I recently launched my store and as I test I made a purchase myself.
I'm set up with Shopify Payment (or I think so, at least) which supposedly have 0.0 transaction fee and the credit card rate applies to 2.2% + 0.25 cents.
However, in my payout I see a value that doesn't match this.
I have a payout with amount €31.05 and fee of €1.78 which makes a net payout of €29.27
The 2.2% should be €0.683 + 0.25c should sum €0.93. So according to my calculations, for this single transaction seems like I'm paying almost twice as much as I thought I should.
Can someone help on this? (by the way, is there no way to contact support on this platform? Support pages only take me to guides without giving me an email or phone that I can use)
My only guess is that maybe a currency conversion is being applied as I'm selling in USD. (alhough doubling the fee seems a lot anyway).
Is it normal that the payout amounts I receive are in euros? I'm based in Ireland but selling internationally, mainly to the US. So not sure if my account is wrongly set to euros or what would be more beneficial for me.
Hyde here from Shopify.
If you are on Shopify Payments then you're absolutely right that there are no transaction fees:
To double-check that, just pop into your Settings> Payment Providers and ensure that it looks something like this:
You're absolutely right that if you're selling in multiple currencies you do pay a conversion fee (more here):
You're likely seeing a combination of credit card fees and conversion fees combined.
To contact our support team, first head to https://help.shopify.com/en/questions and log into your store. Once you've logged in, you'll be prompted to ask about a topic:
Doing this will present you with links to relevant documentation on our Help Center, but there will also be an option to contact us directly if you require further help:
Clicking on this button at the bottom will then present you with the different support options available:
I hope that all helps!
All the best, Hyde.