Dec 21, 2020 10:21:27 AM by Joseph E
Hello,
We have a freelancer that we pay hourly for an ongoing project. We are wondering if there's a way that we can deposit a large amount of funds into escrow at once rather than our card being charged each week? So for example, if we put $400 in escrow and our freelancer needed to be paid $150 for the week, that money would be taken from our escrow and we'd have $250 remaining in escrow.
Thank you!
Dec 21, 2020 11:22:03 AM Edited Dec 21, 2020 11:24:05 AM by Preston H
Actually... yes, you can do this.
If you set up a fixed-price contract, you can fund milestones in any amount you want to. You can pay in advance. You can change the amount of money released. You could fund a $400 escrow payment, and then release only $150 to a freelancer if that is all he needs for a given week's work.
When you release an escrow payment, you as the client can edit the amount to be anything. Change it to $150. Or zero. Or $500. It is up to you.
Just understand that the freelancer would need to click a button to agree to the $150 payment.