How to Pay Freelancers Overseas

The restrictions imposed worldwide during the beginning of the pandemic have limited the physical movement of people worldwide. However, it has also opened the doors for different people to pursue job opportunities abroad as freelancers in a remote work set-up while staying safely indoors. Working as a freelancer for an overseas-based company such as those in Canada allows these freelancers to earn more since the Canadian dollar is one of the strong currencies worldwide.

According to data, the pandemic and remote work has influenced about 53 percent of businesses have increased their willingness to hire freelancers. Companies and businesses also have different reasons for hiring freelancers overseas. The following are some of them:

• A remote employee may be cost-effective.
• There might be a skills shortage in your country that a freelancer overseas has.
• You want your company to be culturally diverse, primarily if your business or brand caters to a worldwide audience.

A recent study predicts that the freelance workforce could increase by 10 million. It is inevitable then for companies worldwide to at least try sourcing out freelancers to contribute to their company's goals. After all, no one wants to miss out on a share of professionals that can significantly impact the operation of a company.

Different Ways of Paying Your Freelance Employees Abroad

If you have already hired or planning to hire a freelancer based overseas to work for your company remotely, this article will help you determine the best and hassle-free way of paying your freelancers overseas.

Bank-to-Bank Transfer

Depending on your business' size and budget, you can consider opening a business bank account to make sure that your personal funds won’t be mixed with the inflow and outflow of money that circulate your business.

You can use your business bank account to transfer payment to the bank account of your freelance employee. While this is safe, the only downside is that overseas bank transfers are slow and expensive. Your freelancer most of the time would need to wait for up to a week for your payment to arrive in their account.

Exchange rates in banks are also 10 to 15 percent less competitive than actual mid-market rates.

Credit Card Payment

Another option is to pay your freelancer using your credit card via mobile apps such as PayPal, Skrill, or QuickBooks. While this also allows you to pay your freelancer in just a few clicks, this option may be expensive, especially for large payments. These apps usually charge a fee for receiving payments unless you, as the employer, choose to pay for it. Aside from the receiving fee, you may also have to pay for the currency conversion rate, which is lower than the actual mid-market rates.

Freelance Platform Payment Option

Another option to pay your freelancer is using the freelance platform where you hire them, such as Upwork and Fiverr. These sites are perfect virtual spaces where companies and freelancers meet. Because of this convenience, these platforms charge their freelancer up to 15 to 20 percent of their fees. It is no wonder why some freelancers quote their hourly rate higher for work.

RemitBee Online Money Transfer Service

If you are looking for the best way to pay your freelancer overseas, RemitBee is the best partner you can rely on. They offer a fast and secure way of sending money to your freelancers abroad with competitive currency exchange and affordable transfer fees.

The higher the money you send abroad using RemitBee, you save money. If you send $500 and up, your transfer fee will be waived! Undeniably, they provide the best option for you and your freelancer.

Realistically speaking, not all freelancers, especially those who just started or were recently employed, does not have a bank account or a mobile bank. If this is the case for your freelancer, you can still send your payment to them through RemitBee as they offer cash pick-up options in selected countries.

How to Pay Freelancers Abroad Through RemitBee

The people behind RemitBee know how important time is, so they ensure that the sending money process is fast and easy to follow. Here are the simple steps of sending money through RemitBee:

Download and sign up at the RemitBee App.

Verify your identity.

Add your recipient. Include their name, contact number, bank account details, or pick-up and delivery options for the money transfer. Make sure that all of these details are correct.

Choose a payment method.

The easiest way is to load your RemitBee Wallet from your bank account. You can also use transfer payment options such as Visa Debit, Mastercard, or Interac E-transfer.

View the up-to-date exchange rate and confirm

Remember, when you send $500 and above, your transfer fee is free. There are no hidden charges after your transfer.

Once you have sent money, it will take only 5 minutes to roughly a day before the money reaches your freelancer. You can send the transfer details to your freelancer so they can use it to keep track of your remittance or use it when picking up the payment from cash pick-up locations.

Send money from Canada to over 40 countries worldwide using RemitBee and experience for yourself the best transfer service we provide. For sure, your freelancer will love RemitBee’s service too.

Sign up today