So, I’ve been juggling freelancing gigs for a while now, and payment processing is always a pain point. You know, high fees, slow transfers, and all that jazz. I recently decided to properly benchmark Airwallex against Upwork Direct Contract for getting paid by clients not directly through the Upwork marketplace.
The Setup: Testing the Waters with Airwallex and Upwork
I kicked off this little experiment by setting up accounts. Airwallex was surprisingly smooth. Took me about 15 minutes to register and get verified. I needed to send an invoice to a US client who prefers to pay directly, avoiding the Upwork commission hit for the main platform.
- Airwallex Process: I opened a USD account with them—super easy. I drafted a basic invoice, sent it over. The client paid via ACH, and I saw the funds land in my Airwallex account within two business days. That was quick.
- The Conversion Test: The real test was converting that USD to my local currency (GBP). Their exchange rate felt really good—much better than my regular bank. The transfer fee to my local bank was minimal, definitely saving me money compared to PayPal or wire transfers.
My initial reaction to Airwallex? Pretty solid. Low friction, transparent fees, and fast receiving times. It felt like a proper global business account, even though I’m just one guy.
Diving into Upwork Direct Contract
Next up was Upwork Direct Contract. Now, I use Upwork a lot, but Direct Contract is a slightly different beast. It’s their way of letting you work with existing clients off-platform but still leveraging their payment protection and escrow—for a fee, of course.
I had another client, also US-based, who was willing to try this method for a smaller project. I set up the contract. It was straightforward within the Upwork interface, which I already knew well.
- Setting the Terms: We agreed on the scope, the fixed price, and I initiated the contract. The client funded the escrow right away. The main platform fee for Direct Contract is 3.4%. Not terrible, but definitely there.
- The Payout Wait: Once the work was approved, the funds were released. But then came the waiting game for withdrawal. Using Upwork’s standard withdrawal methods (like bank transfer), it took another few days to reach my local bank.
- Currency Conversion: Upwork’s conversion rate, let’s just say, isn’t as competitive as Airwallex’s. They take a bit more chunk out of the conversion, which adds up on bigger projects.
What I liked about Upwork Direct Contract was the safety net. The escrow system means you know the money is there before you start working. That peace of mind is worth something, especially with new or flaky clients. However, the extra 3.4% fee and the less favorable exchange rates started to nibble away at the total.
The Showdown: Airwallex vs. Upwork Direct Contract
I broke out the calculator to compare a $5,000 payment using both systems.
Airwallex Win: For me, Airwallex completely smashed it on two fronts: cost and speed. I kept more of the $5,000 because Airwallex had zero receiving fees, excellent spot conversion rates, and a minimal transfer fee to my personal bank. The entire process from payment initiation to funds in my local bank was faster by almost three days.
Upwork Direct Contract Caveat: The 3.4% fee right off the top hurts. That’s $170 gone immediately. Plus, the exchange rate spread meant another $50-$80 disappeared during conversion compared to Airwallex’s rate. Sure, I got the escrow protection, but I have a strong relationship with this client, so the risk was low.
The Final Takeaway: If you are working with established, trustworthy clients and want to maximize your take-home pay, Airwallex is the absolute winner. It’s built for modern cross-border payments with minimal overhead. It feels like a smart business move.
But—and this is a big but—if the client is new, or the project is massive and high-risk, that 3.4% fee for Upwork Direct Contract acts as insurance via their escrow service. You pay for peace of mind.
For my regular, recurring clients who pay me thousands monthly, I’ve entirely shifted them to Airwallex. It just makes financial sense. I’ll reserve Upwork Direct Contract only for those iffy projects where payment security is my absolute top priority.