesk Offers is differs a lot with international exchange rates, I had contacted odesk help center to know why this rate differs a lot, but they could not give any satisfactory answer. On 02-Apr-2014 i had made a payment through odesk Local Funds Transfer and i get the Exchange rate on 04-02-2014 02:45 UTC: 74.9090 BDT/USD, but on that day the exchanges was higher than this rate, on 1st April my bank(the bank i am holding the account- Brack Bank Ltd. Bangladesh) bought $ in the rate of 77.0500 BDT/USD on 1st April. On asking them why this differs ? they answer me like this, "Please consider that it is common practice for 3rd parties who are in the 'conversion' business to offer a slightly lower than market rate (from Bloomberg, the Central bank, Google, etc) as a means to be compensated for the service they are offering." I understand this facts, but still on per Dollar this 4-5 taka short is a huge facts for me, after all i am working hard for money, and Odesk gain 10% on every $ I earn. They cut that 10% from the client but it dose not matter, because if i dont work client wont pay, and more over client had a mind set to reduce those 10% from my payments.
Score: 10.0, Votes: 1