Partner Payouts only via PayPal - Does this mean we incur yet another fee?

ErickLuis
Tourist
4 0 1

TransferWise would be good for partners from other countries too

PayPal is a rip-off. I was using TranfserWise, but now PayPal started charging a 3% fee for money transfer to a bank account in USD even if there is no currency exchange.

I'm a software engineer. I make things happen automatically.
0 Likes
kelseyjudson
Shopify Partner
35 1 16

Yeah, this is pretty clearly PayPal's response to people using TransferWise for this to get around their exorbitant fees. They dress it up as necessary to support their 'innovative' (?) development. Then why does it only apply to people without a US account (but still a US bank account)? Because they're worried about missing out on their hidden currency exchange fee. Every payout now until Shopify comes to the rescue is money lost and I'm feeling pretty bitter about being forced to hand over money to a company I despise and have no choice about using.

LukeG
Excursionist
20 1 10

Common Shopify, we need more payout options.

 

Honestly I would even register a company in Canada if that would mean you guys/girls could payout to a bank account.

PayPal is getting ridiculous with their fees and the USD dropping in value since May 20' does not help with this either

 

Kind regards,

Lukas

initjsk
Tourist
4 0 7

@Nick 

I cannot emphasize enough, how much Shopify needs to find a solution for this. If not direct bank transfer, then at least add the option to use Transferwise.

Every Shopify partner (with less than $30k MRR) outside of North America is currently being ripped off by PayPal for 3% of their revenue for a service that the bank or Transferwise provides virtually for free.

It is really dissatisfying to see this thread having been open for almost 2½ years with absolutely no progress. We pay 20% of our revenue to Shopify, and you thank us by forcing an expensive payment service down our throat.

 

Has anyone found a new way to get around the ridiculous conversion fees on PayPal?

edwardupton
Shopify Partner
14 0 5

+1 for alternative payout methods.

We even got as far as registering a US company to quality for a US PayPal account, but it sounds like that still won't save the 3% PayPal charges.

Transferwise would work, or there any many open banking APIs that could work at the scale Shopify is paying out.

Littledata: Smart connectors for ecommerce growth
Daniel_Ristic
Excursionist
15 0 5

Yep, every day Shopify does not provide an alternative paiement method for partners, especially those affected by the new 3% PayPal fee, it gives an uncompetitive advantage to partners operating from the US, which is kind of ironic for a Canadian company.

Seriously though, we need an alternate payment method, Transferwise, direct bank transfer or anything really! 

@edwardupton, any luck switching to a US PayPal account?

0 Likes
edwardupton
Shopify Partner
14 0 5
No, but it seems we are above the threshold to get manual payouts (above
$30k per payout). Just checking with Shopify accounts.
Littledata: Smart connectors for ecommerce growth
0 Likes

+1 for strongly requesting this @Nick 

Playwright | Create Shopify Scripts without writing code | https://playwrightapp.com
- Was my reply helpful? Please Like and Accept Solution.
- Need help with a custom Shopify script? Email me at matthew@playwrightapp.com

0 Likes
soulchild37
Excursionist
26 1 1

Hi Nick and Shopify staff,

Hope you can consider this thread suggestion. Transferwise or even Stripe is good with me.

Cheers,

Axel

0 Likes