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Direct Bank Transfer – New Payout Option

We’re excited to introduce a new payout option: Direct Bank Transfer. This method allows you to receive your earnings directly into your bank account, offering a secure and straightforward way to access your funds. You can use Direct Bank Transfer alongside other payout methods and manage them flexibly across your contracts.

Using Different Payout Methods for Different Contracts

If you are working on more than one contract, you can assign a different payout method to each contract.

For example:

  • Job A → Direct Bank Transfer

  • Job B → Payoneer

You can also change the payout method for the same contract at any time. For example, you may choose Direct Bank Transfer one week and Payoneer the next.

Please note:

  • Any payouts (for hourly contracts) or funded milestones (for fixed-price contracts) that were already processed or funded will remain linked to the payout method selected at that time.

  • The newly selected payout method will only apply to future transactions.

How to Set Up Direct Bank Transfer (watch the video)

Follow the steps below to connect your bank account:

1. Access your Billing settings

2. Verify Your Identity

Before setting up your bank account, you will be asked to verify your identity and provide proof of address.

This step is required for compliance with financial regulations, including anti-money laundering (AML) and know-your-customer (KYC) requirements. These measures help ensure secure transactions and protect both contractors and clients.

You will be redirected to:
Personal Settings → General → Verify Your Identity

Follow the instructions on the screen to complete the verification process.

3. Connect Direct Bank Transfer

Once your identity is verified:

4. Enter Your Bank Details

You will be asked to provide the following information:

Country

Select your country from the drop-down menu.
The currency will be automatically filled in.

Recipient Type

Choose one of the following:

  • Individual – Select this if the bank account is in your personal name.

  • Business – Select this if the bank account belongs to a registered company.

Make sure you choose the option that matches the legal owner of the bank account.

Transfer Type: SEPA or SWIFT

You will need to select either:

  • SEPA – Used for EUR transfers within the SEPA zone (European Union and other participating countries). SEPA transfers are typically faster and may have lower fees.

  • SWIFT – Used for international transfers outside the SEPA zone or in non-EUR currencies. SWIFT transfers may take longer and may involve intermediary bank fees.

Choose the option that corresponds to your bank account and location.

IBAN
Enter your IBAN exactly as it appears on your bank statement.

Name of Account Holder
This must match:

  • The name on your bank account

  • The name submitted during identity verification

The bank account must belong to you (the contractor).

Address
Enter your full address.

Start typing your address and select it from the drop-down list once it appears. The City and Postcode fields will be automatically filled in.

The address must match the proof of address submitted during identity verification.

5. Submit

Click Submit to save your bank details.

6. Set as Default

To make Direct Bank Transfer your default payout method, turn the toggle switch to the right.

When enabled, this method will automatically be selected for new contracts unless changed manually.

 

How to Assign Direct Bank Transfer to a Contract

After setting up your bank account, you can link it to a specific contract.

  1. Go to My Jobs → Active Contracts

  2. Click on the name of the job

  3. Open the Job and Client Details tab

  4. Select your preferred Payout Method from the drop-down menu

Your selected method will apply to future payments for that contract.

 

Still have questions? Check our FAQ!