Why are payments taking 7 days? Is Peerspace open to a quicker payment system?

Pricing / Payments
1

I hosted an event 7 days ago. With today’s technology and payment systems, why is it taking 7 days or more for payments to be received by hosts?

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2

I agree 100% nothing else takes that long and they get our money right away :frowning:

1 Like
3

Hi all - Thank you for your posts! While the processing timeline can differ based on your specific bank and may take up to 7 days, payouts typically make it out faster - within 3-5 days after the conclusion of the event. Nonetheless, we appreciate you providing us of this feedback and I will be happy to submit this to the appropriate teams for further evaluation.

@Jacquelyn_B - Our Support Team has reached out to you via email with an update on this payout in particular. If you have any additional questions please feel free to respond to the email and we will be happy to assist further!

4

Thank you for the generic/scripted response, but it does not answer the question as to why the payments should ever take 7 days at all. Once the event is completed, then payment should be within 24 to 48 hours.

It has been 9 days since I hosted an event. I received an email stating that there was a delay, but no reason was given for the delay. As well, I was told that the payment was reprocessed and could still take up to another 48 to 72 hours. When payments are late to hosts, there should be a late fee assessed and charged to Peerspace and paid to the host.

2 Likes
5

Theres a 3 day delay for any disputes to be submitted then pymt processed. Payments are definitely taking longer than normal currently though. We have payouts from over a week ago that still havent been processed.

6

There were no disputes in this case. As previously stated, there was no reason given for the delay. Nine days is too long with today’s electronic payment systems in place.

Thank you,
Jackie Ball
REALTOR
Realty Mark Associates - Center City
1500 JFK Boulevard, Ste 1510
Philadelphia, PA 19102
Office: 215-376-4444
Mobile: 267-322-1298
“Adding Real Estate to your legacy.” - JBall

Mortgage Loan Originator
NMLS #2067051
for Orca Home Loans
100 S. Juniper St 3rd Fl
Philadelphia, PA 19107
Mobile: 267-322-1298

Owner/Project Manager of:
L&L Legacy Management Group LLC
Cell: 267-322-1298 or 445-265-4547
“Time is given to fulfill purpose”

1 Like
7

That 3 day delay is always going to happen. They dont start processing anything until after that time period.

8

Maybe to make it fair they don’t take our payment until they pay us. It seems like they take our payment right away. And then we wait seven and 10 and 12 days to get paid on the money that’s already been in there which they’ve already collected their money, so maybe this should change or somebody starts a different Peerspace concept.

9

I agree. Or they pay us a 20% late fee when our payments are not processed from them within that 7 day window

Thank you,
Jackie Ball
REALTOR
Realty Mark Associates - Center City
1500 JFK Boulevard, Ste 1510
Philadelphia, PA 19102
Office: 215-376-4444
Mobile: 267-322-1298
“Adding Real Estate to your legacy.” - JBall

Mortgage Loan Originator
NMLS #2067051
for Orca Home Loans
100 S. Juniper St 3rd Fl
Philadelphia, PA 19107
Mobile: 267-322-1298

Owner/Project Manager of:
L&L Legacy Management Group LLC
Cell: 267-322-1298 or 445-265-4547
“Time is given to fulfill purpose”

1 Like