With RateHawk, the commission can now be received directly through the back office. This feature is available exclusively for legal entities registered as ETI and SMETA. Here’s a detailed guide on how to navigate the new commission withdrawal process.
How can I find out the payment amount?
To check the payment amount:
Log in to the back office: Use your credentials to access your RateHawk account.
Navigate to the “Reporting” tab: Select “Withdrawal of commission.”
Check the payment amount: The dashboard displays the total amount available for withdrawal.
What types of commission payout settings are there?
RateHawk offers two types of commission payout settings:
Automatic: Commissions are processed and paid out automatically each month.
Manual: You can manually request the commission to be paid out at your convenience.
Where can the commission be credited?
Commissions can be credited to:
Overpay account: This allows you to use the commission as a credit balance for future bookings.
Bank account: The commission can be transferred directly to your business bank account.
What are the requirements for requesting and getting a withdrawal of commission?
Before requesting a commission withdrawal, ensure the following requirements are met:
Active legal entity: Your account must be registered as an ETI or SMETA.
Minimum commission threshold: The accrued amount of commission must be at least $100 or its equivalent in another currency.
Valid bank details: Ensure your bank details are correctly entered and verified in your back office profile.
W8-BEN/W8-BEN-E/W9 Form: Must be filled out and attached to the back office for ETI contracts.
No unpaid overdue debts: Ensure there are no unpaid overdue debts.
Automated and manual withdrawal processes
Automated withdrawals:
Navigate to “Withdrawal of commission”: Under the “Reporting” tab.
Activate the “Automatic withdrawal of commission” button.
Choose an account: Select either a “Bank account” or “Overpay” balance for the commission.
Add a bank account: If needed, click the “Add account” button and fill in the required information.
Manual withdrawals:
Access the “Reporting” tab: Select “Withdrawal of commission.”
Mark the orders: Withdraw commissions with a minimum threshold of $100 or its equivalent in another currency.
Click on the “Withdraw” button: Choose an account for the commission to be withdrawn to.
Add a bank account: If needed, click the “Add account” button and fill in the required information.
Payout timelines and additional information
Commission report: The report is generated after the 16th day of each month and includes bookings made in the previous month (e.g., the commission report generated on March 16 will cover gross bookings made in February).
Bank transfer timeframe: Payout will be made within 2–4 weeks from the request date.
No minimum for overpay: There is no minimum amount required to process the payout to overpay, which offers greater convenience.
Commission payment statuses
Status on product | Status in system | Meaning |
Ready for withdrawal | - - - | Commission can be requested |
Withdrawal to process | Created | Request created by partner |
Awaiting payment | Approved | Payment approved by the finance team |
Rejected | Declined | Request rejected by the finance team (reason provided) |
Enrolled to overpay | Paid | Commission has been paid |
If a request is rejected, contact our support team for assistance in resolving any issues.
Instructions on completing form W8/W9
For us to pay commission you will need to complete form W9 (for partners in the USA) or W8 (for partners in all other countries).
Generation of Form W8/W9 now is automated!
There is also an option to fill in those form manually:
For US partners who are legal entities, please fill in the form W9 https://www.irs.gov/pub/irs-pdf/fw9.pdf
Only page 1 needs to be filled in:
par.1 Name of the company (as shown on your income tax return)
par.3 Check the box (usually C Corporation)
par.5 Address (number, street, and apt, or suite no)
par.6 City, state and ZIP code
Part 1. Taxpayer Identification Number (TIN)
Part 2. Signature of U.S. person and date
For non-US partners who are legal entities, please fill in the form W8https://www.irs.gov/pub/irs-pdf/fw8bene.pdf
Only pages 1, 2 and 8 need to be filled in.
Page 1 (Part 1):
par.1 Name of the organization
par.2 Country of incorporation or organization
par.4 Check the box (usually Corporation)
par.5 Check the box (usually Active NFFE)
par.6 Permanent residence address (number, street, and apt, or suite no)
City or town, state or province, postal code
Country
par.9b Foreign TIN (tax [TAXPAYER?] identification number)
Page 7: (Part XXV – Line 39)
Check Box
Page 8:
Signature of individual authorised to sign for beneficial owner
Print name
Date
Check the box “I certify that I have the capacity to sign for the entity identified on line 1 of this form.”
For non-US partners who are individuals, please fill in the formhttps://www.irs.gov/pub/irs-pdf/fw8ben.pdf
Only page 1 needs to be filled in:
(Part 1):
Par.1 Name of individual who is the beneficial owner
Par.2 Country of citizenship
Par.3 Permanent residence address
Par.4 Mailing address
Par.6 Foreign tax [TAXPAYER?] identification number
Part 3:
Signature of beneficial owner, Name of signer and date
Empower your earnings
If you have any questions or need further assistance, contact RateHawk support for assistance.