Setting Frequency of Deposits to Bank Account from Shopify Payments

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New Member
1 0 0

Been searching for somewhere I can control the frequency Shopify Payments deposit into my bank account after the waiting period.  My bank account charges for each deposit made so I would prefer that each transaction processed by Shopify didn't get deposited.  

Is there a way to set a lump sum deposit once a month into the bank account from Shopify Payments? 

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Shopify Staff
Shopify Staff
207 0 14

Hello Carly,

Brandon here from the Shopify Guru Team :)

There isn't a way to change the payouts to do a lump sum deposit once a month at this time.  Your best bet would be to try to work something out with your bank so they don't charge you every time a deposit is made.

Thanks for posting!

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New Member
4 0 0

I would also like to be able to set the frequency of deposits to our bank account from Shopify payments.

For us it is a matter of the extra bookkeeping.

This post is marked as "outdated".  Is there new info?

Thanks.

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New Member
12 0 0

I find this really strange that the payment schedule can't be altered. Because I use Stripe (the payment processor used for Shopify Payments) for selling I do on another site. And stripe DO allow to change your payouts for either weekly or monthly. See here:

https://stripe.com/blog/weekly-and-monthly-transfers

So it is shopify who are restricting us from doing this ☹️.

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Tourist
5 0 58

Has anybody found an answer to this yet?

I also have Stripe outside of Shopify and have my deposit times changeable.

It is an accounting nightmare when payments come in too frequently. 

Surely this should be a simple fix?

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New Member
4 0 0

FWIW, I've setup a spreadsheet to manage our Shopify Data and reconcile against Bank Deposits on a monthly basis. We use Quickbooks and iif Creator, so we are able to export a month's worth of Shopify Data from Excel to Quickbooks.  It's pretty efficient.  Depending on your volume and bookkeeping requirements, this may or may not work for you, but if it does it is certainly better than trying to keep up with all the deposits...

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Shopify Partner
6 0 4

By default, you get paid every day as soon as your funds are available to be paid out. If you want to get paid at regular intervals, then you can set up a weekly or monthly payout schedule. When you update your payout schedule, pending payouts are delayed until the next applicable payout date on your new schedule. If you select a recurring date for when you want to get paid, then the payout is scheduled for that day but your bank might take additional time to process the transfer.

 

Steps:

UPLONE | Create Reach
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Explorer
41 0 19
Thank you UPLONE! I haven't tried it yet but the daily payouts are more work in QuickBooks so this will be useful
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