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Saturday, November 16, 2019

Collecting freelance payments while studying abroad

Seven ways freelancers can collect client payments while studying abroad

Freelancing is often a perfect fit for those studying abroad. After all, if you're willing to embrace the freelance mentality and you can conduct your business either online or over the phone, then you can keep earning money, no matter how far from home your adventures happen to take you. So, without further ado, here are seven options for freelancers looking to collect client payments while studying abroad.

1. PayPal (www.paypal.com)

PayPal is one of the world's most well-known and popular online payment processers. Its secure services provide instant invoicing and reliable payment options for many freelancers and their clients.

2. Escrow (www.escrow.com)

Another popular service used by freelancers is Escrow. Escrow helps remove the risk of online transactions by holding payment until agreed-upon conditions are met by both parties. This can be especially useful when dealing with larger projects and new clients.

3. Google Wallet (www.google.com/wallet)

Though Google Wallet can only be used to transfer funds within the United States or the United Kingdom, it can be a good option for freelancers studying in either of these countries due to its lack of fees. The service, which can be used to send funds at no cost between family and friends, is also free to use for sole proprietorship businesses.

4. Square (www.square.com)

Square card readers can be used to accept in-person and over-the-phone debit and credit card payments in the United States, Canada, Australia, and Japan. Upon acceptance to the service, freelancers are given a free card reader that can be used to securely collect client payments.

5. Western Union (www.westernunion.com)

Western Union helps facilitate client payments by processing transactions either online, by phone, or in person at a branch office, ATM, or kiosk. Western Union currently operates in over 200 countries and has more than 500,000 agent locations.

6. MoneyGram (www.moneygram.com)

Like Western Union, MoneyGram operates both online and through branch offices in over 200 countries around the world. MoneyGram, however, has fewer branch offices, ATMs, and kiosks than Western Union.

7. Electronic Funds Transfer (EFT)

Another popular option used by freelancers is Electronic Funds Transfer. To accept payment by EFT, you simply need to provide the necessary banking information to your client, who can then direct their payment to your selected account.

Please note that in many cases, payment processors charge one or both parties a fee for handling the transaction. As such fees are not standard from one company to the next, it can be worth shopping around before deciding on which payment option will be right for you and your clients. If you and your clients are comfortable sending and receiving payments through one of the cheaper options, you could end up saving a lot of money in the long run.

Freelancing is a great way to earn money while studying abroad. Thankfully, no matter which type of freelancing work you specialize in, there are several reliable ways you can be paid for your services. With so many payment options available, freelancers should have no trouble collecting client payments while studying abroad.

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