Contractors on Contra have various payout options available to receive payments for their services. This article provides an overview of the payout options offered to contractors on Contra, including supported countries, payout methods, and considerations for selecting the most suitable option.
Supported Payout Countries
Contractors in more than 200 countries & territories can access a range of payout options facilitated by Contra's integration with Stripe, PayPal, Payoneer, and USDC.
See full list breakdown here.
Payout Options for Contractors
Contractors can choose from various payout methods to receive their earnings on Contra.
Here's an overview of the available payout methods:
Bank Transfer via Stripe: Contractors can opt to receive their payouts via bank transfer, with funds deposited directly into their bank account. Bank transfer offers a secure and convenient method for receiving earnings.
- Fees: 1% currency conversion fee for non-USD transfers charged by Stripe. Transfers to a US bank account are free.
- Payout timeline: Bank payouts usually take 2-5 business days to reach a contractor's account. The first payout may take up to 10 business days. Subsequent payouts are faster.
Debit Card (USA Only): Contractors located in the USA have the option to receive payouts directly to their debit cards, providing quick access to their earnings
- Fees: There are no fees when transferring to a debit card.
- Payout timeline: Debit payouts usually take 30 minutes to reach a contractors linked account. This can sometimes take a few hours.
USDC Crypto: Contractors in most countries can choose to receive payouts in USDC crypto, offering benefits such as decentralization, low transaction fees, and fast processing times.
- Fees: Ethereum network gas fee - typically 0%.
- Payout timeline: Instant, typically within a few minutes.
PayPal: While most contractors have access to PayPal for payouts, there may be exceptions or limitations based on their location or other factors.
- Fees: 2% fee charged by PayPal for withdrawals from Contra to PayPal.
- Payout timeline: Typically within a few minutes. Timelines vary.
Payoneer: Contractors in almost every country can choose to pay out with Payoneer. Payoneer is best for global Contractors looking to withdraw to a USD bank account.
- Fees: withdrawals from Contra to Payoneer have a flat $3 fee. Additional fees may be charged at the time of withdrawing funds from Payoneer to an external account. These fees are charged by Payoneer and are dependent on an individuals location.
- Payout timeline: Typically within a few minutes. Timelines vary.
Contra List of Supported Payout Methods by Country: Payout Methods for Freelancers
In conclusion, contractors on the Contra platform have access to a range of payout options to receive their earnings securely and efficiently. By understanding the supported payout countries, available payment methods, and considerations for selecting payout options, contractors can effectively manage their earnings and choose the most suitable payout method for their needs.