When will I get paid?
The time of payment differs based on the type of contract that you are engaged in. However, it typically takes 10 business days from the end of a freelancer's pay period, until funds are deposited into their goWallet.
Timesheets for the week are submitted at midnight UCT on Sunday every week and have the following breakdown.
Review period
The first 5 days are a review period so that the employer can look at the work diary and confirm the hours worked. Some employers can shorten this period if they wish, by going to the contract's settings, and changing the "Settle Time".
Security period
Once the hours are approved by the employer, goLance charges their payment method. There is a 4-day waiting period after doing this, to make sure the payment will settle. Then goLance deposits the settled funds into the freelancer's goWallet.
The status of your payment during the security period will be displayed as "Pending". You can view the release date in your "Transaction Details" – just open your goWallet and click on the transaction ID.
Withdrawal
Once funds are in the goWallet, you can withdraw them. This typically takes 0-5 business days for the transfer to complete, depending on your chosen withdrawal method, and your country. The number of days can change from withdrawal to withdrawal because goLance prioritizes the best conversion rate, not the fastest transfer time. This way the freelancer gets the most money possible.
Unlike the hourly contract, there is no review period for fixed price contract or bonuses.
Bonuses and Milestones have a 5-day security period before they are paid to the freelancer.
Once the money is in a goWallet, a freelancer will need to withdraw it to a chosen payment method, this can take additional time based on the payment networds. For more information on the timing of withdraw money, please look at the following article:
Comparison of Withdrawal Methods.
If your payment is taking more time than described here, please contact our support and we will be happy to investigate.
We hope this article has been helpful. If you still have questions or feedback, please take a moment to rate this article and leave your comments below.
Hourly Contracts:
Timesheets for the week are submitted at midnight UCT on Sunday every week and have the following breakdown.
Review period
The first 5 days are a review period so that the employer can look at the work diary and confirm the hours worked. Some employers can shorten this period if they wish, by going to the contract's settings, and changing the "Settle Time".
Security period
Once the hours are approved by the employer, goLance charges their payment method. There is a 4-day waiting period after doing this, to make sure the payment will settle. Then goLance deposits the settled funds into the freelancer's goWallet.
The status of your payment during the security period will be displayed as "Pending". You can view the release date in your "Transaction Details" – just open your goWallet and click on the transaction ID.
Withdrawal
Once funds are in the goWallet, you can withdraw them. This typically takes 0-5 business days for the transfer to complete, depending on your chosen withdrawal method, and your country. The number of days can change from withdrawal to withdrawal because goLance prioritizes the best conversion rate, not the fastest transfer time. This way the freelancer gets the most money possible.
Fixed-Price Contracts:
Unlike the hourly contract, there is no review period for fixed price contract or bonuses.
Bonuses and Milestones have a 5-day security period before they are paid to the freelancer.
Once the money is in a goWallet, a freelancer will need to withdraw it to a chosen payment method, this can take additional time based on the payment networds. For more information on the timing of withdraw money, please look at the following article:
Comparison of Withdrawal Methods.
If your payment is taking more time than described here, please contact our support and we will be happy to investigate.
We hope this article has been helpful. If you still have questions or feedback, please take a moment to rate this article and leave your comments below.
Updated on: 28/03/2023
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