Receive payouts by international wire transfer in USD

Overview

When you use the Bank card payout method, you receive payment for your work directly to your bank card, then pay online and offline stores, withdraw cash, and perform other transactions.

Supported currencies

US dollar (USD)

📌 If the currency of your balance in Smartcat is not USD, the funds are converted to USD using the Smartcat exchange rate.

Commission

10 USD + 0.5% of the withdrawal amount. The fee is converted into the payout currency at the time of the transaction.

You can view a list of companies that reimburse your commission in the My Payouts section (click the Learn more button on your payout method).

📌 Additional commissions of correspondent banks may apply. You can learn more about why correspondent banks charge commissions in the FAQs below.

Minimum and maximum payout amount

From 50 USD to 25,000 USD

Smartcat lets you set the minimum amount, starting from which the payment is sent to you. To learn more, see Minimum payout amount.

Required details

Advantages

• Global coverage: wide selection of available countries

Flaws

• High commission rate: intermediary bank commissions may apply additionally

• Fairly long process: transferring funds takes up to 5 business days

Countries where international wire transfer in USD is available

FAQs

I chose this method, but the payment was rejected. Why?

Act as follows:

• Make sure you have provided payment details for an international SWIFT bank transfer (not a local bank transfer — ACH)

• Make sure that the postal code, city, street, and house number are specified in the corresponding fields of the details. Make sure you do not enter a PO box or email address instead of your residential address

• Check that the details you provided are correct (account number, IBAN if applicable, SWIFT, branch)

• Make sure that the name of the account holder is entered in the details exactly as it appears in the bank details, including all spaces and symbols

I cannot find the payment. What does the payment look like on the bank statement?

The purpose of the payment indicates the payment ID in the format PO-XXXXXX-XXXXX, which you can find in the Payout History section.

SMARTCAT PLATFORM INC. or THE CURRENCY CLOUD LIMITED appears as the sender, depending on the beneficiary bank.

For which countries is this method available?

To see if this method is available to you, check your options when adding a payout method in the My Payouts section. If it is listed for your chosen country or region, you can specify your bank account as the withdrawal method.

I received a payment. What details should be used for billing?

When receiving funds by international wire transfer in US dollars, provide the following Smartcat details in your account:

• Company name: Smartcat Platform Inc.

• Company address: 2810 N Church St PMB 50985, Wilmington, Delaware, 19802-4447, USA

Why can using the international wire transfer payout method involve additional fees?

If you choose to receive payouts using the international wire transfer method, Smartcat deducts a $3 fee per payout unless you and the customer have agreed otherwise.

Additionally, intermediary banks that process the transaction may also charge a fee, which can be between $5 and $40.

Why are intermediary banks involved in the process?

If the two banks that process the payment from Smartcat to the recipient don't have a direct relationship, one or more intermediary banks must be found to facilitate the transfer. This is done automatically without Smartcat's involvement.

Since there are more operations happening behind the scenes, this kind of transfer is more expensive and may take a bit longer to complete.

Smartcat does not have an impact on intermediary banks' policies, nor can it provide accurate information on the amount of fees applicable.

Consider this information and, if it doesn't suit your needs and expectations, use a different available option for receiving payouts.