oDesk Withdrawal Method - My Personal Dilemma

I was due to withdraw my odesk earnings today, July 18. Ever since I started withdrawing funds from my odesk account, I always use the LFT or Local Funds Transfer wherein I directly receive payment through my Metrobank ATM. Unfortunately today, I admittedly was kind of thinking it was like a default setting that when I click withdraw, it will simply be just the same. In short, I was not in my proper frame of mind (hehe!). However, when I checked the transaction history on odesk, I withdrew funds and transferred it to my PayPal account! I was angry at myself for being so absent-minded. I registered my Paypal account as a backup payment plan just in case clients would ask if I have such an account. But, to actually transfer fund from odesk to Paypal, I must say is such a hassle for a newbie like me. 

My Paypal account is linked to my Union Bank EON Card. I have separately set up my Paypal and EON Card accounts since last year but have not really tried if it actually works. Now, I finally got a taste of how tedious this process is. It was a few months back since I last visited my Paypal account because I do not really use it that often. Good thing I was able to retrieve my password and saw that my odesk money was instantly transferred. The problem now is when I was trying to transfer fund to my EON Card (debit card), I could not push through with the transaction because Paypal system was asking me to verify my debit card through a 4-digit number. Unfortunately, I did not have my EON Card with me and could not check these magic numbers being asked from me to successfully transfer my money from Paypal to EON Card.

Nevertheless, here are the realizations I ended up with:

1. oDesk charges a bit higher amount when you withdraw earnings through Paypal as compared to LFT (Local Fund Transfer). If you withdraw through Paypal, odesk charges $1 whereas LFT is only $0.99. You might say that there is not much difference, anyway. But, if you are going to withdraw a large amount, the decimal point does matter. 

2. Paypal's money conversion seemed a bit lower as compared to the dollar-peso rate applied through LFT. Normally, when I withdraw funds from oDesk to my Metrobank account, exchange rate is around $1 equivalent to Php 41 - 42. On the other hand, I noticed that Paypal's conversion rate is a dollar lower thus, $1 is equivalent to Php 40. Apart from this, you will be deducted of the respective remittance charge from your respective bank, like in my case, Metrobank that charges roughly around Php 75 to 80 once money is transmitted to my ATM. In Paypal, different charges apply for different banks too, but the lowest  rate is Union Bank which is Php 50 based on what I have read in other blogs. For other banks connected to your Paypal it may cost to above Php100.

3. For the price that you are going to pay, I would recommend the oDesk LFT withdrawal since the end result gives you a slightly lower odesk charge and remittance fee which in my case is Metrobank. I think the deducted amount is fine since I get to receive payment after 2 to 3 days only. Say for example, I withdraw my odesk money on a Wednesday therefore, I would receive it by Saturday of the same week.  Paypal has a 5 to 7 day allowance before your money is transferred to your debit card which is a bit longer waiting time.

Lessons learned: Withdraw my oDesk fund through LFT, ALWAYS! And most of all, always double check on what you are clicking before finalizing any withdrawal transaction.

Goodluck to others (out there) who are experimenting on oDesk withdrawal methods!


  1. I also got the same condition as yours Christine and it took me 5 working days for me to finally withdraw my money from my EON card and it really is a hassle for me. However, I started working with another online work provider which is Staff.com and they've been great in handling my payments and they automatically deposit it through my BPI account so I do not have to wait for couple of days before I can get it.

  2. Hi Lou Daniel!

    I've been seeing a lot about staff.com. Is is legal like odesk? What projects are you engaged into staff.com?

  3. Hi Christine,

    I just wanna ask where to find the account # in a EON card? I am just new freelancer and I want to set up LFT instead of paypal..

    1. Hi Sheena!

      I hope I remember it correctly that the Account number for EON Card is located right below your name (in front of the card).
      LFT is really better. I suggest BPI or Metrobank. :)

  4. Thanks for your reply! I finally found it :) What's make BPI or Metrobank differ from Union? My says that using Union EON in your PayPal account is more efficient, but I do not know in terms of LFT. :)

  5. I think most people say that its better to transfer funds from Paypal to Unionbank because the fee is cheaper compared to other banks. But, if you are going to withdraw funds from oDesk, in particular, then LFT is the best way (through BPI or Metrobank).

  6. Hi,

    I only learned about ODesk last month and I am excited to try it. Just want to ask. What is the best bank account to be used at ODesk? Can I use my Union EON card for LFT?

    Thank you very much.

  7. Hi Anonymous!

    Yes, you can use your Union EON card but you need to create a Paypal Account first. And then tie up the EON card + Paypal Account so that you can withdraw your money. All these procedures are done online. You may check unionbank and paypal websites. For me, I have not tried withdrawing money from Paypal+EON card, although I have it as a back up withdrawal method for oDesk.

    I normally use the LFT withdrawal method where I can transfer fund from odesk to Metrobank. Usually, I withdraw my odesk fund on a Wednesday and then, by Saturday morning I already have the money in my Metrobank ATM. It has a minimal deduction of Php70-80.

    Alternatively, you may opt for the BPI Easy Saver's ATM Account. You'll receive the exact amount converted by oDesk but it charges, Php 5.00 per ATM withdrawal. You'll receive your funds within 2-3 days just the same as with Metrobank.

  8. Hi, I just want to ask if EON Card is accepting Local Funds Transfer through oDesk?or it can be add for LFT on oDesk withdrawal method?


  9. Hi Renalyn!

    I think EON Card is mainly to connect with Paypal account. If you will use it as an LFT (or Union Bank Account), you might be deducted a larger amount for fund transfer based on Union Bank charges as compared to BPI and Metrobank which charges minimal amount. LFT is another withdrawal method wherein you connect your bank account with oDesk. Generally, EON Card is ideal for Paypal as it charges minimally compared to other banks. LFT is ideal to connect with BPI and Metrobank (the cheapest among local banks that charges less than Php 100 for fund transfer). I hope this enlightens you! :)

  10. You can actually use Eon Card as an option of LFT directly from odesk.

  11. How can i retrieve back my money from paypal back to odesk? Im kinda annoyed of paypal its been two months and still i cant withdraw.


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