Finding the best way to receive international payments for products and services is always challenging, especially for online sellers or small businesses. Since it can be tricky and costly. Even if you’re receiving money for personal reasons or you are a freelancer that wants to make money by working with global businesses, extra charges for receiving international payments means less money in your pocket so it is important to find the best way to receive international payments.
In this section we are going to show you 4 of the best methods that you can choose in case you need to receive international payments from customers or friends. Choosing any of these ways depends on your circumstances and needs.
Using a multi-currency account enables you to hold funds and make payments in multiple currencies. By this type of account you do not need to open multiple bank accounts in different countries abroad.
PayPax multi-currency account is basically an online bank account giving you the ability to receive digital money including Perfect Money, WebMoney, Payeer and cryptocurrencies while it offers low exchange rates and fast transactions.
Cryptocurrencies are best known for fast and safe transactions all around the world. You have the option to use Bitcoin or any other crypto coin as a method to receive payments from customers.
To do so you will need to create a cryptocurrency wallet and share your crypto wallet address to the sender. Another thing that you need to consider is that cryptocurrency price is volatile so the price might move and you may get less money at the end of the transaction. However to solve this issue you can agree to receive stablecoins which have fixed prices.
One of the ways to receive payments internationally is to use bank transfer. Bank transfer enables users to send money from their domestic bank account to another bank account overseas. However using this method might have high commission fees and has some risks and difficulties.
In case you are working for UAE businesses it is suggested to read the article below:
Best alternative to a business bank account in the European Union
Using an online payment gateway you can accept payments from potential customers all around the world. PayPax online payment gateways are transparent and easy to use. By accepting payments through PayPax gateways you can have quick access to funds.
Using this method can be less expensive than banks for smaller transaction amounts, since PayPax fees are percentage-based and low.