Transfer your rewards towards your bank account and retrieve your bounties
What are the pre-requisites for a withdrawal?
A hunter must fulfill the following pre-requisites:
- Hunter must be KYC Verified
- Hunter must use a bank account associated to his (her) name (=the same identity previously verified during KYC process).
- The bank account must be located in a country where MangoPay authorizes money transfers. Check here the list of authorized countries.
In case of issue on the point 3 (location of the bank account):
The beneficiary bank account can also be a Transferwise/ wise.com multi-currency account since Wise.com provides IBAN / SWIFT AND BIC codes (for wire transfers in EUR) as well as US Routing numbers (for wire transfers in USD) to its users in need of Bank references on other continents / in other countries. Hunters may also use Payoneer if they received a bounty in EUR and if they have a Euro receiving account on Payoneer.
How to configure a hunter's bank account
NB: A hunter might configure a bank account only after receiving his first reward! If you don't have any reward, you cannot configure a bank account.
From your hunter's account, go to 'Your account' > 'My E-wallet' > 'Wallet information' and click on "withdraw". Once again, if you don't have any reward yet, you don't have access to this feature, and therefore, you cannot create a bank account.
On the following page, you can enter the amount to withdraw and select the bank account where you want to withdraw the funds. There is also the button '+ Add bank account' on this page. By clicking on it, it will open the following form:
There are all the fields need to register your bank account.
Important : the bank account should be under the same name which has been KYC verified
What are the reasons for a FAILED withdrawal or a payout return ?
Payout failures usually occur when:
- the bank account owner is not the YWH account owner (ie: the KYC verified user) > we recommend to change the bank account with one under the hunter's name
- the local bank doesn’t accept wire transfers in euros or dollars > we recommend the hunter to check with his bank. If the issue is confirmed, our suggestion is to use an intermediary (e.g. wise.com).
- the hunter's bank needs more info about the transaction in order to unblock the funds for his client. For example, a bank may ask for the purpose of remittance > The hunter can in this case precise to the bank the following "MangoPay is the Payment Service Provider (PSP) of YesWeHack platform. The funds are in fact a reward that [I] received on my MangoPay e-wallet after finding a security flaw and reporting it to the vulnerable company through the YesWeHack platform."
- the Hunter hasn't selected the correct "bank account type" when entering his bank details on the platform > see below, and try again with another type
If you tried all of the above solutions and you are still facing a payout/withdrawal issue, please contact support@mangopay.com with details about your issue, including your transaction number.
How long does a withdrawal takes?
Transfers can take some time to get to a bank, depending on the transfer route.
It can take up to 15 business days for international transfers.
Wire-transfer (hypothetical) fees
Transfer fees will depend on the transfer route and on the banks/intermediaries involved. (They are often applied by the beneficiary bank, so a hunter's bank might be able to provide more details on that matter).
Important note: YesWeHack does not take any commission on rewards nor on withdrawals.
Supported currencies
Program Managers may transfer bounties in € or $ to a hunter's e-wallet.
MangoPay does not perform currency conversions, so hunters must check with their bank if wire transfers are accepted for the currency of their bounty.
If a hunter's bank does not accept transfers in said currency, hunters may transfer their bounty to a intermediary or use a different bank account.