Deel contractors can choose among the withdrawal methods offered in their dashboard. Local bank transfers have no Deel withdrawal fee, while cross-border bank transfers cost $5. Currency conversion and provider charges can add to the cost.
Contractor withdrawals and employee payroll
This guide covers contractor balances. If you are employed through Deel's Employer of Record service, use your employment payment instructions and ask your HR contact which options apply.
Withdrawal methods Deel supports
For contractors, Deel supports a wide range of withdrawal methods. Availability depends on your country and currency, so check your dashboard for the exact list.
Local bank transfer: Withdraw to a Philippine bank account. Deel does not charge a fee for local bank transfers, though separate provider fees can apply in certain currencies. If your contract is in USD and you withdraw in PHP, Deel's exchange rate applies.
Cross-border bank transfer: A local bank transfer made to a bank in a different country than your profile country, such as a US account. Deel lists a $5 fee for these withdrawals.
International transfer (SWIFT): Sends funds in a currency that is not the local currency of the destination country. Deel lists a variable fee from $5 up to $10, and intermediary banks may take unpredictable extra fees.
PayPal, Payoneer, Wise and Revolut: Deel charges 2.5% for PayPal, with a $0.25 minimum fee, and 1% for Payoneer, with a $12 minimum fee. Wise and Revolut have no Deel withdrawal fee. Conversion and onward-transfer charges are separate.
Deel Card: Moving funds to the Deel Card has no Deel withdrawal fee. Card spending, delivery and cash-withdrawal charges can be separate.
Instant Card Transfer: Outside the US, Deel charges 2%, capped at $15, for cards supported by this method.
Fee and speed comparison
Method | Deel fee | Speed | Conversion cost |
|---|---|---|---|
Local bank transfer (PHP) | $0 (provider fees may apply) | Dashboard estimate | Deel's exchange rate from USD to PHP |
Cross-border USD bank transfer to Elevate Pay | $5 | Dashboard estimate | Free to receive by ACH. A flat $1.50 fee to send PHP |
SWIFT | $5 to $10, plus possible intermediary fees | Several business days | Receiving bank's rate if converted |
PayPal | 2.5%, minimum $0.25 | Varies | PayPal's quoted conversion rate and onward-transfer fee |
Instant Card Transfer | 2%, maximum $15 | Arrival time shown for your card | Card issuer's rate |
Payoneer | 1%, minimum $12 fee | Dashboard estimate | Payoneer's conversion and onward-transfer quote |
Source: Deel withdrawal fees and minimums. Minimum withdrawals include $10 for local bank, $100 for SWIFT and $50 for Payoneer. The $12 Payoneer figure is a minimum fee, not the minimum withdrawal: on a $500 payout, that fee is $12 rather than $5.
Deel notes that withdrawing in a currency other than your contract currency triggers exchange fees and rates. If your contract is in USD, withdrawing USD to a USD account avoids an automatic conversion at that stage.
Step by step: Deel to bank vs Deel to Elevate Pay
Option 1: Withdraw to a Philippine bank
Log in to Deel and open your balance or Withdraw page.
Click to add a new withdrawal method and choose Bank transfer.
Select the Philippines and PHP, then enter your bank details exactly as your bank shows them. The account name should match your name on Deel.
Choose the amount, review the exchange rate and fee Deel shows, and confirm.
Watch your bank account for the deposit. If you want the money in GCash, transfer it from your bank.
Option 2: Withdraw to Elevate Pay in USD
Follow the Philippines account-opening guide and complete verification.
Copy your account details. In the Elevate Pay app, copy your account number, ACH routing number and account holder name.
Follow the Deel bank-transfer setup: open Payments, Withdrawal Methods and Add Withdrawal Method. Choose Bank Transfer and enter the US account details shown in Elevate Pay.
A Philippines-based contractor sending USD to a US bank makes a cross-border withdrawal, which Deel lists at $5. Save the bank method and complete any verification requested.
Choose Withdraw, select Elevate Pay and enter the amount. Choose the ACH route, not a wire, and review the fee and arrival date before submitting.
After the USD arrives, keep it in dollars and send pesos from Elevate Pay when you choose. PHP transfers cost a flat $1.50 fee. Contact Elevate Pay support in the app for help with a transfer.
Which option is better?
Compare Deel's direct PHP quote with the PHP amount available after a USD withdrawal and a later conversion. Include the Deel withdrawal fee, the receiving service's charges and the exchange-rate difference.
Elevate Pay is a fintech company, not a bank. Banking services are provided by Merchants Commercial Bank, Member FDIC.
Frequently asked questions
Can I withdraw my Deel balance directly to GCash?
Deel's published withdrawal list does not include GCash. You can withdraw to PayPal or Payoneer first, then cash in from that linked account in GCash. See PayPal to GCash and Payoneer to GCash.
Does Deel deduct Philippine taxes from contractor payments?
As a contractor, check your own Philippine registration and filing obligations. Do not assume the payment platform files them for you. Employee payroll arrangements differ. Ask a Philippine tax professional about your circumstances.
What documents might Deel ask me for?
Deel may request identity verification and tax forms. Form W-8BEN documents a non-US individual's foreign status for US withholding and reporting. It does not replace Philippine tax filing.
Choose your withdrawal method
Choose the available route with the fees, currency and timing that suit your payment. For other payroll platforms, see our guides on withdrawing Gusto payments and withdrawing Remote.com payments. For a broader comparison, see how Filipino freelancers get paid.
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