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Do You Need a Bank Account for UpWork?

Last updated on September 30, 2022 @ 10:35 am

As a freelancer, you’re always looking for new opportunities to grow your business. When you’re ready to take on more work, where do you turn?

For many freelancers, the answer is UpWork. UpWork is a freelancer platform that connects businesses with top talent around the world.

But what do you need to get started on UpWork? Do you need a bank account?

The short answer is no, you don’t need a bank account to start working on UpWork. You can use PayPal or a debit/credit card to get paid for your work.

PRO TIP: You may be asked to provide bank account information when you sign up for Upwork. Providing this information is optional. If you choose to provide it, we use it to verify your identity, help ensure the security of your account, and enable features like direct deposit and automatic payments.

However, there are some benefits to having a bank account when you’re working on UpWork. With a bank account, you can:

Get paid more quickly: When you withdraw money from UpWork to your bank account, the funds are available immediately. With PayPal, it can take up to 5 days for the funds to become available.

Access more payment methods: When you have a bank account, you can also choose to be paid via wire transfer. This can be helpful if you’re working with international clients and need to receive payments in different currencies.

Withdraw money without fees: If you withdraw money from your PayPal balance to your bank account, PayPal will charge a 1% fee (with a minimum fee of $0.30). However, if you have a linked bank account, you can withdraw money from UpWork for free.

As you can see, there are some advantages to having a linked bank account on UpWork. However, it’s not required in order to start working and getting paid on the platform.

Morgan Bash

Morgan Bash

Technology enthusiast and Co-Founder of Women Coders SF.