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Demandstudiossucks.com • View topic - How does the pay schedule work?

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How does the pay schedule work?

A forum to bitch about eLance zombies.

How does the pay schedule work?

Postby WalkAway » Tue Mar 06, 2012 9:28 pm

I just had my first proposal accepted this past Sunday (woo!), set to be turned in this Sunday. It's fixed rate and the client has already escrowed the funds. Assuming he releases the escrowed fund this Sunday or Monday, does anyone know how long I'll have to wait to withdraw the money? I know at oDesk there's like a one week waiting period, but I'm not sure about eLance.
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Re: How does the pay schedule work?

Postby The Batman » Tue Mar 06, 2012 11:15 pm

You can request to withdraw it from your Elance account immediately after the client releases the funds from escrow. They have something like 30 days to do that? After you withdraw, Elance will send it to paypal the next business day.
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Re: How does the pay schedule work?

Postby IntestineJello » Wed Mar 07, 2012 6:23 pm

I believe they have 2 weeks to review your work and get back with any requests before automatic release. And yes, as soon as it's approved, you can grab it.
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Re: How does the pay schedule work?

Postby DMS Tech Team » Wed Mar 07, 2012 7:20 pm

I am not too sure about the approval times, but I will chime in in agreement with IJ and Batman. As soon as the client releases escrow and you request a withdrawal, elance gets the payment to PayPal on the next day. That's one of the several things that is un-sucky about elance.
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Re: How does the pay schedule work?

Postby CE_ClueBat » Thu Mar 08, 2012 1:18 pm

I like that they autorelease within 2 weeks for escrow. It used to be a huge problem if a client escrowed and disappeared. Yeah, it didn't happen much, but it did happen. I had to fill out a bitch letter twice when I started there years ago on another account. It made no sense to me to hold escrow when the job was done, but people did it. Usually, you'd win if it was escrow.
"Or, it could be that I don't know everything." ~TheBatman
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Re: How does the pay schedule work?

Postby WalkAway » Thu Mar 08, 2012 4:31 pm

Yeah, that is a really nice feature. The only reason why I think this client will release Sunday or Monday is that he seems to be quick with releasing funds, at least according to his reviews, anyway.

BTW, does anyone know if there's a policy barring multiple accounts? I know there is on oDesk.
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Re: How does the pay schedule work?

Postby disgruntled » Fri Mar 09, 2012 7:22 am

If you haven't already added a withdrawal method for those funds, do it now. Unless you want to get paid by check, you have to wait for 5 days after adding a withdrawal method before you can access the dollar billz, yo.
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Re: How does the pay schedule work?

Postby CE_ClueBat » Fri Mar 09, 2012 11:42 am

"Or, it could be that I don't know everything." ~TheBatman
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Re: How does the pay schedule work?

Postby The Batman » Wed Mar 14, 2012 12:25 am

As an addendum to my previous post, it is possible to get Elance funds on the same day. I requested a withdrawal Monday morning at about 10, and got the money that afternoon. I don't know what the cutoff is exactly.
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Re: How does the pay schedule work?

Postby WalkAway » Wed Mar 14, 2012 2:01 am

Thanks guys, I appreciate it. :D We've had a bit of a delay with the project, so I'm still waiting to mark as complete and request the funds. But it's good to know I'll get my money fast.
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