The amount that the freelancer is asking for exceed our current credit card limit.
Is there a way I can wire transfer the amount from Malaysia to the states? Does the freelancer need to enable this payment method as well?
If my bank account it in Malaysia, may I use my paypal account to deposit the money into escrow?
I would suggest using a different billing method that is available to your account so that you can pay your freelancer. Take note that if this were a fixed-price contract, you may opt to release the payment in milestones which allows you to release a smaller amount each time a milestone is completed, making you not exceed your credit limit.
What would your suggestion be if my freelancer is asking for a payment of $1250?
If I divide it into a few milestones, that would mean I have to deposit the first amount for the first milestone only, yes?
Freelancers are agreeing on the amount offered when they accept your offer. But depends on the nature of the work it can lead to extra costs for bowt.
Yes when you divide the project in more than one milestone you will be able to fund only one at a time. When you approve the first one the freelancer will be able to work and submit work for the second one, otherwise he will not be able to submit the work on the second milestone.
You can read more details on this Help Article how fixed price contracts works.
The invoice will reflect each transaction and will be sent to you.