The Mighty Internet Age opened a brand new era and globalized the world. Today, just one click is enough to join a meeting taking place on the other side of the world. There are neither distances nor unavailability for the ones who choose to be in the circle. In a world where everything is possible, even taking live online yoga lessons from a Yogini in Nepal or leafing through the old Washington Posts when you are camping in the skirts of Alpines. It is the same for the business sector. Today, we all know that most jobs do not require being physically present in an office. Especially, in this Covid-19 duration, many people have worked remotely and the system worked pretty well. Moreover, according to recent research, most of the leading company employees gave positive feedback in the questionnaires about “Would you like to go on distant working?”. Small businesses and enterprises alike realized that efficiency is not affected and they can profit in various ways such as reduced health insurance payments, food stamps and transportation. Thus, both businesses hiring freelancers and freelance jobs are mutually on the rise nowadays. So far so good! But what is the best way to pay for freelance work? To go on crystal clear about freelance payment methods, we better understand the concept of freelance.
What is a Freelance Job?
In simple terms, it is a job with an independent contract. A freelancer decides on time, place and how they work. They are under the obligation to provide their own equipment and tools. The companies can offer a finite contract which ends when the job is completed. By the way, to clear the clouds about “What is the difference between freelancers and employees?“, we better add the sub note that despite being a freelancer, an employee is attached to a work schedule and predetermined location.
What is the Best Payment Method for Freelancing?
How to accept payments from clients can be a struggle for freelancers. To choose the best payment method, you need to observe the options deeply. Who is your client? When is the payment? Which country is it coming from? What are the fees and costs of this transaction?
Let’s take a look at leading payment methods for freelancers.
- Debit/Credit Cards
Being generally used in small amounts, you may prefer plastic to be paid. But you better consider the high transaction fees and in some cases they can be pretty expensive for larger payments mutually. However, if both sides have SEPA banks, this process can be cheaper.
EFT (Electronic Funds Transfer) is a fast and simple way of transferring funds between accounts. The minus of EFT is the limitation for maximum amount and the number of transactions on a daily and weekly basis. Therefore, the amount may affect whether it is suitable for you or not.
- Wire Transfer
Wire transfers can be accepted as faster EFTs. This is the most commonly used payment method due to the fact that they are global and irrevocable at the same time. Although, they may take up to 2 to 5 business days to be received. The best part is you can see your bank receipt to be sure that it has been already sent.
To use this traditional payment option, we want to underline the importance of utilising his method only for clients that you really rely on and be there for the check’s procession if it is possible. Another flipside is the long duration of payments via checks.
These are the fastest, the most secure and the simplest way to get paid as a freelancer. In addition to the ease of opening an e-wallet account, you can also monitor the cash flow instantly for incoming payments. Most of the e-wallets also serve a prepaid card which you can use in any shop and online shopping site. Actually, in this aspect they are alike but faster alternatives to debit/credit cards.
- Crypto Wallets
It is an undeniable truth that crypto currencies are valid currency just like any fiat currencies today. So why not get paid by cryptocurrency as a freelancer? Are you worried about the volatility in the crypto market? Simply choose Tether (USDT) which is a stable crypto coin which is worth $1.00.
Our innovative e-wallet service, Jeton fully supports both individuals and businesses for secure and functional online payment methods. Join us today and open your Jeton Account with a few clicks. Get paid in minutes and do not risk your hard-win money with rip-off fees.