After you haveaccomplished your work, it is inevitable that you would look forward for thefruits of your hard work. But there are times; unexpected things happen likeclients will not pay your service. A client that pays his/her worker isdifferent from a client that does not pay. It is your obligation to work forthe client and a client to give the result of your labour especially when youhave produced a good quality of output.
Clients who compensate late tend to dothat because of insufficient funding for the project or there were somemodifications with your work and they were waiting for the revised version ofthe project then the payment will come after such. Certainly if you are intofreelance world, there will be non-paying clients. So as a transcriptionist,how can you avoid working with those kinds of people? Here are some tips on howyou can avoid non-paying clients:Conduct a thoroughresearch about your prospective client. Before you actually apply to a specificjob, it is good that you will check the identity of your client. You must makesure that you have the full contact details including postal address and phone number.A professional client provides these at the footer of their E-mail. If thebusiness name does not appear in the search result, do not hesitate to ask theclient for more details.
Since this is on freelance case, you are free to knowthe general public opinion about him/her. You can visit freelancer forums to dothat. If a potential client is based on acquaintances, you can ask yourfriends’ opinion because they might know more information about the client.Make sure that youhave signed a written contract. If you will be working as a freelancetranscriptionist, you should sign a contract before you start working. If thereis no written agreement, it is impossible to force the client to pay you by anylegal measures.
It is a legal proof that you and your client have mutuallyagreed upon certain terms and conditions. It must includes and explicates the reciprocalobligations between you and your client, nature of relationship, taskdescription, transcription rates (payment schedule), standards for workperformance (penalties for failing to meet the work standards), procurement ofequipments needed for the job, etc. If this will be in a form of project,indicating the scope and milestone should be present in the contract. So, donot start working without a contract.
It is okay that youwill ask for a down payment as you start with the project. It can be apercentage of your final fee. This is also normally done if you will be in fixrate basis and especially if the client is new. Make sure to put thearrangements in writing. This topic willdiscuss the common methods on how online workers receive their payments. As atranscriptionist, there are ways or methods on how you can be paid by yourclients. This is generally called payment system.
This is used to settle orcomplete a certain financial transaction for any type of business. It is theprocess of transferring monetary value to compensate a specific service orproduct. The exchanging of such value is possible through the involvement of institutionsas well as financial matters are concern, instruments, people, rules,procedures, standards, and technologies.Let’s take a look atfirst the paper-based payment. This involves the presence of a check. Forinstance, Company X has a team of online transcriptionist.
The company pays itscontractors every 5th and 20th of each month basedon the completed work of the contractor within the said period. The work is being calculated through an invoice or productionsheet. After two to three business days, the transcriptionists are free to gettheir checkpayment in the physical office. They can also requestfor the deposit of the amount in their officialbank account.In this digital age,the technology plays a huge role to execute payment processes. The electronicpayment system is entirely utilized because it gives security and convenienceto both client and service provider. Therefore, online banking was created.Financial institutions conduct transactions in a secure website.
The transactionsare secured by a username and password. For the clients to be able to pay theironline workers, they are using different online payment solutions. Thus, theprocess of sending and receiving payments become faster and easier. The two popularpayment solutions are Payoneer and PayPal. They are both well established andtrusted company.
However, there are a lot of client websites utilized PayPal astheir payment processor. So as an online worker, all you have to do is toconnect your PayPal account in a particular website. However, there are clientswho are also asking their online staffs’ E-mail address for the payment to besent and this is a good thing with PayPal users. Clients do not need to knowyour bank details. When it comes to Payoneer users, before a payee receiveshis/her payment, he/she needs to create a payment request to the client usinghis/her Payoneer account. A client will receive the payout request in his/herE-mail address.
The email will contain the details of the payment and a link tothe Payoneer online payment application. Then, the client needs to open thelink and enter some details as well as the credit card information to thecomplete the payment. Finally, an E-mail confirmation will be sent to both partiesto confirm the completion of payment process.And for you towithdraw the funds that have been deposited by the client, you can link yourcredit card and local bank account.There are charges asyou withdraw funds from any payment solution you are using.
These depend on thepayment processors’ and banks’ policy. For example, when a person who usesPayPal withdraws an amount that is less than P7,000.00, a certain charge willbe applied.
But if more than the said amount, no fees will be collected. Butthe transferring process with PayPal takes three to five business days. Whilewith Payoneer, it only takes two to three business days for the amount to be transferredto your local bank account. Withdrawing money from your Payoneer account to abank account in a different currency will cost you up to 2% above themid-market rate. If you are moving money into your bank account in the samecurrency you will pay $1.50 or P75.00 for the transaction.
Therefore, everycharges that these online payment services providers impose are subject to modificationsdue to the result of exchange rates.