Loom's business is dependent on the 8% fee we deduct from payments to freelancers.
Going around Loom's payment system is a serious violation of our Terms of Service and could result in additional fees, legal action and removal from the Loom platform. The fee for circumventing the Loom payment system is $3,000 plus 8% the amount of all fees owed to the contractor.
If needed, you can pay an opt-out fee to receive payments outside of the Loom platform. The opt-out fee is equal to 8% of the agreed upon budget of the project. You can request to pay the opt-out fee by emailing email@example.com and we'll send you an invoice that can be paid directly through Loom.
If an employer asks you to receive payments outside of the Loom platform, contact firstname.lastname@example.org immediately.