So you got an online freelancer work, but now how do get paid? You think it is going to be such a frustrating thought figuring out where to go from this point? Well i will give you a bit of good news. In the following post, you will read all about online payment methods. After reading this you will feel much better, and are more informed. I really hope it will help you. https://williebrits.co.za/freelancers-and-tax/
2 Kinds of payment Methods
Ok so this is where it gets a bit tricky, but don’t worry, as always we are here to help.
There are two kinds of payment methods available in South-Africa, namely PayPal and Payoneer. You will have to register an account with them if you don’t already have. Your money can’t be paid into your normal bank account.
It is simpler as it sounds and like i said, we are here to help.
Please remember to register for tax, otherwise you won’t get paid.
Creating a account for your payment method
You can create an account from the website https://www.paypal.com or go and download the app on play store.
Make sure that you create a strong password so that nobody else can access your information. Make sure that you enter a valid email address, as you’ll need it to use it to verify your account.
How do get paid
Receiving money is easy. All you need is a PayPal account with a confirmed email address. Your email address is the only thing somebody needs to send you money. As soon as the payment has been credited to your PayPal account, you will be notified by email. All your transactions are stored in your account History, so you can keep track of them.
How do you create a Payoneer account for your payment method
You can visit their website www.payoneer.com. The following is needed: Your Full Name, Email address, Date of birth, Full residential address and you phone number(used for verification purposes).www.payoneer.com
How do you get paid by Payoneer
The sender of the payment logs in to their Payoneer account, goes to the pay tab and select, make a payment. They enter the email address associated with your Payoneer account and then amount of the payment. You will receive the payment to your Payoneer account, as soon as that is done, you will get a notification.
Which is better Paypal of Payoneer
Neither payment platform is free. When it comes to transferring money – both of them charge a relatively small fee. However, if you compare average fees charged for different transactions by Paypal and Payoneer, it turns out that Paypal fees are actually higher than those of Payoneer
Ease of use of Paypal and Payoneer
If you plan on using the payment system of your choice to send and receive payments often, you might want to go with Payoneer. This is because it allows you to set up automatic pay-outs to your account, with Paypal on the other hand, you need to request transactions manually every time. Payoneer also has a higher withdrawal limit than Paypal.
Paypal and Payoneer safety
Both Payoneer and Paypal are very safe when it comes to protecting your information and the money in your account. But if we need to rick one over the other, Paypal is probably a safer bet since it’s publicly traded company.
Time it takes to withdraw money
Payoneer transfers your money to your bank account in less than 24 hours, Paypal usually takes 2 to 4 business days.
So there are some facts, information and details to give you the tools to make an informed and wise choice.
How PayPal works with your normal bank accounts:
Whether you have an account with FNB or not, it is interesting to know that the bank has made it possible for anyone to link their local bank details with their PayPal record using their platform.
So how do you register for online banking with FNB:
You can follow the instructions below to link to FNB:
Visit the official website of FNB. Once you are on the site, click on the Register button at the top of your computer screen and you would be redirected to another page. Here, you would be required to choose from three options but in your case, choose the register for PayPal for non FNB customers. Choose an option that applies to you. Once you have clicked on the PayPal for non FNB customers button, you would be required to choose the option which would either be for me or for my business.
Choose I do not bank with FNB. You need to understand that you are choosing this option if you do not have an account with FNB, but should you have one with them, all you have to do is register for FNB Online Banking. To do this, what you need are your valid card and ATM PIN, but in case you do not have one, visit the FNB branch nearest to you, and you would be assisted to get one fast.
Fill in the necessary information and create your user ID and password If you choose ‘I do not bank with FNB’ option, a form will open up on your computer screen which you would be required to fill in your information.
After filling everything, agree to the terms and conditions, but before you submit and confirm the information that you have inserted, create your user ID and password. Make sure that you keep those safely as that is what you would need to log in to your FNB account.
How to link PayPal to FNB?
Once you have created your PayPal account and also verified it, the next thing that you would need to do before you can start withdrawing money is to link your PayPal account with the FNB account. The steps to follow are detailed below: Log in to your FNB account on their official website with your username and password that you registered with initially.
Once you are redirected to your dashboard, select Forex option. Also, click on the PayPal services. From the list that shows up, choose ‘Link your PayPal Profile’ option. Ensure that you input the information that has to do with the details of your FNB and PayPal accounts. If you have an account with FNB, you will need to fill or confirm your details, and from there, an FNB online verification would be carried out. An authorisation to link your PayPal information would also be required, and as such, you will need to sign in with your details to effect that process.
Then, note that occasionally, some customers have FNB online banking login problems and so, in case you encounter same, do not panic; you could contact the Customer service to rectify whatever issues of concern that you have.
Withdrawing money from your PayPal account:
Once you have linked your PayPal information to your FNB account, for you to transfer money from your PayPal to your FNB account and withdraw, here are the steps to take: Visit the official website of FNB and log in to ‘access your account’. Select Forex option and PayPal Services. Also, click on the ‘Withdraw from PayPal’ button. Afterwards, you can enter the total amount that you want to withdraw in US Dollars based on the amount of money that you have in your record.
Pay attention to the following instructions to confirm the rate of exchange, the amount you will receive in Rand as well as the terms and conditions of the transaction. From there, you would be taken to the PayPal website where you will have to log in and review the amount that you want to transfer to your local bank. Once this stage is completed, you would be redirected to the FNB website, and then, your money will be transferred into the bank within 3 to 6 business days. www.paypal.com