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An Overview of Money Transfer Agents & Payment Processors

Money Transfer AgentsFor most of the work at home freelancers, the biggest dilemma is about how to get payment from the global buyers. Well, it is true that freelance service providers like you and I ought to know how to receive the money even before taking up any job on freelancing sites. While receiving the money from overseas suppliers, security of Internet money transactions, theft of identity and online credit card and debit card frauds pose the maximum causes of worry.

E-Money or electronic payment processing is the biggest gift of modern technology. It wasn’t until the early part of twenty-first century that online jobs became popular among the service providers throughout the world. Western Union Money Transfer and Wire Transfer were regarded as the only reliable sources for the overseas Indian and Asian workers for sending their hard-earned money to their beloveds at remote places in India and Asia. However, for the online freelancers, nowadays, there are many alternatives such as PayPal, Moneybookers and AlertPay, among other, for the electronic money management.

PayPal is one of the most popular methods of doing business for the online freelancers all over the world. On the realm of freelancers, PayPal is considered as the safest alternative as a third party for sending, receiving and withdrawing money. It has a very user-friendly website with which you can safely perform all the Internet money transactions. Signing up with PayPal is easy. What you all need is a genuine email address. There are certain restrictions on sending and withdrawing money if your account is not verified by registering a credit card or debit card.

Sending money is generally free but the charges for receiving money into your account may vary with different factors such as geographical locations, amount and the type of account. As a thumb rule, the charges work out to around 4% of the transacted amount subject to a minimum of 0.3-0.5 dollar per transaction. Charges for withdrawing the money into your bank account would depend upon the amount. Besides, you have to pay an amount of the order of 3% of the exchange rate, if you want to withdraw money into the currency of your country.

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