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It's My Birthday! OMG My Pay Didn't Show Up /wrists

lysis10
Community Guru
Jennifer M Member Since: May 17, 2015
11 of 17

Matthew T wrote:

 

Sorry Ma'am, what is it you are basing those numbers on? my bank, Bank of America, Fort Worth branch, transfer from UpWork Escrow are credited as soon as initiated, I always notice it later the same day.

 

Which banking institution does the schedule in which you refer apply to?

 

Edit: I should note that in an effort to see if there was any kind of wait "sometimes" I went back and reviewed all my previous withdraws and the coinciding deposits at the bank, it looks like a couple of times it has taken a couple of days but otherwise, instant.

 

 


I don't really want to say what bank I use on a public forum, but I had 224 transactions last year on Upwork and money is deposited on a schedule every single time. The only time it's ever changed was when they accidentally released money early like a lonnnnnnnnnng time ago and then that one time I did get money on Saturday, so I think it has something to do with how they batch withdraws but idk for sure.

 

But I'm interested in your last paragraph. Are you saying that with an ACH transfer from Upwork to your bank you've seen instant deposits? That's interesting.

matt_it_grow
Community Leader
Matthew T Member Since: Nov 18, 2017
12 of 17

Jennifer M wrote:

Matthew T wrote:

 

Sorry Ma'am, what is it you are basing those numbers on? my bank, Bank of America, Fort Worth branch, transfer from UpWork Escrow are credited as soon as initiated, I always notice it later the same day.

 

Which banking institution does the schedule in which you refer apply to?

 

Edit: I should note that in an effort to see if there was any kind of wait "sometimes" I went back and reviewed all my previous withdraws and the coinciding deposits at the bank, it looks like a couple of times it has taken a couple of days but otherwise, instant.

 

 


I don't really want to say what bank I use on a public forum,

 

But I'm interested in your last paragraph. Are you saying that with an ACH transfer from Upwork to your bank you've seen instant deposits? That's interesting.


You are qute right and I appologize for asking Jennifer, I was thinking that at some banks they might not have the same policies, I had Chase for a time and at Chase I got paychecks on payday, but with BoA I would receive the paycheck the day before payday and thought the same might apply.

 

Yes ma'am though I will note, that I have not had a long enough period of transfering to the bank for an expert sample, just from when I switched away from PayPal and to Square Invoicing, at that time I updated my withdrawal target to be BoA and honestly never paid much attention to when it came in, it wasn't until I was trying to plan this weekend, plan the 5 day hold and release, then the transfer to me. The only reason I thought I had a chance was because last week, I did notice that the funds arrived on the same day, that was just by chance since I had to hit the ATM that afternoon and the balance on the receipt wasn't as pitiful as it should have been, so I looked closer.

lysis10
Community Guru
Jennifer M Member Since: May 17, 2015
13 of 17

Matthew T wrote:


You are qute right and I appologize for asking Jennifer, I was thinking that at some banks they might not have the same policies, I had Chase for a time and at Chase I got paychecks on payday, but with BoA I would receive the paycheck the day before payday and thought the same might apply.

 

Yes ma'am though I will note, that I have not had a long enough period of transfering to the bank for an expert sample, just from when I switched away from PayPal and to Square Invoicing, at that time I updated my withdrawal target to be BoA and honestly never paid much attention to when it came in, it wasn't until I was trying to plan this weekend, plan the 5 day hold and release, then the transfer to me. The only reason I thought I had a chance was because last week, I did notice that the funds arrived on the same day, that was just by chance since I had to hit the ATM that afternoon and the balance on the receipt wasn't as pitiful as it should have been, so I looked closer.


Hey no worries on asking. Thanks for the info. I know ACH transfer is usually fast. Upwork is the only place that takes so long for me. I just had a theory that they might batch transfers at the end of the night PST, which would explain why (for instance) if I withdraw Tuesday night 7pm my time that I don't get money until Thursday. But withdrawing on Thursday and not seeing the money until Tuesday the following week seems too long for ACH transfer. But Upwork's time frame for transfer is always the same, so in a way I appreciate knowing when I'll see the money so I can budget.

 

But thanks for the info on instant transfer for you. Blows my theory out the window.

tlbp
Community Guru
Tonya P Member Since: Nov 26, 2015
14 of 17

Jennifer M wrote:

Matthew T wrote:

 

Sorry Ma'am, what is it you are basing those numbers on? my bank, Bank of America, Fort Worth branch, transfer from UpWork Escrow are credited as soon as initiated, I always notice it later the same day.

 

Which banking institution does the schedule in which you refer apply to?

 

Edit: I should note that in an effort to see if there was any kind of wait "sometimes" I went back and reviewed all my previous withdraws and the coinciding deposits at the bank, it looks like a couple of times it has taken a couple of days but otherwise, instant.

 

 


I don't really want to say what bank I use on a public forum, but I had 224 transactions last year on Upwork and money is deposited on a schedule every single time. The only time it's ever changed was when they accidentally released money early like a lonnnnnnnnnng time ago and then that one time I did get money on Saturday, so I think it has something to do with how they batch withdraws but idk for sure.

 

But I'm interested in your last paragraph. Are you saying that with an ACH transfer from Upwork to your bank you've seen instant deposits? That's interesting.


 My transfers have never shown up on the same day. I'm really surprised that OPs ever did. But, hoping for same day clearance is cutting things pretty close. 

jessicasimko
Community Guru
Jessica S Member Since: Dec 4, 2015
15 of 17

Jennifer M wrote:

For whatever reason, you won't see that money until Tuesday. Anything withdrawn Thurs-Sunday isn't in your bank account until Tues. Anything withdrawn Mon-Wed is in your account in 2 days. The Thurs withdraw is what throws me off. Not sure why it takes so long when money can be deposited on a Saturday. But it's been that way for a long time.

 

If you need the money right away, spend the $2 to send to PayPal. Withdraw from PayPal. Morning withdraws you'll see same day. At night, you will see it the next day unless it's really late. I think PayPal says by 6pm PST to see money the next day.


This might vary from bank to bank. When I withdraw from here, my funds are in my bank account the next day.  It does take longer on weekends but if I withdraw Mon-Thurs, I see it the next day.

matt_it_grow
Community Leader
Matthew T Member Since: Nov 18, 2017
16 of 17

Jessica S wrote:

Jennifer M wrote:

For whatever reason, you won't see that money until Tuesday. Anything withdrawn Thurs-Sunday isn't in your bank account until Tues. Anything withdrawn Mon-Wed is in your account in 2 days. The Thurs withdraw is what throws me off. Not sure why it takes so long when money can be deposited on a Saturday. But it's been that way for a long time.

 

If you need the money right away, spend the $2 to send to PayPal. Withdraw from PayPal. Morning withdraws you'll see same day. At night, you will see it the next day unless it's really late. I think PayPal says by 6pm PST to see money the next day.


This might vary from bank to bank. When I withdraw from here, my funds are in my bank account the next day.  It does take longer on weekends but if I withdraw Mon-Thurs, I see it the next day.


This is the biggest problem right? There is no verifiable process, Bank of America will receive and clear an ACH 24/7, day time holiday, none of that matters, why would it in todays technological culture, until you see the value added to a companies financial portfolio by those funds pending arrival and pending release, release is an instantaneous data query.

 

But, consider if you are a CFO trying to pad your companies liquid capital just so long, now think of in on the tens of thousands is not hundreds of thousands level, well maybe these 27.000 bank transfers are going to tak 5 days and those 17,000 over there only need to take 3 days........ on and on and on to produce and provide a base of liquid capital thus increasing the companies worth, see where I'm going with this?

 

The financial gateways like Square and banks like Bank of America who are putting their customers first are ruining the accepted practice. Credit Card funds available, instant 24/7, transfer to bank, instant 24/7, funds available at bank, instant 24/7. They are not even the big players, they don't have super sophisticated hardware, secret software, or some special deal, they are just letting us have our stuff instead of using it to pad their capital.

 

Probably, you know, looks that way, I hack Google for a living I have no idea what I'm talking about unless you want psychological paths to conversion on pages that my GF, the Google bot, thinks deserve position 0 everytime.

 

It's just annoying because you sinply do, not, know, some time or another in 4 day, probably.

tlbp
Community Guru
Tonya P Member Since: Nov 26, 2015
17 of 17

I would imagine a CFO would plan for the longest potential delay rather than counting on the least. A disappointing outcome is not the same as an unexpected or inappropriate one. 

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