Payout methods for suppliers: setup, options, and timelines

Overview

Smartcat offers several payout methods for suppliers, depending on your country. This article explains how to set up your payout method, what to expect from processing timelines, and how to track your payment history.

When to use it

• You are setting up your payout details for the first time

• You want to change your payout method

• You want to check available payout options for your country

• You want to understand payout fees and processing times before selecting a method

How to use it

⚠️The payment details for the account must match the details of the Smartcat account, otherwise Smartcat suspends the payments.

Set up a payout method

1. Go to My Payouts

2. Review the available payout methods listed — options depend on the country set in your profile

   • Your profile country affects your payout method/currency eligibility and tax forms; it does not affect server assignment, project access, and your ability to work while traveling

3. Click Select next to your preferred method

4. Fill in all required details (bank account number, PayPal email, Payoneer account, and so on)

5. Click Save

6. Set your minimum payout threshold. Payouts are sent automatically when your balance reaches this amount

7. Some payment methods, such as PayPal, require additional safety confirmations, which much be completed before you can receive payment

Result: Your payout method is active. Smartcat will send payments within 5 days when your balance meets your threshold.

Review fees and limitations

Each payout method displays its own fees, limitations, and requirements in its description in My Payouts. Review these before selecting a method.

Check your payout history

1. Go to My Payouts

2. Select the Payout history tab

Result: A full record of past payouts appears, including dates, amounts, and methods used.

Requirements and limitations

• Available payout methods depend on the country set in your Smartcat profile. This is specifically the country in your profile settings, not the physical space where you are currently working.

• Each method has its own minimum withdrawal amount and transaction fees, shown in the method description

• If your country is not listed, contact support@smartcat.ai

FAQs

How long do payouts take to arrive?

Payouts are processed within 5 business days from the date the invoice is generated. The payment may be affected by the country and timeline associated with the project.

I set up my payout method but haven't received a payment yet. What should I do?

Check that your balance has reached your minimum payout threshold. If it has and more than 5 business days have passed, contact support@smartcat.ai.

Can I have more than one payout method?

You cannot have more than one payment method. If you have one configured and add another, you must Replace the previous method or Cancel adding a new method.

Why can’t I see my preferred payout method on the list of methods?

Some payout methods may be unavailable in your country, but if you change the country associated with your account you can add it.

Why does Smartcat say my bank details are not fully verified?

When you add or update your bank details as a payout method, you may see a message saying your bank details are not fully verified. This happens because of a regulatory requirement which checks whether the account holder’s name you entered matches the name registered on the bank account.

Seeing this message doesn’t necessarily mean your payout details are invalid. It’s mainly a prompt to double-check that the beneficiary name and bank details were entered exactly as they appear on your bank account — small differences like a missing middle name, a diacritic, or using a preferred name instead of your legal name can trigger it. If everything is correct, you can go ahead and save the payout method; no further action is required.

However, it is possible that the payout is palced on hold for a payee name mismatch, which is a stricter, compliance-driven check applied after a payout has already started. That hold means the name on the receiving bank account doesn’t match the verified owner of the Smartcat account, and it usually requires you to confirm or correct your details — sometimes with ID documentation — before the payout can proceed. The “not fully verified” message at save-time is informational and does not block saving; the name-mismatch hold is blocking and requires resolution before funds move.

What amount should I invoice Smartcat for after receiving a payout?

Invoice Smartcat for the gross amount — the amount before Smartcat’s payout fee is deducted — not the net amount that actually landed in your account. The fee (0.5% for most payout methods) is calculated on the final, gross payout amount, so your invoice should reflect that pre-fee figure and let the fee be deducted from it on Smartcat’s side.

A common mistake is building the invoice amount by starting from your net figure, adding a service-fee percentage, then adding tax on top — that approach ends up asking for more than you’re entitled to, because the 0.5% fee is still calculated on the resulting gross number rather than deducted a second time. If you’re unsure which amount you landed on, work backward from the net amount you actually received so that after the 0.5% fee is deducted, you’re left with that net figure — the number before that deduction is your gross invoice amount.

Invoices are issued from Smartcat Platform Inc. regardless of whether you’re a Marketplace or in-house supplier. The entity that actually pays out your funds, however, depends on your payout method — for example, local EUR wire transfers (SEPA) are paid by Smartcat Europe BV, while other payout methods may route through a different Smartcat entity.

Check with your Smartcat account contact if your own invoicing process requires a specific reference format regarding whether the invoice should reference the payout PO number (PO-XXXXXX-XXXXX) or list the individual jobs/projects it covers.

Can I receive payments into a Wise (TransferWise) account?

Wise (formerly TransferWise) is not offered as a separate, named payout method inside Smartcat, but you can still receive your payouts into a Wise account. In Wise, open the account details for the currency you want to be paid in (for example, your USD account) and confirm they accept international/SWIFT transfers. Then, in Smartcat, go to My Payouts, and under the bank-transfer method available for your profile's country (for example, International wire transfer in USD), enter those Wise account details and save. Set your minimum payout threshold as usual — payouts are sent automatically within about 5 business days once your balance reaches it.

One important requirement: the Wise account must be registered in your own name, matching your Smartcat account exactly, otherwise payouts will be suspended. Also check the fee and minimum-payout details for whichever bank-transfer method you choose, since each method (including intermediary bank fees on international wires) has its own cost structure.