Hi. I've been apart of Elance/Upwork since 2012. And since the switch over to Upwork from Elance there is something I must get off my chest and I'm not sure how many of the other freelancers out there agree: Upwork's payment system is a SERIOUS downgrade from Elance. For the life of me, and maybe you can enlighten me here, I don't understand the five day waiting period AFTER a payment is released. Elance was never like this. It defeats the whole point of an escrow account. Doesn't an escrow exist so that the funding is there already in a neutral account and when the client is satisfied and the funding is released, it's immediately available? Where does this five day waiting period come in? What is the point? Upwork's blanket, unsatisfactory explanation of this is that it's for the security of the client and freelancer. But, again, that is what an escrow account is for. So that you know the money is funded and legit before it's released on the other end. It just seems like a pointless frustration. And that 5 day waiting period oftentimes leads to the money not being in your account for over a week after it's RELEASED, dependig on the timing. Maybe I'm just whining. But maybe this is a legitimate gripe. Anybody else agree?
If you read other threads you'll see that Upwork is already working on reducing the time. It's not their policy but the policy of the Escrow company.
Anyway, this is really no longer a conern.
"It's not their policy but the policy of the Escrow company."
An escrow company which is owned by Upwork.
- Box, Logan's Run (1976)
Any updates on when the immediate pay will begin for Upwork? You stated that it was no longer an issue, so I was just wondering if you had the inside scoop on it.
Yes, many, many people feel the way you do.
I'm not one of them,but every few days we see a lengthy thread in which numerous freelancers complain about the payment delay.
There's something else I do not understand. Why 5 days mandatory "In review"?
For a conversation with a client, I knew that there is not a "button" so they can give for good work and the money is released. He wants release it, but he can't.
Since you finish the job until the you charge spend two weeks minimum. If the client releases the money before you charge before you work, right?
It seems that they are interested have the money in your account as long as possible ...
We have confirmed before that Upwork doen't earn interest on holding the funds during the security period. The hold is in place solely for security purposes.
Our team has recently been testing ways to shorten security period for certain transactions.