Over the last 12 years as an entrepreneur, I have hired more than twenty remote workers. These virtual assistants have completed more than 100 different projects. The projects range from bookkeeping to design work to data entry to phone calls to website building. You may be wondering: what are the best virtual assistant payment methods in order to pay your VA?
If you use a platform like Upwork, Fiverr, Flexjobs or Freelancer, then it is pretty straightforward. They already have the payment processing set up, and you can pay through their systems. You have to input your financial info, and the virtual contractor will do the same. The platform will process the payment in between.
Best Virtual Assistant Payment Methods
Many freelancers or virtual assistants like to go outside of these platforms in order to save money on fees. A disclaimer: when you hire a freelancer because of the platform, I do not think it is ever right to leave that platform because of its fees.
The reason why you were able to hire that virtual worker is because of the platform. Those fees are just a part of doing business with them. Also, there are significant benefits to using the platform. It facilitates the relationship, confirms that work is being done appropriately, and keeps things fair between yourself and your hired contractor.
If you find your freelancer online by advertising, then you will need a way to pay your virtual contractors yourself. You need to find a method that works well for both of you.
I have found that different people in different areas of the world are interested in using different tools based on where they live. I have hired contractors that live in India, the Philippines, Pakistan, and the US. All of these contractors have different payment platforms they prefer.
I am now aware of new tools as contractors refer them to me because it is a way that they can easily collect money.
For example, I had never heard of Wise as a way to make payments to contractors, yet it is the primary way that I make payments today to my virtual assistants.
It is especially loved by my VAs in the Philippines. The cost is the lowest for them to collect money.
Of course, there are also solutions like PayPal that will most likely work in their country, as PayPal works in most countries around the globe.
But again, it is from the virtual assistants that I have heard that the fees were high with this platform.
Another platform that I have also used to make payments where my contractors were pleased is Payoneer. They invited me to write an article about tips for hiring virtual assistants if you would like to have a read. You might also find that some of your employees need to get paid in advance, so you might want to understand what payroll advance apps are out there on the market.
Conclusion: Best Way To Pay Your VA
It can be scary at first to use a new payment platform. You are entering in your banking information for the company to deduct the funds and then transfer it to your contractor’s account. But I can tell you that I have used all of these payment methods and have not had an issue. On the contrary, I have been pleased with the process with all of them.
So if you are looking for a solution to pay your virtual assistants, then have a look at these platforms. They might just be the perfect way to meet your needs. As of writing this article, if I am hiring a contractor directly, my current payment platform is Wise, both for the ease and the cost savings for a direct bank transfer.