I would like to know if it is possible that when customers choose the 'Bank transfer' option of payment that they are allowed to pay in a different currency to my presentment currency in a bank account in a different country?
E.g. My store is in Hong Kong and the presentment currency is in USD but I get customers from the UK paying GBP. I have a UK GBP account and was wondering if it would be possible for UK customers to pay me in GBP via bank transfer so it would be better for both them and I. Of course I would have to inform my customer how much GBP to pay me.
Or is this not allowed / legal?
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Nick here from Shopify. Great question!
I spoke to the Shopify financial services team about this. They mentioned because a bank transfer is a manual payment option the actual payment aspect doesn't go through Shopify at all, it is handled outside of Shopify's system. Due to this, I would guess the customer could pay in whichever currency they would like. In these instances, you the store owner are relying on the customer to send you the correct amount and only once the money has been received would you mark the order as paid. Something to note is that your bank account would likely convert the transaction to your native currency, this might change from bank to bank though. The transactions take place completely outside Shopify so its down to the banks and how they handle a transaction such as this.
I hope this helps and answers your question.
All the best, Nick
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