The Tips And Tricks To Save Money While Getting Inward Remittance
As a freelance it is very important to understand international market. The exchange rate and internationals currency is always volatile. However, little effort to understand global market can be greatly lucrative.
Nowadays, everyone is eager to earn money from the comfort of the home. There are many ways and means to earn money easily if you are well-versed in one of the technologies. The writing, video marketing and digital marketing has been proved to be a boon for the people. The people have been receiving handsome amount money with far-less effort and time from the comfort of their home and computer. For many 9 to 5 jobs have been completely obsolete.
If you know some of the technology like website development, design and development then earning some bucks at home can be extremely easy. Writing has a plethora of opportunities in the overseas market. You can search on the Google as to the new technology by which the freelancer gets money. Some of the new comers in the field of freelancing face some problem in the beginning to receive money and even they don’t know as to how to save money from inward remittance.
We will guide you as to how to save money if someone send money to India from Australia or from any other countries of the world.
Understanding the exchange rate
If you are a new comer, you may not know as to the exchange rate. Before receiving money you should check the exchange rate on the internet. There are various portals that offers free checking of currency exchange rate. The portal xe.com is highly popular for the checking exchange rate of any countries in the world. If you know the exchange rate, then there is a possibility that no one can cheat you while getting money.
Finding the difference
You should not believe always on the xe.com as it offers only mid-market rate. Sometimes the bank may offer you the best rate than xe.com
Getting money by PayPal
Though PayPal is one of the best ways to remit money and receive money from across the world, it is expensive once it reaches your account. You will be surprised that even you lost almost 7% of the money after receiving money in your account.
Getting money by Western Union
The western union is one of the traditional companies in the world that helps getting money from the international market. Your client may transfer money to Sri Lanka or my remit it to Singapore Western Union does it very well. If you have demanded 100 USD, then you don’t need to pay extra charges. Your client is likely to bear all.
Receiving money by Wire transfer
Wire transfer is synonymous to bank transfer. It is a kind of electronic money transfer that remits money from one country to another country between 24 hours to 72 hours.
There are many other ways to receive money from the international market as a freelancer. However, you need to check which country is giving you more money. You may get more money for clients in the USA than Singapore since US dollar is more valuable than Singapore. Basically, you can get more money if you work for the clients in Europe, North America and Australia as well. Getting clients from USA, UK, Canada and Australia is easier than other countries.
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ABOUT THE AUTHOR
Blaine Fabi is a prolific writer in the field of writing who has great command over financial market of the world. He has been wring high quality and informative content for many online journals.