Topcoder Payments Are Moving to Trolley

Starting July 1, 2025, Topcoder is switching from Payoneer to a new global payment provider: Trolley. This change will simplify and improve how we deliver payments to our community.

Trolley offers a more modern, reliable, and flexible payout experience that better fits the needs of our global community. With Trolley, you’ll benefit from:

• Bank transfers to 210+ countries

• Lower overall fees compared to Payoneer

• PayPal payouts supported

• Simplified end-of-year tax filing

• Easy account setup and tracking

• Improved reporting and payout history

• Secure and compliant (SOC 2 certified, GDPR compliant)

You don’t need to take any action right now. When the time comes, you’ll receive an email to set up your payment method via Trolley - either bank or Paypal.

🔔 Please note: Topcoder will stop sending payments through Payoneer after July 1, 2025. If you wish to withraw through Payoneer, be sure to withdraw any remaining Payoneer funds before then, else you will be able to transfer at a later time through bank or Paypal.

Check below the FAQs and if you have any questions, feel free to ask us in the forums.

Frequently Asked Questions (FAQ)

🔄 General Transition Questions

1. Why is Topcoder switching to Trolley?

We’re moving to Trolley to provide a more flexible, global payment solution. It supports direct bank transfers to 210+ countries, streamlines the payout process, and offers better reporting and security.

2. What happens to my existing Payoneer account?

Your Payoneer account remains yours, but Topcoder will no longer send payouts to Payoneer after July 1, 2025.

3. What will happen with my Payoneer payments if I don’t withdraw payments by July 1st?

You will still be able to access and withdraw your Payoneer funds directly from your Payoneer account after July 1st. However, Topcoder will not issue any new payments to Payoneer after this date, so please withdraw your remaining funds beforehand.

4. What happens to my wallet account balance if I don’t withdraw by July 1st?

Your balance will remain unchanged and you can still withdraw your payment after setting up the new payment method.

5. Can I still use PayPal?

Yes! Trolley supports PayPal, so you can continue receiving payments through your PayPal account.

6. When does the transition take effect?

The official transition begins on July 1, 2025. After this date, all payments will be processed exclusively through Trolley.

7. Will I need to take any action to keep receiving payments?

Yes. You’ll need to set up your payout method to Trolley using the Topcoder Wallet application (what you use now). Instructions will be shared on July 1st.

🏦 Bank Transfers / Payment Methods

8. What payment methods are supported with Trolley?

Trolley supports:

• Direct bank transfers

• PayPal

9. Can I receive payments to my local bank account?

Yes. You can receive payments in your local currency to your domestic bank account in most countries.

10. Does Trolley support payments in my country?

Trolley supports payments in over 210 countries and territories that you can see here.

11. What currency will I receive my payment in?

Trolley defaults to your country’s local currency to ensure the fastest and most cost-effective transaction. If other currency options are available, you’ll see them during your account setup.

12. Are virtual accounts (like Wise) supported?

Currently payees are able to submit either bank or PayPal account details to receive payouts. Trolley does not currently offer support for virtual accounts for fund withdrawal.

📝 Account Setup & Verification

13. How do I set up my Trolley account with Topcoder?

After July 1, 2025, you have to visit the Topcoder Wallet Application and follow the steps there. More instructions will be shared on July 1st, 2025.

14. What information will Trolley require from me?

You will be asked for:

• Full legal name and contact info

• Payment method details (bank or PayPal)

• Government-issued ID

• Tax-related forms (like W-9 or W-8BEN)

💸 Fees, Timing & Currencies

15. Are there any fees for using Trolley?

Yes, depending on the payment method you choose.

• Bank: there is a fixed fee of 1, 2 or 9 USD for the transfer that differs per country. They differ because the different transaction routes based on the country they are being sent to.

• Paypal: there is a 2% fee for transfer. Any additional fees that Paypal has, stay as before.

If you’re paid in a currency different from your bank or PayPal account’s default, there is also a currency conversion fee of 2% on top of the going market rate.

16. What is the tax withholding rates for different countries?

Trolley calculates withholding amounts on a payment based on two variables: Info received on IRS Forms W-8 BEN or W-9, and the purpose of the payments.

The withholding rate on a payment could be:

• 0%: If the recipient certifies they are not subject to backup withholding when they complete their initial tax form setup.

• 24%: Backup withholding rate for W-9 recipients in the U.S. If TIN matching fails.

• 30%: Non-resident alien withholding rate.

Treaty Rate: For payments made to recipients who submit Form W-8 BEN information that indicates they are a citizen of a country that has a tax treaty with the U.S., Trolley will apply the appropriate treaty rate. You will find out what the treaty rate is for you once you set up your payment settings and answer all the questions there.

17. How long do payouts take with Trolley?

Payments will be processed within 2 business days.

📄 Tax Forms & Financial Reporting

18. Will Trolley help with year-end financial declarations?

Yes. You can download your payout history (CSV or PDF) for tax or financial reporting purposes.

19. Does Trolley report taxes to local authorities across different countries? If so, where can members access proof of these reports?

Trolley enables tax reporting and compliance across multiple countries and jurisdictions, including the US (IRS 1099/1042) & the EU (DAC7). This functionality is built natively into the platform, allowing end-to-end tax automation.

Trolley’s platform generates end-of-year filing files required by local authorities, such as XMLs for DAC7 in the EU, and enables e-filing with various tax agencies directly from the platform.

20. How can I access my tax statements?

When filling out a W-9 or W-8, recipients can choose electronic or mail delivery to receive these documents. At the end of the year Trolley sends to all recipients who requested mail delivery a printed version of the statement to the address entered on the W-9/W-8 forms. You will also receive an email with your tax statement.

🆘 Support & Troubleshooting

21. Who do I contact if a payment fails?

Start by contacting Topcoder support. If needed, we’ll escalate your issue to Trolley for resolution.

22. Can I change my payment method easy from bank to Paypal in Trolley?

Yes. Once your account is set up, you can log into the Trolley portal and update or switch your payout method anytime.

23. What happens if I make a mistake in my banking details?

When a payee enters their banking information in Trolley there is a live validation process that occurs and uses the institution and/or routing number to display the associated bank to the user. If the user were to submit incorrect bank details then the subsequent payouts would fail and the merchant would be alerted of the issue.

If you have any other questions, feel free to ask them in the forums or reach out to support@topcoder.com.