I am trying to set up a new store and also Shopify Payments. A part of that is to submit my IBAN number.
I've fetched the number from my Revolut (banking) app, but I keep getting an error that it's invalid. I've checked it at least 100 times, and it's 1-to-1 with what it says in my app.
Is there anything I am missing?
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Hi, @NewDayWatch !
I think I see the issue here. The IBAN needs to be from a banking institution physically located in the country you're signing up in. Virtual banks can't be supported for this reason. It looks like the issue is the Revolut bank account here. If you let me know what country you're trying to get set up in, I'd be happy to send you the required specifications for a bank account.
All the best!
This is an accepted solution.
Thanks for clarifying that for me. That's probably what the issue here is then. I'm not familiar with Revolut but it looks like it's a virtual bank which means it would not be supported. You can find more information about setting Shopify Payments up in Denmark here but I'll add the specifications for you below:
Let me know if you have any questions or if you need anything clarified!
I have the exact issue and the only way to get around is to accept payments in Euros - which will be expensive in the long run. Revolut is a cheap bank for small business but not a good deal for danish companies. We are now looking to open a business account with Danske bank or Nykredit that have the most favorable conditions for small businesses. I hope it helps.