Best ways freelancers get paid internationally

As freelancing continues to blur international borders, with many remote workers serving global clients, a lingering challenge is managing international payments without delays, high fees, and forced conversions at unfair rates.

In this article, we explore what you should look at when considering your payment options, and the best ways freelancers get paid internationally.

Challenges freelancers face with international payments

Here are some of the hassles you are likely to face as a freelancer with foreign clients managing international payments.

• High and hidden fees: Banks and platforms take significant cuts through transaction fees, conversion markups, and withdrawal charges. Hidden fees and complex banking commissions add unexpected costs. These can take a significant chunk of your earnings.
• Unfavourable exchange rates: Between the unstable value of local currencies and hidden conversion markups, many freelancers end up receiving less than expected.
• Cash flow disruption: When payment processing takes days to weeks, budgeting and financial planning might be very difficult. This disruption and unpredictable cash flow leave many freelancers stranded.
• Platform restrictions: Popular payment platforms such as PayPal and Payoneer aren't supported in all countries or offer limited options. Many users in certain countries face account restrictions and freezes that can delay access to their funds or result in their total loss. Some other payment platforms can’t integrate seamlessly with global freelancing platforms like Upwork and Fiverr, making it very difficult to withdraw earnings.
• Bank limitations: Traditional banks may not support receiving specific foreign currencies or have complex setup processes. This then becomes a headache for freelancers, as clients often pay in multiple currencies, including EUR, USD, and GBP.

Also read: Freelancer's guide to handling currency fluctuations

Best ways freelancers get paid internationally

Freelancers have several efficient options for receiving international payments, ranging from specialised fintech accounts to traditional bank transfers. The best method typically depends on your priority.

Bank transfers (SWIFT and international wire)

Traditional bank transfers remain widely used, particularly among large companies and long-term clients. Payments are usually sent via the SWIFT network directly into your local bank account.

While this method feels “official” and is trusted by corporations, it is often the most expensive and slowest option for freelancers. Fees are charged on both ends. Intermediary banks may take their cut, posing unexpected charges. Funds usually take several days to arrive. Exchange rates offered by local banks are also rarely favourable.

International bank transfers work best if you are billing high-value invoices or working with companies that insist on traditional banking channels.

Digital payment platforms

Digital payment platforms are now popular because they are easy to set up and widely recognised by international clients. They allow you to receive payments quickly and withdraw funds to your local bank. The downside is cost. Platform fees, withdrawal fees, and currency conversion mark-ups can significantly reduce your take-home pay. Some freelancers also face account freezes or sudden compliance reviews, which can disrupt cash flow. These platforms are useful for short-term projects, one-off clients, or marketplaces, but less ideal for long-term payments because fees can pile up.

• Payoneer: Tailored for freelancers on platforms like Fiverr or Upwork. While it integrates seamlessly with payment platforms, users risk restrictions and high fees.
• PayPal: Has been around for a very long time and is now trusted by most clients and freelancers, offering instant international transfers. You can withdraw funds from your PayPal account to your personal accounts. However, high fees and restrictions in some countries are major challenges.

Also read: How to receive USD payments on PayPal in countries with currency restrictions

Multi-currency accounts

For many global freelancers, multi-currency accounts have become the most efficient way to get paid internationally. These accounts allow you to receive payments in major currencies such as USD, GBP, and EUR using local bank details, even if you live elsewhere.

Instead of forcing immediate conversion to your local currency, you can hold funds in foreign currency, convert when rates are favourable, and pay for international tools or subscriptions directly. This reduces unnecessary losses and gives you more control over cash flow.

Multi-currency accounts are especially useful for freelancers working with clients in the US, Europe, or the UK, as well as for those who consistently earn in foreign currencies.

• Grey: Provides virtual USD, GBP, and EUR accounts specifically designed for modern freelancers. It offers low fees, competitive exchange rates, and swift withdrawals to your local banks. Grey also features an invoicing tool and a virtual USD debit card.
• Wise: Offers local account details for various currencies, and uses the mid-market exchange rate with transparent, low fees.

Also read: Receiving international freelance payments: Wise vs Grey vs Payoneer

Crypto and stablecoins

Some freelancers are now getting paid using stablecoins such as USDT or USDC, particularly when working with tech or Web3 companies. Payments are fast and avoid the problems of traditional banking. That said, crypto payments come with regulatory uncertainty, learning curves, and conversion challenges. Payment solutions like Grey can also support USDC transactions, enable in-app conversion to USD, and withdrawal to local bank accounts.

What matters most when choosing a payment method

The best payment option depends on three factors: how often you are paid, which currencies you earn, and how you spend your money. Freelancers paid monthly by international clients benefit most from low fees, predictable timing, and currency flexibility. Those doing occasional gigs may prioritise speed and convenience instead. Also, control matters. The more control you have over when and how you convert money, the more of your income you keep. You should also be mindful of the safety of your finances and data. Prioritise payment platforms that offer multiple layers of security, including 2FA and strong encryption.

A smarter way to manage global freelance income

Managing international payments as a freelancer can be a walk in the park when you opt for a reliable solution tailored to freelancers. Grey provides freelancers with multi-currency accounts in USD, GBP, and EUR. You can receive international payments, hold multiple currencies, convert at competitive rates, and withdraw to your local bank when you need to. Grey also integrates seamlessly with global freelancing platforms like Upwork and Fiverr, so you can access your earnings without delay. With Grey, you don’t just get a payment platform; you also get invoice automation and a virtual USD debit card for efficient online payments.

Get started with Grey today or download the mobile app to manage your global freelance income the smarter way.

‍