For those who have missed my earlier blog, here is the link – PayPal Alternative: 2checkout.com – An Awesome Option. I would like to inform them that with the internet, the world has come to our doorsteps. We can deal with clients from all over the world. However, if there are any countries where PayPal is non-functioning, there are other best payment alternatives, which one should look into.
Payoneer is an awesome PayPal alternative. Payoneer gives its users a MasterCard through which one can withdraw funds at any ATM anywhere in the world. You can use it to make online payments. Payoneer is used by all major platforms online. Most big clients use Payoneer. It is one of the Best Payment Alternatives to PayPal.
With Payoneer, you also have another option. A popular bank transfer service from the US is the ACH transfer. You need to request Payoneer to enable the service of ACH transfer for your account. The only drawback of this option is that this service functions only in the US. However, most US clients use this service to transfer funds, and if you are based in the US and have US clients, this is one of the Best Payment Alternatives options.
Once you are activated for the ACH transfer, Payoneer will give you an account number that you give to your clients. You will receive payments directly into your Payoneer account. Even Amazon and other major online services paying through ACH can send you payments through Payoneer.
Let us now see how to use Payoneer. It is a very simple Payment Alternative.
- Go to Payoneer and register yourself at the site. Registration for Payoneer is free.
- Give your Payoneer account number to your clients.
- You are ready to receive payments through Payoneer.
Some more facts about Payoneer. For a nominal fee, some clients can transfer the funds directly to your bank account through Payoneer. This option is not available for all clients. However, you can check with your client if the option is available or not.
Most of the freelance bidding sites need to open an account with them and they pay only through their own portal. Upwork is similar to 2Checkout. You have to create an invoice for the client and the client pays you for the same. This site allows you to withdraw 90% of the funds to your bank account. This is not a good option, but these are the Best Payment Alternatives when there are no other options.
- Bank/Wire Transfer
For large amounts, higher than $2,000 and above, Bank transfer or Wire transfer are the Best Payment Alternatives options. This is so because otherwise, with any other payment, there will be high commission charges. With around 10% of commissions, you will have to shell out large amounts of commission, which can be eliminated if you use bank or wire transfers. Bank transfers or Wire transfers can be received anywhere around the world.
However, it would not be economical for small payments, where the commission charged by the banks would be higher. This is so because banks have a minimum amount as commission charge that is irrespective of the amount transferred. You only need to provide the Name of your Bank, your Account Number, and the IFSC code number of the bank to your client.
The transfer is in real time, and you get the funds transferred within no time. Once the client transfers the funds, he informs you via a message. As the funds are transferred, your Bank will inform you of the funds received and you can confirm the receipt of the funds to your client.
Before concluding, I would like to add that E-Wallets are becoming very common nowadays. Two such sites where you can transfer funds, make payments and receive payments are mentioned here. These two more payment options are included in these Best Payment Alternatives to PayPal. They are Payza and Skrill. You can send or receive funds through these online service portals. You can pay through Payza and Skrill after shopping online. One can use Payza and Skrill for personal as well as business purposes. Kindly go through the fees and other terms and conditions on the sites of Payza and Skrill.
To conclude, I would like to write that PayPal is one of the Best Payment Alternatives options for small payments and Bank and Wire transfers are best for large payments. The commissions charged are the minimum for both PayPal, which is economical for small payments. As said earlier, Bank and Wire transfers are economical for large payments. Where PayPal is not available, one has to explain to the client and convince him to make the payments through some other means as explained in this article.
For the Best Payment Alternatives to PayPal, these are the best available options. If any of the readers have other options available, feel free to inform me and I will gladly add that to the list.