The world is evolving; new technologies are emerging to improve our daily activities, yet sending money globally still feels like we are in the early 2000s.
You are either faced with high transfer fees, poor exchange rates, tax compliance headaches, or complex manual processes, especially when you want to process batch transfers. Yet, businesses need to pay their international freelancers or contractors.
The truth is, there are more convenient and affordable methods to send money to freelancers globally. Unfortunately, only a few people know these options.
However, this guide will show you a step-by-step process on how to pay international freelancers without expensive fees or complex processes.
How to Send Money to Freelancers Globally
The best way to send money to freelancers globally is through the Dots platform. This automated, business-focused payout platform provides a convenient way to send money to a single freelancer or 1000 freelancers at once. You can make this payment directly from a dashboard or make a single API call.
It also gives you the flexibility to transfer money to over 190 countries, which means you no longer have to worry about geographic restrictions.
Additionally, recipients can choose to receive the money via their preferred payment method. They can use their digital wallets, such as PayPal, to get paid instantly, or they can receive payment to their local bank account, which typically takes 2 to 5 business days.
With Dots, you no longer have to worry about tax compliance headaches when you make global payments. The platform handles it for you by collecting and verifying W-9 and W-8 forms from payees, calculating the appropriate withholdings, and generating 1099 forms at year-end.
For a platform that offers all of these essential perks, you’d expect a high fee. Surprisingly, Dots offers transparent, volume-based pricing, meaning there are no unexpected or hidden charges, and your transaction fee decreases as your payout increases.
How to Use Dots to Transfer Money to International Freelancers
You can send money to freelancers internationally using the Dots Payout Link or the API payout.
1. Dots Payout Link:
This is the fastest and easiest way to send money to freelancers globally. In fact, you don’t have to collect the payee's bank details before you make the transfer. All you need to do is enter the amount you want to send, optionally enter the recipient's email address or phone number, and create the link via the Dot dashboard or the Create Payout API endpoint.
Immediately after your link is created, Dots will send the payout link to the recipient via SMS or email. Then, the recipient claims the link using their preferred payment method to receive funds instantly or within 24 hours.
How to Pay International Freelancers With the Dots Payout Link
Follow these steps to instantly pay international freelancers:
Step 1: Create a Dots account or log in to your Dots account.
Step 2: Navigate to the Dots dashboard and select the desired App from the sidebar selector.
Step 3: Select the “Send Payout” tab and click the “Payout Links” button.
Step 4: Enter the amount of money you want to send and optionally enter the recipient’s email address or phone number.
Step 5: Click the “Create Payout Link” button to proceed.
Step 6: Select your preferred delivery method. I.e., how you want to send the link, either via email, phone, or by copying and pasting the link.
Step 7: The recipient receives the link and is redirected to the Dots portal.
Step 8: The recipient gets onboarded by following the onscreen instructions.
Step 9: The recipient enters and verifies his/her phone number. Then select their preferred payment method. Available options include Local bank transfers, wire transfers, PayPal, Venmo, Stripe, etc.
The payment is completed instantly or within 24 hours.
You can also use the Payout link to pay international freelancers by integrating the Create a Payout Link endpoint into your system.
2. Dots API Payout:
If you're after automated payouts and bulk transfers or simply need complete control over the payout process, you should consider integrating the Dots API payout into your system.
This method allows you to collect the specific information you want from the payee through your user interface and customize the whole payout workflow.
Additionally, you can easily configure webhooks to receive real-time updates when payouts are processed.
How to Batch Pay International Freelancers Using Dots Batch Payouts API
Follow these steps to batch pay international freelancers with the Dots Payout API:
Step 1: Create a Dots account and get your Dots API credentials.
Step 2: Create a list of users who want to receive the batch payments in your workspace.
Note: Each user must be able to receive payments on the selected rails.
Step 3: Make an API call to the batch payout endpoint to create a batch payment
Step 4: Configure the webhooks to receive live updates as payouts are processed.
If you want to learn more about the Dots API and how to integrate it into your system, check out this guide.
Frequently Asked Questions About Paying International Freelancers
1. What is the Best Way to Pay International Freelancers?
The best way to pay international freelancers is through an automated payout platform like Dots. It allows you to transfer money to freelancers in over 190 countries, and they receive their payment instantly using their preferred payment method.
2. Can I Pay International Freelancers in Their Local Currency?
Yes, you can pay international freelancers directly in their local currency on the Dots platform. It automatically handles currency conversions and selects the fastest, most cost-effective payment rail for sending the money.
3. What is the Quickest Way to Transfer Money Internationally?
The quickest way to send money globally is through a payment platform like Dots. You can instantly send money to the recipient within 2-5 minutes using a unique payment link.
Conclusion
You don't have to pay high transaction fees or face complex processes before you send money to your international freelancers.
With the Dots platform, you can transfer money to freelancers in over 190 countries by creating a payment link or by calling a single API endpoint. And the recipients, on the other hand, get to receive their funds instantly, depending on their preferred payment method.
Book a demo to learn more about the Dots platform and how you can use it to pay your international freelancers.
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