How Payments Work For Single Milestones

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Here’s how payments work for Sellers completing a job

1. When you apply for a job, you will add a ‘Milestone’. This is a description of the work you will get paid for. Here are some examples of possible Milestones:

  • A Task: “Design and develop a new website: £500”
  • Contract Hours: “One week full time work, 11th – 15th March 2010: £4,000”
  • Events: “Meet for coffee to discuss the project: £100”
  • Expenses: “Expense claim for travel due to work: £200”

2. The Buyer will then accept your Proposal, start a Contract and pay for your Milestone(s).

3. When you have completed the work and the Buyer is happy with it, they will Approve the Milestone. This will release the funds from the Buyer’s Escrow account into your Escrow account, minus the commission fee set by the marketplace. Your funds will appear on your Settings page:

4. You can withdraw your funds any time into you actual bank account. To do this, add your bank account information, save your profile, and request how much money you wish to withdraw. The funds will appear in your bank account within 2 days. The minimum you can withdraw is £10 and a £0.45 fee is charged on every withdrawal.

5. Once you withdraw more than £100, you will need to provide some details required as part of European online money regulations. Here are the details you’ll need to submit:

  • If you’re an individual:
    • Your address, birthday and some other info
    • A photo of your passport, or personal ID
  • If you’re a registered sole-trader/freelancer:
    • All the above, plus
    • Proof of your registration
  • If you’re a registered organisation:
    • All the above, plus
    • A copy of your Articles of Association
  • If you’re a registered business:
    • All the above, plus
    • Details of any shareholders who own at least 25%

How payments work for Buyers hiring a Seller

1. When you are ready to accept a Proposal, this will create a Contract:

If this is your first contract, you’ll also need to add your bank card information, which will be used for all of your future payments.

2. Then you can view the Milestones that your Seller has submitted:

3. The next step is to click ‘Pay’ for one or more of the Milestones. These funds will be added to your Escrow account, held by MangoPay in your name. You’ll need to confirm it, then the payment will be taken from the card you’ve already added:

4. When your Seller has complete their work to your satisfaction, you can click the button ‘Approve’. This will officially complete the transaction, and send the relevant funds from your account to the Seller’s account. No refunds are possible after this stage.

5. You can view all your invoices in the Invoices page:

For any questions, please contact us.

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