How to Accept International Payments as a Freelancer

How to Accept International Payments as a Freelancer
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In today’s video, you’re going to learn the best way to accept international payments as a freelancer, how to avoid paypal fees when accepting payments, and a Transferwise borderless account review.

So you've secured the freelancing job, got the client onboard, and now it comes to actually getting paid for your services. Now, there are lots of different ways to accept payments in another country. I'll talk about my favourite one in a second where you can avoid most fees, but to begin with, I would recommend just getting the money in the simplest way possible.

Especially when you're just getting started, don't worry about fancy invoicing and all in one software that takes payments as well, just go for Paypal or, if you're in the US, Google Pay, Venmo, Zelle. One of those ones that's just a simple payment processor. Everyone knows and trusts Paypal, you can pay with Paypal directly or with credit card, its simple, and you can even create invoices with it.

However, it does take some hefty fees. And not just for taking payment, they also have a pretty bad exchange rate if you're accepting money in different currencies. That is annoying when it starts eating into your income, but, personally, it's just something I've had to accept. Paypal takes a decent chunk, but it can be worth it just for the ease, security, and peace of mind. One thing you can do is pass those payment fees on to your client. I just have a note in my invoice that Paypal isn't preferred because of the fees associated with it. Some clients pay in extra if they're using Paypal just because of that. But anyway, enough about Paypal. I'm here to talk about the ways you can avoid those Paypal fees as a freelancer.

The single best way I've found to accept international payments is through Transferwise. They have no hidden fees, some of the best exchange rates, and they're just a really transparent company.
I have both a Transferwise business account and a personal account. I started using them for travel, as they had some of the best exchange rates. With TransferWise's borderless account, all within one online account you get many different bank details and you can also accept so many different currencies. So you can get your clients to pay you by just transferring the money to the corresponding bank, then convert it. You can also set up your Paypal so it doesn't auto convert your currencies. Instead, withdraw them from Paypal to Transferwise and use the much better exchange rates there to convert your currencies.

It's so easy to transfer between currencies, you can accept in lots of different currencies, and it's also handy for travel.

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How to Accept International Payments as a Freelancer

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