From the BlogSubscribe Now

Different Ways for Virtual Assistants to Accept Payments

When it comes to running a virtual assistant business, you will have to determine which methods you want to utilize to accept payments. Since most of the work will be done remotely, it would be wise to offer methods that allow you to get paid remotely as well, via the Internet.

However, some companies still prefer to do business with old school ways, and may not work with you if you do not have a payment method that they prefer. In the end, it is up to you to choose how to accept payments for your services.

Checks

Once a common method of payment, receiving checks in the mail is considered outdated by some. Some virtual assistants still offer this payment method to their clients. The downside is that you may have to wait up to a week to receive the check once it has been mailed by the company paying you. There may be additional waiting time if the check is for a larger amount that will take time to clear you bank. Checks also come with the possibility that they will bounce, leaving you unpaid for the work completed. However, with checks you avoid high PayPal fees and credit card fees. Depending upon which business you are working with checks can be a preferable method. Always wait until the checks clear before considering the payment received and you will avoid problems with overdrafts.

Credit Cards

Credit cards are an easy way for a business to send you money for your work. It will require that you to sign up for a merchant account with a credit card processing company. The downside of this is that there will be fees associated with using this type of service to accept payments for your virtual assistant business. It is vital that you shop around for the best deal on these companies before choosing which one to accept your money though. The benefits can be that you can often attract more business if you accept a variety of different type of cards.

PayPal

PayPal is probably the most common way for virtual assistants to accept payments for work completed. This company offers a safe and quick method for transferring money. Credit cards as well as money from other PayPal accounts can be accepted with this method. You will be protected in the event that your client tries to wrongfully get money refunded from your business. With a PayPal business account, you will be allowed to receive money in any amount. Invoices can be quickly created and sent using the member’s area of PayPal. A debit card can be obtained that will give you immediate access to your money upon payments. The downside are the high fees you will pay out of each payment received. However, the convenience might overcome downsides.

About Stephanie Watson

Mom | Wife | Virtual Assistant | Content Strategist
Stephanie has been working from home for over 20 years as a virtual assistant, template bender, and content writer. She's currently transitioning to business coach. You can learn more about her at her website http://www.barrypublishing.com.

Speak Your Mind

*

CommentLuv badge