Online Payment Services
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Online Payment Services
If you are accepted to teach with one (or more) of these Online Teaching Companies, you will of course need to provide details of how you would like to receive the payment of your salary that you earn each month. Most of these Online Teaching Companies offer the option for direct wire-transfers to your bank account.
More Convenient than Traditional Banks
However, even if an Online Teaching Company does offer the option for direct wire-transfer to a traditional bank, for some teachers this may not be the most convenient (or cost effective) way to receive payments each month for a variety of reasons including (but not limited to) needing to receive only a few hundred dollars, or that the teacher is living abroad as an expatriate and/or travelling abroad as a working nomad. Nowadays, such Online Teaching Companies are also offering the option to receive payments via online financial services companies that offer online payment services which help facilitate mass global payments to such independent contractors, freelancers, and/or working nomads.
Payoneer vs. Paypal
Increasingly it is becoming more common that such companies prefer not to work with PayPal, but instead offer the option to receive payments by Payoneer. Indeed PayPal charges exorbitant fees of approximately 10%+ in order to receive the payments to your local bank. That's 10%+ of your hard-earned money paid to PayPal just for the privilege of receiving your money through them as a middle-man!
Payoneer: The Better Option
In comparison, Payoneer's fees are extremely low of approximately 1 - 2%, and there are a number of other advantages to using Payoneer even compared to one's local bank:
- - Get paid in more currencies: Accept payments in USD, EUR, GBP, JPY, AUD, CAD & CNY - as if you had your own local bank account in each of these many currencies!
- - Access your funds with ease: Withdraw funds from your Payoneer account to your local bank account (in your local currency) and/or at ATMs worldwide, or make purchases online and in-store.
- - Get a Payoneer Prepaid Mastercard which you can associate with any (i.e. EVERY) currency balance in your Payoneer account. This card can be used at ATMs, in stores, or online anywhere Mastercard is accepted. You don't need to have a bank account in order to get a free MasterCard. You can withdraw money via Payoneer from your local ATM.
- - Withdraw payments from your Payoneer account to your local bank account, in local currency.
- - Pay another Payoneer customer – anywhere in the world – for FREE!
- - Connect your Payoneer account with Amazon, Upwork, Airbnb, Fiverr, 99Designs, iStock, ClickBank or any of Payoneer's partners.
- - Get the help you need: Enjoy multilingual customer care 24 hours a day, 7 days a week!
- - Access funds in 1-3 business days, but often in just a matter of hours!
