Envato Studio - 7 Days to update Payment?!?

Envato Authors Author Hangout
1

Regardless of the fact that I have been providing services on Envato Studio for over a year now, there is one thing that has always bothered me.

After a job is completed, You have to wait 7 DAYS before payment is updated.

Honestly, I do not understand the reason behind this. Ive been working with the Wordpress Express Installation service for quite some time (started in dec 2014) and there is always a client who does not approve a job (clients tend to disappear after we complete their jobs). Envato’s rule for this is that if the client does not respond in 5 days, the job is automatically marked complete. I believe this 5 day rule to be great, the client can be busy at times. But after that we have to wait 7 days before our payments are updated. Why? I don’t know.

Due to this 7 day rules which makes no sense, I usually have to wait 12 days before most of my jobs are complete and payment updated. Doing this means that I miss out on large chunks of payments. (They are paid in the following month).

Can someone explain to me the purpose behind this 7 day rule? Why cant we just have a single day after a job is complete? 1 day would allow the buyer to contact us if he has some questions regarding the job. Or forget even a single day, The client marks a job complete when they know that everything is in order, further questions can be asked with an inquiry.

I currently have 6 jobs in queue, almost all of them waiting to be marked delivered because the clients disappeared after the job is completed (they usually ask a few questions and if they see everything is in order they disappear). Which is why, most of my jobs would be marked complete next month. meaning that I would not be paid for those jobs until November 7th.

I seriously believe that this 7 day rule should be removed!!!

2

You need to wait 7 days because user can revert back payment from bank (or payment can be reverted automatically because of fraud).

3

I am OK for 7 days waiting period as it exists on other freelance platforms and it is like a legal issue. But I would love to be able to get the payment anytime we want. Every 7th day of the month is a long time period to be paid.

4

Actually, I was thinking about what @dedalx said. there is a problem with fraud. But envato takes payment before the start of job, and I believe the average time it takes for a job to complete is 1-2 days. Why cant we start with the 87 day thing from the start of the job? Like there are some of my jobs that take longer than 4 days (due to client requests). Lets say I finish a job in 5 days, why does the 7 day verification start after the closing of the job? Why cant it start right after the payment is made? If a job took me 5 days to complete, money can then be added to my account in 2 days as that would complete the 7 day verification process.