Stop losing money on international payments: the Storspay freelancer masterclass
Our CTO’s 13-minute masterclass for African freelancers: see the true cost of getting paid, invoice like a company, hold what arrives, cash out same day.
Read this guide in Français
On 30 October 2026, Storspay’s Chief Technology Officer, Bhavneesh Goyal, ran a live session with the African Freelancers community. We edited it into a 13-minute masterclass. Every new Storspay freelancer gets it. Watch it, then flip through the slides below.
What you’ll learn
| You’ll be able to | |
|---|---|
| 1 | Read the true cost of any way of getting paid — the fee and the rate together |
| 2 | Invoice like a company, with USD, EUR, GBP or CAD account details in your own name |
| 3 | Decide when to hold dollars and euros, and when to convert |
| 4 | Cash out and pay others at one all-in rate, without a bank wire |
Part 1 — Where the money goes today
Every payment has two costs. Most people only see one.
- The fee. It is printed on the receipt.
- The rate. The gap between the mid-market rate and the rate you were given. It is never printed, and it is often the bigger number.
True cost = fee + (mid-market rate − your rate) × amount.
The 30-second check: search the currency pair, note the mid-market rate, and compare it with the rate on your statement.
What a US$1,000 invoice actually nets (from the session):
| Way of getting paid | Cost | Time | You keep |
|---|---|---|---|
| Bank wire | US$25–50 fee + 2–4% rate gap | 3–5 days | ≈ US$910–950 |
| Payout platform or card | A fee and a spread — read both lines | 1–3 days | Depends on both lines |
| Storspay account in your own name | Receiving free · cash out 2% all-in | Same business day | ≈ US$980 worth |
Five questions before you accept any payment
- What is the fee — in money, not in %?
- What rate am I getting versus the mid-market rate?
- Am I being converted without asking?
- How long until I can actually use it?
- Can I pay someone else from it without starting over?
Part 2 — Getting paid like a company
Storspay gives you account details in your own name, so your client pays you the way they pay any local supplier.
| Currency | What happens |
|---|---|
| USD | Held as US dollars. US clients pay by local transfer. |
| EUR | Held as euros. EU clients pay by SEPA transfer. |
| GBP | Converts once to USD on arrival. UK clients pay by Faster Payments. |
| CAD | Converts once to USD on arrival. Canadian clients pay by local transfer. |
What to put on your invoice
- Your name exactly as on your ID
- Account details for your client’s currency
- The invoice number as the payment reference
- A clear due date — “net 30”
- No card links or “pay via” instructions
Verify once. A sole trader verifies with a government ID and a selfie — a few minutes on a phone. A registered business uses its company documents and the owner’s ID. After that, you do not send documents with every payment. Storspay accounts are for business payments — invoices from your clients.
Part 3 — Keeping what arrives
Money lands in the currency your client paid. Nothing is converted on arrival unless the currency is GBP or CAD. Holding is free.
| Convert now | Hold | Never on landing day |
|---|---|---|
| Money you need in local currency this month — rent, salaries, suppliers. | Money you’ll spend in that currency — software, a laptop, a subcontractor abroad. | Don’t let a provider pick the day for you. |
This is practical bookkeeping, not investment advice.
Part 4 — Cashing out and paying others
Prices from storspay.com on 30 October 2026:
| What you do | Price |
|---|---|
| Receive USD, EUR, GBP or CAD | Free |
| Cash out to your bank or mobile money | 2% all-in · 1% all-in (min $2) to India, Indonesia, the Philippines and Thailand |
| Pay another Storspay user | Free and instant |
| A typical bank wire, for comparison | 5–7% and 3–5 days |
A US$1,000 invoice becomes about US$980 worth in your local bank or mobile money, the same business day. Same price for everyone — no tiers.
Want to see it before you sign up? Try the freelancer account simulator at storspay.com/freelancers/#try — no sign-up needed.
Four things to do this week
- Check the rate. On your last payment, add the fee and the rate gap. Write the true cost down.
- Fix the invoice. Put account details in your own name on the next one.
- Hold on purpose. Decide what you’ll convert this month and what you’ll keep.
- Pay without a wire. Move your next subcontractor payment on Storspay.
The slides
Read the deck right here, or download the PDF.
Get started
Open your account at storspay.com/freelancers — a few minutes, ID and selfie.
Small print. Storspay accounts are business accounts; verification is required. Your clients and the people you pay need no Storspay account or app. Storspay is a financial technology company, not a bank. StorsApp Inc. is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a money services business. Registration with FINTRAC does not constitute an endorsement by FINTRAC or the Government of Canada of Storspay or its services. This session was recorded with African Freelancers, a Storspay referral partner community.
See your own corridor number. What your team receives, what Storspay costs, what you keep — no sign-up.
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