Freelance Online Payments – How to Reduce Your Fees

A growing number of people is migrating to the online work environment. This is mainly the case due to the fact that online freelance work is the most liberal labor market in the world. You can negotiate directly with clients from around the globe and set your work conditions without the middleman.

What can be inconvenient in this form of work are payment procedures. When you’re getting paid online, you might have to pay high fees to the payment mediators. In this guide, we’ll explain how to reduce fees for online payments.

Pay less using PayPal

PayPal is one of the most popular online payment services, due to its reliability and expediency. However, it also charges some fees for online payments. For entrepreneurs and online workers it’s $0.30 plus 2.9% of the paid amount of money. For larger transactions, it can be a substantial sum. Here’s what you can do to minimize these fees.

Getting paid as a friend or a family member

If you use PayPal to create invoices for your work, you’ll automatically be charged the aforementioned fee for business users.

However, if you use another option, such as an online invoice maker, or an accounting software, you can write in that invoice that you are client’s relative or friend. By doing so, you’ll dodge the payment fee and keep a few cents more on your account.

The main drawback of this payment is the step in which the client needs to sign in their PayPal account and authorized this friend/relative payment there. Also, the payment they make that way won’t be protected, which can be off-putting for some clients.

That’s why you should suggest this payment hack only to reliable and long-term clients.

A direct transfer to a bank account

Another clever way to access your PayPal payment without fees is to make a direct transfer to your bank account. It will take one or two work days for this transaction, which is an acceptable amount of time.

Nevertheless, you need to check with your bank the currency exchange rates. Some online freelancers get paid in dollars or euros, but they can only withdraw their payment in their domestic currency. Since there are usually some fees here, make sure to double check these conditions.

Online payments via credit cards

 

More and more online entrepreneurs are turning to plastic payments. Credit cards are omnipresent and they’re accepted as payment methods in every corner of the world.

Also, their providers are constantly making an additional effort to improve their security features. For instance, Mastercard has recently started using the fingerprint technology for their cards.

What you need to do if you want to get paid via credit cards is to create an account on Wave, PayPal, or any other online payment platform. When your client makes a credit card payment, it’s processed to your account. After that, you withdraw your money via the option you’re previously chosen (read the PayPal paragraph above).

In case the number of payments you receive via credit cards rapidly increases, think about getting your own processing terminal for this sort of payments. E-commerce entrepreneurs often have the need to start using these payment options, to reduce their fees and speed up the payment procedure. Read more about the solutions in the article published by PC Mag.

 

Electronic funds payment

If you want to receive your payment as fast and least expensive as possible, you should use the electronic funds’ transfer. With this payment method, the money is transferred directly from your client’s bank account to your bank account.

The greatest benefit for both parties is the fact that there are no fees. Also, there’s no hassle with paper documents, stamps, or any other nuisance that could waste your time. Apart from that, you can do the entire procedure from the comfort of your home.

A fly in the ointment here is the fact that it might take a few days if the sender and the receiver of this payment have accounts in different banks. In that case, there also might be some payment fees, but they may vary from bank to bank. Because of that, ask your bank officials about these potential fees.

Conclusion

Working in this day and age has many benefits, especially in the online community. Still, getting paid electronically includes some inconveniences, like fees and payment delays, which can make it difficult for you to get properly paid for your work.

That’s why it’s imperative to check the terms and conditions of the services you’re planning to use for payments. There are always some ways to reduce the fees, like the ones presented in this article, and make the most of your online work.

AuthorBio: Mark is a biz-dev hero at Invoicebus – a simple invoicing service that gets your invoices paid faster. He passionately blogs on topics that help small biz owners succeed in their business. He is also a lifelong learner who practices mindfulness and enjoys long walks in nature more than anything else.

Samsung Pay and PayPal United

Back in July 2017, Paypal announced its collaboration with Samsung Pay. Which allow consumers to use PayPal as a payment option. This partnership will provide PayPal users freedom to choose and money management.

But it is only today, PayPal made it happen by announcing that consumer can actually use PayPal within Samsung Pay
and make a purchase at the millions of retailers that accept Samsung Pay. Samsung Pay user can load their PayPal account with the debit card found in their PayPal wallet while earning Samsung Rewards points.

I think this a good news for people who actually make money online using PayPal. They can just use their money that they earn online without hassle to transfer it or cash out to a local bank.

With Samsung Pay works with both NFC and MST, you can swipe or tap a card. You don’t have to carry a lot of cash and easy to use.

How To create a PayPal top-up card within Samsung Pay :

On Samsung Pay home screen, Tap “+” symbol on upper right hand
Select “Add PayPal” in the “Add payment card section”
If you have One Touch enabled, the account will be provisioned. If not, you’ll need to input your account credentials.
Press “Next” and enter a pin for in-store purchases
Select a Debit or bank funding source to top-up the account
Press “Agree & Continue” and you’re all set!

PayPal guarantees that when a consumer uses a phone to pay in stores, it doesn’t send their actual payment
information to merchants. Instead, PayPal will use a virtual account number tokenization system that will represent
user account info.This will limit the information shared to a merchant and protect user privacy.

Samsung Pay is a unique and interesting virtual wallet available. This is because Samsung smartphone can interact
with a traditional magnetic stripe which makes it can be widely used. Samsung Pay also offers great security features such as biometric authentication, tokenization of payment credentials and Samsung’s Knox security platform.

Source: PayPal

Donation to Support Linux Mint Development

My first Linux OS is Ubuntu after accidentally install it using wubi. But my main Linux OS is none other than Linux Mint. Julia was my first, and now I am using Katya. (Linux Mint 11). I have to admit that my laptop is quite old(2009), so only Mint can offer me stability and compatibility.

Don’t get me wrong, I still use Ubuntu and its a great OS. But if you read Mint blog, I was so touched that they even display 1 dollar donor. This is to show that they are really thankful. That is why I decided to donate from my PayPal account. Its easy to donate from PayPal, just provide your PayPal email account and PayPal will do the rest. I do get some money from links selling on my blog, so a dollar or two to donation is not much.

My point here is that, if you like and use Linux Mint or other Linux OS, remember that you use it for free. The development team work hard for it. They have to pay for programmer, developer and hosting. Donate a dollar or more to them will help them to continue provide this great OS for free in the future.

So if you think you have some extra money to donate to them, just go to Linux Mint  and share some love. You will get a lovely banner to impress your friends like I did : ).

How To Buy Blackberry App Using PayPal

There are a lot free Blackberry App such as BBM, Facebook, Twitter and Yahoo Messenger. But still if you want to try premium blackberry app, there are a lot of them. You can buy it using your PayPal account. Just provide your username and password and they will charge your account. You can also buy using your card credit.But I do not recommend it.

You can search Top 25 paid Apps in Blackberry App World. But before you decided to buy it. Please read the reviews first. Is it worth it or not ? (more…)

How To Transfer Money from PayPal to Maybank account

This entry only can be made when I have enough money in my PayPal to withdraw.That is why it takes so LONG : )

Actually I promised to write entry on Cash Out money from PayPal to Maybank account more than a year ago. I have to wait until I have enough money to show you guys. Hehehe. Just kidding! I did transfer USD 50 to my Maybank account.  but totally forget to update about it.

First you must add local bank accounts (saving or current) to your PayPal account. Its easy if you follow the step. There are slightly different between cash out money from PayPal to Credit/Debit Card and to your Local Bank Account. (For my example here I use Maybank account).

1. Cheaper – Its cheaper to withdraw money to your local bank than your card. PayPal will charge you RM 20 if you use your card. If you transfer money to Bank Account more than RM 400 it will be FREE and RM 3 for less than RM 400.

2. Save Time 2-3 working days for Bank account and up to one week to transfer money to your card.

Conclusion : Save time and money to transfer money from PayPal to your local bank account. (more…)

Page 1 of 41234