7 best PayPal alternatives for freelancers
Skrill for freelancers
Skrill is considered a top alternative to PayPal for receiving online payments. This is because it currently has over 120,000 users worldwide.
To receive online payments, all you need is an e-mail address and a bank account. The platform is a wonderful option for those delivering services internationally because it offers a variety of methods to online sellers with over 100 local payment methods and 170 direct bank transfer connections. There are several pros and cons to Skrill.
Pros to Skrill
• Domestic money transfers between Skrill accounts are free. International transfers between Skrill accounts, however, have a 5% fee.
• Freelancers can fund their accounts almost instantly through Paysafecard, Rapid Transfer, debit card, and credit card payments.
• Freelancers have the option of receiving payments almost instantly through multiple currencies as well as making faster withdrawals.
• Skrill offers its users safe and secure transactions and also demands its users secure their accounts through two-factor authentication.
• Skrill is available for use across multiple browsers and on either Android or iOS, making it easier to send invoices while on the move.
Payoneer for freelancers
Payoneer offers freelancers the ability to receive online payments from global clients. The platform also allows users to send invoices and receive payments in multiple currencies. There are a few pros and cons to Payoneer.
Pros to Payoneer
• Payoneer offers a broad range of payment options. They have a 3% fee on credit card payments and 1% on ACH direct deposit (US only).
• Freelancers will receive payments in 1 to 2 days.
• Payoneer supports 150 local currencies.
Wise for freelancers
Wise (formerly known as TransferWise) is an online payment platform that allows freelancers to get paid internationally and almost instantly. Be aware of the following pros and cons to Wise.
Pros to Wise
• Wise supports multiple currencies and makes it easy to receive money through different payment options.
• You can receive a Wise card to make withdrawals at ATMs in most countries.
• The website and app are user-friendly. They have a walkthrough tutorial that eases up the sign-up process. It protects user data through a two-step login process.
Venmo for freelancers
Venmo is one way you can receive online payments from clients. It is well known for its social features like making transactions public and receiving money with personalized notes and emojis. There are several Venmo pros and cons.
Pros to Venmo
• Freelancers can connect their bank account, and credit and debit card information to their Venmo digital wallet.
• A Venmo account can also hold multiple accounts and cards.
• No fees are charged for receiving payments and transfers to your bank account are free.
• The Venmo app is user-friendly making it convenient to send requests and track transactions.
• You can connect your bank account, debit, and credit card to the Venmo digital account and transfer to your bank account for free.
Square for freelancers
Square is considered one of the best PayPal alternatives for freelancers because of its ease of use and security customization options. There are some pros and cons to Square.
Pros to Square
• Freelancers can customize their Square accounts to match their business needs.
• Square supports sending invoices.
• Square doesn’t charge for worldwide transactions, unlike PayPal which charges an extra 1.5%.
Stripe for freelancers
Stripe is used in more than 100 countries, supporting over 120 currencies. There are several pros and cons to Stripe.
Pros to Stripe
• Stripe has a live chat feature for responding to customers’ queries as well as a blog.
• Unlike PayPal, Stripe offers 24/7 phone support.
• Stripe has a simple setup process. All you need is the correct documentation.
• Stripe supports many payment options including credit and debits, bank transfers, and various local payment methods.
Shopify Payments for freelancers
Shopify Payments works for freelancers who sell services as products on an e-commerce site. They are a good PayPal alternative because they provide services in web design, inventory management, and customer service for your site. Here’s some pros and cons to Shopify Payments.
Pros to Shopify Payments
• Shopify Payments has an easy setup process and accepts payments from major credit and debit cards.
• The longest a transaction can take is two business days. Bank deposits can take between 24 to 72 hours to process deposits.
• They offer 24/7 customer support to their users