Another essential that you need to prepare as you start your freelancing career is understanding the difference between freelancer payment options. This is because, during an interview, clients will ask you about these things. And it will benefit if you already have an idea or already have signed up because you will receive your salary through the platform you and your client agree to.
As freelancers, getting paid makes you happy. In addition, you want to ensure that you are fairly compensated for the services you provide. Thus, registering with a freelancing payment tool is a must.
However, with the various platforms available, it might confuse you. And considering the remote setup with your client, how can you be sure that you get paid? Thanks to the different freelancer payment tools available. Getting paid is now easy and quick. What are these payment options for freelancers? How are freelancers being paid?
Safe and Secure Freelancer Payment Options
You can use Paypal to quickly and easily pay for your online shopping. In addition, it is the most reliable way when it comes to receiving salaries from your clients.
There are instances where PayPal will hold funds. And, one of the reasons is when you receive bigger than you usually receive. So, when this happens, you need to wait for certain days before you can transfer the money.
How PayPal works?
- Sign up for free
- Link your cards
- Choose Paypal at checkout
Wise is formerly known as TransferWise. It is another freelancer payment tool that is convenient to use. This is because it sends money instantly. Also, the same with Paypal, this tool is also fast. When you transfer the money, you gonna receive it in a short period. Moreover, for checking balance instantly, link your bank accounts to your Wise account. And, when you transfer funds, you can check online right away.
How to set up a Wise account?
- Register in minutes
- Verify your identity
- Top up your account
- Share your account with your clients to get paid
Online freelancers are increasingly using Payoneer as a method of payment. The same with Paypal, Payoneer lets you send invoices and bill clients. The funds are transferred directly regardless of where they come from.
In addition, Payoneer is your best bet if you need to withdraw funds from your account quickly. And if you have a Payoneer card, you can withdraw funds immediately.
This payment tool might be unfamiliar to you since payments are usually made in batches, but not exclusively. The platform functions similarly to an HR payroll system that processes paychecks by automatically debiting foreign bank accounts. This platform, however, also allows individual payments. On top of that, the platform requires you to register and verify your account and identity.
5. Other Freelancer Payment Options
One of the most reliable payment platforms locally is through GCash. If you have a local client, you can make use of this tool. In addition, you can also link your GCAsh to your Paypal for instant money transfer.
Like with Gcash, PayMaya allows collecting payment from other local clients as well. And you can also link your PayMaya account to other payment tools.
Coins.ph (local and international)
Through coins.ph, freelancers can receive cryptocurrency payments. Using cryptocurrency, you can exchange goods and services online. Many companies have issued their own currencies, often referred to as tokens. You can trade these tokens for goods or services that the company offers. Think of them like tokens from arcades or chips from casinos. And for you to access the good or service, real currency needs to be exchanged for the cryptocurrency.
This platform makes it very easy to convert crypto. You can send the payment directly to your Gcash, PayMaya, or bank. Make sure the crypto received is supported by coins.ph.
How do you Invoice Clients?
There are two simple ways to invoice clients. First is you can create a bill using any of the freelancing payment options. And second is through manually creating an invoice using canva or a word document. Either way, it is important that you have discussed this matter with your client. Like the dates that you will send an invoice as well as the day the client will pay you.
On the other hand, if you’re hired through a freelancing platform like UpWork, Fiverr, and Hubstaff, you can create your invoice there and then send it to your client right away.
The freelancer payment options mentioned have pros and cons. This is why you need to understand each of these platforms. Then, decide which one you will use depending on your needs and preference.
Do you need a guide when it comes to building the foundation of your freelancing career? Surge, an FVA Corporation Company is here to provide end-to-end freelancing solutions. Feel free to check on Surge mini-courses here: https://academy.surgedigital.agency/ and be a rockstar freelancer.
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