My Client released payment on 07/15. Payment approved after "security hold" on 07/21. I withdrew on that date, but here I sit on 07/24 and the payment still has not been recieved into my account. What gives?
Ten days is far too long to hold the moey hostage to your feigned "security" concerns. You had the money in escrow, using it to earn more money. You had it for another six days - - for what reason? To earn more money on the short-term lending game. And now you're still holding my money.
Please understand that this is not acceptable. This is not an appropriate way of doing business. You already take almost 1/4 of our earnings right up front. Do you also have to hold our earnings hostage like Plantation Managers?
lol you realize that upwork isn't holding your money, right? You realize transfers take time, right? Why would you think they are holding your money after you request payment?
Once withdrawn, Upwork does not have any influence over your money, and international bank transactions take time. Your wild accusations of Upwork making money from Escrow funds or during the 5 (not 6) day security period is also nonsense.
You may want to ask your bank how long international bank transfers take. A few days is completely normal.
To equate any of this with slave labour is not just plain insane, but deeply distasteful.
Distatseful it may be, but really, my bank honors all transfers within 24 hours. This is the *only* time that one has taken so long. My first transaction (for just $24) through Upwork went through overnight.
This one is taking longer becuase it is larger? Why?
I understand the business model. Holding money equate earning money. I used to work in financial services. Overnight lending was where the profit was. But that is not what UpWork is supposed to be about.
I contacted my bank. They have no clue about a pending deposit. Tell me again why?
@Constance J wrote:
I understand the business model.
Clearly you do not.
It's worth noting that the 21st was Friday and this is Sunday. There have been no bank business days since you initiated the transfer.
@Constance J wrote:
Oh. I. Really. Do.
What are you? Like twenty-three years old? Never heard of overnight lending? Smhh. PayPal made a few multi-billion of the model.
Thanks for the compliment. I'm 51, a former attorney, and have worked extensively in consumer financial protection.
Of course, none of that is relevant to Upwork's business model, since Upwork does not lend money and is not a financial institution. The hold period is five days. The transfer is initiated when you transfer available funds, or your automatic withdrawal date rolls around.
Discussing how Paypal made its money is about as relevant here as discussing the best methods for making corn pest resistant.