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Why does it take so long for funds to clear?

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It’s a tradition on freelancing sites that payments, though approved by Buyer/Client, is subject to “clearing period” which ranges from 7 days on some sites, to months on some others. It is a form of safeguard put in place for the interest of the Seller/Contractor and the Buyer/Client. On here, it takes 14 days for payments to clear except for TRS class of Sellers whose payments clear within 7 days.

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