A Contractor’s Guide to Deel’s Flexible Payment Terms

As an independent contractor, you can choose when you work, what you work on, and who you work for. 

And in 2024, your payment options should be just as flexible.

With Deel, they can be.

While contractors and their clients can choose to manage payments off-platform, Deel offers a variety of withdrawal methods and contract terms to suit your location and preferences, so you can manage everything in one place.

Here’s how Deel helps make contractor payments as simple, efficient, and compliant as possible.

Deel’s contract options

On the Deel platform, contractors and clients can choose to generate compliant contracts, selecting the agreement type that best suits their business relationship and payment needs. This includes Fixed, Milestone, or Pay As You Go terms.

Fixed payments

With Fixed payment contracts, you and the client come to an agreement on a fixed rate for the work to be done, which is then paid out every pay cycle. The payment cycle, and the date on which the payment will be made, are mentioned in the contract. 

These cycles can be weekly, bi-weekly, every other week, or monthly, depending on what has been agreed upon by both parties.

Milestone payments

A milestone contract establishes specific points of achievement or completion in a project. Instead of paying a lump sum upfront or upon project completion, payments are made at predefined milestones. With Deel, clients can pay on a one-time or per-project basis with as many payment milestones as needed.

Pay-As-You-Go payments

When you work on a Pay As You Go contract, your payment rate is variable and depends on factors such as hours worked or tasks completed. To receive payment, you need to submit your hours through Deel for approval by your client. 

If you have any bonus, expense, overtime, or other adjustment types, you can adjust your invoice accordingly for each payment. Your client can then approve the hours and add a bonus. If applicable, your client can also update hours by CSV upload.

Access funds early with Deel Advance

Verified contractors on Fixed or Pay As You Go contracts are eligible for Deel Advance.

Deel Advance is an agreement between the contractor and Deel, wherein the contractor receives a cash advance of their earnings. This is not a loan—there is no interest rate and Deel does not run any credit checks.

Contractors can easily initiate a Deel Advance request through their Deel account, streamlining the process for quick accessibility. Upon approval, the Advance payment is deposited into the contractor's Deel balance, ensuring a rapid turnaround for urgent financial needs.

When the contractor receives their next scheduled payment from their client, Deel collects its funds along with a small fee. This automated process eliminates the hassle of manual repayments, offering convenience to the contractor.

Contractors are allowed only one outstanding advance at a time. Once repaid, they have the flexibility to request a new advance as needed, aligning with their unique financial requirements.

Learn more: Frequently Asked Questions About Deel Advance

Deel’s flexible payment options

Deel offers you the flexibility to choose how you want to receive payments based on your location, local payment regulations, and preferred withdrawal method. Although there are various options available for contractors to receive payments outside of the Deel platform, the on-platform options are more efficient and easier to use.

Deel Card

Withdrawal ETA: Instant
Supported currencies: USD

The Deel Card offers verified and active contractors a streamlined way to manage and spend their earnings with a universally accepted payment method. 

The Deel Card supports popular payment platforms like Google Pay and Facebook Pay/Meta Pay, offering flexibility in spending. Contractors can seamlessly integrate their card into the Google Wallet app, enhancing their payment options. Apple Pay is not currently supported.

For contractors working in countries with less stable currencies, like Argentina, the Deel Card provides a solution. By receiving their paycheck in USD, workers gain stability and maximize the value of their earnings. This not only shields them from currency fluctuations but also opens up infinite global spending capabilities—online or in-person. 

Virtual Deel Cards are available in 73+ countries. Eligible contractors in the following countries can also request physical Deel Cards:

• Argentina
• Colombia
• Mexico
• Nigeria
• Serbia
• United Kingdom
• United States

Virtual card fee: A minimal $5 fee
Physical card fee: Varies by location but is typically $10
Transaction fees: There are no transaction fees on USD transactions. However, a 1.25% fee applies to all non-USD transactions.

See also: What is the Deel Card?

Deel Instant Card Transfer

Withdrawal ETA: Instant
Supported currencies: Depends on country

Deel Instant Card Transfer provides immediate access to your balance through a card-to-card transfer. To utilize Deel Instant Card Transfer, contractors must possess a Mastercard or Visa debit/credit card linked to a bank account. 

Unlike traditional bank networks like SWIFT, Deel Instant Card Transfer leverages the reliability and speed of MasterCard and VISA networks to deposit your withdrawal into your card-connected bank account within seconds. 

In contrast to some countries that only support SWIFT, which is costly and time-consuming, Deel Instant Card Transfer operates seamlessly worldwide and is unaffected by bank holidays. 

Note: Since the transfer time depends on the recipient's bank, in some cases, it may take a few hours for the bank to credit the funds.

Outside the US: A nominal fee of 2%, with a minimum withdrawal amount of $5 USD and a maximum of $15,000. The maximum fee is capped at $15 USD, plus any applicable foreign exchange rates.

Within the US: A low fee of 0.4%, coupled with a minimum withdrawal amount of $5 USD and a maximum of $5,000. The maximum fee is $50 USD.

Deel Instant Card Transfer is currently available in the following countries:
Andorra, Armenia, Austria, Azerbaijan, Bahrain, Belarus, Belgium, Botswana, Bulgaria, Cambodia, Cape Verde, Cayman Islands, Chile, Cook Islands, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Dominican Republic, Estonia, Finland, Georgia, Greece, Honduras, Hungary, Iceland, Indonesia, Israel, Italy, Kazakhstan, Kenya, Kuwait, Kyrgyzstan, Latvia, Lesotho, Lithuania, Macedonia, Malawi, Malaysia, Maldives, Malta, Mexico, Moldova, Montenegro, Morocco, Namibia, Netherlands, New Zealand, Norway, Oman, Peru, Philippines, Portugal, Qatar, Romania, Senegal, Serbia, Seychelles, Singapore, Slovakia, Slovenia, Solomon Islands, Spain, Sweden, Taiwan, Tajikistan, Thailand, UAE, Ukraine, United Kingdom, United States, Uzbekistan, Vietnam

Deel is expanding the Instant Card Transfer feature to more countries and currencies. Refer to this article for the most up-to-date availability.

See also: How to use Deel Instant Card Transfer

E-wallets

An e-wallet, short for electronic wallet, is a digital tool that provides a convenient and efficient way for individuals to make electronic payments, transfer funds, and manage their financial resources digitally. 

Through our user-friendly portal, contractors have the freedom to choose their withdrawal method and currency. Whether it's utilizing Coinbase for crypto transactions, or opting for platforms like Paypal, Revolut, or Wise, we provide an extensive array of options. 

Wise

Withdrawal ETA: Up to 1 business day
Supported currencies: AUD, CAD, EUR, GBP, NZD, SGD, USD

Wise is an international payment method with a typically low exchange rate, allowing local bank payouts in 40 currencies and 160 countries. Deel does not charge a withdrawal fee for Wise, though separate transaction and exchange fees may apply.

Coinbase

Withdrawal ETA: Usually in minutes, up to 1 business day
Supported currencies: BTC, DASH, ETH, SOL, USDC

Coinbase allows businesses to transfer funds globally using digital currencies. With lower fees (1.5% cost to contractors) and the potential for increased security and privacy, Coinbase presents a modern and efficient alternative to traditional international money transfers.

PayPal

Withdrawal ETA: Up to 1 business day
Supported currencies: USD

Known for its user-friendly interface, fast transaction processing, and the ability to link various funding sources, PayPal offers a reliable and widely-used payment solution for contractors. Deel enhances the flexibility for contractors by allowing them to withdraw funds from their Deel balance into their PayPal accounts. The transaction fee is 2.5% (minimum $0.25 USD).

Payoneer

Withdrawal ETA: Up to 1 business day
Supported currencies: USD

Payoneer, a global payment platform, offers advantages such as fast and secure transactions, competitive exchange rates, and a 1% fee. Through the Deel platform, international contractors can easily withdraw their funds from their Deel balance to Payoneer, leveraging various payment solutions including virtual accounts, prepaid cards, and e-wallets.

Revolut

Withdrawal ETA: Up to 1 business day
Supported currencies: USD

Revolut, a digital banking platform, serves as another cost-effective option for cross-border transfers with a withdrawal speed of up to one business day. Revolut provides a user-friendly mobile app, convenient account management features, and additional services like multi-currency wallets and virtual debit cards. Contractors using Deel can select Revolut as a withdrawal method within their Deel accounts with no withdrawal fees.

Local bank transfer

Withdrawal ETA: 1-5 business days
Supported currencies: 180+

Local bank transfers involve sending funds between bank accounts within the same country, eliminating the complexities and fees associated with cross-border transactions. These advantages make handling domestic payments efficient, with no cost to the contractor and a withdrawal time of one to five business days. 

Please note that most payment providers, especially banks, do not process payments on weekends and public holidays. 

International bank transfer/SWIFT

Withdrawal ETA: 5-7 business days
Supported currencies: 180+

SWIFT is a global network used for transferring money between financial institutions worldwide. Many companies use this network to pay their contractors through international bank transfers, as it has around 11,000 bank members in approximately 200 countries. 

The SWIFT withdrawal method may use multiple intermediary banks to process international payments, which can result in unpredictable processing fees. Neither Deel nor your own bank can predict these fees, and they may be deducted from the final received amount.

Enjoy flexible payment terms with Deel

As a contractor, you should have the power to choose when and how you receive your earned wages (as long as it complies with local payment regulations). 

While Deel isn’t the only payment solution available, it will enable you to be paid more easily and quickly compared to many other methods. Plus, as an all-in-one platform, you can manage everything from contracts and payments to expenses and tax forms in one centralized place.

Sign up to see how smooth the payment process can be.