The Expert Guarantee Processing Fee
When the coder is awarded the project from the buyer, they deposit the Expert Guarantee.
When they do this, Rent A Coder incurs expenses in processing it. To cover those expenses, the coder is charged a non-refundable processing fee. This fee can be reduced or eliminated by the
coder, if they choose a less expensive method of payment.
| Deposit Type |
Fee |
| No deposit - transfer of existing funds already in coder account |
0% |
| Snail mail check |
0% |
| Bank to bank wire Transfer |
0%*
|
| Pay Pal |
3.5% |
| Credit Card |
| $ amount |
Fee |
| Less than $100.00 |
3% + $.50 |
| $100.00 or more |
3.5% |
|
As an option, the coder can also ask the buyer to cover the cost of this fee for them. They can do this in a number of ways such as: increasing the price of the bid, asking the buyer to post a 2nd bid request to cover it (contingent on completion of the project), or by getting the buyer to promise to pay the fee to them as a bonus (upon completion of the project). Note to coders: If you choose the bonus route, just remember that due to credit card/PayPal rules, Rent A Coder CANNOT force a buyer to pay a bonus involuntarily...even when promised on-site. So don't choose this option, unless you trust the buyer, or are willing to take a small risk.
Notes:
- If you use multiple methods to pay for a single deposit (for example: transfer some from your coder account and deposit the rest from a credit card), then the fee is computed by combining the different fees for each portion.
- * On bank to bank wires, a wire transfer fee is charged: the same amount as charged to buyers on their bank to bank wires.
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