You can pick Bank or Payoneer as a payout method. Here, we’ll consider the 1st option.
How to add bank as a payout method?
- Go to Merchant Panel and click your name on the right upper corner.
- Choose Payout Settings → Payout Method → Add New Method.
- Choose “Bank” as a type of payout method.
- Pick a Bank country and create a custom Bank name.
- Fill in your Account number and Swift.
- Indicate a minimum payout amount. Please refer to the Payout Settings article to learn more about it.
- Click Save.
After saving, you will be able to edit the payout method information in the future.
Requirements for filling out Account Number and Swift
International Bank Account number or IBAN is a standard international numbering system developed to identify an overseas bank account. It is an alphanumeric number containing information that identifies a bank, country, and account number.
The number starts with a two-digit country code, then 2 numbers, followed by up to 35 alphanumeric characters.
Swift number is an alphanumeric number containing information that identifies a bank and a branch. It can be 8 or 11 characters long, depending on which bank office it refers to.
Please fill in 11 characters. If only 8 characters provided, then add XXX at the end.
Bank Account Currency Requirements
Bank and merchant's account should maintain EUR currency to be able to receive the payouts (EUR currency or multi-currency account).
If you have a multi-currency account, then EUR will be converted into the main currency of the account.
Don’t forget to choose the created method for your payout channel to receive payouts on it. Please refer to the article “Payout Settings” to learn more about it.
If you’d like to learn more about Payoneer as a payout method, please refer to this article.