TRAVELWISE

Introduction

As a digital nomad your clients or employer may be located halfway around the world. Receiving payments in different currencies can be costly if you rely on traditional bank wires. In this guide we cover the most popular payment methods for freelancers and remote workers, comparing fees, speed and convenience.

1. Wise

Wise offers local bank details in multiple countries and charges transparent fees between 0.35–1% of the transfer amount. Clients can pay using credit cards or bank transfers. Funds settle into your account within hours to a couple of days depending on currencies. Wise is ideal for large invoices because fees scale proportionally.

2. Revolut Business

Revolut’s business account supports payments in over 25 currencies. Invoices can be sent in your client’s currency and converted at competitive rates. Free plans have exchange limits (e.g., €1,000/month) after which a small fee applies. Revolut also provides virtual cards for expenses.

3. PayPal

PayPal is ubiquitous but its fees (typically 3–4% plus currency conversion) are higher than competitors. It’s convenient for small transactions or clients reluctant to adopt new services. Transfer times vary but can be instant if both parties have PayPal accounts.

4. Cryptocurrency

Many nomads accept payment in cryptocurrency (e.g., USDC, Bitcoin) to bypass banking fees. Crypto transfers are fast and borderless, but volatility and regulatory considerations make it unsuitable for everyone. Always convert to stablecoins or local currency quickly to avoid price swings.

5. Traditional bank wires

Bank wires are familiar to corporate clients but come with high fees (often $20–$50 per transfer) and poor exchange rates. They may take 3–5 business days. Use wires only when clients cannot pay through modern fintech options.

Tips for Smooth Payment Processing

• Include transfer fees in your invoice. Clarify who pays currency conversion and transfer fees.
• Consolidate multiple small payments into one. This reduces transaction fees and administrative work.
• Maintain accounts with multiple services. Have both Wise and PayPal (or Revolut) to accommodate client preferences.
• Track income in a spreadsheet. Keep records for tax filings and to analyse income streams. Our free Digital Nomad Budget Tracker (lead magnet) can help.

Conclusion

Getting paid as a digital nomad no longer means losing a chunk of your earnings to bank fees. By leveraging modern fintech solutions like Wise and Revolut, and understanding when to use alternatives like PayPal or crypto, you can retain more of your income. Combine these payment strategies with our guide on Wise vs Revolut (internal link) to optimise your financial workflow.