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Working as a virtual assistant is an excellent way to earn in dollars and access international clients. However, one of the biggest challenges is receiving international payments without losing money to excessive fees.
If you're tired of platforms like PayPal or Payoneer reducing your earnings, this blog shares efficient alternatives to optimize your payments. Plus, we'll explain how creating an LLC in the United States can be the key to improving your income and avoiding unnecessary fees.
1. Common Challenges in Receiving Payments as a Virtual Assistant
Virtual assistants often face several obstacles when receiving international payments:
High Fees: Platforms like PayPal and Payoneer charge fees that can exceed 5%.
Prolonged Wait Times: Some international payment methods take 3 to 5 business days.
Currency Conversion: Receiving payments in a foreign currency incurs additional costs due to exchange rates.
Local Banking Restrictions: In some countries, international transfers are complicated and expensive.
2. The Best Platforms for Receiving International Payments
2.1 Wise
Benefits: Low fees, excellent exchange rates, and fast transfers.
Ideal for: Receiving payments in multiple currencies without conversion losses.
2.2 Payoneer
Benefits: Widely accepted on platforms like Upwork and Fiverr.
Ideal for: Freelancers and virtual assistants working with clients in the U.S. and Europe.
2.3 PayPal
Benefits: Globally recognized and trusted platform.
Disadvantage: High fees, especially for currency conversions.
2.4 Global66
Benefits: Low-cost transfers and reduced wait times.
Ideal for: Professionals in Latin America seeking to save on fees.
2.5 International Bank Transfers
Benefits: Traditional, reliable method, directly to your bank account.
Disadvantage: High transaction fees and long wait times.
3. Why Create an LLC in the United States as a Virtual Assistant?
6. Benefits of Receiving Payments Through an LLC in the U.S.
Eliminate Intermediaries: Improve your margins by avoiding costly platforms.
Earn in Dollars: Protect your income from devaluation.
Increased Credibility: Build trust with international clients.
Tax Optimization: Access deductions and avoid double taxation.
Conclusion
Receiving your payments efficiently as a virtual assistant can significantly impact your income. While platforms like Wise, PayPal, or Payoneer are viable options, opening an LLC in the United States offers greater benefits: faster payments, lower fees, and enhanced credibility with clients.
At Prodezk, we help you create your LLC, open a U.S. business bank account, and optimize your earnings. Take the next step and start receiving your international payments without complications!