With the post-pandemic world forcing more people into working from home, many people have quit corporate life and become full-time freelancers.
The advantages of being a freelancer are similar to being self-employed. For the most part, you can set your own hours, so long as your deadlines are met. You also get to choose the clients you work with and the projects that you decide to take on. If you’re lucky enough to work entirely online or remotely, you can be based anywhere in the world.
One thing that can be tricky for freelancers is how to receive their payments, especially if they live abroad or their customers are all around the globe. The first step to getting paid is making an invoice, and using templates can help. From graphic designer invoice templates to professional invoices for legal retainers, Invoice Ninja has it all.
But first, let’s talk a bit more about getting paid.
Online Payment Providers
One of the great things about online payment providers is how easy they make it to send and receive money. Popular providers like PayPal can send money instantaneously from nearly anywhere in the world.
One downside of online providers like PayPal is the fees they collect. While three to five percent may not seem like much, when you start sending large sums of money, that can quickly add up to hundreds or even thousands of dollars annually.
The other downside of the online providers is that, generally, the money is only held within their ecosystem. If you want to get money out, you either have to apply for a bank card connected to your PayPal account or transfer it to your bank manually.
Bank Transfers Within the U.S. and Elsewhere
Freelancers with a United States bank account can send and receive money through automated clearing house systems (ACH) and wire transfers. While the ACH system is outdated and slow, it’s often fee-free, and the money is directly deposited into your bank account, though it often takes two to four business days for the funds to be cleared.
Wire transfers are the instantaneous option for bank-to-bank transfers, and they can be used internationally. The only downside is wire transfers usually come with a fee, typically around $20 or a percentage of the transferred amount. However, when you need money immediately in an account that can be withdrawn into cash, wire transfers are a great way to send money between bank accounts.
Services like Stripe, Square, Apple Pay, and others are essentially acting as servicers to process credit card payments. These third-party providers offer a super convenient way for your customers to pay with the credit cards they already use every day.
Additionally, these providers typically deposit the funds directly into your bank account. This makes getting your money out as easy as possible and doesn’t require additional steps to move the money from one account to another since it’s already connected to your bank account.
Choose Your Favorite Payment Platform With Invoice Ninja
Invoice Ninja offers all of the above payment options and many more for your customers to pay your invoices. Simply sign up with Invoice Ninja, and you’ll have access to our suite of templates that makes it easy to format an invoice, with additional templates for our Pro and Enterprise users.
Upload your company information and logo, and start creating beautiful invoices right away. Send an invoice to your customers, and with a single click they can pay the invoice using any of the payment providers we offer.
Once an invoice is paid, you’ll get notified right away, so you’ll never have to wonder about the status of your outstanding invoices. You also won’t have to worry about things like how long a contractor has to submit an invoice, because you’ll be submitting invoices to your clients in seconds, rather than having to spend hours constructing one.
In a Nutshell
Freelancing can be very liberating, but it also means you’re in charge of your bills coming in and out. Let Invoice Ninja help you, so you can focus on your freedom!