oDesk Payment Methods for Contractors in the Philippines

If you are getting projects via Odesk, then it is important that you know the different methods of withdrawing your earnings. With the increasing number of Filipino freelancers, this article would be of help to everyone.

The payment options that I will review are the ones that I’m using right now so the details that you are about to read are based on my actual experience. This is for Filipinos who want to know how to get their money from oDesk.

In the payment options listed in the site, we can only use the following:

Payoneer



- This is the fastest option. You can transfer the money in your card in as little as 2 hours, provided that you are willing to pay a $3 loading fee. If you want to avoid the loading fee, just wait for 2 days until your money is credited to your card.

- You can use your Payoneer card for purchases as long as the store honors cards with the Mastercard logo.

- If you will withdraw your money in ATM’s, you will be charged $2.15 for every withdrawal transaction.

PayPal(verified account)



- oDesk charges $1.00 for every fund transfer to Paypal. And when you withdraw money from PayPal to your bank or credit card, the withdrawal fees are as follows:

1. For P7,000 and up – free
2. For 6,999 and below – P50.00

- From PayPal, it usually takes 2 – 3 days before your money shows up in your bank account balance.

Note: Your bank may charge extra fees for the incoming transfers from PayPal.

Wire transfer

- This could be the easiest method to get your money but because of the expensive fee which is $30, I do not recommend this.

Local Fund Transfer

PayPal recently made this option available for Contractors based in the Philippines. oDesk will only charge $.99 per transaction. See more information here.

So, which one is the best?

Based on my experience, PayPal and Payoneer are the best. Local fund transfer seems to be a good option too but I still have to try it.