Introducing our new payments process for freelancers
We’ve updated the way we pay our freelancers to make it clearer and easier to know when you’ll be able to access your funds. We understand that planning your finances isn’t easy, so we’ve made these changes to make it as simple as possible for you to know when your funds will be available to withdraw.
Clearing periods
Before any withdrawal of funds, we have to do a certain amount of checks for fraud prevention purposes. This is known as the clearing period. As we have grown as a business, we’ve been required to do more checks before we can release funds. Clearing periods are needed for us to protect you and your money from fraudulent criminal activity.
The length of your clearing period will be determined by how much you have earned on PeoplePerHour in the previous two calendar months.
How does it work?
Express clearing: 3 days
Freelancers with total earnings of over £6,000 (or currency equivalent) in the past 2 calendar months will be able to access their funds after 3 days of a buyer releasing an invoice.
Fast clearing: 7 days
Freelancers with total earnings of over £2,000 (or currency equivalent) in the past 2 calendar months will be able to access their funds after 7 days of a buyer releasing an invoice.
Standard clearing: 14 days
Freelancers with less than £2,000 (or currency equivalent) in the past 2 calendar months will be able to access their funds within 14 days of a buyer releasing an invoice.
For example, if today is the 17th June, we will look at your earnings between the 1st April and 31st May. If your earnings in April and May are £3,200, then your clearing period will be 7 days. The clearing period encompasses weekends as well as weekdays. So, using the example above with a clearing period of 7 days, if a buyer pays your invoice at 1.15pm on Thursday 17th June, your funds will be available to withdraw on Thursday 24th June at 1.15pm.
Following the clearing period, all withdrawal requests will be processed by the PeoplePerHour team within 2 working days.
Clear and easy to understand
We understand that you probably don’t know the exact amount that you’ve earned on our platform during the last two calendar months. That’s why we do the hard work for you to make it clear and easy to understand when you’ll be able to withdraw your earnings. Simply go to the “My Money” tab in the payments section of your account, and you’ll be able to see exactly how much money you’ve earned in the previous two months, and how long your clearing period will be as a result.
We’d like to thank you, and all of our loyal freelancer community in advance for your patience, and we hope that this new payment process will provide more clarity for you moving forward.
