Our Favorite: Ways to Accept Payments From Clients
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Online businesses = online payments. A major pro of remote working can quickly become a con when you realize that international clients often add hefty bank fees into the mix. But it doesn’t have to! Nix PayPal and give one of the three payment methods we recommend for online business owners a try.
What Makes One Online Payment Method Better Than Another?
Online service providers who work with clients nationally or internationally have different needs than a brick-and-mortar business. We – Chels and Erin – have worked remotely for years as digital nomads, so we understand what you require in client invoicing software.
Our recommendations for online payment software take into account:
Service, transfer, and international fees
Ease of use
Features included
Cost
Now, let’s get into the payment methods we use and love as online business owners, so we know you will too (especially if you work with international clients).
Our Favorites
With so many online payment methods out there to choose from, we made it easy for you by narrowing it down to our top three. To help you decide, let’s discuss why we love each.
1. Wise
We keep mentioning international clients because Wise has THE BEST exchange rates known to mankind coupled with minimal transfer fees. If you get it, you get it!
This payment method is ideal for digital nomads or anyone accepting payment from global clients in any currency. Wise allows you to open multiple bank accounts in different currencies, giving you local bank details to accept transfers and/or use when you’re in that country.
It’s personally saved Chels tens of thousands of dollars over the years she’s used Wise to accept client payments. Get a fee-free transfer!
2. Stripe
If you’ve heard of PayPal, you’ve likely heard of Stripe. They’re close competitors in the world of invoicing software.
Stripe is perfect for those that need to connect an online shop or Stan store. You can also set up one-time or recurring payments for subscriptions or membership offerings.
We love it so much that we use it to bill Remote ID members and pop-up event attendees!
3. Wave Apps
This free invoicing software offers flat fees for credit card and bank payments, which is a huge bonus to you.
Wave is perfect for busy business owners who need invoicing, payments, expense management, bookkeeping, and accounting software all in one place. The other upside is the quick turnaround time for refunds, which keeps clients happy!
Erin has personally used this software since she started her business in 2018, so it comes highly recommended.
Are These Online Payment Methods Worth the Cost?
Yes! Client invoicing software is the number one way to look professional (besides having a website). It helps you organize your payments, cut costs when working with global clients, and reduce your overwhelm as a business owner. The fees are a cost of doing business and can be written off on your taxes — just consult your accountant first.
The right payment method for you and your clients depends on your needs as a business owner. If you’re traveling a lot or working with global clients, then Wise might be the best choice for you. If you need free invoicing software that comes with everything included, Wave Apps is for you.
Are you using any of these in your business?
P.S. Don’t forget! You can get one fee-free transfer of up to $1K AUD with this link.