How to Send and Receive Payments at Freelancer.com
You now have your shiny, new Freelancer.com account. You've completed your profile, and you've figured out the projects you want to work on. The next thing you'd want to do of course is to manage payments on your account. How exactly do you pay or get paid on the site?
When you start a project, you can choose to deposit funds to your account at once so you can readily make payments once your project gets awarded and completed. To deposit funds, hover over your account balance at the upper right side of your Dashboard and select Deposit Funds.
On your Deposit Funds page, select the payment method you want to use and fill out the details of your deposit. For more information about depositing funds on the site, please click here.
When you deposit funds on the site, a billing agreement will be created. This links the used payment method to your Freelancer.com account. If you need to pay for a fee (e.g. project fee) and you have no balance on your account, funds will be automatically deducted from your verified payment method and deposited to your account to cover the fee.
Payment Method Verification
If you wish to have another source from which funds can be taken, you can verify a different payment method. Your Verified Payment Method will be the primary source of funds from which your site fees or project payments will be taken if you have no available or insufficient balance on your Freelancer.com account.
To verify, hover over your balance and select Verify Payment Method. You will be given three payment method options: Credit Card, PayPal account, or Skrill account. Choose your preferred payment method and follow the instructions given. Upon verification, a billing agreement will be created.
How to Pay
There are three forms of payments that can be made on projects - through Milestone Payments, Transfer Funds, and Invoices.
1) Milestone Payments
Milestone Payments are the safest and most secure form of payment for awarded and accepted projects on the site. Through the Milestone Payment System, the employer can fund payments and release them to the freelancer at any time during the project's progress or right after project completion. For created or pending Milestone Payments, however, only the freelancer can cancel them or return them to the employer once they accept the project award.
This fair control over a project's Milestone Payments provides assurance to freelancers that the employer is legitimate and willing to pay for their work. Employers, on the other hand, will rest easy knowing that their payments will only be released once the work is completed and they are completely satisfied with it.
Should project issues arise, the freelancer and employer can turn to the Dispute Resolution Service, wherein they can place a claim on the project's pending Milestone Payment.
Milestone Payments can be created through your project page. Just click Create Milestone. You can send the payment to the freelancer by clicking Release. We recommend that you release payments only after all project deliverable is given and you are 100% happy with it.
2) Transfer Funds
Payments can also be done through the Transfer Funds option. This lets employers transfer payments directly to freelancers, provided that there is an active project involved. Unlike Milestone Payments, however, both parties will not have access to the Dispute Resolution Service if they use this payment option.
Payments made with Transfer Funds are final and irreversible. To transfer funds, hover your mouse over your balance on top of your Dashboard and select Finances.
For hourly projects, payments are now made through invoices. These are automatically generated for the work hours rendered by the awarded freelancer on an hourly project. With the Desktop App required for freelancers to download on their hourly projects, employers can easily monitor the progress of their freelancers' work as the app can track freelancers' work hours, take screenshots of their work, manage file sharing between both parties, and act as a means of communication for them.
For employers' convenience, automatic payment is done on a weekly basis for generated invoices when the employer sets up their payment method for billing. Manual invoices, on the other hand, are paid through the project page by clicking Pay.
How to Get Paid
Freelancers can receive payments in the form of Milestone Payments, transferred funds, and invoices. Once payments are released by the employer, the funds will be transferred to the freelancer's account balance on the site. You can view them by hovering over your balance on the upper right part of your Dashboard and selecting Transaction History.
How to Withdraw Payment
Once the funds are on your account, you can withdraw them to your preferred payment gateway by filing a withdrawal request. To do this, hover your mouse over your balance on top of your page and select Withdraw Money.
Make sure that you have sufficient funds on your account before withdrawing money. If you are accepting a new project, you should have enough funds to cover the fees for it. Otherwise, your filed withdrawal may be affected.
You can manage all your transactions from your Financial Dashboard page. You can view Milestones and Milestone Requests, manage Invoices, and access Transfer Funds and Withdrawals. This page also gives you quick stats on your finances and shows your overall balance on Freelancer.com along with other financial information.