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April 16, 2021

How Liquid Works for Vendors, Freelancers, and Contractors

Learn how Liquid allows you to receive payments from Clients at no cost to you!

How Liquid Works for Vendors, Freelancers, and Contractors

Liquid News Finance and Accounting Freelancer Tips International Payments

Liquid is the fastest and most compliant way for businesses to contract and pay their contractors, freelancers, consultants, vendors, and suppliers worldwide. If you are a freelancer or contractor considering using Liquid, this post will help you learn how it works for you.

Do I need a Liquid account to receive payments?

Yes, freelancers, contractors, consultants, suppliers and other vendors who want to receive payments must have an account on Liquid. Also, your Client must also have an account on Liquid. 

What does it cost for me to receive payments in Liquid?

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It costs freelancers, contractors, consultants, suppliers and other vendors who want to receive payments on Liquid absolutely nothing. Clients pay a flat fee per invoice paid (charged to their account, not yours) and can choose to pay for a premium plan with a monthly fee. Vendors never pay a plan fee or any transaction fees.

So if you are getting paid $10 US, for example, and our fees are $8 per international Vendor payment, the Client will pay the $8 fee, and the Vendor will get $10.

Do I have to select a plan to receive payments in Liquid?

While Clients must select a plan, freelancers, contractors, consultants, suppliers and other vendors who want to receive payments do not have to select a plan. 

Must my Clients be located in the United States?

At this time, Liquid only supports payments from the United States.  

Does Liquid send payments to my country?

Liquid supports payments to 175+ countries worldwide, so chances are good we support payments to your country!  

How do I set up my Liquid account?

You can set up your Liquid account on your own without an invite from your Client. Once you have an invite from your Client, you can accept the invite. If you don’t have an account on Liquid at the time of the invite, you can create your account at the time of invite acceptance!

How can I get paid in my local currency?

International payments can be made in USD or in your local currency. You can let us know in your settings what your preference is (USD or local currency) and if your local currency is available for payments in Liquid, then you can receive payments in Liquid in your local currency. When payments are made in USD, your bank will convert the amount into your local currency for you (unless your bank account is held in USD).

In general, your bank will provide the exchange rate from USD to your local currency. However, if your Client has agreed to pay you in your local currency and we have turned on that feature for your country you may agree to Projects / Work Orders in your local currency as well as invoice in your local currency.

How do I add my US bank account to Liquid as a non-US-citizen / non-US-resident?

At this time, Liquid is only set up to do payments out to US banks for US citizens and US residents only. 

What’s the turnaround on Liquid processing payments?

From the time your client hits pay on the invoice, it can arrive in your bank account in as soon as 2 days. Sometimes, it can take 3-4 business days for payments to be complete to international banks. If the payment has to make a few different hops — client to Liquid, Liquid to an intermediary bank (when international), intermediary to final bank — then it can sometimes take up to 5 business days. 

What do I do if I have more questions about how Liquid works?

You may contact Liquid via our chat function (or via support@poweredbyliquid.com). You may also want to take a look at our FAQs page

Need help with Liquid? Use the chat to reach out to us anytime!

Sign-up to try Liquid today!

Category: Liquid News Finance and Accounting Freelancer Tips International Payments

Updated: April 22, 2021

Quick note: This is not to be taken as tax advice or legal advice or payroll advice. Since tax rules and laws change over time and can vary by location and industry, consult a CPA / tax advisor and/or attorney for specific guidance.

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