7 Freelancer Payment Methods that Make Virtual Payroll Easy

7 Freelancer Payment Methods that Make Virtual Payroll Easy

Hiring a freelancer is a smart and affordable way to utilize outside talent for business success. You may hire a freelancer because no one in your company has the qualifications and skill to do something you need to be done, or you could hire a freelancer because you only need a particular skill once or twice and can’t justify hiring full-time staff. For whatever reason, once you hire a freelancer, you should invest in easy, accurate and efficient ways to pay freelancers.

1. Hubstaff

What makes it special: Multiple payment partners, including PayPal, Payoneer and QuickBooks, flexible payment options and useful insights into how your freelancers work.

Hubstaff is a time tracking software that enhances virtual time tracking with randomized screenshots, activity levels, and other insights into how remote employees, contractors or freelancers work. Use the activity levels to find your most productive freelancers, and eliminate cluttered inboxes by viewing screenshots to find out what freelancers are working on. You can pay freelancers virtually from within Hubstaff using the time they track on Hubstaff’s time tracker apps.

Read about how easy it is to automate payroll with Hubstaff.

Hubstaff also integrates easily with multiple project management software, so your freelancers can track time directly to tasks assigned to them.

Here are a few things you can do with Hubstaff:

  • Set different pay rates for individual freelancers.
  • Send payments automatically or manually.
  • Pay for the exact amount of time worked.
  • Schedule payments weekly, bi-weekly, monthly or twice a month.
  • Easily integrate with PayPal, Payoneer or QuickBooks.
  • Integrate with numerous project management tools for a seamless workflow.

Learn more about Hubstaff’s automated payments and payroll.

Pay your virtual teams easily, accurately and on time with @Hubstaff's automated payroll. Click To Tweet

2. PayPal

What makes it special: PayPal is the most widely used form of online payments for websites, companies, and individuals. It has 162 million active users, services 203 markets, and offers more than 100 currencies to serve a truly global market.

PayPal was one of the pioneers of online payments and money management. Started in 1998, it has since grown to process almost 11.5 million payments daily. In addition to being one of the most trusted and widely used money transfer service, PayPal also allows you to pay from your credit card, make bank account payments, PayPal wallet and a PayPal credit line. PayPal also integrates with Hubstaff so you can automate payments and payroll.

Automate freelancer payments with Hubstaff's PayPal integration

Free for 14 Days

PayPal Mass Pay allows you to make mass electronic payments to multiple recipients with just one click.

  • Send money to multiple freelancers at once.
  • Competitive fees paid only when you send money.
  • Send payments to different countries.
  • Send payments in different currencies.
  • Track payments.
  • Pay freelancers quickly.

PayPal also offers a balance manager, which will automatically transfer money from your linked bank account to your PayPal account to ensure payroll is always funded.

Send payments securely with @PayPal Mass Pay, one of 7 easy ways to pay freelancers virtually Click To Tweet

3. Payoneer

What makes it special: Payoneer offers mass pay so you can pay multiple freelancers with easy. Mass pay can accommodate anywhere from 5 to 200 beneficiaries, so you can use it no matter how vast your freelancer network is.

Payoneer provides fast, flexible, secure and seamless cross-border payments. It was founded in 2005 and has since grown to serve businesses and professionals in more than 200 countries. Payoneer is the payment service used by popular freelance websites such as Upwork (formerly oDesk) and Elance. Payoneer integrates with Hubstaff so you can automate payments and payroll.

  • Freelancers can withdraw funds directly to their bank accounts.
  • Payoneer is regulated in the US and the European Union, and licensed to operate globally.
  • Pay in multiple currencies to different countries.
  • Send payments via credit cards, bank transfers, online wallets or international checks.
  • Save money with free transfers.
  • Funds are available quickly, as soon as 2 hours after initiating a transfer.
  • View detailed reports that include payment history, freelancer information, account history and more.

Learn more about Payoneer’s mass payouts.

Send virtual payments to more than 200 countries with @Payoneer. Click To Tweet

4. QuickBooks

What makes it special: Sync with bank accounts, track expenses with a user-friendly accounting software, get expert support and opt to have a professional accountant take care of your taxes.

Quickbooks is an accounting tool that also has a full-service payroll feature. Simply enter the hours worked and QuickBooks will do the calculations. You can opt to pay your freelancers via checks or free electronic deposits. After you’ve paid your freelancers, you can also have an expert accountant take care of your taxes for you. QuickBooks has a Hubstaff time tracker integration that allows users to send automatic payments and payroll.

Their payroll service comes with multiple features and unique benefits.

  • Pay freelancers by check or direct deposit. Print checks for free.
  • Free expert support via phone, IM, and email.
  • Get tax support and streamline taxes.
  • Automatic calculations; just enter the data and QuickBooks does the rest.

Learn more about QuickBooks full-service payroll.

Use @QuickBooks to pay freelancers, get 24/7 support, and manage payroll from recording to filing. Click To Tweet

5. Venmo

What makes it special: Sign up with Facebook, free to make payments from U.S. bank accounts, major debit cards, and Venmo balance.

Venmo is an online wallet that allows users to send money between Venmo accounts. Just connect your bank accounts or cards, load up your Venmo balance, and send payments to freelancers. This service doesn’t offer a fee calculation tool, so clients will have to determine how much to pay their freelancers manually. And it’s only available in the United States.

  • Pay from a bank account, major debit cards, or your Venmo balance.
  • Free to receive money.
  • Free to send money when using certain debit cards.
  • Freelancers can get money to their bank accounts within one business day.
  • Sign up with Facebook or email.

Visit Venmo.com to learn more.

Use @Venmo to get payments to freelancers within one business day. Click To Tweet

6. Dwolla

What makes it special: Just 25 cents per transaction, free for $10 and below. Easy-to-use and convenient within the United States.

Dwolla offers an easy, affordable, and secure way to pay freelancers virtually. At the moment, Dwolla can only be used to send payments within the United States. However, if the geographical limitations aren’t a problem, it’s a simple and effective way to pay employees. With a low standard fee of only 25 cents for $10 and above transactions, companies can easily afford to pay freelancers often.

  • Connect your bank account and pay freelancers easily.
  • Send payments with only an email address.
  • Build custom features with their open API.
  • Only one fee of 25 cents, paid by either the receiver (default) or sender.
  • Send mass payments of up to 5,000 transactions at once.
  • Send up to $5,000 (personal) or $10,000 (business). Apply for increased limits.
  • Freelancers can transfer money from Dwolla to their bank accounts in 2-3 days.

Learn more about Dwolla.

Send money for just $0.25 per transaction with @Dwolla, one of 7 easy ways to pay freelancers virtually Click To Tweet

7. Xoom

What makes it special: Simple to use, lock-in exchange rates, transaction tracking online or via text, email or 24-hour phone line.

Xoom is a money transfer service that operates in 32 countries and works with multiple currencies. It’s a straightforward service that will allow you to send money from your bank accounts or credit cards to a freelancer’s account. Freelancers also have the option of picking up their payments at specific locations, such as Western Unions. In some countries, Xoom also offers cash pickup and door-to-door deliveries.

  • Simple and easy money transfer service.
  • Cash pickups and door-to-door deliveries available in select countries.
  • Pay freelancers using a credit card or direct from bank accounts.
  • Send money to a bank account or pick-up location.

Learn more about how to transfer money with Xoom.

Pay freelancers direct to their banks or to a cash pick-up location with @Xoom. Click To Tweet

What are your favorite freelancer payment methods?

In this blog post, we covered our favorite freelancer payment methods, but we are always open and happy to learn from our readers. No matter whether you’re a freelancer, or someone hiring freelancers, share your favorite hacks and services in the comments below.