PayPal

PayPal (https://www.paypal.com/) is an e-Wallet that allows you to make online payments. Once the money is in your PayPal account, you can use it directly to pay for goods and services where PayPal is accepted, or you can transfer the money to your PayPal-affiliated bank account.

Available currencies

United States Dollar (USD)

Please note that if the currency of your balance in Smartcat is different from USD, the funds will be converted to USD at the Smartcat exchange rate on the day of the payment.

Commission

If you have a verified PayPal account in the United States, a flat fee of 0.25 USD applies.

If you do not have a Paypal account in the United States, 2% of the total transaction amount will be charged but not more than the maximum commission amount of 20.00 USD.

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

Minimum and maximum payout amount

USD: from 1 USD to 20,000 USD

Smartcat allows setting the minimum amount, starting from which the payment will be sent to you. You can learn more in the article "Minimum payout amount."

Required details

To receive payment, simply select your PayPal account currency and log in to your PayPal account.
You can only receive payments to an activated and verified PayPal account. Read more about how to verify your PayPal account in the article How to verify your PayPal account.

Advantages

• Speed. Payouts are processed up to 3 business days on the Smartcat side and up to 1 business day on the PayPal side.
• Simplicity. There is no need to fill out a lot of details, just specify your PayPal account.

Flaws

• High PayPal commission for non-US users
• PayPal is not suitable for some countries because of regulatory issues
• Additional PayPal commission when withdrawing funds from PayPal to a bank account. If you want to eventually receive funds to a bank account, we recommend you to choose the "Bank Transfer" method

Frequently Asked Questions

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

A: Act as follows:

• Make sure your account is active and verified. Read more about how to verify your PayPal account in the article How to verify your PayPal account
• Make sure there are no restrictions when you get money in your wallet. To do this, contact PayPal support

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

A: If you can not find the payment, please check your PayPal account statement for transactions from the Smartcat sender with the reference:

Payment ID: PO-XXXXXX-XXXXX* for translation and related services.

*Your payment ID for which the payment was sent (Details in the section My payouts -> Payout history)

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

A: If you receive funds by PayPal in USD, you must provide the following Smartcat details in your account:
Company name: Smartcat Platform Inc.
Company address: 177 Huntington Ave Ste 1703, PMB 50985 Boston, Massachusetts 02115-3153
EIN: 811551044

Q: For which countries is this method available?

A: 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 connect your existing PayPal account as a withdrawal method.

Q: When trying to choose PayPal as a preferred payout method I get the following error: Please make sure you use the same email address for Smartcat and PayPal. How can I solve this??

A: We ask you to link your registered PayPal account to your registered Smartcat email address. This is to guarantee that your transactions are secure. If your Smartcat email address doesn’t match your PayPal email address, you may choose between the following options:

• Change your Smartcat email address to match your PayPal email address. Go to My settings → email & password
• Add your current Smartcat email address as a secondary email address to your PayPal account. This will allow you to keep your primary PayPal email address and use your secondary email address in a Smartcat account.

Countries where receiving PayPal payments is available

Countries where PayPal works, but its options are limited (funds from the account can only be withdrawn to a US bank or used for online purchases):

If you are in one of these countries and would like to choose PayPal as your withdrawal method, please contact support@smartcat.ai for instructions on how to do so.