What is fund "holding" and what is the difference between total, held, and available funds?

When you deposit funds into your Field Nation account, they are available either for publishing and routing work orders or for withdrawing back out. When a work order is published or routed, the funds needed to pay the maximum possible amount will automatically be put in "holding". Held funds are separated from your available funds so that you don't mistakingly publish more work orders than you have funds to pay for them upon their completion. The held funds are eventually converted into an actual payment if the work order is completed and approved of.

Depending on the payment rate you configure for your work order, not all of the held funds may end up actually being used for the work order payment. For example, if you were to publish a work order that paid $20/hr for up to 5 hours, we would hold $100 when publishing the work order ($20/hr * $5 hours -- the max possible). If the provider worked only 3 hours to complete the work order, the payment would end up being $60. $60 of the held $100 dollars would go to the final payment and the remaining $40 would go back into your available funds.

If you wish to, you may cancel a work order before work begins by the provider. Canceling will return funds held for that work order back to being available. All funds held for the work order will become available unless you incur a late cancellation charge.

Now that we've explained what fund holding is, here's what it means for how your balance is displayed:
  • Available Funds - The amount of money you have deposited which is still free for use in publishing or routing created work orders.
  • Held Funds - The amount of money that is separated from your available funds because it could potentially be used as a payment for a work order once approved.
  • Total Funds - This is the total amount of funds you've deposited that have not yet been used to pay a provider. This is the sum of available funds and held funds

Did you find this article helpful?