> ## Documentation Index
> Fetch the complete documentation index at: https://docs.hckrt.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Setting Up Your Payment Information to Receive Bounties

> Configure your payment method, understand currency and residency requirements, and learn what to expect when your first bounty is ready to be transferred.

Before any bounty can be paid to you, you need to save valid payment information in your account. Hackrate supports two payment methods — bank transfer and PayPal — and the setup takes only a few minutes. Keeping your payment details accurate and current ensures that when a company awards you a bounty, the transfer can proceed without delay.

## Navigating to payment settings

To access your payment settings, go to **Account Settings** and select the **Payment** tab. This page shows you two things: your saved payment details (if any have been entered) and a history of payment transactions associated with your account.

<Note>
  You must be signed in as a researcher to access the Payment settings page. Program administrators use a separate payments workflow.
</Note>

## Choosing a payment method

Hackrate supports two active payment methods. Select the one that best fits your situation:

<Tabs>
  <Tab title="Bank transfer">
    Bank transfer sends your bounty directly to a bank account. To use this method, you will need to provide:

    * **Account holder name** — the full legal name on the bank account
    * **Bank account number** — your IBAN or account number depending on your country
    * **Bank name** — the name of your financial institution
    * **Bank country** — the country where your bank account is held
    * **Country of residence** — your current country of residence

    Bank transfers are well suited to larger bounties and to researchers in countries with well-connected banking infrastructure.
  </Tab>

  <Tab title="PayPal">
    PayPal transfers your bounty to a PayPal account using your email address. To use this method, provide:

    * **PayPal email address** — the email address linked to your active PayPal account
    * **Country of residence** — your current country of residence

    PayPal is convenient for smaller bounties and for researchers in countries where international bank transfers involve high fees.
  </Tab>
</Tabs>

<Warning>
  Double-check all payment details before saving. Errors in account numbers or email addresses can result in failed or misdirected transfers that are difficult to reverse. You are responsible for the accuracy of the information you provide.
</Warning>

## Individual vs. company payments

When entering your payment details, you can indicate whether you are receiving payment as an **individual** or as a **company**. This affects how your payout is processed and how invoicing is handled in some jurisdictions. If you operate as a freelance security consultant through a registered business entity, select the company option and ensure the account holder name matches your registered business name.

## Identity verification requirement

Your identity must be verified before your first bounty payout can be processed. This is a platform-wide requirement designed to comply with financial regulations and to protect both researchers and companies.

<Steps>
  <Step title="Complete identity verification">
    Go to **Account Settings → Verification** and complete the identity verification flow. You will need a government-issued photo ID, a proof of address document, and a camera for a live photo. See [Verification](/researchers/account/verification) for full instructions.
  </Step>

  <Step title="Save your payment details">
    Return to **Account Settings → Payment** and enter your chosen payment method. You can save payment details before verification is complete, but the payout will not be initiated until your identity is confirmed.
  </Step>

  <Step title="Receive your bounty">
    Once a company awards a bounty and your identity is verified, the transfer is initiated. You will see the transaction appear in your payment history on this page.
  </Step>
</Steps>

## Currency considerations

Bounties are denominated in the currency chosen by the program — either **USD (\$)** or **EUR (€)**. The program currency is displayed in the program brief before you start testing.

* If you are paid via **bank transfer**, your bank may apply a currency conversion fee if your account is held in a different currency. Check with your bank for their international transfer rates.
* If you are paid via **PayPal**, PayPal's currency conversion rates and fees apply when the funds arrive in a currency different from your PayPal balance's default.

<Tip>
  Consider holding a EUR or USD account if you participate frequently in programs denominated in those currencies — conversion fees can add up across multiple bounties.
</Tip>

## Keeping your payment information up to date

Your payment details are not updated automatically if you change banks or switch PayPal accounts. You are responsible for keeping this information current. Outdated details can result in failed transactions.

<Accordion title="When to update your payment details">
  Update your payment information any time you:

  * Change your bank account or close an existing account
  * Update the email address on your PayPal account
  * Move to a different country of residence
  * Switch between individual and company payment status
</Accordion>

<Accordion title="What happens if a transfer fails">
  If a payment transfer fails due to incorrect details, the funds are typically returned to the program. Contact Hackrate support as soon as possible with your corrected payment information so the transfer can be re-initiated. Providing accurate details at the outset avoids this delay.
</Accordion>

## Security tips for your payment data

Your payment information is sensitive. Treat it with the same care you would any financial credential:

* **Never share your account settings credentials** with anyone, including other researchers. Hackrate staff will never ask for your password.
* **Enable two-factor authentication** on your Hackrate account to protect against unauthorized access to your payment details. See [Verification](/researchers/account/verification) for 2FA setup instructions.
* **Use a dedicated email address for PayPal** that is not easily guessable or linked to your public hacker identity.
* **Review your transaction history regularly** on the Payment page. If you see a transaction you do not recognize, contact support immediately.
* **Notify support promptly** if you suspect your account has been compromised, especially before any pending bounties are paid out.