If you’re wondering whether oDesk’s Local Funds Transfer is really competitive to other payment methods available, you can always check out the exchange rate between U.S. dollar and your local currency.
There are two locations in oDesk where the currency converter is displayed. The first one is through the setup of LFT while the second one is when you withdraw funds using said method.
A little bit of background: Local Funds Transfer is the newest way to send payment directly through your local bank account in your local currency. Through it, Paypal, Payoneer and others become even more optional for oDesk contractors.
Conversion Rate at Setup
An oDesk member can preview the last rate through setup through the following.
- From the homepage, go to Payments > Payment Methods.
- If LFT for your country is not yet established a notification will show to direct your through the setup. Click Set up now.
- Enter your password if asked for.
- At the next page where you enter the BRSTN code for your bank, a What’s This to the right shows the last oDesk exchange rate.
This procedure will no longer be possible once you have finished setting up Local Fund Transfer.
If you now have the LFT method prepared as a withdrawal method, you can also view the last currency conversion rate among the information. To do this,
- From the homepage, go to Payments > Withdrawals.
- Under the Withdrawal Method dropdown list, choose Local Funds Transfer to specified local bank with xxxx-acct#.