The cost varies from bank to bank, and depends on local or international payments, although I’ve found it pretty reasonable (e.g. If your client has online banking it should be handy for them to make the payment also.Ī bank transfer will usually cost for both sending and receiving.
Usually takes 1 or 2 days, depending on local/international transfer. I pass on my bank details to a client and they do a transfer. Bank transferįor me bank transfer is the best method of payment. I usually accept cheques from local clients. You also have to wait that little bit longer for it to arrive in the post, and you have to make the extra effort to go down to your local bank (all this time adds up). However, if you’re getting paid internationally this can cause a problem as it can take forever to lodge your money (even up to 60 days as I once learned after receiving a cheque in U.S. The good thing about a cheque is it won’t cost you anything (except maybe 20p for lodging into a business account). I tend to use PayPal for smaller amounts from remote clients. So if you’re getting paid £1,000, it’ll cost you roughly £40 getting paid with PayPal. The problem with PayPal is that they take a cut. Also, a lot of online invoicing systems already integrate with PayPal, again upping the handiness factor. The beauty of PayPal is that it’s handy, and it’s instant (unless sending an eCheck). Method of paymentĪgain, be sure to include your preferred method of payment in your contract so there are no surprises. If it gets to over 1 month with no payment, this is when you start to worry.
If after 3 weeks you have received nothing, send another reminder and perhaps follow up with a phone call. And be sure to re-attach the invoice for convenience. If after 2 weeks you have not heard from them or have not received payment, send a friendly reminder.
Send remindersĮven good clients will forget they have other things to do, other bills to pay and like everyone they will forget. And in my mind I hope to receive the money within 2 weeks. I ask for payment on receipt of invoice i.e. But again, being self-employed, 30 days is a long time to wait for the money you’ve been working so hard for. Some businesses might even allow 90 days, depending on how much money is involved. Generally in the world of business, you will usually have 30 days to pay an invoice. If 33% then there will be a second payment due mid-way through the project. I will usually ask for either a 50% or a 33% up-front deposit, depending on the size of the project. Getting paid in stages and asking for an up-front deposit should be no problem to any genuine client.
Once money is exchanged, both parties will take the project more seriously, and are now devoted.īeing self-employed you’ll struggle to wait until to end of a project to get paid, as in the mean time you have bills to pay and a life to live. You haven’t got a sale until money has exchanged hands. You never know when you might need it as back up. If contracting on hourly/daily basis, keep track of what you worked on that day.Let your client know how much something will cost before you actually do it, even maintenance work for existing clients. Make sure you have a contract (signed by both parties) with a breakdown of how much and when each payment is to be made.Right from the start, communication with your client is key to making sure everything runs smoothly. Money can be a tricky subject, and for one reason or another getting paid on time is something that will always crop up, no matter who you work with.Īs a freelancer I’ve come across these obstacles myself and would like to share with you how I operate, and maybe you can share your own experience in return. As a freelancer, or small business owner, it’s extremely important to get paid as soon as possible because more than likely you don’t have a Scrooge McDuck money bin to help you out.
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