What is a Payment Cycle on Tutor DB?

What is a Payment Cycle on Tutor DB?

As a tutor or freelancer on Tutor DB, it's important to understand how payments are processed and when you can expect to receive your earnings. One key concept to understand is the payment cycle. In this article, we'll explain what a payment cycle is and how it works on Tutor DB.

What is a Payment Cycle?

A payment cycle is a period of time during which all confirmed transactions are processed for payment. On Tutor DB, a payment cycle runs from Monday to Sunday of the week. Please note that each payment cycle will only include confirmed transactions (see bellow).

Why is there a 3-day Grace Period?

For any completed session (defined shortly,) a 3-day grace period is in place to ensure that there was no abuse involved in the transaction. For tutoring sessions, the 3-day grace period starts immediately upon termination of the session. For freelancing jobs, the grace period starts when the client approves the deliverables. During the grace period, Tutor DB reviews the transaction to ensure that everything was conducted in accordance with our policies. Once the grace period has ended, the transaction is considered confirmed and is included in the next payment cycle.

When Will I Receive My Payment?

Payments are typically processed within 2-3 business days following the end of the payment cycle. For example, if the payment cycle runs from Monday, January 1st to Sunday, January 7th, payment will be processed by Wednesday, January 10th. Please note that it may take a few additional days for the funds to appear in your account, depending on your chosen payment method.

Conclusion

Understanding the payment cycle is an important part of working as a tutor or freelancer on Tutor DB. By knowing when payments are processed and what constitutes a confirmed transaction, you can better manage your finances and plan for future earnings. If you have any additional questions about payments or the payment cycle, please don't hesitate to contact our support team.