How to Get Paid Internationally
As a freelancer working is one part of the deal. The other part is knowing how to get paid for the work without losing anything on payments. When working with overseas clients, the way of payment can affect the amount of money earned. In this article, I will discuss the popular international payment methods for freelancers, what are their pros and cons, and how to choose the right system.
Why It Matters
When clients pay for services in another country the money paid to the service provider gets deducted at several stages during transfers and converting money into another currency, and cashing out. A good payment method will help to avoid extra costs, receive the payment faster, and look more professional.
PayPal 
PayPal is a platform that enables its users to send money to each other without disclosing their bank details. It is also popular amongst freelancers for receiving the money from one or more clients and paying for services.
Pros:
‣Familiar to clients
‣Fast and easy to set up
‣Good for small amounts
‣In use of every single person
Cons:
‣Expensive system for international payments
‣Conversion rates are often unfavorable for the receiver
‣Can have account limitations
Best for One time and small payments to clients who already use PayPal.
Payoneer
So Payoneer is a payment platform made for freelancers, businesses and online sellers. Payoneer helps users receive payments from clients and freelance marketplaces manage funds in supported currencies and withdraw money to local bank accounts.
Pros:
‣Good for marketplace freelancing
‣Multi currency
‣Free withdrawals from other Payoneer accounts
Cons:
‣Withdrawals and conversion fees
‣Inconsistent commission rates
Best for Suitable for those who work on marketplaces and with clients.
Wise
Wise is a money transfer service that helps people send and receive money across countries. Wise shows transfer fees and exchange rates before a transfer making it useful for freelancers who need to receive payments or move money between currencies. Available features depend on the users country.
Pros:
‣Transparent commission
‣Good for all currencies
‣Multi currency account
‣Fair exchange rates
Cons:
‣Not available in all countries
‣May not be familiar to clients
Best for those who work with foreign customers and want to make cheaper currency conversion.
Stripe
Stripe is an online payment processing platform that helps businesses and freelancers accept payments through websites, apps, and payment links. It supports methods such as debit cards, credit cards, and other payment options depending on the country and setup.
Global Payment Processing Platform
Pros:
‣Looks more professional
‣Invoicing feature
‣Clients can pay by card
‣Good for recurring payments
Cons:
‣Not available in all countries
‣Expensive for international transfers
Best for those who need to invoice their client and run a proper freelancing business.
Bank Wire Transfer (SWIFT)
A bank wire transfer is a method of sending money from one bank account to another often across countries. Freelancers can use it to receive payments from clients. International transfers may involve bank fees exchange rate costs and processing time.
Pros:
‣Good for recurring payments
‣Bank security
‣International payment statement
‣Straightforward
‣More trusted by banks
Cons:
‣For the first time it is slow compared to other systems
‣Conversion rates are expensive depend upon bank
Best for Large scale payments to companies and corporations.
Comparison
The most common: PayPal
Best for marketplaces: Payoneer
Best for currency conversion: Wise
Best for invoicing: Stripe
Best for large payments: Bank (SWIFT)
How to Choose the Right Payment System
Consider what country you are in some systems are not available in certain countries
Choose the method depending on your clients use the system your customers are comfortable with
Look at the total cost: commission for withdrawal, conversion, and cash out
How to Make Sure You Are Getting Paid
Always invoice the client: use an invoice to list all the necessary expenses and pay for them later.
Request a deposit: for significant projects, ask clients to pay a deposit. This ensures coverage of some expenses in case of cancellation.
Use milestones: divide the project costs according to the stage of work and withdraw money as the client approves each part.
No request: do not accept strange requests for payments and do not accept overpayment from clients and return the money.
Always keep the documents: store all invoices and documents about payments for future reference.
Taxes and laws: follow the rules and laws of the local authorities concerning freelancing and taxes.
Final Thoughts
Each client is unique, so there is no standard payment procedure. PayPal is simple and familiar to clients; Payoneer is good for marketplaces. Wise is ideal for currency conversion, Stripe for invoicing, while SWIFT is for large-scale payments. The choice of the payment system depends on the client, the countries of the client and the freelancer, and the project’s size. For a new freelancer, it is essential to choose a secure payment method and build relationships with customers. Always use invoices for payments and remember that everything goes smoothly when the money flows.
