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Escrow Payment

After selecting a Service Provider, the Buyer is required to make an escrow payment for the project. This protects both the buyer and the provider. Funds are held in a secure escrow account till the services are provided satisfactorily. The provider gets an assurance that the buyer has already provided project funding into the escrow account.

Automated Payment Verification Service (At the time of escrow payment)

For security reasons, you are required to enter your valid phone number at the time of making an escrow payment. A phone number is valid if it is either a Fixed Line number or a Mobile phone number. Please note that toll-free/VoIP numbers are not accepted.

You might receive a phone call within 2-5 minutes, providing you with a verification code. Please be available on the phone and note down the code carefully. Confirm the code and continue making payment.

We do not share your phone number with anyone. Please refer to our Privacy Policy for details. We hope all Buyers would appreciate our concerns and help us maintain high security standards on LimeExchange.

How it works:

  • Buyer Posts a project
  • Service provider bids on the project
  • Buyer selects a bid and makes escrow payment for the first project milestone or the entire project, if there is only one milestone for the project. 
  • Provider gets 48 hours to confirm availability for the Buyer's project
  • If provider confirms availability to work on the buyer's project within 48 hours, the project is awarded to the provider who starts working on it. If provider declines availability to work on the buyer's project or does not respond within 48 hours, buyer gets another opportunity to select any other bid or buyer can also call for refund of the project amount 
  • Provider submits the project deliverables
  • Buyer reviews the deliverables and accepts the submission
  • When milestones and final deliverables are accepted by the Buyer, the project amount is released to the Service Provider's "Wallet", after deduction of the LimeExchange Project Fee
  • LimeExchange deducts a variable Project Fee depending upon your membership status as shown below:

    Membership Plan
    		 Basic     
         		Individual   
         		Pro         
         		Vantage
    Payment Processing Fee *
    		 2.75% or 4 USD whichever is higher 2.75% or 4 USD whichever is higher 2.75% or 4 USD whichever is higher
    		 2.75% or 4 USD whichever is higher
    Transaction Fee
    		 5.25% 4.25%
    		 3.25%
    		 2.25%

    * Payment Processing Fee for Pay Per Task and Hourly projects attract a flat rate of 2.75%

Payment Methods

LimeExchange supports the following modes of payment for project escrow:

  • Credit Card (Verified by LimeExchange, for details click here)
  • PayPal (Verified by LimeExchange, for details click here)
  • Bank or Wire Transfer

You can also make payments on LimeExchange using the balance available in your wallet. Any difference can be paid through your verified credit card or PayPal account.

Bank or Wire Transfer

You can transfer the funds lying in your bank account to your LimeExchange wallet. Usually, it takes 3-5 days for funds to reach us via Bank or Wire Transfer. However, we suggest that you contact your bank for exact information and plan accordingly.

Your bank will need some information to transfer the funds. Click here to find the information and provide it to your bank.

Wallet

You may transfer funds to your wallet in advance and use it at your convenience to make any payment on LimeExchange. All payments made through your wallet take effect immediately.

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