Freelancing: How to Receive Money From Abroad

For people who just don’t fit in within the traditional office environment, freelancing is a fantastic way to support their lifestyle. The flexibility, freedom, and creativity make it an exciting opportunity to work with companies worldwide.

Many freelancers often complain about not being able to find a reliable service to help them receive money from abroad. Many banks charge high fees, while others offer unfair exchange rates. If you face a similar problem, our solutions below can help you receive money from abroad.

PayPal

While PayPal is an established payment method for online shopping, you can also use it to receive money from abroad. All you have to do is create a PayPal account and then provide the email to your client to send you the payment. The email address works as an account number.

Despite the easy, instantaneous transfer process, there are certain downsides to utilizing PayPal. Many freelancers struggle with the unfair exchange rates PayPal imposes on many currencies. Moreover, both sides of the transaction have to pay 4% of the transfer amount, plus a $0.30 fee for the sender.

Also, while PayPal is usually known for fast transfers, a slight suspicion over personal or financial information may cause them to freeze an account and hold the funds for up to 21 days.

Wise

Wise is an international payment specialist. People from all over the world use Wise to receive money from abroad in numerous currencies. You can open separate accounts for every currency while receiving a sensible exchange rate. In addition to receiving money online, you can get a bank card and spend your money directly.

However, Wise charges relatively high transfer fees that are even higher if you use a credit/debit card for the transaction. Also, if you reside in exotic countries such as Benin, Pakistan, or Nigeria, your transaction will surely come with added fees.

Lycaremit

Lycaremit is one of the few providers with an established presence in both major and minor destinations. In addition to providing sensible exchange rates and competitive fees, Lycaremit users get a  £5 credit bonus for every transaction above £300.

With Lycaremit, you can receive money from abroad in two days or less, no matter the country. Lycamerit uses the RSA 256-bit encryption for every transfer. In addition, it provides customer support every hour of the day, even during weekends and holidays.

Bottom Line

Freelancing is a perfect career path for people who don’t want to be chained to a cubicle and look for exciting domestic and international opportunities. But when working with clients in foreign countries, you need to get the best deal on fees and rates.

While you have access to many remittance options right now, you should conduct some careful research to find the one that charges competitive, transparent fees, offers mid-market exchange rates, and provides a shorter turnaround time. Fortunately, you don’t need to look very far as Lycaremit exactly fits such a description. You can register right now, and let us show you how easy it is to receive money from abroad.

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