Knowing how to pay freelancers overseas can feel like navigating a maze. Especially in today’s global marketplace, where talent knows no border – literally! These days, you can hire someone from Australia and make a freelancer payment while traveling through Rome. While this eliminates challenges like placing newspaper help-wanted ads or mailing checks, another challenge is differentiating payment options for freelancers and cross-border hassles.
At Voice123 – where you’ll find talented voice actors from around the world – we understand the need to hire and pay freelancers worldwide. So here we’ll explore how to pay freelancers overseas, the different payment options for freelancers, and the most efficient freelance payment systems.
It’s time to embrace the freelance revolution!
What are freelancers?
Freelancers are skilled, independent professionals who work remotely for companies on a project-by-project basis and are typically self-employed. This allows them to set their schedules and handle multiple clients simultaneously. Freelance industries include writing, graphic design, software development, consulting, and voice over work. Freelancer payment works on a charge per hour or project, sometimes requiring upfront deposits before starting a project, with the remaining balance paid upon project completion. When paying freelancers, it’s important to be aware of the tax implications and collect relevant tax forms like W8/W9s for each voice actor you work with.
Here’s more on how to pay freelancers overseas.
Payment options for freelancers
1. Bank transfers
Pros: Bank transfers are considered reliable and are a widely accepted freelancer payment option for large transactions.
Cons: They have high exchange rate markups for out-of-country currencies with longer processing times of 5-7 business days.
They suit large-scale businesses, offering security for large transfers.
2. PayPal
Pros: PayPal is available in over 200 countries with buyer/seller protection and instant transactions.
Cons: There are high fixed fees and exchange rate markups, and funds can be frozen if there are issues.
Its payment options are for freelancers in creative industries like design, writing, or web development.
3. Wise
Pros: Wise offers low fees, transparent exchange rates, fast transfers, and local bank details in multiple countries.
Cons: Wise is limited to specific regions, and the fees vary depending on the type of currency and amount.
Its payment options are for freelancers with international clients receiving payments in multiple currencies.
4. Payoneer
Pros: Payoneer is a global freelancer payment system with multiple withdrawal options and lower fees than banks.
Cons: There are withdrawal and currency conversion fees, and it’s not available in all countries.
Freelancers use them in regions where PayPal or bank transfers are not accessible.
5. International money orders
Pros: Money orders are a secure method for smaller transactions without needing a bank account.
Cons: There are slow processing times, fees accumulate, and it’s unsuitable for large amounts.
It’s a freelance payment system for those without access to digital banking or online payment platforms.
How to pay freelancers overseas with freelance payment systems
1. How to pay freelancers overseas with PayPal
- ‘Sign up’ for a personal or business account on the website or app
- Enter your personal info and ‘Link a card or bank.’
- Enter the freelancer’s email address or phone number under ‘Send & Request’ to transfer funds.
- Enter the amount and currency and click ‘Send Money Now.
Some PayPal transactions offer buyer/seller protection and two-factor authentication.
2. How to pay freelancers overseas with Venmo
- Sign up on the app for an account with your email address, phone number, or Facebook info.
- Link your bank account or debit card.
- Tap on the “Pay or Request” button.
- Enter the recipient’s username, phone number, or email address.
- Enter the amount you want to send, add an optional note, and tap ‘Pay’ to complete.
Venmo lets users set up a PIN code or biometric authentication.
3. How to pay freelancers overseas with Payoneer
- ‘Sign Up’ to an individual or business account
- Under ‘Settings,’ select ‘Bank Accounts’ and enter your bank details.
- Payoneer will verify your bank account within a few business days.
- Select ‘Withdraw’ from the dashboard, enter an amount, and follow the prompts.
Payoneer is a freelance payment system with SSL encryption for transaction security.
4. How to pay freelancers overseas with Wise
- ‘Sign Up‘ for a personal or business account.
- Enter your information and verify your identity with your government ID.
- Click ‘Balances’ and ‘Add Money.
- Choose from bank transfers, debit cards, etc.) and follow the prompts to add funds to your Wise account.
- Click ‘Send Money‘ and enter the recipient’s bank account, amount, and currency.
Wise has bank-level security to protect transactions.
How to pay voice actors internationally through Voice123
On Voice123, you can pay voice actors with payment options like credit cards, bank transfers, or PayPal – whichever option works best for you and the voice actor. Or use the Voice123 Secure Payment service, which acts as a bond for your transaction, ensuring security and transparency. Voice123 manages the entire transaction process. A small service fee is added to the final negotiated amount between you and the voice actor. This fee varies based on the budget of your booking and your past usage of the secure payment service. Voice123 releases the funds to the voice actor only once you’re satisfied with the final recording, ensuring fair payment for the work done.
When using the Voice123 secure payment service, you can pay the voice actor using any available method that works for you. Voice123 will handle the method used to pay the voice actor, optimizing the payment and payout methods for you and the voice actor. Another benefit of using the secure payment service is that you don’t need to worry about taxes regarding U.S. voice actors. For all payments that go through secure payment, Voice123 determines the tax legibility and distributes 1099s accordingly.
Ready to hire a pro? Browse the talent on Voice123 and experience the convenience of our secure payment service.
Final thoughts
Choosing the right freelancer payment method involves fees, processing speed, and security. Whether you opt for traditional bank transfers, digital platforms like PayPal, or specialized services like Voice123’s Secure Payment, prioritize transparency and reliability. This guarantees smooth transactions and maintains positive working relationships with freelancers around the globe.
Now that you have a breakdown of how to pay freelancers overseas, hire voice over pros on Voice123 for your next project. Or use our full-scale Managed Services to oversee your project from hiring to payment.
Stay agile and ahead in your voice over projects with Voice123!
FAQs
You can use online payment platforms like PayPal, TransferWise, or wire transfers through banks.
Yes, they can do it with an internet connection, but legal and tax considerations vary depending on the country.
It depends on location, client preference, and transaction fees. Common options are PayPal, direct bank transfers, or Payoneer.
They do, but it depends on the country and its tax laws. Consult with a tax professional to ensure compliance.