Once a milestone is submitted, the employer can review the deliverable then click on the “Release Payment” button when they're satisfied with their deliverable.
Once this payment is released, the amount reflects immediately in the freelancer's "Current Balance". Current balance reflects the total amount of money you have in your wallet at any given point in time.
Amounts in "Current Balance" usually take up to 3 calendar days in order to move to freelancer's "Available Balance". Available balance reflects the amount you can actually withdraw. Please note that you can only get paid from Ureed.com if you exceed the minimum withdrawable balance (check the table below).
After meeting the minimum withdrawable amount, only then does the "Get Paid" button appears. Once the payment is requested, it gets logged on the system automatically and the status on your dashboard reflects that your "payment is under processing".
Ureed.com's team processes payments differently depending on your payment method (check the table below). Once the payment has been processed, the status then changes to "payment processed".
Take a look below at a summary of the payment cycle:
|Wire transfer/Bank transfer
Minimum withdrawable balance
Withdrawal process time by Ureed's team
|Twice a month: on the 1st and 3rd weeks of each month
|If the processing date comes on a weekend or on a
public holiday, payment will be postponed until
the first working day
For PayPal only: Ureed.com deducts 5.5% as processing fees for PayPal payments if selected as the primary payment method, and this deduction is separate from any other charges applied from PayPal directly when receiving your funds.
Depending on the preferred method of payment set on your profile, the timeline is as follows for you to receive the amount:
- Paypal/Payoneer payments get reflected in most cases immediately or can take up to 48 hours.
- Direct bank transfers can take up to 3-7 working days, depending on the freelancer's bank and country of residence.
Please note the following:
- For Wire Transfer; Ureed.com always transfers the amounts in full and as per your available balance. Any deductions occurring due to exchange rate, bank transfer processing fees or corresponding bank charges are borne by the receiver.
- Paypal/Payoneer also follow the same rule, where payments are done in full and any charges reflected are borne by the receiver. Except for PayPal; Ureed.com deducts 5.5% as processing fees for PayPal payments if selected as the primary payment method, and this deduction is separate from any other charges applied from PayPal directly when receiving your funds.