Managing Payments & Financial Transactions
Discover how to manage and withdraw your earnings seamlessly on Loxala. Explore withdrawal methods, minimum balance requirements, processing timelines, and security features to keep your funds accessible and secure.
Financial Dashboard Features
1. Financial Report
- Available Funds: Displays your current accessible funds after all deductions. Funds become available 8 days after client release for both fixed and hourly contracts.
- Total Earnings: Tracks cumulative income across a selected timeframe.
- Pending Payments: Shows client payments that have not yet been received.
- Comparison with Goals: Monitors your progress toward monthly or annual income targets. At 80% completion, you’ll receive a dashboard notification and email reminder to keep you on track.
- Example: If your monthly goal is $5,000 and you’ve earned $4,000 by the 20th, the dashboard will indicate 80% completion, encouraging you to push toward your target.
2. Withdrawal Management
Loxala offers flexible withdrawal settings that allow you to manage your funds securely and conveniently.
Setting a Withdrawal Schedule
- Minimum Balance: Withdrawals can be initiated once your available balance reaches $100.
- Frequency Options: Choose between weekly or monthly withdrawals for a consistent payout schedule.
Choosing Withdrawal Method
- Bank Account: Set up your preferred bank account for transfers. Your account will be displayed securely using only the last four digits.
Verification Requirements
- Google Authenticator Required:
For enhanced security, all withdrawals must be verified using Google Authenticator. SMS verification is not supported. You must complete 2FA setup before initiating your first withdrawal. - “Trust This Browser”: Optionally, you can trust your browser to reduce repeated verification prompts, but Google Authenticator will still be required.
3. Withdrawal Options
- Standard Withdrawal:
Available in the US, UK, and Japan. A flat $0.99 fee applies. Processing time: 2–7 business days. - Express Withdrawal:
Available in the US and UK with a 1.5%–2% fee + $0.99 per transaction. Funds arrive within 30 minutes, including weekends and holidays. - Japan Payouts:
Weekly payouts are processed every Monday at 1:00 AM GMT.
4. Transaction History
The Transaction Summary allows you to view and manage all your financial activity, including:
- Project payments
- Withdrawals
- Credit purchases
Transaction Columns Explained
- Transaction ID: A unique identifier for each transaction
- Date: When the transaction occurred
- Type: E.g., Project Payment or Withdrawal
- Details: Includes project/client references and payment method
- Amount: Total value of the transaction
- Status: Indicates whether it’s Completed, Pending, In Progress, Transferred, or under Dispute
5. Invoice Generation
Downloadable invoices are available for all Completed transactions, including both project payments and withdrawals.
Frequently Asked Questions
Can I choose my preferred withdrawal frequency?
Yes, you can select weekly or monthly withdrawals once you reach the $100 minimum balance.
What are the fees for Express withdrawals?
Fees range from 1.5%-2% plus $0.99, with funds typically arriving within 30 minutes.
What happens if my bank details are incorrect?
Incorrect details will cause a return, and funds may take up to 5 business days to reappear in your account.
How can I track progress toward my financial goals?
Use the “Comparison with Goals” section on your dashboard for real-time updates.