Payments & Escrow
YiAiki uses an in-wallet escrow system so that funds are locked when you accept a runner, and released only after the task is completed and you confirm. A platform service fee of ₦500 applies per errand.
Before You Accept a Bid:
- As a Client, you need enough balance in your YiAiki wallet to cover the accepted bid amount plus a ₦500 platform service fee.
- If your balance is insufficient when you try to accept a bid, you will be prompted to fund your wallet (e.g. via card or bank) before you can complete the acceptance.
- You can top up your wallet at any time from your dashboard.
How Escrow Works:
- When you accept a Runner's bid (or assign an errand to a favorite runner and they accept), the full amount (bid amount + ₦500 service fee) is locked in your wallet—this is escrow.
- The money stays in your account but is reserved for that errand; it is not paid out until the task is completed and you confirm.
- Escrow holds until: the Runner marks the task as complete and submits it for your approval, and you confirm that the work was done satisfactorily.
Release of Funds (Completion):
- When the Runner has submitted the task for approval, you will see an option to confirm completion.
- Once you confirm, the errand amount is released to the Runner's YiAiki wallet. The ₦500 service fee is retained by the platform.
- If the Runner has unpaid fines or compensation owed, part of their earnings may be locked automatically until those debts are paid; the rest is available in their wallet.
- Runners can request withdrawals to their bank account. Minimum withdrawal is ₦1,000. Withdrawals are processed by YiAiki according to payout policies (e.g. processing time).
Why Escrow?
- Clients: Your money is only released after you confirm the work—no payment until you're satisfied.
- Runners: Payment is guaranteed once the client confirms completion; you don't have to chase payment.
- Both sides are protected: funds are held securely until the errand is completed and approved.