The freelancing industry has been growing over the last couple of years, as more people seek to find new ways of making ends meet. Like any other kind of work, you should get paid after completion, and this piece focuses on ideal ways of receiving your payment.
Payment options
Check
Accepting checks from your freelancing client is probably the most effortless mode of receiving payment because you don’t incur extra charges for depositing the check into your local bank account. However, beware that you may have to wait a bit longer for it to arrive in your mailbox.
Credit Card
Credit cards offer you an excellent platform for receiving international payments, especially from someone who prefers paying with plastic. Often, most payments get processed through PayPal and other online payment systems.
PayPal
Although PayPal is commonly used to make online purchases, you can open a free account and use it to receive payment for your freelance work. It is a fast way of receiving funds directly to your PayPal account, but you will have to cope with high transaction fees.
Wise
It is an international payment specialist where you can receive your freelancing payment in numerous currencies. Wise offers you a unique opportunity to transfer funds directly to your bank account at a favorable exchange rate, ensuring you receive more money.
Payoneer
Payoneer is a fast and easy-to-connect banking service designed for businesses to send money online. You receive payment for your freelancing work from all places around the world in multiple currencies.
Western Union
Western Union allows you to receive or send money online, where you receive funds directly to your bank account. Your freelancing customer adheres to the following steps:
- Creates a free profile
- Chooses the amount and destination
- Fills in your bank account details
- Selects a secure payment method
- Sends the funds
Skrill
For you to receive online payment via Skrill, you will have to create an online banking account. You receive your funds to a local currency account for free, where you can later withdraw to your bank account.
Bank Transfer
You can choose to go with the old-fashioned way of providing your local bank account to receive international payment. However, the transaction may take longer before completion, and you will also have to cope with extra transaction charges.
Electronic Fund Transfer (EFT)
EFT is a quick, inexpensive, and easy way of receiving payment to your bank account without using a credit card or online app. Your money takes a few days to arrive but, upon arrival, you don’t have to worry about any more transfers.
Cash App
Another online platform for freelancers to accept payment into their linked debit card or checking account. You may have to wait for a few days for the transaction to be successful. If you are in urgent need of cash, you can pay extra to get an instant transfer.
Conclusion
The above options provide ideal platforms for freelancers to receive international payments. Ensure you secure your transactions by sending an invoice for completed work and setting up a follow-up system to remind your customer.
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