Withdrawing money from oDesk

So, you've started your online career as a freelancer and was paid a desirable amount. You can't wait but get to hold that cold cash in your hands. But, how will you get those oDesk credits into cold cash?
Here's how.

There are several ways to withdraw your money form oDesk. See this oDesk payment methods.
The tried and tested methods are the Local Funds Transfer and Paypal. Have used both and I can say Local Funds Transfer is better. Paypal was an old method. I think last year, the Local Fund transfer is not available yet.

Local Fund Transfer allows you to withdraw your oDesk credits directly to your bank account at $0.99 and will register on your account in 3-5 business days. That easy. Not bad, as transferring funds to Paypal costs you $1.00 and the time of transfer will test your patience. Sometimes though, the employers will send your pay directly to your Paypal account so you should also have an account there.

Okay, since LFT is pretty easy to understand, I will focus on the oDesk to Paypal relationship.
What to do?

You should have a verified Paypal account. Again, it's FREE to sign up. You can put your Paypal account in your oDesk Payment method and withdraw. Rate is $1.00. Paypal will charge another 50 pesos for withdrawals under PhP 7000. The process will take around 3-5 banking days.

Next article: Get your Paypal account verified.