Freelancer.com - Payment Methods and Mechanisms
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There are no delays built into the system. Payment transactions are asynchronous, with funds being credited to the freelancer’s account as soon as payment is made by the client (less applicable fees, of course.)
Freelancer.com is, in my opinion, somewhat contradictory in its treatment of advance payments. It allows advance payments, but warns clients that the company will not be held responsible for any loss of funds resulting from giving contractors money up front. Yet at the same time, it puts a box in its proposal page for contractors to request an initial milestone payment; these milestones can also be used for advance payments, which is somewhat confusing.
Advance payments are a controversial topic. Some professional freelancers ask for advance payments as a matter of course, but this can be very dangerous to clients—especially on a site with a large percentage of overseas contractors. If you prefer advance payments, be prepared to justify the client why they should be able to trust you. Of course, this is much easier to do if you already have a lengthy track record and good feedback.
Freelancer.com offers four methods for withdrawing funds from your account:
Note that there is no option to receive funds by paper check.
Freelancer.com appears to process withdrawal requests using a weekly schedule. Withdrawal requests must be received by 5 pm Eastern Time on Sunday, in order to be processed on Monday or Tuesday of the following week. Presumably, requests received after that time are delayed a full week until the following cycle.
The first withdrawal request may incur a delay of up to 15 days “for security reasons” that are not specified.
There’s a $1 charge for Paypal withdrawals; the others appear to be free.
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Last Site Update: December 13, 2011
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