This article explains how to set up your bank account on Malt to receive payment for your projects, and the role of our partner MangoPay.
- Add your bank account in the "Bank account" tab of your company settings.
- Verification goes through MangoPay, our regulated payment partner.
- MangoPay authorization is required to receive your payments.
Are all your documents validated and are you preparing to receive your first payment? It is time to set up your bank account to receive payment for your projects!
If you navigate to "Company settings", you will find a "Bank account" tab as the last step to complete. From this section, you can add a bank account to receive payments.
❗ To set up a US bank account 🇺🇸, please read this dedicated article! ❗ |
Add a bank account
Screenshot: add bank account form
Start by telling us which country your bank account is in and which currency you use.
Then add your IBAN if you are in Europe, or another account number format if you are elsewhere in the world.
Depending on where your bank account is located, we may ask for additional information such as a BIC/SWIFT code to support payment from any currency or country.
Finally, add the account holder name as it appears on your (debit) card or bank statements, and the bank account's registered address.
Verification process
By clicking "Next", you will be redirected to a dedicated secure module hosted by our partner MangoPay. During verification, you will be asked to:
- Create a passkey or register a trusted device to log in securely to MangoPay
- Confirm your email address as registered on your Malt account
- Create a 6-digit PIN
- Add your phone number
After starting the process, you must authorize Malt to perform two actions on your behalf:
- Access the balance and transaction history of your MangoPay account
- Execute payments from your MangoPay account
Authorizing Malt to perform these actions is mandatory. Without authorization, you will not be able to receive payments via Malt or use the platform properly.
After creating the passkey, your bank account is verified and you are ready to receive payment for your work!
Start verification
You will first need to create a passkey for added security. Depending on your device, you may be asked for your fingerprint, facial recognition, or screen lock code to confirm your identity.
You will then enter your email address (the one used on Malt), set a unique 6-digit PIN, and add your phone number.
If all these steps are validated, you will be automatically redirected to your company settings on Malt.
Your bank account is then verified and you are ready to receive your payments!
Malt's payment partner: MangoPay
At Malt, we are committed to offering the fastest and most secure payment experience. To ensure this, we partner with a specialized, highly regulated Payment Service Provider (PSP) called MangoPay. MangoPay is essential for orchestrating all payments, from clients and financial partners to Malt, and most importantly, directly to you, our freelancer community, ensuring you are paid within 10 days.
MangoPay is a "regulated institution". This means they are supervised by financial authorities and must comply with legal, financial, and operational standards.
As a regulated institution, MangoPay is required to implement robust Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance checks. This is why we ask you to provide an identity document and details about your business and bank account before you can receive a payment.
You can find more information about documents required by country in this article.
Data security
MangoPay is formally licensed as an "Electronic Money Institution" by the "Commission de Surveillance du Secteur Financier (CSSF)", the financial sector regulator for the European Union, based in Luxembourg. MangoPay holds the highest level of certification under the "Payment Card Industry Data Security Standard" (PCI DSS), and is fully compliant with the "European Payment Services Directive 2 (PSD2)." This means they can:
- Issue and manage electronic money
- Provide payment services in the European Economic Area
- Protect client funds under EU law
If you would like to learn more about how Malt and MangoPay ensure secure processing of all data we collect, please refer to our Data Protection Center or contact us at privacy@malt.com.