By default, Shopify Payments, the platform’s built-in payment gateway, processes payouts on a daily basis in most regions. However, you can adjust this schedule to better align with your financial needs.

In this guide, we’ll walk you through the step-by-step process of scheduling your Shopify Payments payouts and discuss some important considerations to keep in mind before making any changes.

Important Considerations Before Scheduling Your Shopify Payments Payouts

To make informed decisions about your payout schedule, carefully review these essential considerations.

• With Shopify Payments, you can choose a daily, weekly, or monthly payout schedule. However, you can’t get payouts at weekends or on public holidays.
• You can switch between payout schedules anytime without any extra fees.
• Even with scheduled payouts, there’s typically a processing period of 1-3 business days before funds are available in your bank account.
• If you’re in Japan, you can choose weekly or monthly payouts, but not daily.
• If you’re in France, you can’t choose your own payout schedule.
• If you’re in the United States, you might get multiple payouts per day or even receive them earlier than your scheduled date because Shopify Payments uses multiple payment processors.
• Monthly payouts are adjusted for shorter months. So, if you’re set to get paid on the 30th, but the month only has 28 days, you’ll be paid on the 28th instead.

Step-by-Step Guide to Scheduling Your Shopify Payouts

Let’s break down the process of scheduling your Shopify Payments payouts into simple steps.

On Desktop

Step 1: From your Shopify admin, go to Settings

Step 2: Within the settings menu, click on Payments

Step 3: In the Shopify Payments section, click Manage

Step 4: In the Payouts schedule section, and then select your preferred schedule. If you select Every week, tap the drop-down menu and select the day of the week on which you want to receive your payouts.

Step 5 (Optional): If you want to receive email notifications every time a payout is processed, check the box next to Get notified by email every time you receive a payout.

Step 6: Finally, click Save to apply the changes.

On iPhone

1. From the Shopify app, tap the … button, and then tap Settings.
2. Now choose Payments > Choose Manage in the Shopify Payments
3. In the Payouts schedule heading, select your preferred payouts schedule. If you select Every week, tap the drop-down menu and select the day of the week on which you want to receive your payouts.
4. Tap Save.

On Android

1. Open the Shopify app, tap the ☰ button, and then tap Settings.
2. Choose Payments.
3. In the Shopify Payments section, tap Manage.
4. Find the Payouts schedule heading, and then select your preferred payouts schedule. If you select Every week, tap the drop-down menu and select the day of the week on which you want to receive your payouts.
5. Select or deselect the option to Get notified by email every time you receive a payout.
6. Tap ✓.

Bottom Line

Scheduling your Shopify Payments payouts is a simple way to manage your cash flow effectively and align your finances with your business operations. By understanding the available options and considering the important factors mentioned above, you can customize your payout schedule to meet your specific needs.

FAQs

Can I change my payout schedule after setting it?

Yes. You can change your payout schedule anytime through your Shopify admin panel.

Are there any fees associated with scheduling payouts?

No. Shopify doesn’t charge extra fees for scheduled payouts but check with your bank about any potential fees for incoming transfers.

What payout frequencies are available?

Available frequencies include daily (Monday to Friday), weekly, and monthly.

How do scheduling payouts affect my available funds?

Scheduling payouts doesn’t change the total amount you’ll receive, but it can affect when you receive your funds. More frequent payouts mean smaller amounts more often, while less frequent payouts result in more considerable lump sums.

My payout is delayed. What should I do?

Payout delays can sometimes occur due to weekends, holidays, or bank processing times. If your payout is significantly delayed beyond the expected timeframe, contact Shopify support for assistance.

Can I view my payout history?

Yes, you can access a detailed history of your past payouts, including dates, amounts, and fees, within your Shopify admin under Settings > Payments > View payouts.

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• How to Set Up Shopify Payments in 4 Easy Steps
• How to Edit Bank Account Information on Shopify
• How to Edit Customer Billing Statement on Shopify