diff --git a/src/api/withdrawal/dto/withdraw.dto.ts b/src/api/withdrawal/dto/withdraw.dto.ts
index 5073a11..4099c85 100644
--- a/src/api/withdrawal/dto/withdraw.dto.ts
+++ b/src/api/withdrawal/dto/withdraw.dto.ts
@@ -1,14 +1,39 @@
 import { ApiProperty } from '@nestjs/swagger';
-import { ArrayNotEmpty, IsArray, IsNotEmpty, IsUUID } from 'class-validator';
+import {
+  ArrayNotEmpty,
+  IsArray,
+  IsNotEmpty,
+  IsOptional,
+  IsString,
+  IsUUID,
+  MaxLength,
+} from 'class-validator';
+import { ENV_CONFIG } from 'src/config';
 
-export class WithdrawRequestDto {
+export class WithdrawRequestDtoBase {
   @ApiProperty({
     description: 'The ID of the winnings to withdraw',
     example: ['3fa85f64-5717-4562-b3fc-2c963f66afa6'],
   })
   @IsArray()
   @ArrayNotEmpty()
-  @IsUUID('4',{ each: true })
+  @IsUUID('4', { each: true })
   @IsNotEmpty({ each: true })
   winningsIds: string[];
 }
+
+export class WithdrawRequestDtoWithMemo extends WithdrawRequestDtoBase {
+  @ApiProperty({
+    description:
+      'A short note (30 chars max) which that will show up on your bank statement',
+    example: 'Topcoder payment for week 05/17',
+  })
+  @IsString()
+  @IsOptional()
+  @MaxLength(30)
+  memo?: string;
+}
+
+export const WithdrawRequestDto = ENV_CONFIG.ACCEPT_CUSTOM_PAYMENTS_MEMO
+  ? WithdrawRequestDtoWithMemo
+  : WithdrawRequestDtoBase;
diff --git a/src/api/withdrawal/withdrawal.controller.ts b/src/api/withdrawal/withdrawal.controller.ts
index 8f860f5..b6759be 100644
--- a/src/api/withdrawal/withdrawal.controller.ts
+++ b/src/api/withdrawal/withdrawal.controller.ts
@@ -46,6 +46,7 @@ export class WithdrawalController {
   @HttpCode(HttpStatus.OK)
   async doWithdraw(
     @User() user: UserInfo,
+    // @ts-expect-error: Suppress error for 'WithdrawRequestDto' being used as a type
     @Body() body: WithdrawRequestDto,
   ): Promise<ResponseDto<string>> {
     const result = new ResponseDto<string>();
@@ -55,6 +56,7 @@ export class WithdrawalController {
         user.id,
         user.handle,
         body.winningsIds,
+        body.memo,
       );
       result.status = ResponseStatusType.SUCCESS;
       return result;
diff --git a/src/api/withdrawal/withdrawal.service.ts b/src/api/withdrawal/withdrawal.service.ts
index 68bd584..4117969 100644
--- a/src/api/withdrawal/withdrawal.service.ts
+++ b/src/api/withdrawal/withdrawal.service.ts
@@ -151,7 +151,12 @@ export class WithdrawalService {
     }
   }
 
-  async withdraw(userId: string, userHandle: string, winningsIds: string[]) {
+  async withdraw(
+    userId: string,
+    userHandle: string,
+    winningsIds: string[],
+    paymentMemo?: string,
+  ) {
     this.logger.log('Processing withdrawal request');
     const hasActiveTaxForm = await this.taxFormRepo.hasActiveTaxForm(userId);
 
@@ -206,6 +211,7 @@ export class WithdrawalService {
           paymentBatch.id,
           totalAmount,
           paymentRelease.payment_release_id,
+          paymentMemo,
         );
 
         await this.updateDbReleaseRecord(tx, paymentRelease, trolleyPayment.id);
diff --git a/src/config/config.env.ts b/src/config/config.env.ts
index cfbb9db..222c4ed 100644
--- a/src/config/config.env.ts
+++ b/src/config/config.env.ts
@@ -1,4 +1,5 @@
-import { IsInt, IsOptional, IsString } from 'class-validator';
+import { Transform } from 'class-transformer';
+import { IsBoolean, IsInt, IsOptional, IsString } from 'class-validator';
 
 export class ConfigEnv {
   @IsString()
@@ -54,4 +55,17 @@ export class ConfigEnv {
   @IsInt()
   @IsOptional()
   TROLLEY_MINIMUM_PAYMENT_AMOUNT: number = 0;
+
+  @IsBoolean()
+  @IsOptional()
+  @Transform(({ value }) => {
+    if (typeof value === 'boolean') return value;
+
+    if (typeof value === 'string') {
+      return value.toLowerCase() === 'true';
+    }
+
+    return false;
+  })
+  ACCEPT_CUSTOM_PAYMENTS_MEMO;
 }
diff --git a/src/shared/global/trolley.service.ts b/src/shared/global/trolley.service.ts
index e17a1b9..ccdfe78 100644
--- a/src/shared/global/trolley.service.ts
+++ b/src/shared/global/trolley.service.ts
@@ -110,6 +110,7 @@ export class TrolleyService {
     paymentBatchId: string,
     totalAmount: number,
     transactionId: string,
+    paymentMemo?: string,
   ) {
     const paymentPayload = {
       recipient: {
@@ -117,7 +118,7 @@ export class TrolleyService {
       },
       sourceAmount: totalAmount.toString(),
       sourceCurrency: 'USD',
-      memo: 'Topcoder payment',
+      memo: paymentMemo ?? 'Topcoder payment',
       externalId: transactionId,
     };