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Faster payouts for hourly contracts

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Active Member
Nishal S Member Since: Sep 10, 2018
681 of 735

Hello, thank you for this but I don't think it means faster payouts.

 

Before this, funds would be available on Wednesday/Thursday & if I were to request the payout, it would deposit into my account on Friday.

 

Now funds are available Thursday/Friday and do not deposit into my account until Monday.

 

Please advise.

 

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Petra R Member Since: Aug 3, 2011
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Nishal S wrote:

Hello, thank you for this but I don't think it means faster payouts.

 

Before this, funds would be available on Wednesday/Thursday & if I were to request the payout, it would deposit into my account on Friday.

 

Now funds are available Thursday/Friday and do not deposit into my account until Monday.


Little thing called "weekend" 

 

Of course it means "faster payout"... How can getting your money in your bank account on Monday instead of on Friday NOT be "faster?"  "payout" is when the funds move to your available balance. What you seem to be talking about is "withdrawal to local bank" which takes 2 business days. So if you withdraw on Wednesday, the time to reach your bank account is two business days.

When you withdraw on Thursday, it also takes 2 business days (Friday and Monday, with the "weekend" not being business days.

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Nishal S Member Since: Sep 10, 2018
683 of 735

Hello, thank you for the reply.

 

I apologize for not clarifying.

 

Prior to the 'faster payout', my hourly contracts I would get by Friday of the same week that I requested the payout, which occured on Wednesday/Thursday.

 

Now the payout is not showing in my bank account until Monday/Tuesday of the next week.

 

So it is not faster in my opinion when looking at payment history & this new format.

 

To better reference dates for this scenario.

 

Pre- faster payout new setup, I would see payment available from Upwork for hourly contracts on Wednesday June 17, request the payment to bank and receive payment into my bank by Friday June 19.

 

Now with faster payout, the payment does not show as available until Thursday June 18, and payment not received into my bank until Monday June 22.

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Petra R Member Since: Aug 3, 2011
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Nishal S wrote:

 

Pre- faster payout new setup, I would see payment available from Upwork for hourly contracts on Wednesday June 17, request the payment to bank and receive payment into my bank by Friday June 19.

 

Now with faster payout, the payment does not show as available until Thursday June 18, and payment not received into my bank until Monday June 22.


**Edited for Community Guidelines**

 

Let's look at the hours you logged ruring the week of the 8th to the 14th of June:


Under the old system, the money for those hours would become available on Wednesday the 24rth, and be in your bank account on Friday the 26th.(5 days of review, 5 days of pending)

 

Under the new system, the money has ALREADY become available yesterday, on the 19th, and will be in your bank account on Monday the 22nd. (5 days of review, NO days in pending)

 

Now please explain to me how the 26th of June is earlier than the the 22nd of June **Edited for Community Guidelines**

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Hasanat A Member Since: Feb 17, 2015
685 of 735

Why there's a security hold when a client gives a bonus?

 

I know the security hold is to prevent any fradulant activity and it's necessary for both hourly and fixed-price jobs. But when a client gives a bonus to a contractor based on his/her performance, there's no point of holding the payment for five days. In my 10 years of freelancing career here in Upwork, not a single client asked for a refund of the bonus they paid or filed a dispute for that.

 

It'd be great (and practical too) if the there's no or minimum security hold for bonuses.

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M. Nazrul I Member Since: Dec 3, 2016
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ThanksSmiley Wink more kudos
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Community Guru
Phyllis G Member Since: Sep 8, 2016
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Apologize if this has been asked and answered but I lack both time and patience to read through the 69-page thread.

 

For the past several weeks I've had two hourly projects going, and appreciate that the funds are available each Friday instead of the following Wednesday, as in the past. HOWEVER, today the funds for one project are available while the funds for the other are still Pending until next week. I can't figure out why. Can someone give me a clue?

Thanks!

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J. Alberto S Member Since: Feb 6, 2008
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Thanks a lot! I really appreciate this help.

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Bojan S Moderator Member Since: Mar 9, 2018
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Hi Phyllis,

 

If there are any issues with charging the client's billing method on time or the client disputes your hours, your payment will be delayed. Unfortunately, we won't be able to share more information about the client's account, however, you will receive a notification if there are further issues with the contract.

 

Thank you!


~ Bojan
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Phyllis G Member Since: Sep 8, 2016
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Bojan S wrote:

Hi Phyllis,

 

If there are any issues with charging the client's billing method on time or the client disputes your hours, your payment will be delayed. Unfortunately, we won't be able to share more information about the client's account, however, you will receive a notification if there are further issues with the contract.

 

Thank you!


Thanks, Bojan. To be clear, I have not received any notification about any kind of problem whatsoever. The funds simply are still pending, while funds for the other hourly project billed last week were available this morning. Does the fact they are still pending mean there is a problem, regardless of whether or not I've received notification?

 

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