The gig economy is booming as workers look for alternatives or supplements to traditional employment. In fact, a 2023 study by the Upwork freelancer platform found that 64 million Americans (an incredible 38% of the workforce) performed freelance work that year.
Gig work appeals to a wide range of workers for various reasons. For example, you might:
- Freelance as a writer, designer, or social media expert because you value flexibility and professional freedom
- Side hustle as a rideshare driver to earn some extra cash outside of your day job
- Work as a delivery driver until a more permanent position comes along
- Babysit, mow lawns, or tutor kids to help with college expenses
Whatever your situation, all gig workers face a similar hurdle: getting paid.
While some workers have payments transferred to a checking account with a traditional bank, this isn’t the right fit for everyone. Luckily, from prepaid debit cards and digital wallets to platform paycards, there are several ways to get access to your earnings, even without a bank account. Learn about your options, as well as how to get paid quickly and manage your money as a freelancer.
Why some gig workers don't use traditional bank accounts
Before we discuss how to get paid online without a bank account, let’s consider why gig workers might need these alternatives to traditional checking and savings.
- No access to banking — You might not qualify for traditional banking services if you have previous banking issues (like a history of overdrafts), a poor credit score, or questions about your residency status.
- Lack of access to affordable banking — Some banks charge monthly fees and/or transaction fees. Some might also require you to maintain a specific minimum balance to avoid fees.
- A mistrust of banks — You might simply not trust traditional banks to take care of your money.
- A need for privacy — In some cases (such as relationships with financial abuse), it is important to keep earned money separate from joint bank accounts.
- Desire for financial independence — Students, for example, might not be ready for their own bank accounts, but they also don’t want their earnings to be lumped into their parents’ account.
Whatever your reason, the lack of a bank account shouldn’t cost you convenience or security when it comes to getting paid for your work.
Payment options for freelancers and gig workers without a bank account
Option 1: Direct deposit to a prepaid card
Prepaid cards are payment cards that you can load funds1 to directly, rather than linking the card to a bank account. You can use them much like a debit card to make payments in stores and online. However, because you can’t spend more than the amount loaded to the card, you can get a prepaid card without a credit check2, and you get to avoid debt and expensive interest payments.
So, a prepaid card for freelancers represents the convenience of a credit card without the credit requirements or financial risk.
The most convenient prepaid card for gig workers is one that:
- Accepts direct deposits from popular gig apps and freelancing platforms, like Uber, DoorDash, and Upwork.
- Provides a mobile dashboard so you can monitor your balance and transactions.
- Offers early access to your direct deposits (some cards will make your funds available up to 2 days faster4 the moment a payor initiates the payment, rather than waiting a day or two for the payment to “clear”).
- Is part of the widely-accepted Visa® or Mastercard® network (which means it can be used everywhere Visa® and Mastercard® are accepted).
- Has reasonable fees3, clearly disclosed.
- Doesn’t require a minimum balance.
For example, the Netspend® Prepaid Card offers all of the above. Plus, you can order your card online for $0 (or pick one up at your nearby CVS, Walgreens, Kroger, or 7-Eleven for under $10 if you need it today).
For use and accessibility, prepaid cards are one of the most convenient ways to get paid online.
Option 2: Use digital wallets
Digital wallets, like Venmo, Cash App, PayPal, and Apple Cash, can accept and hold payments, allowing you to receive, store, and spend money without a traditional bank account.
Gig workers and freelancers can have clients and platforms send payments directly to their digital wallets. These wallets work best when the person or company paying you already has an account and can quickly transfer funds within the app. For example, if you and your client both use Venmo, it’s easy for them to send you funds immediately.
If your client doesn’t have the same digital wallets you do, you might find a workaround. For example, with PayPal, you can send an invoice to the client, and they can pay the invoice by credit card, even if they don’t have a PayPal account.
Spending the money might be more difficult because some places, like some retailers and restaurants, don’t accept digital wallet payments. However, if you have a prepaid card, you can add funds to your card from the digital wallet. That way, you can simply use your card to make purchases as needed.
Option 3: Receive paycards from gig platforms
Some platforms issue their own paycards to workers. Examples include Uber’s Pro Card, DoorDash’s Crimson Card, Instacart payment cards, and Amazon Flex cards. These cards work very much like prepaid cards. The platform loads your earnings to the card, providing instant payment for freelancers and gig workers after each assignment, task, or workday.
While this can be a good option for getting paid quickly, there are limitations. For example, there might be fees associated with the card. Also, these types of cards typically only accept deposits from their issuing platform, so you might not be able to reload the card yourself. This can make money management cumbersome because you might have multiple cards to juggle, and you have to keep track of the balance on each card instead of focusing on one universal prepaid card.
Option 4: Accept cash for in-person jobs
While cash isn’t a practical way to get paid for remote gigs, it still has a place in the gig economy when work is completed in person. Cash is common for jobs like babysitting and lawn care. Your client just needs to know that you prefer cash, so they can be prepared with cash on hand when you arrive.
You can spend the cash as-is, but you also have the option to digitize it by loading the cash to a prepaid card. For example, the Netspend® Prepaid Card accepts cash reloads at over 130,000 retail locations1 nationwide.
Option 5: Use money transfer services
This option may be less common, but you can receive gig work pay via money transfer services like Western Union and MoneyGram. This is especially helpful when you have international clients who don’t use the same banking system and financial products as Americans.
With money transfer services, your client can initiate international payments through the service’s website or at a storefront location. You receive a pick-up code that allows you to collect your payment, typically in cash, at a retail location near you. From there, you can spend your cash or load it to your prepaid card to securely store the funds digitally.
Managing freelance income with a prepaid card
Because of the flexibility and user-friendly features, prepaid cards are an incredibly useful financial tool for gig workers, especially for those without a traditional bank account.
Prepaid cards can serve many of the same financial functions as a checking account. You can:
- Receive payments via direct deposit
- Pay bills
- Shop online
- Withdraw cash using the card
- Track your income and expenses spending
Netspend® offers features tailored to freelancers, including early access to deposits (get paid up to two days faster4), access to a mobile app for convenient money management, text alerts, and budgeting tools. And, with no credit check2, and no minimum balance required, a Netspend® Prepaid Card works well for a wide range of gig workers and freelancers.
Flexible payment solutions for gig workers without traditional bank accounts
The gig economy is built on flexibility, and that should extend to your payments. Whether you’re freelancing full time, gigging temporarily, or side hustling in your spare time, you deserve payment options that match your lifestyle and financial needs.
Fortunately, getting paid without a bank account is more accessible than ever. From prepaid debit cards and digital wallets to platform-issued paycards, cash, and money transfer services, gig workers now have multiple ways to receive earnings quickly, securely, and conveniently. These alternatives can help you avoid high banking fees, bypass minimum balance or credit requirements, and access your money faster.
Explore your bank-free freelancer payment options and choose one (or more) methods that work for you.
