Depending on your work status and your legal requirements we have a different set of payment options and fees for your service:
For Individuals (4%):
Our service allows you to receive money as an individual, without having to start a company or register as a sole trader. As a part of the service, we handle the financial reporting, administration, and withholding of taxes*, that you otherwise would have to handle, if you would set up a company. With this service, the money will be transferred to your bank account within seconds. The fee for this service is 4%
*In Sweden, we withhold social contributions as well as income tax, whenever this is the case it will be clearly specified when accepting the payout.
For companies and sole traders (0-2%):
Automated (2%): Skip the work of making your own invoice. By using self-billing we create the invoice for you and transfer the money within seconds to your bank account. This service has a fee of 2%.
Manual invoice (0%): The service is free but you have to send us your own invoice to Gigapay. The invoice will be paid after 15 days if you have followed our invoice instructions* accordingly.
*The invoice instructions will be shared with you once the payment is available.
Currency conversion fees
When a currency conversion takes place on your payment, Gigapay processes the transaction via Wise. Wise is used for all currencies other than SEK and will charge a conversion fee for carrying out the transaction.
Please note: The amount displayed during a currency conversion is an estimate that includes the fee. The final amount will be calculated at the time of the transaction and may differ slightly.
You may choose to accept the payment in the original currency to avoid a conversion on our end. However, please be aware that your bank may apply its own currency conversion fee if your bank account is denominated in a different currency.