Six Ways to Pay and Deposit Money When You Work Remotely - liveandloveoutloud.com

Six Ways to Pay and Deposit Money When You Work Remotely

There are still plenty of traditional jobs out there that will hand you a check every other Friday, but the world is changing fast. It’s a lot easier than it has ever been before to work remotely, which means people all over the world are getting creative about how they pay and deposit money.

It doesn’t matter if you’re in computer programming, writing, or customer service, every person who works remotely needs to know about these six ways to pay and deposit money.

Money Transfers

One of the most tried and true methods of sending money overseas is by transferring it with a money transfer service. You can use a bank account, but this method is an appealing option because a bank account is not needed.

For example, using Remitly, you can quickly and easily send money to a virtual assistant in the Philippines. Or, a company in the Philippines who has outsourced their writing department could send money quickly to writers in the United States.

By using this money transfer service, you always know where your money is, you can cancel the transfer at any time, and you can save big on fees that are commonplace with some other money sending services.

PayPal

If you complete reoccurring work for a client, and you have set up a professional operation, it’s a good idea to start a PayPal account.

There are a lot of things you can do with PayPal that include:

  • Send and track invoices sent to clients
  • Send and receive money from other people with a PayPal account
  • Make secure purchases online

Using an online service makes keeping track of payments easy, especially when tax time rolls around. You can also use your PayPal account to make secure purchases online, so having money sent to your account means having a little extra spending cash.

Direct Deposit

There’s no doubt that the easiest way to get paid is by direct deposit. However, this method is a bit more difficult if you’re working with a client or customer halfway around the world.

If you do all of your work online as an employer, you may want to work with a cloud-based payroll service that uses direct deposit information from your employees and deposits the funds into their bank accounts without any fees. However, many of these services are regional, so they may not be an option if you have employees scattered all over the globe.

Trading Services

Back before money made the world go round, it was all about trading and bartering. This is still a reliable way of getting what you need. Instead of exchanging money back and forth, you simply trade services.

For example, a content writer could create content for a website developer and in turn, they could create a professional website for the writer.

Goods can work just as well as services. A virtual assistant for a clothing company could work part time and be paid with the latest fashion trends.

The challenge is finding a client or employee who is willing to make such a trade. If you do, it can definitely simplify the process of paying and getting paid.

Payroll Cards

Most people don’t use cash anymore, and they don’t use checks from their bank account. Instead, they use plastic. So, instead of transferring funds into a bank account, you may want to consider a payroll card instead.

All the employer has to do is issue the payroll card. Then, every time they need to pay an employee, they simply reload the card. It’s the fastest way to make sure your employee gets their money, because funds are usually available right away. Employees don’t have to worry about additional fees, and you can use the card anywhere to buy anything.

The Old-Fashioned Way

Of course, the old-fashioned way works too, even if it is the least efficient method of sending and receiving money.

It’s never a good idea to put cash in an envelope, but you can always send paper checks to your employees, as long as they don’t mind waiting days or weeks to receive the funds. The nice thing about this method is that checks come with a pay stub that can outline time off, money withheld, and more.

Don’t let the mystery of getting paid when you work from home deter you from making your home office your permanent office. This list is proof that there are tons of reliable ways to pay and get paid when you work remotely.