A default payment method is used to automatically pay scheduled transactions, such as membership renewals for freelancers and hourly job payments with auto-pay enabled for clients. This is usually the payment method used during sign-up unless otherwise specified.
If your default payment method fails for any reason during the membership renewal, your Backup Payment Account will be charged. If both payment methods fail, your membership account will be automatically downgraded to ‘Basic’ for freelancers.
If your default payment method is a credit card, make sure that your expiration date is updated. If your default payment method is your Elance account balance, make sure that you keep a sufficient balance to pay for the monthly membership fees.
The default and backup payment method can also be used by clients to auto pay hourly jobs. To enable auto-pay, the client must have an authenticated credit card or PayPal account set as the default payment option. For more information about Auto-Pay, click here.
What if I don't see the method that I want in the drop-down?
If you would like to change your default payment method to a different account, but you do not see the desired option in the 'Default Payment Method' dropdown, go to 'Manage' and then click ‘Financial Accounts’ and add a new account in the 'Active Accounts' section.
The default payment method can be changed at anytime by going to the 'Default & Backup Payment Account' section in the 'Financial Accounts' page.