Follow these steps to set up or update your business bank details so you can receive Payouts as a Sole Trader or Company.
Regional Restrictions
If your Gigapay account is in the EU/SEPA region, you can only receive Payouts to bank accounts within the EU/SEPA region. The same applies for accounts outside the EU/SEPA region.
Step 1: Log in to Gigapay
Access your account at app.gigapay.com.
Step 2: Navigate to Payment Methods
You can update your payment method in two places:
From Settings: Click your profile icon in the top right corner (desktop) or bottom right (mobile), then go to Settings. Scroll to the Payment Methods section.
From a Payout: When viewing a Payout, click Change next to the Payment Method section.
Step 3: Choose Your Invoicing Method
As a Sole Trader or Company, you first choose how invoicing is handled:
Bank Transfer
Gigapay creates the payment statement for you and processes your Payout within a few days. The following payment methods are available:
Company IBAN Transfer (EU/SEPA):
IBAN: Your business bank account IBAN.
BIC: Bank Identifier Code / SWIFT code.
Account holder name: Must match your registered Company name or your name as Sole Trader.
Email (optional): For transfer notifications.
Preferred currency: Select from available options.
Bankgiro and Plusgiro (Sweden):
Swedish Companies can be paid to a Bankgiro or Plusgiro number instead of a bank account.
Bankgiro or Plusgiro number: Must be registered to your Company.
Account holder name: Must match your registered Company name.
Company BBA Transfer (Australia):
Account number: Your Australian business bank account number.
BSB code: 6-digit Bank State Branch code.
Account holder name: Must match your business bank records.
PayPal is no longer offered as a payout method. Please use one of the bank transfer options above.
Manual Invoicing
You create and submit your own Invoice to Gigapay. Payouts are processed 15 days after Invoice submission following Gigapay's standard Invoice requirements.
Standard Manual Invoicing: For domestic Companies.
International Manual Invoicing: For international Companies. Requires IBAN.
Swedish Companies can also be paid to a Bankgiro or Plusgiro number with this option.
Early Pay (Bank Transfer Only)
Some Clients offer Early Pay, which allows you to receive your Payout before the scheduled due date. A 4% fee applies. Early Pay is only available when the Payout due date is 7 or more days away. All Bank Transfer payment methods above are available with Early Pay.
How Early Pay works: When you open a Payout with Early Pay available, you will see two options: "Get Paid Today" (Early Pay) or "Standard Payment" (wait for the due date). If you choose Early Pay, the 4% fee is deducted from your net amount.
Note: If you are charged a compliance fee the Early Pay fee is added to gross amount as well.
For example:
You have a payout of 10,000 EUR and are registered as a Sole Trader or Company.
Early Pay fee (4% of 10,000 EUR): 400 EUR
Total fees: 400 EUR
Total amount received: 9,600 EUR
Step 4: Enter Your Bank Details
Fill in all required fields for your selected payment method. Fields vary depending on the method chosen (see Step 3 above).
Step 5: Save Your Details
Review all entered information, then click Save.
Before you save:
Double-check your IBAN or account number to avoid Payout delays.
Make sure the account holder name matches your business bank records exactly.
Swish is not available for Sole Trader or Company accounts. Swish can only be used for Individual Payouts.
Prerequisites
Before you can receive Payouts, your Company details must be complete:
Registered Company name
Valid TIN (Tax Identification Number) registered for cross-border transactions
Valid VAT number (required for Companies, optional for Sole Traders in some countries)
Business address
If any of these are missing, you will be prompted to complete them before claiming a Payout.
Currency Conversion
If your preferred currency differs from the Payout currency, Gigapay shows the estimated converted amount and exchange rate before you claim. Currency conversion quotes are available for IBAN transfers.
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 first.
"IBAN is not accepted."
Remove any spaces or dashes.
Make sure the IBAN starts with the correct country code.
Verify the BIC matches a valid bank for IBAN transfers.
"I cannot select PayPal."
PayPal is no longer offered. Use a bank transfer instead.
"I want to use Swish."
Swish is only available for Individual accounts in Sweden. If you are a Sole Trader or Company, you must use Bank Transfer or Manual Invoicing.
"I want to use Bankgiro or Plusgiro."
Bankgiro and Plusgiro are available to Swedish Companies only. If your Entity Type is Individual, you will need to change it to Sole Trader or Company first.
Need Help?
Contact Gigapay Support via in-app chat or email us at support@gigapay.com.