5 Freelance Payment Options That You Can Try

Everyone is horning their skills as a freelancer for one target: to get payments. When there are so many payment methods to choose from, you might be confused about how to get paid as a freelancer. Now that you have a sea of options to choose from, you can easily look at the pros and cons for each and then settle on what works best for you and your client. It is recommended that you have this talk with your client during the signing of the contract.

Freelance payment method

Information about the various freelance payment methods is necessary and can help you while you’re talking to your client about it. Also, some clients already have their preferences and they mention it to you before the start of the project. So, you can think about what works for you and settle on that ultimately.

Below are the 5 pro freelancing payment method:

PayPal

PayPal is one of the most renowned apps for money transfer. Therefore, it becomes one of the most likely options when you’re looking for freelance payment methods. But then it also comes with its pros and cons. You have to look at all of them, overlook some and then make your decision.

Pros:

• PayPal is a widely used software and applies to your clients overseas. Most clients won’t hesitate much on the thought of using this application
• Also, you can easily create your account on this application and utilize its services by the means of credit cards, debit cards, net banking, and other such options.

Cons:

• One of the major cons for the application that has also hindered its further growth is that it has a huge transaction fee. It can be a hindrance for you, not your client. So when thinking about receiving payments, this is an aspect that you have to focus on for your benefit.
• Also, with the application’s security features, it can freeze or lock your account when it suspects any suspicious activity. Therefore, your account would be locked for a few days and you will not be able to use the money in that account.

Skrill

Skrill is another great application to consider freelance payment options. This application also supports transactions throughout the world and offers transactions in many currencies. Therefore, it seems like a great alternative to PayPal when you come to think of it. Its charges are also similar to that of its counterpart, PayPal.

Pros:

• A great advantage of using Skrill is that it is a very secure platform. So your transactions are going directly to you and nobody that exploit your details
• Another great benefit is that it is also fast. So the transactions that you make are visible to you in a very short time and can be done quickly as well. This is a great aspect of this website.

Cons:

• One of the major drawbacks of Skrill is its lack of acceptance. There are many countries where it is not accepted as a form of payment. With this, it becomes a less likely application to be used as compared to PayPal.

Google Pay

Google pay is a legit Savior for all freelancers. It serves as one of the best payment methods and provides you with great freelance payment methods. One of the best parts about this application is that there is no transfer fee. So you don’t have to pay less or more for transferring any amount.

Pros:

• Google pay offers many benefits such as no transfer fee along with safe and fast payments. This makes it a great option to be used for transferring money.
• Also, you can easily transfer money to any phone number, bank account, or to any other google pay user.
• Another great benefit of the application is the rewards and cashback that you’re likely to get after making every transaction. This makes it a very lucrative option.

Cons:

• The only holding back with Google pay is that it has limited online payment partners. This can cause hindrance for you in some cases.

Checks

It is a formal yet traditional offline method of payment. Generally, it is not preferred as such in the freelancing marketplace yet it serves as a great option for many cases. For this method, you should ensure that the checks can be provided to you. This method is not recommended for overseas clients and those clients that you don’t trust. You have to ensure that the check will get processed.

Pros:

• This payment method also has no additional fee for processing. Also, it is a highly convenient option for many clients
• Checks also can be processed directly into your account and generally don’t cause much hassle

Cons:

• A great drawback of this method is the amount of time that goes into processing the check. It can take longer for some cases than the others
• Also, depositing the check in the bank can seem like a task to many people. So for them, this freelance payment method is not recommended

Escrow

Escrow is another virtual payment method that allows secure and fast payments from one account to the other. It is specially designed in the interest of both parties and safeguards them. For this, the buyer has to first deposit the amount before the worker starts the project. Once the buyer confirms that the project or the job is received, the amount is shifted to the account of the worker. In this way, harmony is maintained between the two parties.

Pros:

• It is a great method of payment with new clients to ensure that you’re secure and you get paid

Cons: 

• A great drawback of this application is the transaction charges. You have to pay a surplus of 3.25% to make any transaction over this.

Conclusion

There are many methods to get paid as a freelancer. In the end, it is about your choice and what serves you the best. It will depend on your country of residence and the location of the client as well. Also, it can depend on both of your preferences. However, don’t hesitate to put forward your choice of freelance payment methods.