At PeoplePerHour, we take pride in our high level of customer service and listening to our community’s feedback. Over the past few days, some of our freelance community have mentioned that they’ve noticed their payment processing is taking longer than usual. To help clear any misunderstanding, we wanted to explain why some of you may have experienced this.
As a business that manages thousands of payments made between our buyers and freelancers every day, there are certain regulations that we have to follow. Over the past year, we’ve seen extraordinary growth in our business which we are extremely proud of. However, this also means that we have to now follow stricter regulations and complete more checks before we can release payments that are made through our marketplace.
Unfortunately, these extra regulatory processes – to prevent issues such as fraud or money laundering – mean that our payment processing time now takes a little longer than previously. All funds paid out from buyers are kept in external escrow accounts so are always 100% secure. Whilst our payments withdrawal time has been lengthened, we remain quicker than our competitors where 2 weeks is the standard time taken to withdraw funds.
Please rest assured that we’re still committed to providing the quickest and easiest way to withdraw funds in the freelancer marketplace industry. Over the past 14 years, we have paid out in excess of £130m to our freelancer community and we are as devoted as ever to our mission of helping entrepreneurs turn their bright ideas into reality.
We appreciate your understanding and look forward to continuing the amazing work that takes place through our marketplace in the future.