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5 Freelance Payment Methods in Singapore

Congratulations, you’ve landed some freelance gigs! Hopefully, it has been a job well done and it is now time for payment.

This stage can come right after the task is completed if it is an ad-hoc task. It can also be aggregated along with the fees for other commissions if you are on a monthly retainer with the client or have a long-term engagement.

Either way, you will need a reliable platform that is able to handle international transactions and currency exchanges. This is important because most of your clients are likely to be from other countries, as is common in the gig economy especially with remote services such as copywriting, design, or even video editing. 

You would also want a platform that handles all the above with low commission rates so they don’t eat into the profits you worked so hard for.

We understand, and we’ve gone ahead to do the research for you. Here are 5 great freelance payment methods you can use in Singapore!

Photo by Paul Felberbauer on Unsplash

1. PayPal

Setting up a PayPal Business account is easy and allows you to send and receive invoices, set up subscription services as well as make personal transactions. 

There are no monthly maintenance fees, and commission rates are fairly decent for small transaction amounts. If you are used to the PayPal Personal account and prefer to use a familiar platform, this may be for you.

Monthly maintenance feesNone
Commission rates per transaction3.9% + SGD $0.50 fixed fee for local payments, 4.4% + SGD $0.50 fixed fee for international payments
Withdrawal fees1%
Currency exchange fees3%
Time taken for transactions3 to 6 business days

2. Wise

Wise is an international financial wallet that carries 50 currencies. It allows for easy currency exchanges and has some of the highest conversion rates. Wise claims to be 3x cheaper than PayPal and significantly cheaper than a local bank in terms of international transfers. For example, at the time of writing, its given exchange rate from USD to SGD is 1.36, whereas PayPal converts the currencies at a rate of 1.31.

It is also regulated by the Monetary Authority of Singapore (MAS).

Monthly maintenance feesNone
Commission rates per transactionUSD 5.04 fixed fee + 0.44% variable fee
Withdrawal feesYou can withdraw the money for free twice a month if the amount falls below SGD $350.
Otherwise, there is a charge of SGD $1.50 per withdrawal transaction, with an additional 1.75% for amounts above SGD $350.
Time taken for transactions1-2 days

3. Friz

Friz is a financial solution designed for freelancers and creators. It includes an ecosystem of virtual debit, credit and invoicing tools at little to no cost.

Setup to begin receiving payment is hassle-free. Register for a free account from now till 31 December 2021. Thereafter, invoices issued will incur a token fee of 3% of transaction value. This is still lower than PayPal and most other service platforms.

The best part is that Friz allows you to receive payments upfront. Your client simply needs to approve the transaction via email, and Friz pays you upfront before the funds are transferred from their account. Say goodbye to late payments and tight cashflows with this handy feature that only Friz offers! 

What’s more, your clients don’t have to create Friz accounts – all they need to do is approve the invoices via email for the transactions to go through.

Monthly maintenance feesNone
Commission rates per transactionNormal – 3% to your Friz card, 5% if directly to your bank accountUpfront – 5% to your Friz card, 7% if directly to your bank account
Withdrawal fees1%
Time taken for transactions24 hours

4. MoneyGram

Another option for freelancers looking to receive payment in Singapore is MoneyGram. MoneyGram is known to be more expensive than PayPal or other payment options. Its fees vary greatly depending on the countries you are sending and receiving the money from, the amount being sent, and the mode of transfer. Generally, higher commission fees are charged for transfers to credit and debit cards compared to directly to the bank.

Monthly maintenance feesNone
Commission rates per transactionUSD 3 and above
Withdrawal feesNone
Time taken for transactionsRanging from within the hour to next day (depending on location)

5. Wire Transfers via DBS, UOB and OCBC

Wire transfers can be one of the cheapest and easiest ways to make international transactions. However, transactions are subject to commission fees from both the remitting bank and receiving bank accounts.

The fees for each of the 3 local banks on the receiving end are relatively standardised:

Monthly maintenance feesNone
Commission rates per transactionSGD $10 and fees from the remitting bank overseas
Withdrawal feesNone
Time taken for transactions2 to 5 business days


If you are planning to freelance for the long haul, you will benefit from Friz, a full payment ecosystem that provides low commission rates, flexible upfront payments, credit options and even rewards you for spending on daily expenses or freelance equipment. Enjoy low fees and never get late payments again with Friz. Sign up now to try it for yourself!

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