Forhopp is committed to providing transparent and competitive pricing for freelancers and clients. Our fee structure is designed to maintain a sustainable platform while ensuring both parties receive excellent value for their money. Below is a detailed breakdown of the fees associated with payments and withdrawals.

1. Fees for Clients

Clients are charged minimal fees to facilitate transactions and ensure platform sustainability.

Transaction Fee

• A 5% transaction fee is applied to each payment made to freelancers.
• This fee covers secure payment processing, fraud prevention, and platform maintenance.

Example:

If you hire a freelancer for a $100 project, the total cost would be $105 (project cost + transaction fee).

2. Fees for Freelancers

Freelancers are charged service fees on their earnings to support platform features like secure transactions, dispute resolution, and marketing.

Service Fee Structure

Forhopp employs a tiered fee structure based on the earnings per client:

• 10% on the first $1,000 of earnings with a client.
• 5% on earnings exceeding $1,000.

Example:

If a freelancer earns $2,000 from a single client:

• The first $1,000 is subject to a 10% fee: $100.
• The remaining $1,000 is subject to a 5% fee: $50.
• Total fees: $150.

3. Withdrawal Fees

Freelancers can withdraw their earnings using various payment methods, each with its associated fees.

Available Withdrawal Methods:

1. Bank Transfer
   • Fee: $2 per transfer (domestic) or $10 per transfer (international).
   • Processing Time: 3–5 business days.
2. PayPal
   • Fee: 2% of the withdrawal amount, capped at $10 per transaction.
   • Processing Time: Immediate.
3. Payoneer
   • Fee: $3 per transfer.
   • Processing Time: 1–2 business days.
4. Direct Deposit (for U.S. residents only)
   • Fee: $1 per transaction.
   • Processing Time: 2–3 business days.

Example:

If you withdraw $500 using PayPal, the fee would be $10 (as it exceeds the 2% cap).

4. Currency Conversion Fees

For international transactions, Forhopp applies a currency conversion fee of 2.5% above the mid-market exchange rate to cover processing costs. This fee is applied when:

• Clients pay in a currency different from the freelancer’s preferred currency.
• Freelancers withdraw funds in a currency different from their account default.

5. Additional Costs and Considerations

1. Dispute Resolution Fee
   • A fee of $25 may be charged if a dispute escalates to mediation and the client or freelancer is found at fault.
2. Inactivity Fee
   • Accounts with no activity for 12 months are subject to a $10 monthly inactivity fee, deducted from the available balance.
3. Reversal Fees
   • In case of a payment reversal due to chargebacks or disputes, a $15 reversal fee applies.

6. Fee Transparency and Updates

Forhopp ensures transparency in its fee structure:

• All applicable fees are displayed during transactions and withdrawals.
• Clients and freelancers are notified of any fee changes at least 30 days in advance.

Conclusion

Forhopp’s fee structure is designed to balance affordability and platform sustainability. By providing competitive rates and a variety of payment options, we aim to deliver value to both freelancers and clients while maintaining a secure and efficient marketplace. For further details or assistance, visit the Help & Support section or contact us at support@forhopp.com.