Get Started in Minutes
- Sign up for FreelancePay with your electronic ID (it's free to start, no commitment)
- Connect your Wolt account to FreelancePay
- Track your earnings and add all your business-related expenses
- Invoices are generated automatically for you
- Get paid weekly and stay compliant
- Option for advance payments when you need them
Frequently Asked Questions
FreelancePay is Wolt's official payout partner in Iceland. We offer an easy, all-inclusive service that includes:
• Automatic invoice generation from your Wolt earnings
• Tax reporting and payment of mandatory fees
• Assistance with contractor-related applications
• Weekly payments directly to your bank account
• Advance payment options when you need quick access to earnings
• Guidance on yearly tax reports
• Dedicated customer support
You can focus on deliveries while we handle all the paperwork!
Simply let Wolt know you're using FreelancePay. Once you've completed your FreelancePay account setup, we'll automatically handle all invoicing. You don't need to send any proof of income or invoices - we get all necessary information directly from Wolt.
For work performed between the 1st and 15th, payment is on the 25th of the same month. For work from the 16th to month-end, payment is on the 10th of the following month. If a payment date falls on a weekend or holiday, we typically process payments on the previous working day when possible.
As a self-employed contractor, you need to pay:
• Income tax: 31.49% - 46.29% (progressive)
• Insurance fee: 6.35%
• Pension fund: 15.5% (11.5% employer + 4% employee)
• Rehabilitation fund: 0.1%
We calculate and handle all these payments automatically to keep you compliant.
You need to apply for a VAT number before your total income over a 12-month period reaches 2 million ISK. We'll help guide you through the application process when needed.
FreelancePay's service fee is 4.49% + VAT per invoice from Wolt, with a maximum cap of 13,900 ISK per month + VAT. The fee is automatically deducted from your earnings, and all service fees are tax-deductible as business expenses.
Union membership is optional for contractor income. If you're already paying union fees through another employer, you're typically covered. Some unions like VR and Eining-IĂ°ja accept self-employed contractors, with fees usually ranging from 2.35-2.55% of gross income.
We send all important documents, including invoices, tax summaries, and important notifications directly to your registered email address. Make sure to keep your email up to date in your account settings.