How to Withdraw Your Upwork Earnings in the Philippines (2025)

Did you know that Upwork has 18 million freelancers?¹ It proves how trusted and global this platform for freelancing has become. Working with clients who value your skills is rewarding, and getting paid for it feels even better!

But here’s the thing: choosing the correct withdrawal method can affect how much of your earnings you actually keep. Upwork offers several ways to withdraw your funds, each with its own fees and processing times.

To give you a brief idea, fixed-price and bonus payments clear five days after client approval, while hourly payments become available ten days after the billing week ends.

In this guide, we’ll break down the best withdrawal options for freelancers in the Philippines. We’ll also discuss how a Wise Business account can make receiving your payouts faster and even let you receive USD payments like a local.

Table of contents
Available withdrawal methods on Upwork Direct bank transfers Third-party payment providers Setting up your Upwork withdrawal methods Tips to manage Upwork payments Wise Business for freelancers in the Philippines Conclusion

Available withdrawal methods on Upwork

Upwork facilitates several payment methods, depending on your location. Regardless of your chosen method, your beneficiary name must match the verified Upwork name. If not, it can cause payment delays.

Remember that some banks or third-party providers may charge extra fees. It’s best to review all options carefully before choosing the one that works best for you.

Direct bank transfers

Getting paid straight to your bank account is one of the most convenient ways to withdraw your Upwork earnings. Here’s how each option works²:

Direct to US Bank (ACH)

This method is free per transfer and usually takes two to five business days. It’s best suited for freelancers with a U.S. bank account linked to their Upwork profile³.

Direct to Local Bank (Outside the U.S.)

A popular choice among Filipino freelancers, this option comes with a small USD fee per transfer and automatically converts your funds to Philippine pesos. Just note that the exchange rates may not always be the best, so you might receive a little less than expected after conversion⁴.

USD Wire Transfer

A wire transfer might make sense if you’re making large withdrawals (around USD 1,000 or more). However, it does have a higher transfer fee and can take up to seven business days to complete⁵. To avoid delays, you must provide a valid SWIFT code and ensure all bank details are accurate.

Listed below are some pros and cons of this direct bank transfer that you must know about:

Pros:

• Money goes straight to your bank
• Works best for local clients or companies with Philippine bank accounts.
• No setup required. Just share your account details and wait for the payment.

Cons:

• High international transfer fees. Your client and you might both get charged.
• Payments from abroad can take 1 to 7 business days.
• Unfavourable exchange rates. Banks often add hidden markups when converting currencies.

Third-party payment providers

Upwork also supports third-party payment platforms, which make it easier to move money between accounts or access funds faster. Let’s look at the most popular ones:

Paypal

It is quick and easy to use, making it a go-to for many freelancers. However, it comes with a small withdrawal fee from Upwork and PayPal’s currency conversion charges. To avoid issues, always ensure your PayPal account name matches your verified Upwork name⁶.

Pros:

• Quick and easy to set up.
• Funds can be transferred instantly to your PayPal account.
• Widely accepted for online payments and shopping.

Cons:

• Upwork charges a small withdrawal fee.
• PayPal adds its own currency conversion fees.

Payoneer (outside the U.S.)

Payoneer is another popular choice among freelancers, mainly if you’re based outside the U.S. It charges a small withdrawal fee plus conversion costs. Still, the money usually arrives fast, often within 24 hours.

You can also withdraw funds using your Payoneer Debit Mastercard, which makes it convenient for everyday use⁷.

Pros:

• Funds usually arrive within 24 hours.
• You can use the Payoneer Debit Mastercard to withdraw cash or make purchases.

Cons:

• Currency conversion and withdrawal fees can add up.
• Not all banks support Payoneer transfers.
• Some users report slightly longer processing times for larger payments.

Further Reading: ➡️Payoneer Business Account review: Who Should Use it in the Philippines?

Wise Business

Wise is worth considering if you’re looking for a balance of speed, security, and transparency. Using a Wise Business account, you can receive payments easily using local account details in multiple currencies, just like a local. This means clients can pay you directly in their currency, often without extra receiving fees.

You don’t have to convert your funds right away, which helps you avoid unnecessary conversion fees and poor exchange rates. When ready, you can convert your money to pesos at the real mid-market rate with no hidden charges.

If you currently use a Wise Personal account, check out our guide comparing Wise Business and Personal accounts to see which one fits your Upwork needs best. You might be missing out on some useful business features.

Or, read our guide comparing Wise and Payoneer to see which works best for your freelancing setup. And if you want more details on how to receive your Upwork payments with Wise, visit theWise Help Center.

Pros:

• Transparent fees. You always see what you’ll pay.
• Real mid-market exchange rate (no hidden markup).
• Fast and secure transfers, usually within 1-3 days.
• Supports 40+ currencies.

Cons:

• Requires a bit of setup for first-time users.

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Setting up your Upwork withdrawal methods

You’ve made the choice. Now it’s time to ensure your payments land safely in your account. Setting up the correct withdrawal method on Upwork can help you save on fees, avoid conversion losses, and get your money faster.

Here’s how to get everything in order:

Step 1: Add your tax information first

Before you can add a withdrawal method, Upwork requires you to provide your tax details. This is a mandatory step to comply with global financial regulations.

For Filipino freelancers, this usually means entering your Tax Identification Number (TIN). You’ll find this in your Upwork Settings > Tax Information section. After you’ve added your TIN and confirmed your details, you can set up your preferred payment method.

Quick Reminder: Don’t forget to match names on tax information and Upwork profile. Inconsistent details can lead to payment delays or account holds.

A 12% VAT applies to all goods and services in the Philippines. Under Revenue Regulation No. 13-2022, even foreign companies offering digital services to Filipino users must charge this VAT⁸. Because Upwork provides digital services such as platform access, Connects, client-matching tools, and payment processing, it’s classified as a Digital Service Provider (DSP).

VAT is applied only to Upwork’s service fees, not your freelance income. It covers:

• Upwork’s service fee
• Membership fees, like the Freelancer Plus plan
• Connect purchases

So, if you’re in the Philippines, you might notice a small VAT amount added to your Upwork invoices or receipts.

Step 2: Go to Settings > Get Paid

Once your tax details are verified, go to Settings > Get Paid to view all available payment options. You’ll see choices such as Direct to Local Bank, Payoneer, PayPal, Wire Transfer, or Wise (if you’re using a Wise Business account).

Depending on which option you select, each method will require you to provide some details, such as your account number, SWIFT/BIC code, or email address.

Step 3: Wait for the security hold

Every new withdrawal method you add to Upwork goes through a three-day security hold before it becomes active.

This waiting period is a safety measure to prevent unauthorized changes or fraudulent access. During this time, you can still work and get paid. But you’ll need to wait before using the new payment method to withdraw funds.

Note: If you update your payment method, even if it’s just replacing an old one, the 3-day hold applies again.

Step 4: Add more than one method

Upwork allows you to add multiple withdrawal methods, which is highly recommended. A backup ensures that payment delays will not occur if one method encounters issues or maintenance downtime.

Automatic withdrawals and reserve balances

Managing your earnings on Upwork doesn’t have to be a manual task every time you get paid. The platform gives you flexible options to automate your withdrawals or keep a portion of your balance for future use:

• You can choose to automatically transfer your available funds weekly, biweekly, or monthly. Set your preferred schedule in Settings > Get Paid, and Upwork will do the rest.
• Know that minimum withdrawal thresholds depend on your chosen method (for example, wire transfers may require a higher minimum amount).

You can also keep a Reserve Balance in your Upwork account. This is useful if you want funds ready for things like Connect purchases, membership renewals, or other Upwork-related expenses.

These funds won’t be included in automatic withdrawals, so you’ll always have a small amount available for platform use. Keeping around $20 to $30 as a reserve balance is always better to prevent interruptions when renewing memberships or buying Connects.

Editing or removing withdrawal methods

In case you want to remove or change your withdrawal method, you can easily manage it under the same heading: Settings > Get Paid.

Keep the following in mind when doing so:

• Some details, such as your account number, SWIFT code, or email address, cannot be edited. If they change, you’ll need to add a new withdrawal method.
• Once a withdrawal is initiated, it cannot be cancelled or reversed, so always double-check before confirming.

Important: Upwork can’t recall the funds if you accidentally send your withdrawal to the wrong account. Always test new methods with a small withdrawal first.

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Tips to manage Upwork payments

Handling payments on Upwork doesn’t have to be complicated. A few smart habits can help you keep more of what you earn:

• Know your fees: Check Upwork’s service and withdrawal fees before starting a project to set clear expectations.
• Set rates wisely: Include all fees in your rate so your payout meets your goal.
• Automate payouts: Use Upwork’s withdrawal tools to keep cash flow steady.
• Watch exchange rates: Stay alert to conversion fees if you work with international clients.
• Use Wise for transfers: Receive payments in multiple currencies with real exchange rates and transparent fees.
• Keep records: Download payment history regularly for easy bookkeeping and tax prep.

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Wise Business for freelancers in the Philippines

💡Are bank accounts limited to USD, EUR, or GBP options holding back your business? With a Wise Business multi-currency account, you can access over 10 local account numbers — far more currency options than the handful most banks offer. Plus, Wise makes it easy to hold, send, receive, and exchange 40+ currencies from a single account. With the freedom to send and receive payments in more currencies globally, you can focus on what matters most: growing a local business that knows no borders.

• Obtain account details to receive payments in USD, EUR, GBP, SGD, HKD and more for a one-time fee of 1,400 PHP.
• Zero fees when you get paid via ACH, FAST, InstaPay/PESONet, & other local transfers.
• Send money to pay invoices, suppliers & contractors fast, with less fees
• Always get the mid-market rate with transparent conversion fees starting from 0.57%.
• Pay your bills and ad-hoc overseas expenses using the Wise Business card without hefty foreign transaction fees.
• Seamless integrations with popular accounting software.

➡️Get started with Wise Business today

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Conclusion

Getting paid on Upwork doesn’t have to be complicated. You’ve already worked hard for your earnings. Setting up the right payment method is a step you can’t skip. It’s to ensure you keep more of what you earn.

You can choose direct bank transfers for convenience, Payoneer for fast card access, or Wise for transparent, multi-currency payments. Each option has its own strengths, and the best one depends on your workflow and financial goals.

Many Filipino freelancers prefer Wise Businessbecause it makes receiving payments simple, offers mid-market exchange rates, and provides more control over conversion costs.

Take a few minutes to review your withdrawal settings, add your preferred method, and keep a backup option ready. Smooth payments mean less worry and more focus on growing your freelancing career!

➡️Learn more about Wise Business

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Sources:

1. Upwork Statistics | Famewall
2. How to Get Paid on Upwork – Withdrawal Methods
3. Direct to U.S. Bank (ACH) – Fees and Timing
4. Direct to Local Bank – Fees and Timing
5. Wire Transfer – Fees and Processing Time
6. PayPal – Fees and Timing
7. Payoneer – Fees and Timing
8. What Filipino Freelancers Need to Know About Upwork and VAT

Sources checked on 15th October 2025