Philippine contractors are surely thankful for the enhanced LFT. The beta launch provided a direct transfer of oDesk funds to Philippine banks with a $1.99 oDesk withdrawal fee (free for the first try). Particularly for BPI (Bank of the Philippine Islands), there is no incoming foreign remittance fee. Other banks charge around P50 to P200. In my post about my first try of the LFT, I hoped for oDesk to revise the beta lauch to make it at par with the best features of Paypal’s $1 withdrawal fee and shorter remittance period of 2-3 days. I received below email from oDesk regarding the official launch of the LFT, and lo! The LFT became even better! What with an even lower fee of $0.99, and 2-3 days processing! LFT will now definitely become my choice of withdrawal method!!!
Below is the notification on the official launch of the LFT:
Thanks to oDesk for always listening to requests, suggestions and recommendations from contractors who’d want to maximize their earnings. Kudos!