What's the best way to pay contractors in the early days?
What's the best way to pay contractors in the early days?
I have a talent network of 20+ people, and that will be scaling to 150-200 in the near future. I definitely want to avoid using a platform like Squareup, Wave, etc (they charge $5+ per contractor per month).
I'm only paying out several times per month, on a project by project basis, so using apps like Venmo or PayPal would work fine. Just curious if anyone has experience with this.
Thank you in advance!
Revolut, if you are from Europe. Free international bank wires and instant pay if the user has Revolut. We use it at www.testable.org
Nice, I am definitely going to look into Revolut when we expand into serving clients in Europe.
Yo I started Lancr (lancr.co) as a way to help growing companies pay their freelancers.
You can track time, add fixed or hourly contracts etc
Use local payment methods and we take care of adding your freelancers payments and do instant pay after you process $3k
PayPal is fine I think
Paypal is Garbage.
They price gouge on exchange rate fees .. I recall it being 15% off a few months ago.
It isn't safe to be paid by Paypal as the payer can, a few months later, claim fraud and take the money back.. this is common Knowledge.
The best options:
Right on, didn't know it was so easy to claim fraud. I'll be checking out Transferwise today!
That's a good point that I didn't think about. I know some companies use it, but it's a risk I might not be willing to take.
You would recommend Transferwise even if my company and 100% of our contractors are in the US?
I would recommend them, they are venture backed($58m) and legit, their app is also very good.