Flitto does not impose a commission on translators.

Therefore, translators/proofreaders can receive the full estimate price suggested to the requester.

However, in the case of wire transfer, according to Korean law, income tax will be deducted.

Method of payment

Translation fees are provided through bank wire transfer and PayPal.

Go to My Page > Point / Payment / 1:1 Pro > Translation/Proofreading Fee Payment Method and select one out of wire transfer and PayPal, and provide the necessary information.

However, PayPal can be used only for individuals without any liability of taxation according to the Tax Law, and only overseas accounts are allowed.

Flitto’s wire transfer system utilizes Korea Financial Telecommunications & Clearings Institute’s “Joint Banking Open Platform,” and only the accounts from banks that support this system can be used. If you cannot retrieve your account information even though it is from a bank that supports this system, it could be a temporary problem, so please try again later. You may not be able to retrieve the results during each bank’s lunch hours.

*Reference: https://www.openbanking.or.kr/apt/content/openplatform?location=openPlatform_3

*You cannot view your account information when you use Industrial Bank of Korea’s (IBK) account number in a mobile phone number format. Please ask the bank for the original account number and try again. 

Tax

Income collected through 1:1 Pro activities is regarded as business income according to the Income Tax Act, and a withholding tax rate of 3.3% (including local tax) will be imposed. (Refer to Article 129 of the Income Tax Law)

However, if the payment amount is less than a certain amount, it is not subject to the 3.3% withholding tax rate.

Payment deadline

Translation/Proofreading projects approved between Monday to Sunday midnight will be summed up every week, and the corresponding fee will be paid within 3 business days of the following week.

(However, fees will be paid the moment it is approved when you use PayPal)