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3 min read

3 Ways Deel Enables Contractors to Access Money Faster Than Any Other Platform

Contractor management

Author

Stefana Zaric

Published

November 18, 2022

Last Update

July 05, 2024

As a contractor, payment delays are often more than inconveniences. Whether ensnared by a bank holiday, weekend lull, or processing delays, these delays can pose serious threats to your financial stability and leave your finances in peril. Alarmingly, traditional banks and payroll teams may take up to seven grueling business days to rectify such issues, leaving you in a precarious and vulnerable position.

Deel’s mission has always been to create a world where all workers can access the best opportunities and experiences regardless of location. To tackle the problem of receiving international payments and level the playing field for developing countries, Deel developed three flexible solutions that contractors can leverage whenever they want their funds faster:

  • Instant Card Transfers
  • Deel Card
  • Deel Advance

Instant card transfers

Instant card transfers leverage the Mastercard and Visa networks to deposit money directly into your bank account in seconds. Deel launched Instant Card Transfers in the second half of 2022 and made it available in dozens of countries:

Andorra, Armenia, Austria, Azerbaijan, Bahrain, Belgium, Bosnia and Herzegovina, Botswana, Bulgaria, Cambodia, Cape Verde, Cayman Islands, Chile, Cook Islands, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, Greece, Hungary, Iceland, Indonesia, Israel, Italy, Kenya, Kuwait, Kyrgyzstan, Latvia, Lesotho, Macedonia, Malawi, Malaysia, Maldives, Malta, Mexico, Moldova, Montenegro, Morocco, Namibia, Netherlands, New Zealand, Norway, Oman, Portugal, Qatar, Romania, Senegal, Serbia, Seychelles, Singapore, Slovakia, Slovenia, Solomon Islands, South Africa, Spain, Sweden, Taiwan, Tajikistan, Thailand, UAE, United Kingdom, US, Uzbekistan, Vietnam. Find updated availability on the Deel help center.

As of November 2023, it’s also available for US contractors.

90% of Instant Card Transfers finalize within 15 seconds or less and you can instantly spend or withdraw your funds—no additional holds, delays, or processing needed.

You’ll only be charged a small fee of up to $15 for this service: no hidden fees, no delays, no payday uncertainty.

Follow our Help Center guide to learn how to use the Instant Card Transfer.

Deel Card

The Deel Card is a fast and familiar way to make purchases. With the Deel Card, you can spend directly from your Deel balance as soon as you get paid in the Deel platform. You can use the virtual Mastercard to make online purchases or order a physical card to make in-person purchases.

The Deel Card can be used as a debit card without the hefty fees usually charged by banks. It gives you accessible global purchasing power and freedom to spend the money however you like, and it’s easy to top up on the go.

Your Deel Card balance is held in USD, enabling you to make purchases in countries with less stable currencies, such as Argentina, so you can make the most out of your paycheck by getting it in a more stable currency.

The Deel Card is available to active and verified contractors in supported countries. To start using the Deel Card, simply transfer some or all of your Deel balance to your Deel card balance. You can then activate your virtual card with a $5 fee. Physical Deel Cards are available in select countries, including Argentina, Colombia, Mexico, Nigeria, Serbia, the UK, and the US.

The Deel Card supports Google Pay, and contractors can add their cards to the Google Wallet app. The Deel Card also supports Facebook Pay / Meta Pay. The Deel Card does not support Apple Pay at this time.

See more details about the Deel Card in our Help Center.

Deel Advance

For urgent expenses, you can turn to Deel Advance to get a short-term advance on your paycheck. 

Deel Advance unlocks even more payday flexibility for contractors, and because Deel Advance is not structured as a loan, there’s no credit check, loan application, or interest rate required. It’s designed to be a strategic tool that provides contractors with flexibility and control of their cash flow without the usual complications of traditional loans or payday loans.

When you request a Deel Advance, we’ll set up an agreement to unlock a set amount of funds in exchange for an agreed amount of your future earnings, which is collected automatically from your scheduled client payments. Once your Advance request is approved, you can access it instantly in your Deel balance and withdraw it to your preferred bank account or card.

You can access up to $50 USD fee-free each paycheck. For advances over $50, Deel charges a fixed fee (minimum fee of $10). Transparency is key, so before you request an Advance, you’ll always see a full breakdown of any fees in your dashboard.

You’re eligible for the Deel Advance if:

  • You’re paid via a fixed or Pay As You Go contract on Deel
  • You have an active Fixed or Pay As You Go contract for at least two months
  • Your Deel account is verified (with all required compliance documentation)
  • Your contract is not terminated or pending termination

Visit our Help Center to see the exact steps to requesting a Deel Advance.

Enjoy financial peace of mind with Deel’s instant payments

Life is unpredictable, and instant access to your money can provide much-needed peace of mind. Deel is committed to enabling exceptional talent to work from anywhere in the world, and that starts with exceptional contractor payment solutions like Instant Card Transfer, Deel Card, and Deel Advance that offer flexibility and efficiency in your day-to-day work.

Use Instant Card Transfer, Deel Card, and Deel Advance to manage your finances your way. Sign up for Deel today!

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