I currently don’t have access to a bank or PayPal account to transfer my funds into so I’m just collecting it in my account because it’s not a big sum of money. I know it’s not the best thing to do in case my account gets disabled but I don’t have much of a choice. Is there a max where I HAVE to transfer it?
Idk if there’s a max, but how much do you have atm?
Remember, Fiverr is not a bank account. It is a business.
Certainly in the UK where I am, should a bank collapse then your money is protected.
However, should a business fail, your money goes with it.
While I would suggest that it is very unlikely that Fiverr will collapse, these are strange times with thousands of businesses large and small failing around the world.
Personally I would withdraw your earnings once they reach a ‘sensible’ amount.
you can!! please active in fiverr. and doing work.
Looking at the stock performance and market indicators (remote work is having a massive boost, where brick and mortar economy is suffering) I would say there’s a high probability that a lot of banks go under before Fiverr does. And there have been plenty of occasions where people lost a lot of money when banks went under. In 2008 people lost billions. It’s not as simple as “money in bank” = 100% safe.
Now, that still doesn’t mean keeping your money on Fiverr is a good idea. You never know if they decide to just screw you over and freeze the funds, for example, or ban your account, or have someone hack you. Not to mention you are losing money to inflation just by having it sit there instead of having it working for you.
Wanna be safe in a crisis? Buy gold, bury it somewhere safe. Then again, nothing is 100% safe. Gold can’t be eaten.