Deel Advance allows eligible independent contractors to get short-term cash advances.
Deel Advance is not a loan - there is no interest rate and we do not run any credit checks. The advance is an agreement where Deel gives you funds now, in exchange for an agreed amount of your future earnings, which is collected automatically from your scheduled client payments.
Deel reserves the right to make changes to any Advance limits for any user at any given time to align with our company risk policies and market conditions. You may notice fluctuations to your allowable advance limit periodically as a result.
In This Article:
Deel Advance Fees
How much does it cost?
Deel Advance is not a loan, and there are no interest rates - only a one-time fixed fee.
Deel Advance is free for up to $50 USD, and over amount the fee is 3% of the Advance amount, with the minimum fee being $10 USD.
You will be able to see the total fee before you submit your request.
What currencies are available?
Deel Advances are always in US dollars. If you choose to withdraw or repay your advance in another currency, standard exchange rates will apply.
What are the limits for a Deel Advance?
Deel's internal algorithm will determine your maximum advance amount.
You must be receiving regular payments on your contract in recent months for us to calculate your limit.
The maximum advance amount is $10,000 USD.
Your personal limit will be visible on the Deel Advance request screen.
Why is my Deel Advance Limit shown as $0
You must be receiving regular payments for us to calculate your Deel Advance limit.
If you have not been receiving regular payments your limit will appear as $0. You will not be able to use Deel Advance until you start receiving regular payments from your clients.
Will my client know I am requesting an advance?
No, clients are never informed about contractor Deel Advance requests.
A Deel Advance is a contract between you and Deel. Your client will not be contacted on any matters related to your Deel Advance.
Deel Advance Eligibility
Am I eligible for a Deel Advance?
Deel Advance eligibility varies from person to person, but there are some basic requirements:
- You have an active Fixed or time-based Pay As You Go contract
- You are verified on Deel
- Your pay cycle must be less than or equal to one month
- You do not have any existing overdue Advance repayments
- You have received continuous payments from the same client for at least two months as measured by your earliest work cycle and not your contract creation date.
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Your contract must not have a termination pending.
- For Fixed contractors: contract termination date should be at least one cycle away.
- For Pay As You Go contractors: contract termination date should be at least 3 months away.
Deel may also consider other factors on a case-by-case basis when reviewing Advance requests.
Contracts with certain clients might be not be eligible for Deel Advance.
Deel Advance requests are granted immediately and your funds will be instantly available in your Deel balance.
Only regular billed "work" will be considered for Deel Advance eligibility.
We will take into consideration the calculated rate when reviewing your Advance eligibility.
If your hours have been reported as "Task", "Other", "Bonus", "Commission" on your invoices, these will not count towards Deel Advance eligibility. The same criteria applies to off-cycle invoices or a one-off payment: eligibility is determined only by regular billed work.
How long does it take to be approved?
Deel Advance requests are granted immediately and your funds will be instantly available in your Deel balance.
Am I already eligible for Deel Advance?
If you are eligible to use Deel Advance you will see a Deel Advance tab in the side-bar navigation menu. If you do not see this tab, you are not eligible at this time.
The request screen will include the following information:
- the amount you want to request
- the Advance limit amount for your request **
- fees - Deel Advance is free for up to $50 USD
You must be receiving regular payments for us to calculate your limit. Users who have not been receiving regular payments in recent months may see an advance limit of zero.
Deel Advance Repayment
How do I repay a Deel Advance?
You can repay your Deel Advance in two ways: receiving a payment from the client to your Deel balance, or making a payment via Stripe.
Only when a contractor has settled any outstanding Advance fees can they request a new Advance.
Your fixed fee will be paid automatically whenever you receive a payment from your client through the Deel platform.This includes both scheduled and off-cycle payments.
What if my Deel Advance isn't settled in full?
We do not accept any other repayment methods except for client payments through the Deel platform.
You will need to wait until you receive another payment in order to settle your outstanding Advance fee, and only then can you request a new Advance.
We always suggest taking an Advance less than your absolute limit in order to allow for fluctuations in payment amounts, early withdrawal fees, and exchange rate variations (if in a non-USD currency).
Can I request to change the repayment date of my Deel Advance?
No. Your Deel Advance repayment date is based on the invoice payment cycle due date, and we are unable to amend it.
The due date is when we expect you to receive payment from the client, which will then automatically go into repayment for your Advance.
Can I use Early Withdrawal with Deel Advance?
No. You cannot use Early Withdrawal feature if you have an outstanding Deel Advance.