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ยป Forums ยป Freelancers ยป Re: Can someone explain how money/payment wor...
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djpaproth
Community Member

Can someone explain how money/payment works to me please?

Bit ignorant as I'm new to Upwork!

 

So I did two jobs, worth US$125 all up, US$25 of that service fees, leaving me with US$100.

 

My payment cycle came around, and US$84.01 (plus US$0.99 withdrawal fee) was sent to my nominated bank account, leaving US$15 in my account.

 

I am sure there's a reason for this, but can someone explain to me why the full US$100 wasn't sent, only US$84.01?

 

Thanks!

10 REPLIES 10
data_divas
Community Member

$125.00 Earned

Less 20% Upwork fees = $100

$100 less $.99 = $99.01

$99.01 less $15.00 balance left in account = $84.01

petra_r
Community Member


Daniel P wrote:

 

My payment cycle came around, and US$84.01 (plus US$0.99 withdrawal fee) was sent to my nominated bank account, leaving US$15 in my account.

 

I am sure there's a reason for this, but can someone explain to me why the full US$100 wasn't sent, only US$84.01?


Either you set up your withdrawal schedule to leave a reserve for connects or membership, or the $ 15 were not yet available to withdraw at the time of your autowithdrawal. 

 

Also note that you can withdraw money manually at any time and any amount up to the available balance, you don't have to wait for the scheduled date.

 

Screenshot at Jan 23 05-53-35.png

thank you - under where can I see this? ๐Ÿ™‚


Daniel P wrote:

thank you - under where can I see this? ๐Ÿ™‚


Under Settings > Get Paid

I asked to maintain a reserve balance and it seems not to have taken effect yet; why would that be?

AveryO
Community Manager
Community Manager

Hi Sheila, 


It looks like you did two withdrawals on February 12, and February 10. I'd like to note that this reserve balance applies when the system automatically withdraws your earnings to your payment method based on your payment schedule.

 

Let me know if you have other questions so that I can assist you further. 


~ Avery
Upwork

Oh, I was thinking it'd show on the transaction page as reserved and it
would not be readily available. To me, that would be why it's called
"reserve."

Thanks,
Sheila
AveryO
Community Manager
Community Manager

Hi Daniel, 

I'm sorry for the delay as I had to look into this further. Petra is correct. You have set a reserve balance of $15 which is why only $84 was sent to your account. 

 

 


~ Avery
Upwork
nelfortes
Community Member

Hello. Can I ask what is a reserve balance on upwork and is it necessary? Thank you.

Hi Marinelle,

 

This option allows freelancers to set aside a portion of their earnings that they can use to purchase Connects. To set aside an Upwork balance to purchase connects, please go to your settings> get paid> edit payment schedule. From there, kindly set up the amount you prefer to set aside on the "maintain a reserved balance" option.

~ Joanne
Upwork
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