Now, you are freelancing for income here and would certainly like and expect to get paid for your work.
This is exactly what I will be discussing in this post, but I will be tackling this hot topic from two different angles.
- Different methods for receiving your freelance payments
- How to ensure that your clients actually do pay you
You may be interested in the different means that allow you to get paid by your freelance clients, because, like me, you do not reside in the US, UK, Canada, Australia, or any of the other "more-advanced" countries.
Even if you do live in one of these countries, you might find that receiving your payments for freelance work by paper check or some of the other methods I will be discussing in this post, do not particularly appeal to you.
And so you need more viable options for getting paid quickly and effectively.
Payment Avenues for Freelance Workers
The most popular is payment by check. It is convenient for your client, who simply writes it and drops it in the mail. However, you might not appreciate the time spent waiting for it to arrive by post, and the extra time before it gets cleared and can be deposited into your bank account.
Even if you live outside of the US, you can still get paid via check, but you should note that the time delay will be even more compounded in this case. There is, however, another persistent problem in this case.
Trying to cash US or other country checks in your own country can really be a headache.
Let me give a personal example here, although it wasn't a payment for freelance work specifically. The first payment that I received for my earnings as an Adsense publisher was a US check sent to my address here in Ukraine, where I live.
I can positively tell you that trying to find a way to deposit the money was not easy at all. I was literally referred from bank to bank. And to this day, that check is still lying somewhere in my apartment, un-cashed.
Needless to say, I have since changed my payment methods. I will discuss more on this later on in this post.
Payment by Bank Deposit
Depending on the client, you may have the option to get paid by bank deposit, also known as wire transfer.
This method ensures that you get your money faster; however, you have to be careful with this as it requires you handing over your bank account information to the client.
So, note: only use this method with clients that you trust. For example, don't use it with a first-time client that you found somewhere on Craigslist.
Payment Processors
These include popular companies like Paypal, MoneyBrookers, 2Checkout, etc.
Their service is particularly great because it saves time. I mean, you can literally get paid for your work within a few short minutes.
One downside, however, is the fee charged for these transactions. For example, Paypal gets a 2-3% fee for each payment you receive.
However, many people find the time, convenience, and security benefits that these processors offer worth the fees paid to use them.
I have experience with using Paypal both to receive and make payments online, and I enjoyed it for a long time.
Our love story came to an abrupt end, however, when I discovered that I couldn't withdraw payments from my Paypal account while in Ukraine.
Yes, that's right, Paypal offers differing services based on what corner of the earth you reside in.
So I found myself unable to receive freelance, affiliate, or any other payments through Paypal. Which brings me neatly to my last payment method.
Payoneer Debit Card
This payment method is the last in my list as it combines a variety of payments into one. It's the one I've found to work best for me, which I promised to talk about later.
You can receive payments from Paypal and a host of other processors and companies no matter where you are in the world.
As a freelancer, you simply request payment via Paypal from your client, and withdraw the funds onto your Payoneer Debit Mastercard.
Additionally, freelance job portals like Elance, Odesk, Freelancer, and others list the Payoneer Mastercard as a means of withdrawing your funds.
The company has a basic annual charge of $30 for card maintenance, which they deduct from the first payment(s) you receive onto the card.
The actual process of registering and applying for the card, and receiving it by post is absolutely free, which I found to be very useful at the time.
Register for your free Payoneer MasterCard by clicking this link, and stand a chance to win a $25 bonus. This offer is only available through this link. I didn't even know about it when I registered for mine. You should give it a try.
How to Make Sure You Get Paid, Not Played, by Your Clients
1. Start with a contract. Always begin your work for clients with a contract that clearly details everything that the job entails, including payment terms.
Get more detailed instructions and a free template for crafting freelance work contracts here.
2. Research your client. This should actually be your first step in establishing the legitimacy of your client. Use Google. Search out info on the clients as well as any complaints that may have been leveled against them.
You don't want to waste time and energy discussing plans with a client that you can already guess might not pay you.
If you are working on a freelance job site, checking on factors like the client's award rate might save you time spent on crafting a super proposal for their job posting. Typically, you should avoid clients whose profiles show award rates lower than 40%.
The award rate simply refers to the percentage of jobs that the client posts compared to the total number. So if a client awarded 7 of the 10 jobs he posted, then he has an award ratio of 70%, which is good.
3. Demand upfront payment. Making the practice of requesting an upfront payment from your clients of up to 30-50% will definitely help with getting paid.
After receiving your upfront payment, you can set up the remaining fee to be paid to you upon completion of agreed milestones (clearly stated in your freelance contract).
4. Be prompt with invoicing. Send invoices as early as possible. The fresher your work is in the mind of the client, the quicker you can get paid.
Delaying with sending your invoice could result in your payment being further delayed, or even worse, you never getting paid at all.
5. Follow-up on your clients. Don't keep mute if your client does not respond to your invoice. Follow up by phone, email, and even by post; always politely, of course.
Your follow-up system ahould also include actions taken to penalize late payments, such as fines. It could also include reminders of incentives for early paymemts like discounts. All of this, ideally, should have been clearly stated in the work contract that was signed at the beginning.
So, there you have it. Ways and means of making sure that an important part of your freelance life (Read: getting paid!) gets accomplished each and every time.
If these tips don't ensure you get paid, then I don't know what will.
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Did I miss any tip/idea in this post. Do you have a different opinion? Share it in the comments below.
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