How to set up payouts

To receive money from supporters and sponsors, you need to set up payouts. This guide walks you through the process step by step.

Step 1: Understand what you need

Before starting, make sure you have:

✅ Your identity details:

• Full name (as it appears in your passport/ID)

• Date of birth

• Residential address

• Nationality

✅ Your UK bank account:

• Account holder name

• Sort code (6 digits)

• Account number (8 digits)

• You can find these on your debit card or bank statements

✅ A valid email address (where payment confirmations will go)

Note: Payouts are currently only available for UK bank accounts. If you're not in the UK, contact [email protected].

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Step 2: Navigate to your Payouts settings

1. Go to Settings (top right of your profile)

2. Click Payouts

3. You'll see sections for:

   • Current balance (how much you have available)

   • Payout setup or Add bank account

   • Pending payouts (if any)

   • Payout history

Expected result: You're in your Payouts hub

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Step 3: Start payout setup

1. Look for Set up payout, Add bank account, or Complete setup button

2. Click it

3. You may see a message saying "Payout setup incomplete" – this is normal

4. Click Begin or Get started

Expected result: You're directed to complete setup

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Step 4: Confirm your identity

You'll be taken to Stripe (our payment processor) to verify your identity.

1. Full name: Enter exactly as it appears in your passport/ID

2. Date of birth: MM/DD/YYYY format (e.g., 03/15/1995)

3. Residential address: Your full current address

4. Nationality: Select your country

Important notes:

• Information must match your ID exactly (or it will be rejected)

• If you've recently moved, use your current address

• If your name has accents or special characters, type them exactly as they appear on your ID

Expected result: Identity information is submitted

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Step 5: Verify your email address

1. You'll receive an email from Stripe (or [email protected])

2. Click the verification link in the email

3. Confirm the email address is correct

If you don't see the email:

• Check your spam/junk folder

• Wait 5 minutes and refresh

• If still not arrived after 10 minutes, click "Resend email"

Expected result: Email is verified and confirmed

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Step 6: Add your bank account details

You're now back in Sponsor Driven (or still in Stripe – depends on flow).

1. Account holder name: Enter the name on your bank account (should match your ID)

2. Sort code: 6 digits (format: XX-XX-XX or XXXXXX)

3. Account number: 8 digits

4. Confirm the account holder name matches

Where to find these:

• On your UK debit card (sort code under your name)

• On your bank statements

• By asking your bank

• Online banking app (usually in account details)

Example format:

• Sort code: 20-00-00

• Account number: 12345678

Expected result: Bank account is entered correctly

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Step 7: Verify your bank account

1. Stripe may ask to verify your bank account by sending small test transfers

2. You'll see a message like "We'll send 2 small deposits (£0.01–£0.99) to verify your account"

3. Check your bank account in 1–3 business days

4. Return to Sponsor Driven and enter the amounts (e.g., "0.37" and "0.41")

5. Click Verify

What to expect:

• Two tiny deposits appear in your account

• They'll have a reference code or description

• You need those amounts to confirm ownership

• Once verified, the amounts are returned to your account

If deposits don't arrive:

• Wait 3 business days

• Check if your bank blocked them (call your bank)

• Confirm sort code and account number were correct

Expected result: Bank account is verified and confirmed

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Step 8: Complete any remaining requirements

1. You may be asked for:

   • Company name (if you're self-employed – use your racing name or "Professional Driver")

   • Business type (select "Individual" or "Professional")

   • Tax information (VAT number if you have one)

2. Fill in these final details

3. Click Finish or Complete setup

Expected result: Payout setup is complete

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Step 9: Confirm payout is ready

1. Return to Settings → Payouts

2. Look for your account status:

   • ✅ "Payout ready" – You're all set!

   • ⏳ "Pending verification" – Wait 24–48 hours

   • ❌ "Incomplete" – Missing information; click to fix it

   • ⏸️ "Restricted" – Contact support

3. Your account details should show as:

   • Account ending in [last 4 digits]

   • Account holder name

   • Status: Active/Verified

Expected result: Status shows "Payout ready"

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Step 10: Understand balance requirements

Before requesting a payout, check your minimum balance:

1. Look at your Available balance on the Payouts page

2. Minimum payout thresholds:

   • First payout: £20 minimum

   • Subsequent payouts: £10 minimum

3. If your balance is below the minimum:

   • Wait for more contributions/sponsorships

   • Or contact support to discuss options

Example:

• Available balance: £45

• You can request a payout for £45 (or any amount between £20–45)

Expected result: You understand your balance requirements

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Step 11: Request your first payout

Once you have a balance of £20+ and payout setup is complete:

1. Go to Settings → Payouts

2. Click Request payout or Withdraw funds

3. You may see options:

   • Withdraw all available (easiest)

   • Enter custom amount (if you want to withdraw less)

4. Select your option

5. Click Confirm payout

What happens next:

• Funds are sent to Stripe

• Stripe processes and sends to your bank (1–3 business days)

• You'll receive a confirmation email

Expected result: Payout is requested and processing

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Step 12: Track your payout

1. Go to Settings → Payouts → Pending payouts or Payout history

2. You'll see:

   • Amount requested

   • Date requested

   • Status (pending, in progress, completed)

   • Expected arrival date

3. Status updates:

   • Pending: Just requested, hasn't left our system yet

   • In transit: On the way to your bank

   • Completed: Money should be in your account

4. Click a payout to see more details (reference number, trace code, etc.)

Timeline expectation:

• 0–5 minutes: Shows as "Pending"

• 1–24 hours: Shows as "In transit"

• 1–3 business days: Shows as "Completed" and appears in bank

Expected result: You can track your payout's progress

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Common Issues & Fixes

"Payout setup shows 'Incomplete'"

Missing required information.

Fix:

1. Click on the setup status

2. See which fields are marked incomplete

3. Fill in missing information (identity, address, bank account)

4. Click Save

5. Status should update to "Pending verification" or "Complete"

"Identity verification failed"

Information didn't match your ID.

Fix:

1. Go back to Setup

2. Carefully re-enter your information exactly as it appears on your ID

3. Check for typos, middle names, or special characters

4. Use passport/ID format (middle name if listed)

5. Resubmit

6. If still failing, contact [email protected] with a copy of your ID

"Bank account verification timed out"

You didn't enter test deposit amounts in time.

Fix:

1. Go back to Payouts → Setup

2. Start the verification process again

3. Wait for test deposits (1–3 business days)

4. Enter the amounts you see

5. Complete verification

"Payout failed – 'Invalid account'"

Bank details were incorrect.

Fix:

1. Double-check your sort code and account number

2. Go to your bank's app or website to confirm

3. Call your bank if unsure

4. Go to Payouts → Update account

5. Enter correct details

6. Re-request payout

"Payout failed – 'Account closed'"

The bank account may no longer be active.

Fix:

1. Confirm your account is still open with your bank

2. If you've switched accounts, update your details in Payouts → Update account

3. If account is old/closed, create new payout with new account

4. Request new payout

"Money hasn't arrived after 3 business days"

Bank may be processing slowly or holding it.

Fix:

1. Check your bank's account activity (pending transactions)

2. Look for the transfer with reference number (from Sponsor Driven email)

3. Call your bank and ask about the pending transfer

4. If bank shows no record, contact [email protected] with payout reference number

"I want to change my bank account"

You can update your account details anytime.

Fix:

1. Go to Payouts

2. Click Update bank account or Edit account details

3. Enter new sort code and account number

4. Click Save

5. New account will be used for next payout request

6. Old account won't be used anymore

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Payout Fees

Understand what you'll actually receive:

Stripe processing fee: 1.5% (approximately)

Example:

• You have £100 available

• Stripe takes ~£1.50

• You receive ~£98.50 in your bank account

This is deducted automatically; you don't have to do anything.

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Security & Safety

✅ Your bank details are encrypted – Stripe handles payment processor security ✅ We never store your full account number – Only last 4 digits shown ✅ Payouts only go to verified accounts – The account you verified during setup ✅ You control when payouts happen – Only you can request withdrawals

Never:

• ❌ Share your sort code or account number with anyone

• ❌ Click payout links from emails (always go through your profile)

• ❌ Verify identity for anyone claiming to be Sponsor Driven (we do it once, during setup)

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Payout Frequency & Best Practices

How often can you request payouts?

Anytime – You can request a payout every day if you want (minimum £10 after first payout)

Best practice schedule:

Scenario	Frequency
Building to minimum	Wait until you reach £20+
Consistent revenue	Monthly (once a month, same date)
Large amounts	Less often (quarterly or when needed)
Just after race results	Right after races (sponsors pay after events)

Why monthly is smart:

• Predictable cash flow

• Easier to track for taxes

• Less bank fees (if your bank charges per transfer)

• Reduces admin work

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Tax Implications

Important: Payout amounts may be taxable income.

• Keep records of all payouts

• Declare to HMRC on your tax return (if self-employed)

• Consult a tax advisor if amounts are large

• Sponsor Driven will provide a statement if needed for taxes

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Troubleshooting Flowchart

"I can't request a payout"

1. Check: Is your balance ≥ £20?

   • No → Wait for more contributions

   • Yes → Go to next step

2. Check: Does your Payouts page say "Ready" or "Complete"?

   • No → Complete setup (go to Step 2)

   • Yes → Go to next step

3. Try: Refresh page and try again

4. Still stuck? → Contact [email protected] with screenshot

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Next Steps

• Just received your first payout? Celebrate! 🎉

• Want to understand your balance? Go to Payment States Guide

• Curious about fees? Check Fees and Processing

• Ready to earn more? See Creating Sponsorship Tiers

• Track your revenue? Read Understanding Analytics