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Can someone explain advance pay to me?

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#1

*** No need to comment explaining this to me - it’s been explained below multiple times! :slight_smile:

Am I reading this right? I just got offered to take part in Fiverr’s advance-pay thing, where you can withdraw money not yet in your balance under the condition that you will pay it back from your future earnings.

But… Fiverr takes 40% of your future earnings instead of 20%??? Is that correct?

As a condition of your participation in the Fiverr Cash Advance Program, you agree to:
Authorize Fiverr, including Fiverr’s Payment Services Providers (as defined in the Fiverr Payment Terms) to deduct, as agreed, the 40% Take Rate from the Future Receivables owed to you in connection with your completed Gigs on the Fiverr Site;

it also says that if I withdraw 5,000 now, I’ll have to pay back 5,681 later. So what’s the 40% about?

I’ve read the fine print but it’s a lot of legal jargon and I don’t really get it.

EDIT Thank you @cynicalking for explaining, this is what I was confused about and it makes sense to me now :slight_smile:

10 Likes
Cash Advance opportunity
At leat I also Get Fiverr Loan.. 3500$
Can we withdraw advance cash? Seller
Have you experienced this feature yet?
Anyone who Receive Fiverr Cash Advance?
#2

Don’t do it. Not worth it.

(Is this in the Payment part of the ToS?)

4 Likes
#3

Yeah not to be dramatic but I wouldn’t really trust Fiverr with this kind of contract haha! I’m not tempted. I just would like to understand it bc if they’re taking 40% of people’s earnings in exchange for advance pay that’s wild.

I haven’t searched the main ToS for this yet but I’ll prob do that. I found the info I posted in the Terms and Conditions in the advance pay page.

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#4

That’s debt. And credit.

If Fiverr wants to turn into a ‘payday lender’ (loan shark), I’ll be leaving immediately.

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#5

Sounds sort of like those payday-in-advance businesses that seem to be conveniently located next to tobacco and liquor stores…

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#6

Yeah. Seems gross and predatory for me. Some of the decisions Fiverr makes make me really uncomfortable.

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#7

It’s not like they’re taking 40% on top of what they’re “loaning” - it’s being used to pay back the advance. I see it more like credit.

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#8

I would have excepted more cynicism from the cynical king!

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#9

Debt is dumb. This kind of debt is even more foolish.

ALL of us regulars here on the forums have heard EVERY possible story of cancellation, sudden removal of gigs, and plummets in ‘rank’.

This is a terrible, horrible, rotten, no good, very bad idea.

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#10

lol, actually my username is from the music band cynic. Big fan lol.

1 Like
#11

Being from a country with hyperinflation where credit is inexistent, I’m finding it pretty tempting. Don’t find it a bad deal at all.

#12

However, this is money you already earned. So it’s not credit if it’s already yours.

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#13

From what’s said in the OP, this sounds like credit. I would need to see the details. (Help center doesn’t have anything yet, as far as I can see. I’ll look in the ToS next.)

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#14

I’m not following you? They’re giving sellers money in advance, which they have not earned, to be paid back with future earnings from sales. How is it already mine?

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#15

You’re talking about Early Payout, right?

1 Like
#16

OP showed “Fiverr Cash Advance Program” in the quoted section.

And I’m not finding anything in the ToS or Payment page.

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#17

No, this is a new feature appearing on the earnings page, named Cash advance.

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image1106×544 32.4 KB

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#18

Nothing in my page. Maybe you have to have an order in progress?

1 Like
#19

Anyway, I don’t know if there’s an issue with my account or if they jumped the gun with the new feature, because I cannot check the box to accept the terms and conditions to proceed with the cash advance.

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#20

I don’t have that. They just added Early Payout for me today.

Anyway, I don’t see why would you get a loan from Fiverr. I mean, some might, I guess.