Early Pay introduces an innovative early payout feature, specifically crafted for freelancers and independent contractors. It integrates seamlessly with our invoicing and payment collection system.
The primary goal of Early Pay is to mitigate cash flow bottlenecks, allowing freelancers to access their earnings immediately after a client approves an invoice, thus bypassing conventional payment cycle delays.
Invoicing & Getting Paid With Early Pay
While drafting an invoice in a compatible currency, Early Pay becomes available, provided you, your client, and the invoice satisfy certain criteria.
Activating the Early Pay option empowers you to set a payment term for your client.
Choosing a term incorporates an Early Pay fee into the invoice, depending on the selected payment term. To see the exact cost, please review the pricing breakdown when you create an invoice.
Early Pay fees are covered by freelancers, regardless of who is responsible for the service fee.
Upon sharing the invoice, your client receives an explanatory email, prompting them to approve the invoice. They can also find this information within their Ruul Dashboard, under the 'Invoice Details' section.
Following the client's invoice approval, you'll be notified and Ruul will initiate transferring your EarlyPay payment into your preferred account in 1 business day.
Supported Countries
Currently, EarlyPay caters to freelancers based in the US, Canada, EU, UK, and Turkey. Expansion plans to include more regions are underway.
Supported Currencies
At present, the endorsed invoice currencies comprise EUR, GBP, and USD.
Limitations
The client's company should be situated in the EU or UK.
Client verification is mandatory.
A successful transaction record might be a prerequisite, based on your geographical location.