My apologies if this has been discussed or there’s a help topic on this one, but why do earned funds on Fiverr take so long to clear? Are they hoping we’ll spend the money on Gigs rather than withdrawing it?
Come on Fiverr, give us small businesses a chance.
I assume the clearing process takes so long to allow for disputes. In case a buyer had a problem with your delivered work and wanted a refund or something, they would need to contact Customer Support and work it out with them. This usually wouldn’t take 14-17 days to clear up, but if the buyer doesn’t contact Customer Support right away, it could.
So, they are probably just trying to give the buyer ample time to submit their complaint and get it resolved. Which I feel is very fair.
I agree though, it is a bit of an annoyance to sellers. However, Fiverr must take all necessary measures to keep both buyers and sellers safe and happy. Can’t make everyone happy though.
Reply to @oldbittygrandma: Yes, I don’t know for sure either, but it seems to be the most logical reason I can think of. It may be for more than one reason also!
They should have something in place for if a Gig has received a positive review from the buyer, then the funds are released almost immediately. However, if the Gig received a negative review or was cancelled and/or reordered, then hold the funds.
Thanks for all your feedback, I’ll have to see if I can find the section on fund clearance in their terms and have a read up on it.
Reply to @indiemunity: Hmm… well, that’s not a bad suggestion. Assuming that the ONLY reason that funds take a while to clear is to allow time for disputes.
But, there could be other reasons as well.
Perhaps you could suggest it in the suggestion box and see what happens.
I’m sure there are a few other reasons. LOL.
But the Positive review thing won’t work for a few reasons. One of which is the buyer could change there feedback.
The main reason I think is that 14 days is the time in which someone can file a dispute on Pay-Pal itself, in which case Fiverr is then on the hook since it all goes through Fiverr. So, a buyer could buy a gig, leave feedback and a week later go onto Pay-Pal and dispute the purchase, leaving Fiverr completely out of the loop and penalized for the transaction. So. 2 weeks makes up the dispute window. That’s what I think anyhow.
What bothers me the most about this is the fact that all my gigs require physical goods, Wood, Stain, etc… and then I have to pay the shipping. In the mean time my money sits in their pockets for 2 weeks, and that product is already paid for and sent and the customer has received it a good week before the payment is posted.
At lest release the money for shipping so that were not floating fiverr for that time.
Well. Look at the bright side. At least you get paid. LOL
And if you stop getting orders, you’ll get money for a full 2 weeks after.
You could also look at it like a real job. In most cases they hold back a week. So, if you have a job that pays every two weeks you actually don’t see your first pay check for 3 weeks. In that sense Fiverr is faster than a 9-5 job.
Revenues are only made available for withdrawal after a safety clearance period of 14 days.
BBB, yeah, I guess it is like a real job, paid fortnightly and thanks ozzie.
IMHO withdrawal should be bound to levels (after a safety clearance) for example :
- New User 14 days
- Lvl 1 10 days
- Lvl 2 7 days
- Top rated seller 3 days
I agree - I think a level-based system would work well. If you’re a level 1, 2 or obviously top rated you have well-established that you deliver solid work with high ratings.
14 days is a long time.
@visualarts - That method of clearing funds is irrelevant to the point of why Fiverr makes us wait so long. It has nothing to do with the level of trust with us, sellers, but instead they do it to protect us from buyers. So it wouldn’t matter if we were level 1 or a TRS; it’s toplay it safe when dealing with buyers.
I’m actually in aggreement with the wait time. Yeah, it might not be convenient in a matter of being able to spend what we earn right away, but in a different perspective it is convenient in regards to financial security