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5-Day Hold Period

tlsanders
Community Guru
Tiffany S Member Since: Jan 15, 2016
1 of 17

A little something for those always complaining about the "ridiculously long time" it takes to get paid around here:

 

Payment Timelines.JPG

 

Lots of other interesting stuff in the source report: https://contentwonk.com/wp-content/uploads/2017/12/2018FreelanceWritersSurveyByContentWonk.pdf

bobafett999
Community Guru
Prashant P Member Since: Sep 29, 2015
2 of 17

Interesting that only about 10-15% of their work comes from freelancing sites.

tlsanders
Community Guru
Tiffany S Member Since: Jan 15, 2016
3 of 17

It is interesting, but doesn't surprise me. I think there is an impression that freelancing sites play a bigger role than they do, because they're very visible and have allowed people to enter the freelancing market who didn't know how to get started before. But, freelancing predates platforms by many decades, and a lot of us were making a living this way before freelancing sites existed.

 

I will be interested to see which direction this trend goes. I can see a possibility both that those getting started on freelancing sites will move away from platforms and the opposite--that experienced freelancers who spend a lot of time hustling for work will embrace platforms. I've been freelancing for 30+ years and just started using Upwork about two years ago, almost by accident, but stayed because it cuts down the time investment in tasks like connecting with new clients and invoicing so much. After two years, about 1/3 of my ongoing clients are from Upwork.

creativedigit
Community Guru
Wassim T Member Since: May 29, 2015
4 of 17
The only exception here Tiffany, is that the client has already paid the invoice, but it's Upwork who is holding the money for 5 days, which is different from what is described in your brief, as it showcases the time someone gets paid by their client from the time the invoice was sent.

As you know already, the client has up to 14 days on Upwork to approve the payment after sending an invoice (aka milestone release on Upwork), and the after that there's those 5 hold days. And for me, this IS "ridiculous long time". The client paid, give me my money :")

Merry Christmas.

Best regards,
Wassim
tlsanders
Community Guru
Tiffany S Member Since: Jan 15, 2016
5 of 17

Wassim, obviously the specifics are a bit different...but, given the number of people we see howling in the forums about how Upwork can expect anyone to survive when they have to wait "up to two weeks!!!!!!" to get paid (you know, like virtually every person in the world with a full-time job does), it's informative that among this large group of freelancers, more than half place the average turnaround time at two weeks or more (and more than 20% at more than a month).

creativedigit
Community Guru
Wassim T Member Since: May 29, 2015
6 of 17
Hi Tiffany. I understand where you are coming from and 5, 10 or even 15 days is not the end of the world. All I am saying is that I would have understood it better if this timing was in the client's hand and not Upwork, which I absolutely wouldn't mind. But knowing that the client has paid and Upwork is holding this money in their bank account for an X amount of days is kind of annoying. Having said so, I understand there's some security metrics that Upwork need to take before they allow you to access the money, but I can't understand why they can't take these security metrics from the time the milestone has been funded and not released, because that's when the client's account has been charged anyway. Cheers.
petra_r
Community Guru
Petra R Member Since: Aug 3, 2011
7 of 17

@Wassim T wrote:
 Having said so, I understand there's some security metrics that Upwork need to take before they allow you to access the money, but I can't understand why they can't take these security metrics from the time the milestone has been funded and not released, because that's when the client's account has been charged anyway. Cheers.

 Because the release may not have been done by the person whose payment method it is, might have been done to the wrong person / contract / not by the client / for the wrong amount or dozens of other potential issues which could funnel large or even huge amounts of money irretrievably within literally minutes.

 

creativedigit
Community Guru
Wassim T Member Since: May 29, 2015
8 of 17
Doesn't make sense. The same things you mentioned apply to any other purchase online and on any website.
petra_r
Community Guru
Petra R Member Since: Aug 3, 2011
9 of 17

@Wassim T wrote:
Doesn't make sense. The same things you mentioned apply to any other purchase online and on any website.

 OK, Wassim. I don't want to start the same old debate over again.

 

Fact remains that for the time being it is what it is and whether we agree that it makes sense or not, we can take it "as is" or leave it be and go elsewhere.

 

My other income channels pay out considerably later than after 5 days (Amazon pay royalities at the end of the month following the transaction for example (so at least a month, up to nearly two, after the buyer's card was charged), another pays quarterly) and frankly it makes no difference to me whether the money I withdraw is this week's or last week's. It's all money.

 

And if I did mind it would still be what it is, as that's what I signed up for.

 

 

creativedigit
Community Guru
Wassim T Member Since: May 29, 2015
10 of 17
Hey Petra,

I never thought of this as a debate quite honestly but as a fair discussion. I am not saying "you" don't make sense, I was simply highlighting that the idea - in my humble opinion and in the context that you put it in - didn't make sense to me, but it probably does make sense to other people and I don't claim to be faultless as we're all humans.

It's a blessing that we have different opinions. While I disagree with you and Tiffany on this matter, I'm a huge fan of your invaluable inputs everywhere around the forum. I want you gals to know that I do appreciate you and your opinions, and when I object or disagree it all comes in the fair game of discussion and having different ideas, but this doesn't stop me from wanting to learn from you and listen to what you have to say.

Have a good one.

Best regards,
Wassim
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