Working as a freelancer or remote writer can be very interesting because it’s not only lucrative but also flexible. Many writers are opting to work remotely rather than on-site or full-time.
However, it doesn’t come without challenges, one of which is getting paid. Although this is not often an issue if you work for clients in your country, why limit yourself when the world is literally at your feet?
You’ll likely get more from writing if you don’t let geography limit you, especially if you don’t reside in a country with many opportunities like the US or England.
In this case, you might face certain hitches when receiving payment if you don’t know where to look. Therefore, this article will show you how to accept payment internationally as a writer.
5 Effective Ways to Accept Payment Internationally as a Writer
1. Bank Transfer
This is a quite straightforward process, especially if the two parties are in the same country or use similar currencies, like in the EU. However, while the process of sending is hitch-free in other cases, it takes days to get to the receiver, and it attracts high bank charges.
So, if you don’t mind waiting, this is a good option. It is particularly good for domestic transfers.
2. Wire Transfer
Wire transfer is similar to bank transfer in that you send the money directly from your bank account, and the recipient receives it in theirs. The major difference is that it’s often performed by other financial institutions, and the transaction fee is steep.
It is much more straightforward and does not take as long as the bank transfer. But while the sender might be able to send freely, the receiver will bear the brunt of the expensive charges.
Western Union and MoneyGram are popular names to consider when considering wire transfers.
3. Online Payment Platforms
Online payment platforms are probably the most popular of the different payment methods. In this case, both the sender and receiver create an account with the platform, from which they can send and receive money on the platform.
Then, you can send the money to your local bank account. You can also conduct direct online transactions from these platforms to pay for services or shop at e-commerce stores.
It is a very convenient option to accept payment internationally as a writer. However, it’s not free, though; some charge per transaction, and others operate a subscription model.
Good examples are PayPal and Stripe; many freelance writers use the former, especially as their main system.
However, some of these platforms are limited, as they are not available in all countries or restrict activities in some countries. For instance, in some Sub-Saharan African countries, PayPal does not allow users to withdraw money.
4. Digital Wallets
Digital or e-wallets are similar to online payment platforms; sometimes, the services overlap. Digital wallets function as virtual bank accounts to send and receive money. In most cases, they offer a debit card that can be used for withdrawals or to make payments online.
They also offer bank accounts in the major trade currencies to ease the process of receiving money. Therefore, if you have a client in England and one in the US, you can give them your account details for both currencies, respectively, and they’ll get to send you money through bank transfer.
That way, it’ll be the same process as sending money domestically. You’ll get the money in your wallet, which you can withdraw to your local bank account or keep for future use.
There are several digital wallets today due to the prevalence of remote work, but two popular ones are Payoneer and Revolut.
I use Payoneer and swear by it. That’s my main payment system for my blogs and receiving money from clients when I freelance. Once the money hits my wallet, I can get it in my bank account within a day or two. Apart from sending it to your local currency, you can also send it to a Domiciliary account in the same currency.
As I said, Payoneer provides me with a US bank account that I present to my clients to make bank transfers from the US. You can also get bank accounts in other major currencies, such as GBP and CAD.
I have yet to have issues with the platform; the process is seamless in my experience. Plus, their customer service is responsive.
While sign-up is usually free for digital wallets, they charge transaction and conversion fees.
5. Cryptocurrency
Another option that is gradually becoming prevalent is the use of cryptocurrency. More people are beginning to consider this option because it is borderless, cost-effective, and seamless. Sending crypto does not encounter roadblocks because the system is decentralised, so it doesn’t require a long process.
It is particularly a good option for those who already invest or trade with crypto.
Bottom Line
Although each of these options has its pros and cons, the good thing is that you don’t have to stick to one. You can always use everything depending on the peculiar situation. For instance, if you get a domestic client, they can do a bank transfer. But if it’s an international client, you have more than one option and should find one that’s convenient.
Which payment platform is your favourite? Let me know in the comment section below.
