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When Does Shopify Pay Me? A Complete Guide for Store Owners

Last updated: December 19 2024

Written and researched by experts at Avada Learn more about our methodology

Getting paid on time is essential for managing cash flow and planning for growth as a Shopify store owner. Knowing exactly when Shopify will pay you allows you to streamline your financial management and avoid any surprises. In this article, we’ll break down Shopify’s payment schedule, methods, and ways to track your payouts, so read on to ensure you’re fully prepared to receive payments smoothly and on time.

How Long Does It Take to Get Paid From Shopify?

The payment period is the time between a customer’s order and the arrival of funds in your bank account. Shopify orders placed on Friday, Saturday, and Sunday are combined into a single payment. You should note that banks usually take 24 to 72 hours to process deposits. 

In Japan, payments are sent on Fridays, with a payment period of five days plus the days until Friday. For instance, an order placed on Wednesday is paid out on the following Friday, and an order on Sunday is paid that same Friday.

Here are the payment periods for Shopify orders in several countries:

CountryPayment period
AustraliaUnited States2 business days
CanadaDenmark  Germany  Ireland  The Netherlands  New Zealand  Spain  United Kingdom3 business days
Hong Kong SAR ChinaItaly  Singapore  Sweden4 business days

So, How Does the Shopify Payment System Work?

Shopify Payments sends funds to the bank account you’ve added to the Payment Providers section of your Shopify admin. The account you use to receive payouts must be a Shopify Balance account, a full checking account, or a current account if you're in the UK or Ireland. For more details about eligible accounts, check the bank account requirements for Shopify Payments in your country.

Note: Keep in mind that you won’t receive a payout if the amount is less than $1, £1, or €1, depending on your store's currency. In that case, the funds will be added to your next payout once the minimum is met.

7+ Factors Affecting Shopify Payout Times

Based on my personal experience and knowledge related to Shopify Payments, below are the key factors that can affect the payout times of Shopify:

  1. Bank Processing Time: After Shopify sends the payment to your account, your bank's processing time determines how quickly you receive the funds. While Shopify can release payments within 3 business days, some banks may take longer to transfer the money to your account.
  2. Payment Gateway: If you're using a third-party payment gateway, funds are typically transferred to the gateway's account before they are sent to your bank. This extra step can add time to the process.
  3. Holidays and Weekends: Payments aren’t processed by Shopify or banks on weekends or holidays, so these days need to be considered when estimating when you'll receive your money.
  4. Transaction Issues: Occasionally, delays can occur due to issues with specific transactions, such as payment authorization problems or the need for additional verification on certain orders.
  5. Currency Conversion: If payments require currency conversion, additional processing time may be required.
  6. Currency: Processing international payments and currency conversions can sometimes take longer.
  7. Chargebacks and Disputes: If you have any chargebacks or disputes, your payouts may be held until they are resolved.
  8. Payout Schedule: You can customize your payout schedule (daily, weekly, monthly) in your Shopify settings, which influences when you receive funds.

How to Manage Your Shopify Payments 

How to View Your Payout Schedule

To check your upcoming payments, go to your Shopify admin to review your payment setup. 

Step 1: Start by navigating to Settings and selecting Payments. Here, you’ll find a list of payment accounts along with the expected date you'll receive your funds.

Start by navigating to Settings

Step 2: Then click the Manage button under the Shopify Payments section.

Then click the Manage button

Step 3: In the Payouts section, find the Payouts schedule heading to see your current schedule. Each payment account/order can have one of the following statuses:

You can choose a daily, weekly, or monthly payout schedule. If you want to change it, select your preferred option and click Save. Remember, you can't receive payouts on weekends or public holidays. 

In the Payouts section, find the Payouts schedule

Tips for Successful Payouts

Here are some tips for ensuring smooth and successful payouts with Shopify Payments:

  1. Keep Your Bank Account Information Updated: Ensure that your bank account details are accurate in your Shopify admin. Any errors can delay or cause failed payouts.
  2. Use Eligible Accounts: Make sure your payout account is a Shopify Balance account, a full checking account, or a current account if you're in the UK or Ireland. Ineligible accounts could cause issues with receiving funds.
  3. Monitor Your Payout Threshold: If your payout is below the minimum threshold (e.g., $1, £1, or €1), the funds will roll over to the next payout. Keep track of this to avoid confusion.
  4. Check for Holidays and Weekends: Since payments aren’t processed on weekends or public holidays, be mindful of these delays when estimating your payout dates.
  5. Resolve Payment Issues Promptly: If a payout fails, Shopify will provide details on the error. Address any issues, like insufficient bank details or verification requirements, as quickly as possible to avoid further delays.
  6. Review Transaction Status Regularly: Keep an eye on the status of your transactions in the Shopify admin under Settings > Payments. This will help you spot and resolve any potential issues early.
  7. Enable Notifications: Set up email or SMS notifications for payment updates so you can stay informed about payout statuses and potential issues.

Shopify Payment: FAQs

Can I Get My Money Faster?

Your pay period determines how long it takes for Shopify Payments to transfer funds to your bank account. While you can’t shorten the pay period for a specific account, Shopify is continuously working to reduce pay periods for all accounts. You can track all transfer attempts to your bank using the payout schedule in your Shopify admin.

What Counts as a Business Day?

Business days are from Monday to Friday, excluding federal holidays for retailers in the United States and statutory holidays for retailers in Canada, the United Kingdom, Ireland, Australia, and New Zealand. You can identify the day a shopper places an order on your website from the time that order was placed in the UTC zone.

Why Does My Payout Show "Paid," but No Funds Have Been Deposited?

Shopify transfers funds daily, but most banks only process transfers on business days. This means that if funds are sent on a holiday or weekend, you'll see the money in your account on the next business day. For transfers sent on regular business days, the funds should appear in your account by the following day.

If a transfer was sent on a business day, but you don’t see the funds after a few days, the transfer may have failed. It can take 3-5 business days for banks to notify Shopify of failed transfers. Shopify will then send a failed payout notification and update your admin banner with details about the issue.

My Payout Failed, What Do I Do?

Once there is a transfer failure, payouts to your bank account are put on hold till the issue is settled. To solve the issue that causes your transfers to fail, you can follow the guidance on the Transfer Failed banner on your Payouts page. For instance, you may need to update your banking details or tap on Retry payout.

If you update your bank account in order to a valid checking account, the failed transfers will be automatically retried in the next 72 hours. If your current account is valid and you do not understand what caused the transfer failure, then you ought to contact your bank promptly to square it right away.

Why Are All My Payouts 30 Days Apart?

In certain cases, your orders may be subject to a 30-day payout period, depending on the products you sell and the policies of your payment partner. If your account has a 30-day payout period instead of the regular one, you will receive direct notifications informing you of this change.

In Conclusion

This article provides a comprehensive overview of Shopify’s payout schedule, payment processing times, and factors that can impact when you receive your funds. To manage your cash flow effectively, stay informed about your payout schedule and monitor any potential delays to ensure smooth financial operations for your store.

Should you have any questions, do not hesitate to contact us. We are always ready to help you out if you need anything.

Sam
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Sam Nguyen is the CEO and founder of Avada Commerce, an e-commerce solution provider headquartered in Singapore. He is an expert on the Shopify e-commerce platform for online stores and retail point-of-sale systems. Sam loves talking about e-commerce and he aims to help over a million online businesses grow and thrive.