Thanks so much for all your feedback and replies in this thread. I have added it to the feature request of this topic which our development team has.
The situation remains the same but the team is aware of this and your frustration with it. Thanks again for giving more information about how this can be improved and why.
Thanks for turning this into a feature request, I hope it turns into an actual alternative payment method pretty soon. I was assured more than 2 months ago that the payouts team was "all hands on deck" on this but as far as I can tell nothing's been done so far.
I wish Shopify was a little more transparent about this and why it's taking so long.
So here's a comment from the Shopify Partners Slack workspace by a Shopify representative:
Hey everyone, I'm a Product Lead at Shopify and my team is looking into this new fees that PayPal imposed. To give you some clarity, we 100% acknowledge the pain this creates for the community. We are looking into adding alternate methods of payouts in addition to PayPal. We cannot commit to timelines yet as we are still in early phases, but I want to assure the community that we're working on it with the highest priority. In the meantime, please keep the ideas flowing.
That was 2 months ago, yet @Nick you are saying that Shopify is just aware of this? If it's a highest priority as mentioned above then I'd hope that the team is more than just aware of it as we're still losing money on every payout the longer this goes on. So what really is the story here? Is it actively being worked on or is it just a feature request at the bottom of the list gathering dust? I don't feel very assured unfortunately.
I added it to the existing feature request per my previous reply above.
I have added it to the feature request of this topic which our development team has
Thanks, I do appreciate that and I know it's not your fault. However, it has been months now and we have seen nothing concrete to suggest that this is being taken seriously other than a few words here and there. I don't think it's unreasonable to suggest that Shopify's international partners deserve a little better. Perhaps this is a more complex issue than I give it credit for, but without any real communication we have no way to know, yet we are still here suffering the effects all the while.
No update on this yet? I really hate to use Paypal as they are charging additional 3% fee almost without giving me a single value at all. There are many bank accounts which support multiple currencies with much lower fees. Would you tell us whether this is going to be available or not in the near future?