One of the most crucial components freelancers worry about is getting paid. With the right apps, you’re not able to ensure that your clients pay on time, but you’re also able to better manage your funds.
If you work as a freelancer, you undoubtedly work hard to guarantee client satisfaction. You’re available for meetings and tasks while also ensuring on-time delivery. When it’s time to get paid, you need the money in your account as soon as possible to pay your own bills.
The easier you can make it for your clients to pay those bills, the sooner you’ll see it. I’ve found that having the appropriate apps can make all the difference. Therefore, I’ve compiled a list of apps that will help you in invoicing, collecting payments, and tracking your money so you can focus on growing your freelance business.
Overview of the best payment apps for freelancers
Whether you have your own website or freelance on job boards like Upwork, Fiverr, and PeoplePerHour, choosing an appropriate payment app is almost as crucial as finding a job.
Read on to find the best payment apps as a freelancer.
#1 PayPal
PayPal is undoubtedly the most well-known payment platform among freelancers. It enables you to receive money worldwide, send cash over the internet, and buy stuff. It’s secure, simple to use, and well-protected. You don’t need a bank account to open a PayPal account or receive payments. However, you’ve got to link your bank account to withdraw your money. PayPal requires your phone number, name, email address, and acceptable identification. Start here to create a PayPal account and start receiving money from anyone.
PayPal allows you to withdraw as little as $1 and doesn’t impose any withdrawal limits on accounts that have been verified. On the other hand, unverified accounts have a monthly withdrawal limit of $500.
There’s also a tiny fee for transactions on PayPal that’s remitted to PayPal. The main disadvantage of PayPal is that it doesn’t provide its services to all countries. Check if PayPal supports your country before selecting it as your payment app.
#2 Payoneer
Created in 2005, Payoneer is the second most popular payment app for both freelancers and businesses. Payoneer is a safe and secure payment network that lets you receive global payments, move money worldwide, and withdraw with the push of a button. To open a Payoneer account, you need an email address, a phone number, and proper identification.
It has a fantastic user experience that freelancers adore because it’s simple to navigate. Payoneer charges a $3 fee on each transaction. It establishes a $50 minimum withdrawal limit and a $100,000 monthly maximum restriction. It serves over 150 countries, so check if Payoneer services your country before deciding on it as your chosen payment app.
#3 Stripe
Stripe is an online payment platform that provides financial services to businesses and organizations of all sizes. Its most enticing feature is its simple API (application programming interface) integration for small and large corporate websites. Even though Stripe is primarily designed to provide solutions to businesses, it also offers services to individuals.
The service is used for transactions by a large number of businesses and freelancers. The sole drawback of Stripe is that you must have a physical bank account in order to create an account on their site, in addition to your email, address, and necessary documentation.
Stripe is currently only available in 46 countries, so please check if it’s available in your country before using it.
#4 Escrow
Escrow is perhaps one of the most secure online payment solutions. It’s a third-party platform used to transfer and receive money between buyers and sellers as well as handle transactions.
When a freelancer and their client agree on a contract or agreement, the client pays Escrow. When the freelancer has finished the work and the client has approved it, Escrow releases the funds to the seller.
Note: UpWork uses Escrow’s services as its payment method.
#5 Skrill
Skrill is a digital wallet and financial service provider that operates online. You may receive, send, and store money in 40 different currencies. Skrill is popular among freelancers thanks to its low fees and prompt customer care.
Unlike PayPal and other payment services, Skrill’s debit card is available to all users, not only those in the United States or the United Kingdom.
All you need to open a Skrill account is your email address, physical address, phone number, and a $5 deposit.
