This guide walks you through claiming a Payout as a Sole Trader or Company on Gigapay. Unlike Individuals, you handle your own invoicing and tax obligations.
Before You Begin
Make sure you have completed the following:
Your Company/Sole Trader registration details (registered name, TIN, VAT number)
A valid Tax Identification Number (TIN) registered for cross-border transactions
A valid VAT number (required for Companies, optional for some Sole Traders)
Your business address
A business payment method set up (Company IBAN or invoicing)
Step 1: Open Your Payout
When a Payout is available, you will receive an email notification with a link. Click the link, or navigate to your Dashboard and select the Payout from the Available tab.
Step 2: Review the Payout Summary
The summary shows a breakdown of your Payout:
Invoiced amount: The total invoiced amount
Fee: Gigapay's processing fee (if using the Bank Transfer/self-billing option)
VAT: Value Added Tax on the fee
Net amount: The amount you will receive
Currency: The Payout currency
Key difference from Individual Payouts: As a Sole Trader or Company, there are no tax or payroll deductions. You are responsible for your own tax obligations.
Step 3: Review Your Personal and Company Information
The Payout page displays your information in several sections:
Profile: Your legal name and personal details.
Contact: Your email address and phone number.
Address: Your residential address.
Entity Type: Should show "Sole Trader" or "Company."
Company Info: Your registered Company name, VAT number, TIN, and business address.
Payment Method: Your selected business payment method.
Click Change on any section to update it before claiming.
Switching Between Entity Types
You can switch between Sole Trader and Company directly from the Payout page by clicking Change next to Entity Type. Switching to Individual requires a different process. Contact support if needed.
Step 4: Choose or Update Your Payment Method
As a Sole Trader or Company, the following payment methods are available:
Method | Type | Required Fields |
Bank Transfer (Self-billing) | Gigapay creates the Invoice | IBAN + BIC |
Manual Invoicing | You submit your own Invoice | Invoice details per Gigapay requirements |
Bank Transfer (Self-billing):
Gigapay creates the Invoice on your behalf and processes the Payout within a few days. A 2% fee applies depending on your client, some clients absorb the fee. Available sub-options:
Company IBAN Transfer: IBAN, BIC, and account holder name required.
Company BBA Transfer (Australia): Account number, BSB code, account holder name.
PayPal is no longer offered as a payout method. Please use a bank transfer instead.
Manual Invoicing:
You create and submit your own Invoice to Gigapay. Payouts are processed within 15 calendar days after we receive your Invoice following Gigapay's standard Invoice requirements. This option is free of charge.
Not available for Sole Traders/Companies:
Swish: Only available for Swedish Individual accounts.
Individual payment methods: You must use Company-specific methods.
Step 5: Review the Terms
Before claiming, you must agree to:
Terms and conditions: Gigapay's standard terms of service.
Responsibility declaration: Confirming the Payout and Company information is correct.
Step 6: Accept the Payout
Once all information is verified and terms accepted, click Accept Payout.
You will see a confirmation page with:
A success message
Your Payout reference details
The estimated payment date
Your TIN and VAT numbers for your records
After Accepting
If you chose Bank Transfer (Self-billing):
Gigapay generates the Invoice automatically.
Funds are transferred to your payment method within a few business days.
You receive an email confirmation with the Invoice.
If you chose Manual Invoicing:
Your Payout moves to "Invoice Pending" status.
You must submit an Invoice to Gigapay following the specified requirements.
After we receive your Invoice, Payouts are processed within 15 calendar days.
Common Issues
"I cannot see Company payment methods."
Make sure your Entity Type is set to Sole Trader or Company, not Individual.
Complete all required Company details (name, TIN, VAT, address) before selecting a payment method.
"I cannot select PayPal."
PayPal is no longer offered. Use a bank transfer instead.
"Manual Invoicing is not working."
Make sure your Company details are fully verified.
Check that your Invoice meets Gigapay's requirements (correct format, matching amounts, valid VAT).
"My Payout is stuck in Invoice Pending."
If you chose Manual Invoicing, you need to submit your Invoice. Check your email for Invoice instructions.
Need Help?
Contact Gigapay Support via in-app chat or email us at support@gigapay.com.