The fruit of my labor

Ok!  So the hard part in my oDesk life is over.  I now have my first feedback, I am done with my first job, and I was able to earn my first dollar.  Great!  Now what?  How am I going to get it?  HA! HA!  I haven’t had the faintest idea how.  I’m new in oDesk, I am also new in Paypal.  I don’t have any credit card (at that time).  So how am I going to withdraw the money.  Let’s face it, the reason I am on this online job is to earn money.  But what good would it do to me if I could not even withdraw the fruit of my labor.

After browsing several times and looking blankly in my monitor, I have finally come to an answer.  As I was staring point blank, I remember to read the forum.  And there, I was able to find some info on how to withdraw money from oDesk.  Thanks to all the forum starter regarding oDesk withdrawal, you really helped a lot!  In my own way, let me share to you my experience.

Guide on how to withdraw money from Odesk.

1.  First of all, you need to choose which payment method are you going to use to withdraw money from oDesk. To be able to achieve this, log in to your oDesk account and then click payments in the menu bar. Don’t worry, you don’t have to pay anything on this.

If you prefer payoneer, moneybookers, or paypal, you should have an existing account on this merchant before you link it to your oDesk.  Click the “sign up now” if you don’t have any account.  In my case, I have chosen paypal. It does not necessarily mean that you need to have a credit balance, you just need to register on them.  Under payment menu, you will also find some additional information about your earnings.  Just click the helpful links on the right side below your pending credit.

2.  You are now ready to withdraw money from oDesk.  Go to oDesk home menu, scroll down until you see the PAYMENT section.  From there click withdraw.

You will need to reenter your password for confirmation.You will be directed on another dialog box which is the withdrawal form.  Then select the type of payment method you prefer previously.  Take note that withdrawing money from oDesk means transferring it to other account.

Another thing to consider is the deduction every time you withdraw money from oDesk.  There is a $1 withdrawal charge,  it is best that you withdraw all the money so that you will be charged one time.  It is up to you if you want to leave a portion of your money but as I said you will be charged $1 per withdrawal.  So if you have $10, you can only withdraw $9.  Anyways, your credit balance in oDesk will not expire that’s one thing you don’t have to worry about.

The withdrawal charged is also different per type of payment method.  In payoneer, a $2 withdrawal fee while in moneybookers and paypal the charge is $1.  See item #1, you will also see this when you activate your payment method.

3.  Now click the withdraw button.  You will receive a notification letter that you have withdrawn money from oDesk, you will see that in your notification under messages menu in your oDesk homepage.

4.  After the steps you have taken in oDesk, your money is now ready in your merchant of choice either in paypal, payoneer, or moneybookers.

How to withdraw money in paypal

I can only discuss paypal withdrawal here as this is the merchant I have chosen.  Things to remember if you are a newly registered member in paypal: (a)  You need to have a credit card to get the verification needed for withdrawing money.   (b)  Paypal offers options that allows you to withdraw, its either thru your bank or thru your credit card.  I will dig more on bank withdrawal here.

1.  Log in to your paypal account.  In your profile menu, you have the option to edit your email add, bank account, credit card info, street address, etc.

2.  For me, I have chosen my bank account as the primary mode of withdrawal.

3.  Verify your account by clicking the verify button, see below.  You need it to have an unlimited withdrawal amount.  You can choose not to, it is up to you.  As for me, well you can see that I have chosen not to limit my withdrawal.  You will notice that the status is verified as I have already verified my account.  But in your case if you still have not done so, the status will reflect as get verified.  Meaning you have to click on that to verify your account.  Keep in mind that you are verifying your credit card.

4.  You will receive a notification from paypal to confirm your card in 2-3 days.   This is to get your 4 digit code needed everytime you do a transaction in your paypal account.  Take note that it will be reflected in your card statement for 2-3 working days.

5.  You will need the 9-digit code to add your bank account.  Check this blog for the list of Philippine bank code.  Thanks to ladyprogrammer for this info.

Once you received the notification in your card statement you are now readyto do transactions in paypal and enjoy the fruit of your labor.



About wanderingmom

Nothing I could put a name to... just wandering around for something....
This entry was posted in Money Matters and tagged , , . Bookmark the permalink.

One Response to The fruit of my labor

  1. Gem says:

    Thanks for the feature. Your own tutorial is helpful too. I hope you were able to find success in your freelance career.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s