When does Fiverr balance go into Balance account

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With more than three million services offered in a variety of categories, such as graphic design, writing, programming, digital marketing, and more, Fiverr is a top choice for those looking for creative and professional talent.

For freelancers, understanding the payment system is the key to effectively managing earnings. Knowledge of the funds withdrawal process, associated fees, and the time it takes to receive payments is essential for financial planning. In addition, understanding how Fiverr protects their payments also provides a sense of security and confidence in using this platform.

For those of you who are beginners on Fiverr, of course this will be a question: Why has the balance from the sales or my order not entered the personal balance menu? If you look at the application or its menu, it will be seen that the balance is still $0. Before we get into that, let's take a look at what Fiverr is.

What is Fiverr?

Fiverr is an online platform that facilitates transactions between individuals or companies seeking and offering digital services. Established in 2010. The platform has evolved and allows sellers to offer services at varying prices based on the complexity and level of expertise offered.

Fiverr uses a payment system designed to ensure safety and convenience for both parties, both buyers and sellers (freelancers). Here is the payment process in detail:

Service Purchase Process

Buyers can make payments using a variety of methods available on Fiverr. Accepted payment methods include credit/debit cards, PayPal, and certain local payment methods that may be available in certain countries. It is highly recommended for you to use PayPal only; besides being safe to use PayPal, the withdrawal process is also very fast.

After the buyer makes a payment, the funds are not immediately passed on to the seller. Instead, funds are held in Fiverr's escrow system until the work is completed and approved by the buyer. Then your funds will be held for a predetermined day before entering your balance account.

This escrow system aims to provide assurance for buyers that they will receive the service as promised, as well as provide a sense of security for sellers that they will be paid upon completion of the work. It's a deal between the seller and the buyer, and there's no problem. Then the balance that is temporarily held automatically goes into your balance.

Commission from the seller (Freelancer)

A. Commission Percentage

Fiverr takes a commission of 20% of each payment received by freelancers. This commission is a flat rate that applies to all services sold on the platform.

For example, if a freelancer sells a service for $100, they will receive $80 after Fiverr takes a commission of $20. This commission means that freelancers have to take this deduction into account when pricing their services. It is important for freelancers to determine a price that reflects the value of their work while also considering the commission that Fiverr will take.

Cost of services for the buyerA. Service Fee StructureFiverr charges buyers an additional service fee for each transaction made. This service fee aims to support various operational aspects of the platform, including technology development, security, and customer support.

B. Example Of Calculating 

The Cost Of ServicesFor example: "You sell a service for $20 >> at 20% off Fiverr, then the result received = $16." ($20 X 20% = $16).

Likewise, how much payment you make after the work is completed, it will be charged 20%. You can calculate it using a calculator.

C. Additional costs and use

• Withdrawal fees: Freelancers who withdraw funds through certain methods, such as PayPal or bank transfer, may be subject to additional fees by those payment service providers.
• Currency conversion fees: If a payment or withdrawal is made in a different currency, currency conversion fees may apply.
• Fiverr also offers various packages and service extras (gigs extras) that allow sellers to offer additional or premium services for an additional fee.
• Buyers can choose to add this service to their order, which will increase the total cost of the transaction.

When does Fiverr balance go into balance?

Fiverr has a specific policy regarding the time when the balance from sales of services (gigs) will be available in the balance (balance) of the seller's account (freelancer). This process is designed to ensure the security and validity of the transaction, give time to resolve disputes if any, and protect both parties from potential fraud. Here are more details about the timing of balance entry into the Fiverr account balance:

Balance settlement process and time

After the freelancer completes and submits the ordered service, the buyer will receive a notification to review the results of the work. The buyer has time to review the results and give approval or request revisions if necessary.

1. Release of funds by the buyer

If the buyer is satisfied with the result of the work you did and gives consent, the funds previously held in the Fiverr system will begin to be processed to be added to the seller's account balance.

However, if the buyer does not take any action (does not approve or request revisions) within a certain period of time or after 3 days after the submission of the work, the Fiverr system will automatically approve the work and will release the funds to you. but these funds will be temporarily held on the clearing balance.

2. Clearing Period

And you don't need to worry about the funds you receive from the seller, whether you can enter or not. because it is only temporary. Once the funds are approved, the balance is not immediately available for withdrawal by the seller. Fiverr sets a clearing period that lasts as follows:

For novice Fiverr users, they will log in within 14 days (2 weeks).For Top Rated Seller users, they will enter after 7 days (1 week).

This clearing period is the time during which funds remain held by Fiverr to ensure no issues or disputes arise after buyer approval. However, the holding period can be long if the buyer asks for a major revision and you experience problems such as buyers asking for a refund. and make sure you provide the best and most professional service.

Available balance in Balance

After the 14-day clearing period ends, the balance will automatically enter the seller's account balance and be ready to be withdrawn. Sellers can view their available balance on their Fiverr account dashboard, including details on when funds will be available after the clearing period.

Examples of Balance Settlement Process

• Day 1: The freelancer completes and delivers the service to the buyer.
• Day 2-3: The buyer reviews the work and gives approval.
• Days 4-17: The 14-day clearing period begins after the buyer's approval.
• Day 18: The balance goes into the seller's account balance and is ready to be withdrawn.

Factors affecting the clearing period

1. Account Types

For new freelancers, the standard clearing period is 14 days. However, for top-rated sellers (Top Rated Sellers) and high-level sellers (Level Two Sellers), the clearing period can be shorter, which is 7 days.

2. Disputes or payment issues

In the event of a dispute or payment issue between buyer and seller, the process of releasing funds and the clearing period may be delayed until the issue is resolved. Try to provide the highest quality service possible and work with professionals.

3. Withdrawal Methods

Once the balance is available in the seller's account balance, they can withdraw funds through several methods provided by Fiverr:

• PayPal: a fast and commonly used method for withdrawing funds.
• Payoneer: prepaid card or bank transfer via Payoneer account.
• Local bank transfer: withdraw funds directly to the seller's local bank account