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Your Account Balance

Your Account Balance

At the heart of the oDesk Billing & Payment system are two main components: "Balance" and "Pending Transactions"

Balance

Your account "Balance" describes how much money you have available on oDesk, or how much you owe oDesk.

  •  For providers, a positive balance represents money that can be withdrawn that day. For Buyers, a positive balance represents money you may have prefunded, earned from our referral program or received as a refund. Buyers may spend it on oDesk.
  •  If you have an amount due -- this mostly applies to Buyers -- the balance will be negative. A negative balance will usually show up for Buyers on the day we charge their credit cards.
Pending Transactions

"Pending Transactions" describe transactions which are not yet due.

 In the majority of cases, oDesk invoices providers on Monday at 12:00 GMT for hourly work. Buyers' transactions are due on Thursday, and oDesk charges Buyers' credit cards Thursday night.

Providers are paid (or their transaction is "due") the following Wednesday, when their funds move from "Pending Transactions" to "Balance" and become available for withdrawal.

Pending Transactions = 0
  • As a provider, "Pending Transactions = 0" means that no money is owed to you or that the funds are available in your account for withdrawal.
  • As a Buyer, if "Pending Transactions = 0," you will see the balance due that day reflected in your Balance. The number will be negative. If you owe nothing, the Balance will also be zero.

Pending Debit
  • This applies mainly to Buyers, and represents the amount you owe before your credit card is charged. We charge Buyers' credit cards for their amount due each evening, so if you have a Pending Debit, it means your card will be charged within 24 hours.
  • For providers, the most common reason to have Pending Debit is if you submit a refund to a Buyer that you do not have sufficient funds to cover.

Pending Credit
  • For Providers, Pending Credit represents hourly earnings that are guaranteed but still in the security period; bonuses or fixed-price payments that have been submitted but not yet paid by the Buyer 
  • For Buyers: refunds exceeding the provider's available balance. These refunds will become available to the Buyer as soon as the provider has the funds to cover the refund amount.

 

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