How to choose the best payment partner as a freelancer or creator
One of the most frustrating things about being an independent creator or freelancer isn’t that you need to self-impose a work program and stick to it no matter what or even that you have to negotiate every little thing. It’s getting paid.
With so many payment options out there, like the good old bank transfers or even modern platforms like PayPal, you’d think it would be easy. But each comes with its own set of fees, processing times, and fine print that always seems to favor everyone except you.
So, how do you choose the best payout method as a freelancer or creator? One that doesn’t leave you waiting days for your money or takes a big chunk of it? Let’s break it down.
What do you need to consider when choosing a payout option?
In some ways, choosing the right payment provider is like casual dating. With some people, it’s easy. As soon as you meet them, you see the red flags immediately. In the payouts space, that translates into “benefits” like receiving your money in JUST seven working days. However, other negative aspects might be carefully hidden in the fine print. Here are three things you need to look for:
Fees - Some platforms take a percentage of every transaction, while others charge extra for withdrawals or currency conversion. These small deductions add up over time and might cut significantly into your earnings. Make sure you take the time (and muster the patience) to read the fine print, which is where this type of information is strategically placed.
Speed - Getting paid quickly is crucial for managing cash flow. While some payout options process payments instantly, others take several business days or longer, so make sure you know what you’re getting yourself into.
Currency flexibility - If you’re working with international clients, you’ll want to know whether you can receive payments in multiple currencies and whether the platform offers fair exchange rates.
Many freelancers don’t think about these things until they notice they’re losing money or waiting too long for payments to clear. The best payout method should give you control over your earnings without unnecessary delays or hidden costs. After all, it’s your money!
What should you go for?: traditional vs. modern payout methods
Every payout platform comes with its not-so-ideal parts, but some options are definitely better than others, so you need to understand how they work before you decide on one.
Bank transfers - A very common choice but also because it’s the default one. It’s what our parents mentioned while we were young, and it’s the option every service out there offers as a payment method. Here’s what you need to know about them:
Best for: Local clients who use the same banking system.
Pros: Secure, direct deposit into your account.
Cons: Slow for international payments, expensive transfer fees, and poor currency conversion rates.
Many freelancers who work with international clients find bank transfers frustratingly slow and expensive. Transactions can take anywhere from 3 to 10 business days, and depending on where the payment is coming from, fees get infuriatingly high.
PayPal and Wise - They’re faster than banks but at a cost.
Best for: Freelancers with international clients who prioritize speed over lower fees.
Pros: Faster payouts, widely accepted, easy to set up.
Cons: High transaction fees, exchange rate markups, and withdrawal costs. PayPal, for example, charges around 4-5% per transaction, plus additional withdrawal fees when transferring money to your bank. At random, your account is subject to payment holds ranging from 7 to 21 days without prior notice, which can cause unexpected cash flow constraints.
Crypto and stablecoin - Options that have become more and more popular. Here’s why:
Best for: Fast, low-cost payments without banking restrictions.
Pros: Lower fees, faster transactions, and no intermediaries.
Cons: Requires setting up a wallet, and cryptocurrency volatility can be a concern unless using stablecoins.
Why security matters when you choose a payout platform (besides the obvious reason)
Security isn’t just about being targeted in a cyberattack and losing your earnings. Some platforms randomly freeze accounts, leaving freelancers unable to access their own money. Others offer little to no protection against fraudulent chargebacks, which means clients can dispute payments even after you’ve completed the work.
This is where a platform built specifically for creators and freelancers like CAJEROPAY comes in and offers:
Encryption and fraud protection to prevent unauthorized transactions.
Reliable dispute resolution in case of payment issues.
Clear, transparent policies that don’t leave freelancers vulnerable to losing their earnings.
How CAJEROPAY makes getting paid easier
If you’re tired of slow payments, excessive fees, and unreliable payout options, CAJEROPAY provides an alternative designed to prioritize freelancers’ needs. Here’s how:
Lower fees - More of your money stays in your pocket instead of disappearing into processing charges.
Faster payouts - Get paid in hours instead of days.
Multiple payout options - Withdraw to your bank, digital wallet, or in stablecoins for better control over your earnings.
Fair exchange rates - No hidden markups that reduce the value of your payments.
Choosing the right payout method can make a huge difference in your career. Learn more about how to get paid smarter here [link to homepage].
Tips on how to track and manage your earnings like a pro
Once you’ve chosen the right payout method, the next step is keeping track of your income so you’re always in control.
Use a finance tracker - Tools like Wave, QuickBooks, or Notion finance templates help you monitor incoming payments and expenses.
Set up payment reminders – If you send invoices, tools like Bonsai or FreshBooks can automate follow-ups so you’re not chasing clients.
Diversify your payment methods – Have at least two options so you’re never stuck if one platform has issues.
The goal? Spend less time worrying about payments and more time doing what you love.
