FastFunds allow you to receive an expedited payment for invoiced assignments from select clients. WorkMarket will charge a small fee for the expedited FastFunds payment, and the funds will then be available to withdraw immediately.
By electing to receive an accelerated payment through the FastFunds service, you are selling and transferring to WorkMarket, all rights, titles and interest in and to any payment due. This service is only available until 12pm ET the day before the assignment’s payment date.
When you perform FastFunds, WorkMarket is paying out assignments rather than the client. When the client pays the assignment out at it's scheduled date, those funds will be shown in your ledger and then remitted back to WorkMarket immediately.
How do I opt in to FastFunds?
- Navigate to your Payment Center
- Click "Current Receivables"
- If an invoice is eligible for FastFunds, you will see a button that says “Get Paid Now"
- If selected, a popup will appear and present the breakdown of the assignment amount, fee that will be deducted, and the final price.
- By selecting Get Paid Now, you accept the transaction as shown on the previous pop and a window will appear confirming that the transaction is complete with the details shown.
Frequently Asked Questions
- Which of my assignments can I use the FastFunds service for?
- When can FastFunds be applied to an assignment?
- How quickly are my funds available after using FastFunds?
- How do I know if FastFunds has been applied to an assignment?
- I do not see the payment for an assignment I used FastFunds on in my financial account, where are my funds?
- Does FastFunds make the withdrawal process faster?
- I used FastFunds on an assignment, but the client re-invoiced it for a higher price. What do I do?
Which of my assignments can I use the FastFunds service for?
FastFunds assignments are available for any assignment of a specific company with this feature enabled. If you don’t see the ‘Get Paid Now’ button, it is because that client is not enrolled.
When can FastFunds be applied to an assignment?
You can use FastFunds on any assignment for a specific company from the minute the company approves the assignment, until 12pm ET the day prior to assignment’s payment date.
How quickly are my funds available after using FastFunds?
Your funds will immediately be available for withdrawal.
How do I know if FastFunds has been applied to an assignment?
From your "Receivable Invoices", you will see a tag that reads “Paid Via FastFunds".
I do not see the payment for an assignment I used FastFunds on in my financial account, where are my funds?
I used FastFunds on an assignment, but the client re-invoiced it for a higher price. What do I do?
If a client increases your payment on an assignment after you received your FastFunds, please contact our support team for assistance. Our finance department will credit you the difference in price once your assignment has been paid in full by the client.
For more information on FastFunds, please refer to our Terms of Service