Protecting Yourself and Your Work through Escrow using vWorker

As I’ve told you before, usual escrow accounts have many downsides. Among these downsides is the reliability of escrow companies. Although they should protect you, the service provider, from scams and frauds, sometimes these companies are the ones that commit frauds by not sending you the funds your client escrowed and released. In this case, you’re defenseless. But there is another way. I’ve talked about vWorker in my previous e-mails, but I feel the need to talk about it again because it has a great escrow feature.

vWorker offers a great escrow feature. Basically the whole site is based on it and it became one of the most popular freelance sites especially because of its terrific security. The website requires all employers to escrow funds before a project can start. This way, you’re sure to receive your funds as soon as you complete the project rightfully.

• Escrowing Funds

For starters, employers who work through vWorker don’t risk anything when escrowing funds for a project. They need to do that as soon as they select a worker, a service provider, and the work can only start once the funds are escrowed. This makes vWorker the most secure website as far as payments are concerned. Moreover, the employer doesn’t have to pay anything for the transfer of funds and if the project fails or ends up being canceled, they can reuse the funds for other projects or they can withdraw them back to their credit card, PayPal account, etc.

• Costs of Escrow for Freelancers

vWorker doesn’t clearly state what the fee for escrow is, but the overall amount you’ll be charged for every project represents 15% of the project. For project enhancements and for projects under $20, this percentage is lower, 12% and $3 minimum respectively. It’s true that this fee is more than consistent and way higher than that of escrow companies, but keep in mind that you will be completely certain that the project will be paid for once it’s completed up to the client’s requirements.......To read full article, Sign-up for this email training