You need to enter your payout details in order to transfer your collected funds. This article will first explain how to do payouts to your own personal account. Then, we discuss how to do payouts to a company, to a third party in the US and internationally.
Transfer money to your personal US bank account
Go to the payout page by clicking on your name in the upper right corner and selecting "Payouts".
You will now be forwarded to a secure page of our payment provider Stripe. Stripe is one of the largest online payment processors, used by many large companies (e.g, Facebook, Lyft). You will be first asked to enter your phone number and your email.
You will then receive a text message with a code to verify your phone number. In the next step, you will enter your name, date of birth and your banking details. You can enter the debit card which is linked to a bank account, or you can enter the account and routing number of the bank account.
After you have entered your payment details and clicked "Create Account" you will be redirected to the WeTravel Payout page. You have now added your payout method and can transfer funds by clicking on "Initiate US Payout". Payouts take 2-3 business days to arrive at the destination bank account.
"Initiate Payout" button not available?
If you have added a payout method but you do NOT see the "Initiate Payout" button to the right of the payout method, it means that your ID verification is not yet complete. Please contact the WeTravel team so we can verify your identity and activate payouts for your account. See here how to get verified for payouts.
After you transfer a certain amount to one account (usually after a few thousand dollars), our payment provider Stripe is legally obliged to identify your identity. If verification is necessary, you will be contacted by Stripe via email and text messages with instructions how to add details such as your address, date of birth and last 4 digits of the social security number (SSN) to the account. All of this can be done conveniently on your phone.
If you do not have an SSN or the automatic verification fails, you will be asked by Stripe to upload an ID document (driving license or passport).
Delay for ID verification: In some cases, this ID verification can delay your first large payout by a few days. Please keep this in mind and transfer your funds early enough.
Transfer money to a company account
To transfer money to a company, you go through exactly the same steps as above. However, you don't add the name of the company in the "Name" field. Simply enter the name and personal information of a company representative (this can be yourself). If you do large payouts and get asked by Stripe to verify the account, you again enter additional personal information of the company representative.
Transfer money to a third party
You can register and transfer funds to any US bank account, even a third party. However, keep in mind that you might need to enter additional personal details to verify the account holder if you transfer large sums to that account (see "Identity Verification" above). Thus, you might be asked to provide Stripe with the date of birth, address, last 4 digits of SSN and maybe a copy of their ID document.
To discuss other ways to make payouts to third parties in the US, please get in touch with us.
Transfer money internationally
WeTravel also allows you to wire funds directly to any international account. Please see this support article here.