Recently I write a lot about how a freelancer can make his professional life simpler or what can be done to be more productive. So far, I’ve written three posts:
Today is the time for the freelancers money. As a freelancer, we often get money from around the world and in different currencies. What we can do to lose as little as possible? I will try to introduce you to a few scenarios, and some of them are not so obvious and simple.
Freelancers money from Upwork
I do not have to present Upwork platform again to you. I already did it a few times. For example I mentioned it on the occasion of the entry about how to become a freelancer. We managed and earn our first money as a freelancer. How do you get them now? It would seem that the simplest method is to transfer money from Upwork account to your bank account. Well, the method can actually be very simple, but not necessarily the most profitable one. Do you know that you lose a few cents on one dollar on each transfer? Using PayPal is even worse … The best option is completely different …
The first step is to get a Payoneer account.
By the way. If you click on the above image and create an account on Payoneer from my affiliate link, you will receive $ 25 after receiving $ 1000.
Well, we have an account, so it’s time to order account card. Of course, you can transfer money directly to your bank account, but again it is not worth it! You lose maybe less than with Upwork, but what if you can get more?
What’s important, the card you set up must be USD! This is very important!
It’s time for Revolut
When it comes to freelancers money, but not only, Revolut is MUST HAVE … :). Revolut is a prepaid card and application used by 4.5 million customers throughout Europe and Australia, which saves on fees when issuing and sending money abroad. I will tell you so. As a client, I just love Revolut. The ease and pleasure of the services are amazing. Personally, I have a premium account for at least three reasons:
- I am paranoid when it comes to internet security 🙂 and in the premium plan I can generate one-off payment cards that are destroyed after use
- I have free insurance when traveling abroad
- Bigger withdrawal limits than in the free account
And if someone turns it on, you can play in the crypt of currency. How do I get a free Revolut card? You can use my link below. If you do not see it, please unlock my site in Adblock :).
How do I add a Payoneer card to my Revolut account?
Well, we have all the gadgets. We launch the Revolut application on your phone. Then we need to add a USD account. And finally, we pin the Payoneer card to USD account and use it to add funds the dollar account. ATTENTION!
Revolut can suggest you add founds in the British pound because that’s how he recognizes Payoneer card. You must choose the option of continuing to top up in USD! If you choose GBP, there will be a de-duplicate currency conversion and all business will lose its meaning.
Now that you have money on your dollar account, you can convert it to your currency. I was trying different services which are available to me, but I didn’t find a better conversion rates than on Revolut. If you found something better please share it in comments!
It is worth mentioning one more option that Revolut has. Well, you can set automatic currency conversion. It works in such a way that you set the minimum or maximum rate at which you want to sell dollars. This works more or less on the basis of a stop-loss principle on the stock market. This is useful when you do not want to get rid of the currency, and on the other hand, you do not want to lose when the rate drops.
Is it profitable for Freelancers money?
From my experience, it is at the moment the most cost-effective way to withdraw money from Upwork! But I will say more.
Freelancers money is not just about Upwork withdrawals. A lot of us work directly with clients and for me, Payonner and especially Revolut is the best combination. Remember that if you have an account on Revolut, you also get the account number. Another note. Accept payments in the currency in which the customer pays you! Fintech supports dozens of currencies and there is no reason to lose on double currency conversions!
If you think that there are another good solutions here please share it in comments.