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Can someone explain advance pay to me?


srarifuzzaman

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I just used the cash advance and would love to share the results.

  1. To use the cash advance you must go to the Earnings menu and locate a new button on the right side. Keep in mind that this feature may not be available to all users (yet).

  2. I suspect that this feature depends a lot on how much you are billing in Fiverr, and that this will also affect the maximum amount you can ask for.

  3. As many have already mentioned, Fiverr is charging a (total) interest of 13.6%. It is not correct to think of this with a monthly or annual interest, it is the total amount that Fiverr is earning.

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Screen Shot 2021-02-21 at 8.10.56 AM1878×1244 188 KB
  1. The terms of the transaction are visible only after selecting the advance amount. They basically explain how this money advance is going to be collected

  2. Once you accept the terms, the amount is automatically credited to your balance. In this case, it was $500, that is, there is no fee to worry about, you will receive the exact amount you asked for.

  3. Now, how is this money advance collected? I casually did the operation before a payment. This payment was for a Gig of $50. Under normal conditions, I would have received $40 for this order ($50 - 20%) but instead I received only $24.

In other words, the order was for $50, from which the usual 20% of Fiverr was deducted and then another additional 40% was taken to pay the cash advance.

I hope this is useful for those who are interested in this feature.

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On 2/21/2021 at 7:48 PM, narsildev said:

I just used the cash advance and would love to share the results.

  1. To use the cash advance you must go to the Earnings menu and locate a new button on the right side. Keep in mind that this feature may not be available to all users (yet).

  2. I suspect that this feature depends a lot on how much you are billing in Fiverr, and that this will also affect the maximum amount you can ask for.

  3. As many have already mentioned, Fiverr is charging a (total) interest of 13.6%. It is not correct to think of this with a monthly or annual interest, it is the total amount that Fiverr is earning.

  4. The terms of the transaction are visible only after selecting the advance amount. They basically explain how this money advance is going to be collected

  5. Once you accept the terms, the amount is automatically credited to your balance. In this case, it was $500, that is, there is no fee to worry about, you will receive the exact amount you asked for.

  6. Now, how is this money advance collected? I casually did the operation before a payment. This payment was for a Gig of $50. Under normal conditions, I would have received $40 for this order ($50 - 20%) but instead I received only $24.

In other words, the order was for $50, from which the usual 20% of Fiverr was deducted and then another additional 40% was taken to pay the cash advance.

I hope this is useful for those who are interested in this feature.

Can you withdraw the cash advance? Is there any limitation for it?

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This is extremely similar to the PayPal Working Capital program that is offered to certain PayPal clients only (suspect Fiverr will operate similarly to minimise risk for Fiverr) and the benefits are super-fast access to capital for business purposes, and no impact on credit scoring.

I used the PayPal Working Capital system twice and found it excellent. As this advance is likely only made available to those with good cash flow on Fiverr, it isn’t likely to lead people into problems but could be a useful stopgap in cash flow for a specific business venture, making the interest worthwhile.

That was what I found, anyway, with the PayPal system. I couldn’t fault PayPal’s version and have enjoyed having access to it. Given that an individual is not assessed in the same way as for a loan, this should be seen as a working capital advance and the higher interest is due to no credit scoring assessment or impact. Some banks would take a week to assess me for £5k, and would want signed paperwork; the comparative ease of these schemes appeals to entrepreneurs with a need for fast funds.

Repayments were swift and easy, and the faster you pay back (with the PayPal system) the more you’re offered next time. I think if Fiverr are careful in terms of making this available, it will be useful for many.

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I just used the cash advance and would love to share the results.

  1. To use the cash advance you must go to the Earnings menu and locate a new button on the right side. Keep in mind that this feature may not be available to all users (yet).

  2. I suspect that this feature depends a lot on how much you are billing in Fiverr, and that this will also affect the maximum amount you can ask for.

  3. As many have already mentioned, Fiverr is charging a (total) interest of 13.6%. It is not correct to think of this with a monthly or annual interest, it is the total amount that Fiverr is earning.

  1. The terms of the transaction are visible only after selecting the advance amount. They basically explain how this money advance is going to be collected

  2. Once you accept the terms, the amount is automatically credited to your balance. In this case, it was $500, that is, there is no fee to worry about, you will receive the exact amount you asked for.

  3. Now, how is this money advance collected? I casually did the operation before a payment. This payment was for a Gig of $50. Under normal conditions, I would have received $40 for this order ($50 - 20%) but instead I received only $24.

In other words, the order was for $50, from which the usual 20% of Fiverr was deducted and then another additional 40% was taken to pay the cash advance.

I hope this is useful for those who are interested in this feature.

thanks a lot, Understand.

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I just used the cash advance and would love to share the results.

  1. To use the cash advance you must go to the Earnings menu and locate a new button on the right side. Keep in mind that this feature may not be available to all users (yet).

  2. I suspect that this feature depends a lot on how much you are billing in Fiverr, and that this will also affect the maximum amount you can ask for.

  3. As many have already mentioned, Fiverr is charging a (total) interest of 13.6%. It is not correct to think of this with a monthly or annual interest, it is the total amount that Fiverr is earning.

  1. The terms of the transaction are visible only after selecting the advance amount. They basically explain how this money advance is going to be collected

  2. Once you accept the terms, the amount is automatically credited to your balance. In this case, it was $500, that is, there is no fee to worry about, you will receive the exact amount you asked for.

  3. Now, how is this money advance collected? I casually did the operation before a payment. This payment was for a Gig of $50. Under normal conditions, I would have received $40 for this order ($50 - 20%) but instead I received only $24.

In other words, the order was for $50, from which the usual 20% of Fiverr was deducted and then another additional 40% was taken to pay the cash advance.

I hope this is useful for those who are interested in this feature.

can it be withdrawn?

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I am curious to know the requirements for cash advance option. Is there a minimum amount you need to earn to be eligible for that option? Like over $10k, $20k, $30k… ?

Is there anyone who has earned less than $20k eligible for this option ?

@alexia I make about 1500-2000 a month and I got the feature

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OP showed “Fiverr Cash Advance Program” in the quoted section.

And I’m not finding anything in the ToS or Payment page.

Fiverr Cash Advance Program

is someone tried here, that able to withdraw the ''Fiverr Cash Advance Program" money going to their paypal or payoneer?

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  • 2 weeks later...

Fiverr Cash Advance Program

is someone tried here, that able to withdraw the ''Fiverr Cash Advance Program" money going to their paypal or payoneer?

Yes, it instantly goes into your balance and you can withdraw it in full.

I think this is an excellent idea from Fiverr - slightly higher rate than normal lines of credit, but excellent for sellers who have built up good history. Fiverr obviously has their own ‘credit score’ type of algorithm.

As with any type of debt, if you treat it with respect you can make substantially more than the 13.6% fee. eg, drive traffic and make more sales = pay off quicker = make more = get another cash advance and the cycle continues.

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Yeah, this is simple enough for the explanation.

Interest is 13.6% that I am able to calculate. And from each order 40% will be deducted - 20% is their usual fees and 20% is used to repay the loan.

I got the answer, cause fiverr already charged me.

thats 60% of your order amount.

for example

Order amount = 100$

Fiverr default = 20% of 100$ = 20$

Your Amount = 80$

Loan Percantage = 40% of 80$ = 32$

Your available balance = 80$ - 32$ = 42$

Thats the exact process

Thank you

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What is this? I don’t have that option. Anybody that does knows what the max amount is? I don’t think it’s interesting to get 500 bucks, but if you can get enough to buy a house, then count me in lol

This is supposed to be “credit to grow your business”, right? 500 bucks is a joke to grow a business. We better be talking upper limits in the 5 figures at least, anything else would be pointless.

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What is this? I don’t have that option. Anybody that does knows what the max amount is? I don’t think it’s interesting to get 500 bucks, but if you can get enough to buy a house, then count me in lol

This is supposed to be “credit to grow your business”, right? 500 bucks is a joke to grow a business. We better be talking upper limits in the 5 figures at least, anything else would be pointless.

you don’t have that option because you are not the one who is selected by Fiverr. This option is not available for everyone.

Max amout is 5k$. In fact , i saw that Fiverr give each seller a different amout, based on average income they earned on Fiverr monthly, usually double your income. For exp. if your average income monthly is 1k$, then max amount Fiverr lend you will be 2k$. Interest = 13,6%.

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you don’t have that option because you are not the one who is selected by Fiverr. This option is not available for everyone.

Max amout is 5k$. In fact , i saw that Fiverr give each seller a different amout, based on average income they earned on Fiverr monthly, usually double your income. For exp. if your average income monthly is 1k$, then max amount Fiverr lend you will be 2k$. Interest = 13,6%.

Well, what is it then? Is it a cap at 5k or based on earnings? Because if it’s based on earnings it doesn’t make sense to cap it at 5k if you make, say 10k a month.

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