How do I receive my earnings from working on the Internet? A question that baffles everyone who wants to enter any field of work and make money through the Internet , as well as everyone who works in a remote job.
This confusion is due to the large number of means of receiving profits. Some of these methods are available on profitable platforms, and others are not available on the platform itself, or are available on the platform but are blocked in some countries.
The multiplicity of means and the receipt of profits locally and globally makes those who are coming to one of the ways to make money from the Internet in general are afraid of the point of paying them, and a large number of questions revolve in their minds, the most important of which are:
What are the means available to pay me in general?
What are the means available in my country to receive my earnings online?
Which of these payment methods can be used easily?
What are the procedures required to subscribe to these payment methods?
What is the cost of receiving money on a specific payment method (service fees and charges)?
In this article, we try to answer all the previous questions by mentioning the most important means of receiving profits from any remote work. We will also explain the advantages and disadvantages of each method and our personal experiences with each of them, if any.
You want to make money from a social networking site (Youtube, Facebook, Tik Tok).
You want to work and earn through freelance platforms.
You want to work as a freelancer and provide services to third parties directly, but your clients are from outside your country or from outside your city.
Want to work in any freelance job?
Want to work in affiliate marketing?
Want to work with any global or local freelance platform.
This article is also useful for you if you are working in any field or any other scenario where you have to receive your salary, return from your work or profits indirectly ( without receiving it manually).
The most important and most popular ways to receive money from working on the Internet
Although there are a number of different methods of receiving earnings, there are conditions that each method imposes on its users. Some methods require a certain age to be used.
Sometimes confirmation of the user's identity is necessary to withdraw profits, and finally, most methods charge fees or charges for providing the service of receiving and withdrawing funds.
The nationality of a person also affects the way each method deals with his money, as the deduction amounts and the period during which profits are withdrawn are determined.
There are countries that prohibit dealing with certain methods, or charge a fee for receiving profits through international bank transfers. Therefore, it is important to familiarize yourself with the terms and features of each method, and to make sure that receiving from them is in accordance with the laws of your country.
The most important means of receiving money:
1. PayPal
PayPal is one of the most important and famous electronic banks in the world. Millions of people use PayPal daily, and most of the world's electronic stores depend on it to collect their money, and it is the easiest way to collect and send money.
All you have to do is create an account and add all the required data correctly, then you will be asked to confirm your identity by adding your personal data and attaching a copy of an identity document. After completing the confirmation process, you can receive the funds and use your account as normal.
PayPal provides excellent protections for its customers, and it can be used through the website directly or through its mobile application.
Read also: How to earn $15 a day writing articles on upwork without experience
Advantages:
Ease of use.
Creating an account and starting to use it is done as soon as possible.
It can be used by phone app.
A variety of currencies can be received on it.
Amounts received can be converted from currency to currency.
You can link the bank to a bank account or bank card.
Disadvantages:
Some amounts may be withheld for a period of 30 days to ensure the legitimacy of the transfer process.
Some countries where PayPal is available allow the use of only some of its features.
Payment from it is only available after linking it to a bank card and paying from it.
Transaction fees are high and change periodically.
Communicating with customer service can be a bit stressful.
2. Western Union
An international money transfer method that exists almost all over the world through offices on the ground, and is one of the simplest ways to receive and send money.
To send money through Western Union you will need to specify the sender's name and country. As for receiving the money, you will need to go to the nearest branch to you, and you will need an identity confirmation card (passport or personal card), the transfer number, and the data available to you about the transfer such as the sender and the country from which it was sent.
Advantages:
Amounts and transactions are done quickly between countries (remittances arrive on the same day of the transfer).
Possibility of receiving in dollars or in euros.
The possibility of inquiring about the arrival of the transfer by phone.
The possibility of tracking the transfer through a service tool .
Western Union's mobile application is advanced and fast.
Disadvantages:
The technical aspect of this method is not the best (the transfer is available through the application or in person through a branch, but the site allows tracking the transfer only).
Some transfer offices may require a relationship between the sender and the receiver to allow the money to be delivered (in particular, Western Union offices located within some banks).
Funds must be withdrawn within a specified period or they will be refunded to the sender.
The method of sending and receiving only, and the balance cannot be used to purchase from the Internet or pay service fees.
There is a fee for the service that is borne by either the recipient or the sender.
My personal experience
Official Western Union offices allow receiving money without a relationship most of the time, but Western Union offices in banks do not allow this at all, at least for the time being.
Official Western Union Website Link
3. Payoneer
Although Payoneer is considered an electronic bank just like PayPal, Payoneer has turned this idea into a completely new concept. Unlike Paypal, Payoneer allows you to send and receive money to bank accounts.
Payoneer also gives you bank accounts in multiple countries such as Japan, Germany, and others. The purpose of these accounts is to allow you to receive and send amounts to different countries and in different currencies.
Read also: Ways to make money from LinkedIn (6 opportunities waiting for you in 2022)
Advantages:
It provides you with a MasterCard card with which you can withdraw and deposit in a large number of ATMs.
You can transfer your funds available on it to any bank account.
The procedure for adding a bank account to your account is easy to implement and does not require many steps.
You can link his MasterCard to PayPal and pay through it.
You can use your Payoneer account as a bank account and link it to PayPal and transfer your money from PayPal to it.
Disadvantages:
Getting to customer service is a bit tricky.
Payoneer charges fees for many transactions such as withdrawals and transfers.
Minimum funds withdrawal may not be suitable for you if you are going to use your account to receive small amounts.
Payoneer does not support converting the amount from currency to currency.
MasterCard card renewal fees are high and the conditions are difficult.
There is a premium of about $3 that is paid every month on an ongoing basis regardless of whether the account is used or not.
The steps for recovering the PIN of the MasterCard card are complicated and not done automatically.
My personal experience
I see that Payoneer is the best way to receive profits, but it is designed for continuous use, so it is suitable for receiving amounts between 30 to 50 dollars and more periodically, because the fees it imposes may be a burden on you if you receive smaller amounts, not to mention the minimum withdrawal restrictions that it sets for each currency separately.
The official link for the Payoneer website
4. Skrill
Skrill is an excellent way to receive profits on the Internet, especially if your profits come from freelance sites or affiliate marketing sites, but unfortunately the method is not valid for use by residents of Arab countries.
We discuss Skrill in this article because it is present in a large number of sites through which it is possible to profit on the Internet, and you may find yourself having to receive your earnings through it in case other methods are not suitable, or you cannot use it at all.
But we recommend relying on Skrill to receive profits only when absolutely necessary, as the Skrill platform is the only way you can withdraw your profits, but you should know that withdrawing profits through Skrill is a difficult process.
In the event that you have to receive your earnings through Skrill, you can use one of the following solutions to benefit from your money:
Use your Skrill money to make purchases from websites and online stores that allow it to be used.
Using Skrill to pay for services or purchase electronic tools and applications.
Rely on a guaranteed broker to transfer your funds through Skrill to him, and then receive it from the broker after deducting his commission.
We will discuss the idea of using a mediator more clearly later in the same article.
Advantages:
easy to use.
A means of receiving profits is available in a large number of foreign freelance sites.
Using Skrill to withdraw profits from Freelancer is done within a day and without fees.
Strong security with 2-Step Verification.
The ability to specify a number (PIN) that is required when trying to access your account to enhance protection and security.
With your account, you can send money to a large number of international banks.
The fee for sending funds between Skrill accounts is 2.99% of the amount sent, with a minimum of half € per transaction.
Skrill lowers transaction fees the higher the amount you receive through your account through the Skrill VIP program .
Also Read : What is passive income and how to earn it online 2022
Disadvantages:
Limited possibilities compared to other means of receiving.
Some Arab country banks refuse financial dealings with Skrill.
Transferring money to banks in Arab countries is not available.
The identity confirmation process can take a long time.
Some users have complained that Skrill is holding their money for no apparent reason.
5. WebMoney
WebMoney is one of the oldest payment methods on the Internet, and it is considered one of the main payment methods in Russia. WebMoney supports more financial services than any other payment or receiving method.
Advantages:
It can be used through a mobile application.
It can be used as a standalone application that works on Windows and Mac systems.
You can convert your money on it into certain digital currencies.
You can issue a bank card linked to your account on it.
You can use your available money on it to pay bills for some services such as landline and mobile phone bills.
You can request an ATM card linked to your Webmoney account.
Disadvantages:
Difficult user interface.
Some pages of the site appear in Russian and the translation through the browser is not accurate.
Slow customer service.
Webmoney does not have a good reputation among many users of online payment methods and some international banks.
The official website link for WebMoney
6. Personal bank account
Having a bank account is essential if you want to go into the online business. Most freelancing platforms, affiliate networks and other profitable platforms offer the option of receiving earnings via wire transfer.
The bank account will also benefit you in receiving your profits if you want to go to self-employment locally or within your country.
You can consider a wire transfer as a means of receiving domestic and international profits, but you should be aware that there are fees for international transfers on a local bank account.
There are other factors to consider when choosing this method, such as the currency conversion commission in case the amounts transferred are in a currency other than the local currency.
You can open a bank account in dollars or euros, which will reduce transfer fees or eliminate the so-called currency conversion commission.
We will not talk about the advantages and disadvantages of opening a bank account in general, but we will mention the advantages and disadvantages that you should pay attention to when relying on this method to receive your profits from online work.
Advantages:
Low account opening fees (especially in government banks).
You receive a periodic account statement every 3 months with the details of your transactions (you can also view it through the bank’s website, or through the banking application, and you can make many transactions through the application).
You can follow up on the status of your transfer through customer service.
It is one of the few ways you can withdraw your money in cash.
Disadvantages:
International transfers may take several days to reach your account.
You need to know the IBAN of your account and the SWIFT code to complete international transfers properly.
The customer service of some banks is not familiar with all the details of international transfers.
The costs of international transfers are many and the process of calculating them is complex.
Note: Bank transfer is an essential means of receiving Google Adsense earnings , whether in profit from blogs or profit from YouTube .
7. Cryptocurrency
Payment with digital currencies has become available in a large number of sites on the Internet. There are a large number of online stores that rely on this method of payment, and there are also some freelance platforms that provide this method for their workers.
The payment mechanism of this method depends on owning a cryptocurrency wallet to receive your earnings on it. Earnings are paid in the digital currency that the site or platform that you made profits on.
Advantages:
Get digital coins without mining.
It can be considered an investment given the high price of cryptocurrencies at the moment.
Low transfer fees.
Disdvantages:
Dealing in digital currencies is either prohibited or subject to legal restrictions in several Arab countries.
The rate of rise and fall of cryptocurrencies is generally high, which may make the value of what you own unstable.
You need to get an electronic wallet that provides high protection, because hacking and theft of electronic wallets are very common.
Few freelance platforms rely on this method.
Converting cryptocurrency to cash needs a special platform, and it may be complicated for some people.
8. Financial intermediaries
An intermediary in the field of receiving profits is a person who receives funds on behalf of its owner. The reason for the need for a mediator is that one of the parties is not able to transfer or receive funds directly, this may be due to circumstances related to the business owner himself, or the means he uses to transfer funds.
For example: you may find an excellent business opportunity on the Internet, but you cannot receive your profits from the customer because he relies on a payment method that is not suitable for you or is not available in your country, and this is a possibility.
In the event that the customer cannot transfer your profits through a method that suits you, you have only two options to solve this problem:
You apologize for committing to this work in the event that you have not already begun to perform it.
Hiring a broker to receive profits from the client.
Hiring a financial intermediary is the last solution you can resort to. We advise you to resort to it only if you have already carried out all or part of the work required of you, or if you know a guaranteed broker that you can rely on to receive your profits.
Note that the broker charges a portion of the amount he will transfer. This amount is usually greater than the commission for transferring other means of receipt, and is determined based on the agreement between the parties to the transaction.
Hiring a broker to receive profits is not a guaranteed process, as it depends on the reputation of the broker itself and personal experiences with it.
Note: There are other global methods of receiving earnings, such as Paysera and Wise , but the methods we mentioned are the most popular and widely used among freelance platforms and affiliate marketing networks.
Also Read : What is CPA Marketing (your guide to understanding CPA in depth)
Second, the means of receiving local profits
The concept of freelance and profit from the Internet is not limited to working through its own platforms only, but also extends to free work within your country, which may consist in selling physical products, or providing digital services such as writing articles and editing photos and videos.
The advantages of the means of receiving local profits are diverse, as well as their disadvantages, so it is important to read the information about each method carefully before choosing it.
In the next section, we will mention the most important methods of receiving profits that you can rely on within your country.
Tips for receiving business earnings on the Internet
1. Do not start business before you choose the method of receiving profits
Starting to work and profit from the Internet before choosing the means of receiving profits is a common mistake that a large number of beginners in this field make.
For example, not all freelance platforms provide means of receiving profits that are suitable for all users, and therefore you must look at the available means and choose one of them before starting to work and earn profits.
For example, you may start with one of the affiliate marketing platforms , make profits, and then discover that there is no way to receive profits that suits you on the platform, or that it exists, but it is expensive.
Therefore, choose the method of earnings before starting to work, in order to avoid wasting your effort, and to avoid holding your earnings because there is no way to withdraw them.
2. Wait for the process of adding the Receipt to complete
Some may think that the process of choosing a means of profits is a simple process and can be done after actually making profits, and this is wrong, because when you add a means of receiving your profits, it is not approved by the site or platform that you are working on immediately.
For example, choosing a bank transfer will require adding a lot of data, and the platform may need some time to verify it. Sometimes the verification attempt may fail, or it turns out that your bank in your country does not accept transfers from this platform.
In general, the process of confirming the method may be hindered in one way or another, so it is better to wait until it is finally approved before working.
3. Choose a method for receiving reserve profits
Financial transactions around the world may be delayed for reasons that are not always known, but this does not happen with all means of receiving profits.
Banking transactions may take a longer time during the period of the end of the financial year (06/30 or 31/12 depending on the policy of each bank). Paypal sometimes crashes in some countries or is temporarily banned.
And since you may depend on getting these profits primarily in your life, it is preferable to have a means of receiving profits as a backup.
The more methods available, the better, but to avoid confusion between methods, you can choose a primary method and a backup method that works differently.
The first method can be a wire transfer while the second is an electronic bank transfer.
4. If you don't know, ask
Inquiries will always give you information that you did not know. The policies of freelance platforms and affiliate marketing networks can sometimes be vague in terms of withdrawing profits.
The platform may explain to you the withdrawal steps and commission fees, if any, but it will not show you how the same method deals with your profits sent.
Therefore, it is preferable to ask customer service to find out when the profits will arrive and the fees for receiving and withdrawing, or in order to inquire about any other information you would like to know about receiving your profits.
We recommend that you ask and inquire if you choose to receive your winnings via local bank transfer. Some banks do not deal with this type of transfers on a regular basis, so dealing with it can sometimes be confusing for them.
Ask the bank about the receiving commission, currency conversion fees if your account is in a currency other than the currency to which it is converted (dinars or pounds for dollars or euros).
Also, do not forget to ask the bank about the time when the amount will reach your account, even if it is an approximation.
5. Calculate your earnings accurately
It is important to follow this step immediately after the previous step. You have added the method of receiving the profits, you have confirmed it and you have written down all the information related to the transfer of profits from the platform and from the method itself, now it is time to calculate your profits before and after deducting all expenses.
This is a purely economic step, because it helps you know what you actually earn from the profits, and what is deducted from you by the platform or the site and by the method that you relied on to receive your profits.
Also, don't forget that this helps you know how suitable this platform is for you, and the same for the medium.
Not all receiving methods deduct the same fee amounts, and the same is true for platforms. There are platforms that encourage freelancer and deduct only in certain cases and on certain amounts, and there are methods that deduct relatively small amounts compared to similar ones.
Calculating your earnings will help you discover the appropriate medium for you and the platform, and it also provides you with an overview of the expected profits, which is important if you rely on working through the Internet as your sole source of income.
Conclusion
We hope that we have provided useful answers to the question How do I receive my earnings from working on the Internet? The means of receiving profits are increasing day by day, and we advise you to be aware of them as often as possible.
The policy of a facility you were not using may change for the better, or you may find a new method that offers new features for you.
Have you used any of the methods of receiving earnings in this article? Which one do you think is the best? Share your experience with this method in the comments.
