If you’ve been looking for a sign to start selling your freelancing services globally, here is the sign. Indian freelancers have the unique opportunity to expand their client base and improve their earning potential by targeting international clients who pay better and in stable currencies like USD, EUR, and GBP.
The thought of managing international payments might be daunting for many Indian freelancers. Understandably so, receiving global payouts with traditional payment options has discouraged many Indian freelancers. From payment delays to account restrictions, cumbersome paperwork, forced conversion at unfair rates, and payment delays, you have a lot to worry about without the right payout options. This article explores the best payout options for Indian freelancers selling services globally to make sure you maximise your earnings.
Using a multi-currency account is a silver bullet that fixes the challenges with traditional banks when managing foreign income. Multi-currency accounts provide you with virtual bank details in major currencies (USD, EUR, GBP, etc.) that clients can pay into as if you had a local bank account in their country. Once funds arrive, you can hold them in those currencies and convert to INR when rates are favourable. With multicurrency accounts, you can avoid slow bank transfers and unfavourable forced conversions, and keep better control over exchange timing and fees. Here are the things you should look out for when managing payouts in India with multi-currency accounts:
There are some top choices:
Also read: How remote workers in India can switch from traditional banks to Grey
More indigenoushomegrown fintech solutions are emerging to simplify access to international banking for Indians.
Also read: How Indian remote workers manage multi-currency income
PayPal is one of the most widely recognised ways to receive international payments. Many international clients are already familiar with it and can easily pay in foreign currency to your PayPal account. You can then withdraw to your Indian bank account in INR.
However, PayPal is expensive. The fees and exchange rates are often higher than those of multi-currency accounts, and conversion to INR on withdrawal eats into your earnings. There’s also the risk of account holds or restrictions if PayPal flags unusual activity.
If you work through platforms such as Upwork, Fiverr, Toptal, or Freelancer.com, the platforms themselves provide payout options:
Most marketplaces let you withdraw earnings via:
These options are embedded in the platform itself and may be the simplest choice if you earn mostly through a single marketplace. Receiving your payout in a stable currency give your better control and helps you maximise your earnings, compared to withdrawing directly to your local account.
Crypto talks can be confusing most of the time. But for those who understand how it works, freelancers are now accepting payments in cryptocurrencies such as Bitcoin, Ethereum, and stablecoins (e.g., USDC, USDT) if the clients are comfortable with it. These can then be converted to INR through exchanges. ****Crypto transactions are typically faster and cheaper. ****However, you must be wary of crypto volatility if you are not opting for stablecoins. You might also need to find how tax and compliance apply in India
Also read: How to send and receive USDC as an Indian freelancer
Indian freelancers selling services globally have never had more options. While we are generally moving away from traditional banks, fintech solutions now offer better options for managing international payouts. So, if managing payment was going to be a problem, Grey’s got you. Manage USD, GBP, and EUR payments on one platform at low transaction fees and withdraw INR to your local account at competitive exchange rates and without payment delays. Grey cards make online payments on global platforms seamless for freelancers.
Get started today on Grey and download the mobile app to manage your international payouts without breaking a sweat.
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