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How To Choose Global Freelancing Payment Method

In 2017, 57.3 million Americans were freelancers. It is a trend to continue climbing. The researchers estimate that by 2027 most workers will be freelancing.

We truly live in a global world. Companies can hire the best people regardless of their geographical location. But wages are not that simple. Continue to learn everything you need to know about freelance payment and what you need to know before you apply.

Things to consider

There are a few considerations to keep in mind when choosing the best online payment for international freelancers.

The first is a fee. You need to consider how much it costs per transaction. Also, be cautious about global acceptance. Some providers only support some currencies, and some countries do not. There is a conversion fee for the transfer fee. These are often built into the exchange rate, but exist. Other providers charge different conversion fees.

You should also ensure that your payroll processing is secure. The last thing to think about is how easy it is to use. Both sender and receiver are for you. Either way, should I create an account? Can I pay directly to the recipient’s bank account or cash receipt?

As you can see, international payments require prior consideration and research. Read more about global payment processing. Let’s take a look at some of the best online payment methods for international wire transfers.

Paypal

PayPal

The biggest name in online payments is PayPal. It is active in 203 countries around the world and is easy to pay.

You can easily learn how to pay via PayPal. The recipient’s email address is required. Your remote freelancer is likely to already have a PayPal account. This is useful for recipients because you can easily pay by connecting your PayPal account to your bank account and credit card.

The problem with PayPal is that not all countries support PayPal withdrawals to the local bank. If you send money to someone you can not deposit into your bank, you have a PayPal balance that is only available online. You certainly do not want it.

Also, PayPal is not a bank. If not, you will lose your PayPal balance. PayPal is not an FDIC insured.

Payoneer

Payoneer

The advantage of Payoneer is that you can easily pay for multiple freelancers at the same time. The Mass Pay option allows you to pay between 5 and 20 people at a time.

Payoneer supports business and freelancers in more than 200 countries and is a safe international payment instrument. If your organization has multiple freelancers, Payoneer may be the best option.

2checkout

2Checkout

2Checkout is one of the best options for international freelancers. It supports many currencies and languages.

Best of all, it integrates with PayPal and credit and debit cards. When a freelancer receives payment, you can connect to your bank account.

However, there is a fee to send money to the account. Currently, 3.9% of international payments and 2.9% of domestic payments. Freelancers can absorb this cost by adding transmission costs so that they do not have to pay for it. There is a conversion fee and a 30 cents fee for each transaction.

Conclusion of freelance payment methods

We hope this guide will be useful to you on the various ways you can pay freelancers.

You should always investigate whether freelancer currency, language, and local banking are available for your chosen freelance payment method.

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