Since we announced that we will be removing PayPal as a payment option, merchandisers have asked questions about fees, loyalty commission, insurance, the reasons for the change, and the last day. Here are the answers:
When do I get paid?
Payments are processed the business day after you request them. Business days do not include holidays or weekends.
Openforce Fees and Why You Don't Need to Worry
Openforce changes a processing fee of 1.65% of the requested payment. The insurance fee is 1.25% of the requested payment. That's a total of 2.9% in fees.
But don't let this scare you away. Why?
Because of the loyalty commission, you will net MORE MONEY that what you request.
Not a lot more ($9.84 per $1,000 requested) but more than the fees.
You will receive a monthly loyalty commission equal to 4% of what you requested the previous month. It gets added automatically on the first business day of the month and, if it's more than $5, gets automatically requested for you.
If you requested $1,000 in February, your commission would be $40.
You would receive a net amount of $971 from your $1,000 requests and $38.84 from the $40, for a total of $1,009.84 from your $1,000.
Please note that you do NOT earn a loyalty commission on the commission. The $40 in the example would NOT generate a commission.
Insurance. Survey is requiring merchandisers to be insured insured. If you get hurt while completing a Survey project, we want you to be covered.
But getting occupational accident insurance is challenging. We chose Openforce because they are set up to provide you with insurance through their marketplace.
They have been around for more than 20 years, have more than 60,000 customers, process payments for more than 300,000 contractors, and process more than $2,500,000,000 (2.5 billion) in payments per year.
They are a great solution for independent contractor payments.
Occupational Accident Insurance:
What does occupational accident insurance do for me?
Occupational accident insurance provides financial coverage for injuries incurred by independent contractors (ICs) while on dispatch for an approved contracting company. It differs from workers' compensation insurance, which only covers a company's hired employees. As a result, occupational accident insurance may provide the only available avenue of relief for ICs injured in a work-related accident.
Acquiring occupational accident insurance through the Openforce platform also provides:
- Settlement-deducted premiums paid in arrears. Our automated platform ensures you always have the right coverage when you need it (without needing to pay for time not worked).
- No exclusions. Enjoy a plan with no exclusions for pre-existing conditions and no commercial driver's license requirements.
- Comprehensive coverage. Includes accidental dismemberment or loss of use, temporary total disability based on gross earnings, and common occupation diseases such as hernia, hemorrhoids, and cumulative trauma.
- Percentage-based premiums. Insurance premium is 1.25% of weekly gross commissions, per settlement, ensuring ICs pay no more than they need to.
Here s a link to a PDF about it: https://s3.amazonaws.com/survey-mediaforsurveys/openforce_occaccforics_(1).pdf
How do I enroll?
To learn more and enroll, click here: https://merchandiser.survey.com/openforce