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