The joy of freelancing is mostly in doing some work right on your laptop and seeing your financial status rise. However, there is always the challenge of payments being delayed or not coming through as expected. Sometimes, these hitches in payment stem from a lack of understanding of the various payment methods available to you.
First of all, there is more than one method at your disposal. Let’s explore some in brief details.
PayPal is probably the most common payment platform out there. Freelancers enjoy PayPal for its renowned and reliable payment solutions in many parts of the world. Once your payment is processed, you can quickly withdraw and use these funds. There are fee charges for fund transfers, so you should do your part in taking note of this (as this could affect how you charge for your freelance work).
Many freelancers consider Escrow as the most secure form of payment. Escrow primarily acts as a third party between you and the client. So, this is how it works; the client deposits funds for the work and Escrow will hold on to it until you submit your work and both parties are satisfied. There is a fee for this service (just like with PayPal and many others really).
It is an excellent choice to invoice payment for your work if you wish to receive the payment on time. You can create an invoice in minutes. Your client will get the notification and also get reminders if they forget to act on it.
No one monitors fraud as Google Wallet does. You can also quite easily integrate your Google Wallet with other payment options you already operate. They also have lower fees compared to other major payment platforms.
The Western Union
The good old money transfer known as the Western Union is a quick way to get money from your client anywhere on the globe. They have hundreds of thousands of locations (collection and deposit points) scattered all over the world. It is very similar to MoneyGram, but the latter has fewer branches.
This small-scale software allows payment from any part of the world possible. There is also the avenue to sync this account with larger platforms like PayPal and Apple Pay.
It is another platform to receive payments for your freelance work.
It is quite a unique platform on its right. With Paymo, you have the opportunity to receive payments and keep track of your work.
As a freelancer, you have the option to release funds from your freelance account straight you’re your bank account. There is a fee for this, but the security is probably second to none. You need to provide necessary transfer details on your freelance profile, however.
Cash Wire, Alert Pay, and Xoom are other online money transfer options that you can take advantage of.
So, there are many ways to receive payment for your freelance work. You merely need to sift through them carefully and pick the one that works best for your capacity and your location.