This article explains the difference between Deel Advance and the Early Withdrawal feature.
These features are only available to Independent Contractors.
While both features allow you to access funds before your payment due date, there are key differences to consider.
The Early Withdrawal option is only available up to 5 days before your scheduled payment date, and only once your client has initiated a transfer towards your Deel balance.
You can not use the Early Withdrawal feature if you have any outstanding Deel Advance repayments.
You will pay a 1% fee of the total payment amount to use this feature up to a maximum of $15 USD.
Approved Early Withdrawal requests are available immediately, giving you access to an updated Deel Balance instantly even on weekends and holidays.
If you need your funds even earlier, a Deel Advance can allow you to get paid up to one whole payment cycle in advance.
Deel Advance is free for up to $50 USD, and over that the fee is 3% of the Advance amount.
Deel Advance requests are available instantly if approved.
The one-time fixed fee for the Advance will collected automatically from your scheduled payments.
Can I use Deel Advance and Early Withdrawal at the same time?
You can not use Early Withdrawal if you have used Deel Advance and still have outstanding repayments.