I GET IT I REALLY DO,
BUT A LOT OF US HAVE THINGS TO DO AND HAVIN THAT MONEY IN OUR ACCOUNTS WOULD BE FANTASTIC.
I THOUGHT IT WAS ENOUGH THAT FIVER TAKES PRACTICALLY HALF OUR EARNINGS
AFTER 5$ BY THE TIME IT GETS TO MY ACCOUNT ITS 3.75 OR SOMETHING LIKE THAT , SO YOU COULD AT LEAST MAKE THE WAITING PERIOD SHORTER
I GET IT I REALLY DO,
Fiverr actually doesn’t take all of that. You can use your earnings withdrawal efficiently and avoid much of your problem. Fiverr takes exactly 20%, so $1 out of $5 leaving you with $4 and they don’t take more, certainly not half (50%.) It is PayPal that reduces it to $3.XX but you can really help yourself with that part. PayPal won’t ever charge you more than one dollar per withdrawal no matter how much you take out.
If you wait until you have at least $50 in earnings, you will receive $49 of that in PayPal which is pretty good. Once you get it into a routine where you withdraw every 2 weeks or once a month, the clearance period of 14 days isn’t that noticeable anymore. If you really need 4 bucks faster than that you are better off doing small jobs for cash near your home. Honestly, your sales might improve too if you made your profile description and image professional. Using profanity to describe your services on a professional site isn’t helping you any.
I totally agree it is ridicules to have to wait 14 days, at least they can shorten it to 1 week!!!
Fiverr need to make only 5 days, other freelance website (the big ones) don’t have this much time.
I think that fiverr use this money in bank to make daily interest, imagine 1million dollars held every day.
Coming from a background in banking, most likely no, they’re not trying to earn daily interest off your money. They’re likely holding those funds due to their bank’s process in dealing with Chargebacks. I have a feeling if you read the fine print of the other freelance sites, if the site is charged back you get debited and owe that money back. That 14 days clears us of that worry here. I’ll take the 14 days and not have to wonder if I’m going to get charged by Fiverr later if/when a charge is disputed.
Is it annoying to wait? Sure. As stated above, once you have work flowing in, it’s better. Honestly, I don’t even notice the 14 days anymore, and I’m probably a midland seller at best.
You let the funds build up and you’re good as far as PayPal fees go.
Reply to @madmoo: Meaning you will be the one charged for the dispute?
Reply to @holledolce: @madmoo is right that you can indeed be charged after the 14 day period BUT that said, I personally think the waiting period reduces the chances. Many buyers who are going to file a chargeback will do so pretty quickly. If they do it before the money clears, at least your Fiverr account doesn’t go in the negative. For me, that has been worth it except when I was new and didn’t have regular sales coming through.
There is no way I know of to avoid the chance of a chargeback altogether but I am with you that I’d rather wait out the 14 days and not think of the money as “mine” until that time passes. Just my personal opinion as a seller, though.
14 days is really a long waiting period. I’m not sure why Fiverr needs to hold cash that long unless they need it for their own cash flow to continue to operate. Other bets would be on that there could actually be significant interest earned on large sums being held into another month or quarter accounting period. An accounting, financial decision on the part of the management, founders, investors, etc.- that’s a sneaking possibility. If Fiverr accountants aren’t doing this… they may want to look into it.
It is true, we give up quite a bit of our earnings to keep this site operational and profitable. 20% can be a tough sum to give up on a low ball pricing scheme. In thinking about that… why in the world am I limited to what I can charge clients for my services. Having to lowball, especially in the initial use of Fivver only worsens the situation for freelancers.
I don’t mind Fiverr being profitable, but as anyone who freelances knows that cash flow is essential to continuing a patterns of success, because the last thing a freelancer wants to be thinking about is - where’s my money?
So…If you ask me ( yeh… i know…no one has asked me) I’d say 7 days is plenty of time to clear, and if the accountants are really smart they could reset there accounts to turnover at appropriate times and still earn quite a bit of interest that can be accrued by NOT paying it’s clients/customers for the 14 days. Just some thoughts from one more Fiverr user trying to make this work.
we want to short the interval of time period of clarence of money…
Top Rated Sellers are eligible to withdraw revenue following a safety clearance period of 7 days after the order is marked as complete.
Ressuraction of 1 year old thread. This topic is now closed for new entries. Please refer to Fiverr’s TOS linked above!