Receive Money from Foreign Clients Easily and Securely

by Rico on September 11th, 2007

One of the major obstacles non-Western freelancers face is the lack of easy payment systems. At least here in the Philippines, where the most common way locals receive money from foreign sources is via remittance. This is how I get paid for at least one long-term freelance commitment.

Remittances can be Inconvenient and Dangerous

At least from my personal experience, receiving remittances require the personal appearance of the beneficiary at the remittance center. It’s reasonable to expect banks and other financial companies take steps to verify your identity. After all, when it comes to money, an active imagination will always find ways to defraud the system.

Unfortunately, the hassle of the trip to the remittance center isn’t that bad compared to the danger of carrying around large sums of money on your person. A mugger could hit pay dirt once he establishes your pattern. I make it a point to receive money from different centers for this very reason.

How Moneybookers Works

That’s why I’m happy with Moneybookers, a money transfer service that routes my pay from another long-term contract directly to my bank account. Both my employers, who are based in East Coast USA, and I use our Moneybooker accounts to send and receive money securely.

The sender “loads” his account by “uploading” funds from their bank account or charging the amount to their credit card. Then, they can send money to their contacts’ Moneybookers account, only needing to provide the recipient’s email.

Upon receiving my money on Moneybookers, I have it wired (or “withdrawn”) straight into my bank account. It’s just a matter of checking my account balance via my bank’s online portal or the nearest ATM to see if the money has arrived (usual waiting period is 3 to 5 business days).

Since Moneybookers thoroughly verifies the identities of everyone involved (I had to enter a verification code I received via mail before Moneybookers considered my bank account valid) and transfers the money straight to your bank account, there’s less chance for theft or fraud. At no time were the verification procedures too stringent or problematic.

This is nothing new for areas that fully support PayPal. But it’s a boon for countries where there’s none or limited support for that service. Here in the Philippines, we can only send money with PayPal, not receive it.

Worldwide Coverage

If your opportunities to receive money from foreign clients or employers are as limited as mine, you should look into Moneybookers. The service operates in practically any country with a banking system, and offers the convenience of directly routing money to your bank account. On top of that, the transaction fees are very low. If anything, the transfer times are a little long, but I’d rather wait a little longer if it meant peace-of-mind and expediency.

Another challenge is convincing your client to use Moneybookers to pay you, if they already don’t do so. But this is actually easier than it sounds. Employers are always willing to pay for quality output, regardless of the method you prefer. Signing up for a Moneybookers account (referral link) makes it easy for you to securely and conveniently receive what your work is worth.

b5media.com

Contract Worker - Freelancing Experiences